July 22, 2017 | Auction Snapshot – Saturday 22nd of July 2017

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

9 Vine Street Carnegie

Time: 10:00am

Agency: Woodards

Auctioneer: Ruth Roberts

With Koornang Reserve next door filled with soccer players, another group of spectators huddled outside the front of 9 Vine Street in Carnegie to watch a different kind of competition. Auctioneer Ruth Roberts went through the formalities and passed it over to the crowd, with a hopeful bidder placing an opening bid of $950,000. Whilst she was awarded a chocolate house for opening the auction up, it was well below the quote range and the auctioneer placed a vendor bid of $1,300,000. Not long after, 2 more parties jumped in and a woman flanked by children was bidding confidently against her opposition, a pair of men. It would prove to be a long auction with the 2 groups trading blows until the property was announced on the market at $1,520,000 after 30 minutes of competition.

With the rises slowly breaking down to as little as $1,000 and the woman still holding the auction – it appeared she would finally take the keys after a long drawn out battle. With the auctioneer about to knock it down at $1,580,000, a fourth party stepped in. Despite renewed competition, the woman remained steadfast and counterbid effectively with the property being knocked down to her for the final price of $1,630,000.

12 Wood St Bentleigh

Time: 11:00am

Agency: Hocking Stuart

Auctioneer: Nick Renna

With icy winds blasting the street, only a small group of 20 braved the elements to watch the auction of the 5 bedrooms, 2 bathrooms, 2 car residence.

Auctioneer Nick Renna had his work cut out for him as the winds intensified throughout the pre-auction and the crowd shivered in whatever shelter they could. With the formalities briskly run through, he handed it over to the crowd only to be met with the sounds of the intense winds. With a lack of participation, he was forced to place a vendor bid of $1,500,000.

Despite the vendor bid, there were to be no genuine bids and the property was formally passed in for negotiations with any willing parties. The asking price for the property is $1,650,000.

124 Abbott Street Sandringham

Time: 12:30

Agency: Buxton

Auctioneer: Mark Earle

A huge crowd of 90 turned out to watch the auction of the quaint Tudor home, which was reminicint of a church in design and internally had been renovated.

With the formalities finished, a Buyers Advocate opened the bidding up confidently at $1,275,000 – well within the quote range. He was responded to by a young couple, who made it clear they wanted it far more than anyone else and put in an enormous rise of $125,000. The crowd and auctioneer were understandably shocked and the property was announced on the market with only 2 bids. With the Buyers Advocate knocked out, a third party entered the competition against the young couple.

The bids rose and fell frequently, with the young couple attempting multiple knock out bids to shake their competition. As the price continued to climb, both parties began to deliberate more and more between bids. Finally, the young couple conceded defeat and the hammer was knocked down at $1,651,000.

The purchaser of the property had been liaising with agents but had not physically seen the property up until several minutes before the auction.