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Melbourne Auction

Auction Snapshot – Saturday 1st of July 2017

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

65 Karma Avenue Malvern East

65 Karma Ave, Malvern East

Agency: Marshall White

Auctioneer: Daniel Wheeler

Agent’s expected price range: $2,000,000 – $2,200,000

Date: Saturday 1st of July 2017 10:30am

A sizeable crowd numbering close to 60 stood in the frigid winter sunshine to witness the auction of the 4 bedrooms, 2 bathrooms, 2 carpark Spanish Mission home. With the formalities finished, the auctioneer passed it over to the crowd for their participation. However, they were reluctant to engage with the auctioneer, which then forced him to place an opening vendor bid at $1,900,000. With the crowd still silent and despite the agent’s best attempts, there were no genuine bids and the property passed in at $1,900,000. The asking price is $2,100,000.

17 Trevelyan Street Elsternwick

17 Trevelyan St, Elsternwick

Agency: Biggin Scott

Auctioneer: Bill Stavrakis

Agent’s expected price range: $2,100,000 – $2,300,000

Date: Saturday 1st of July 2017 12:00pm

With close to 60 people lining the fences of the school across from the family home, it appeared the property was going to be hotly contested. The auctioneer prompted the crowd to commence the bidding but he was met with absolute silence. He was forced to kick things off on a vendor bid of $2,000,000 but there was still no response from the crowd. The agents then referred inside to the vendor and upon returning, they were met with a single genuine bid of $2,050,000. As there was no further participation from the crowd, the property passed in to the lone bidder to be further negotiated. The result is still currently undisclosed.

84 Bowen Cres, Carlton North

Agency: Nelson Alexander

Auctioneer: Colin Abbas

Agent’s expected price range: $2,350,000 – $2,500,000

Date: Saturday 1st of July 2017 1:00pm

A sizeable crowd numbering close to 70 lined up in front of the park opposite the 2 bedrooms, 1 bathrooms 2 car period home. Sitting on nearly 400sqm of land across from Princes Park, the competition was strong with 3 bidders competing seriously for the property. It opened at $2,350,000 and all parties traded blows with the property being announced on the market at $2,400,000 before finally seeing the hammer go down at $2,530,000 to a young family.

6 Addison St, Moonee Ponds

Agency: Jellis Craig

Auctioneer: John Morello

Agent’s expected price range: $1,500,000 – $1,600,000

Date: Saturday 1st of July 2017 2:00pm

A crowd numbering 60 people gathered on the tree lined street to witness the auction of ‘Olinda’ which is a 4 bedrooms, 2 bathrooms renovated Victorian residence. With the auctioneer finishing the formalities, the crowd were slow to engage and only after a vendor bid of $1,500,000 did the bidders participate. 2 groups fought for the property right from the start with a range of $5,000 and $10,000 bids. Finally, a third party standing on his own entered the race and beat his competition and securing the property for $1,810,000.