June 17, 2017 | Auction Snapshot – Saturday 17th June 2017

Our team was out in force at auctions today and wanted to report on some of the activity.

27 Atkins St, Kew

Agency: Nelson Alexander

Auctioneer: Mark Verrocchi

Time: 10.30am

Despite the morning chill in the air, a crowd of nearly 50 people turned out to watch the auction of 27 Atkins Street, Kew. After the early formalities, a confident opening bid of $1,600,000 put the property straight on the market and set the tempo for the rest of the auction. 2 bidders fought it out with fast incremental rises. As the auction slowed down and one bidder conceded, a fresh pair of bidders then entered the fray and bid aggressively until the property was knocked down to them for $1,787,000.

158 Wattle Valley Road

Agency: Jellis Craig

Auctioneer: Campbell Ward

Time: 11.00am

A crowd of 40 people turned up to witness the auction of 158 Wattle Valley Road, Camberwell which was held in the front garden of the renovated Edwardian. Despite the interest, it was not until a second vendor bid at $2,550,000 that the crowd responded. 3 bidders engaged however, the auction struggled to gain momentum before being passed in at $2,640,000 to the highest bidder. Following the auction negotiations, the sale was concluded for a result of $2,690,000.

17 Lanark Street, Brunswick East

Agency: Nelson Alexander

Auctioneer: TBC

Time: 12.00pm

Despite a crowd of 50 people turning out and the auctioneers attempts to fire up the crowd, 17 Lanark Street, Brunswick East failed to receive any genuine bids and passed in on a vendor bid of $1,300,000. It is now advertised as a Private Sale for $1,425,000.

21 Iona Avenue Toorak

Agency: RT Edgar

Auctioneer: Mark Ridgeway

Time: 1.00pm

With a crowd numbering into the 70’s and spilling out the front gate onto the street, it was hard to get a view of the auction at the grand residence at 21 Iona Ave, Toorak. Initially, the crowd were reluctant to engage in the auction and it looked certain that it would pass in on a vendor bid at $5,800,000. Finally, a hopeful buyer kicked it off with a $25,000 rise and in response, a second and third bidder entered and the auction heated up. With the property declared on the market at $6,300,000, it continued along steadily before eventually falling under the hammer for $6,460,000

10 Albermarle Street, Kensington

Agency: Hodges

Auctioneer: Aaron Leask

Time: 2.00pm

With nearly 50 people lining the street around 10 Albermarle Street, Kensington, there was certainly interest in seeing the home go under the hammer. Despite the crowd, once the formalities had finished, the auctioneer was met with nothing but silence. Eventually a lone voice in the crowd called out a bid of $950,000 and it looked certain that the property was going to pass in at this price. After the agents referred to the vendor, a young couple entered the auction and it was only after a few successive rises that the property passed in to them at $980,000. It later sold for $1,030,000.

174 Cecil Street, Williamstown

Agency: Greg Hocking

Auctioneer: Leigh Melbourne

Time: 2.30pm

A large crowd numbering into the 40’s turned out to watch the sale of 174 Cecil Street, Williamstown with cars double parked along the street just to get a glimpse. With a vendor bid at $2,400,000 to kick things off, there was silence from the crowd which forced the agents to head inside and seek instructions. It was only upon their return that they were met with a single genuine bid of $2,450,000. With no further interest, the property passed in to them but the property still failed to sell. The reserve price now sits at $2,700,000.