Wilson said the auction, which opened at $3 million, was a roller coaster ride with bids ranging from $50,000 to $1,000, and that at one point successful buyers dropped out before eventually returning to the auction.
“It also started to rain and the machine I was using to write down the bids stopped working, and I had to run and get a pen. In the end, there were only two bidders left, and the lowest bidder was also a family who was going through a difficult time,” she said.
In Cheltenham, another large crowd ignored the freezing weather to watch 15 Elliot StreetA house with no garage or parking is being sold for $1,505,000 to a suburban couple.
The three-bedroom, two-bathroom home, which is estimated at between $1.26 million and $1.38 million, is located in the suburb’s “golden triangle” and is a stone’s throw from a park and within a five-kilometre radius of more than 20 schools. Despite the lack of a garage, the home’s features and location ensured it was a result that smashed expectations, said selling agent Trevor Bowen, of Ray White Cheltenham.
“The reserve was $1.38 million, we had seven registered bidders, and six of them submitted bids,” he said.
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“The auction was fierce and fast with a total of 36 bidders. We had to hold the auction indoors due to the weather. But considering how bad the weather was, the crowd was huge.”
Bidding started at $1.26 million and quickly increased in increments until two bidders were competing for the keys.
“The final buyers felt a little bad that they were bidding against a pregnant lady, but all is fair in love and war,” Boone said.
“This was ultimately a well presented family home… While the market is stable, well priced, well presented homes are getting great results and poorly priced homes are paying the penalty.”
in North East Melbournefour bedroom, two bathroom home in 40 Rockcliffe Street, Eltham It sold for $1.57 million after three local families announced their rejection.
The 693-square-foot home had attracted little interest from buyers in the lead-up to the auction, prompting agent Tom Kirchenko of Gillis Craig to pre-announce the reserve price of $1.5 million. He said the move was worthwhile.
“We were just hoping to bring the auction to a climax… and in the end I think buyers really appreciated this transparency,” Kurchenko said.
“We ended up with five registered bidders, and three of them went to auction. The house was sold to a young local family who loved the location and the street.”
One of the bidding families made an opening bid of $1.2 million, and the seller raised the home’s bid to $1.4 million.
From there, the bids at the auction increased by $20,000 until they reached the minimum bid. The two parties then exchanged bids of $10,000 and $5,000 until the house was sold at auction.
Records show the home last sold for $960,000 in 2014.
