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Auction Snapshot – Saturday 5th of August 2017

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

9 Avalon Road Armadale9 Avalon Road Armadale

Agency: Marshall White

Auctioneer: Justin Long

Time: 10:30am

A substantial crowd of 70 people lined the leafy streets to watch the modern residence go under the hammer. With the sun beginning to warm up the crowd, auctioneer Justin Long finished up his formalities and immediately opened the bidding up with a vendor bid of $4,800,000. A man in a suit flanked by supporters answered the auctioneers calls for bids, with a $5,000,000 opening bid. It took time but his competition eventually appeared in the form of another man on the other side of the crowd. His competition was quick to try and break down the bids, calling for as little as $10,000 bids at the start of the auction. The 2 men battled it out utilising different tactics, one went for large rises whilst the other went for the minimum. With the property announced on the market at $5,420,000, the price continued to climb until it hit $5,840,000 and the opening bidder taking home the keys.

3 Lloyd Street Malvern East

Agency Marshall White

Auctioneer: John Bongiorno

Time: 11:30am

The renovated post war home drew a large crowd of approximately 60 people who packed into the front yard to watch the hammer go down. After auctioneer John Bongiorno handed it over to the crowd for their participation, he was met with silence. A vendor bid was placed at $2,600,000 however still there were no participants. With the crowd silent, the property was formally passed in and the asking price is now $2,850.000.

84 Shields Street Flemington

Agency: Nelson Alexander

Auctioneer: Ryan Currie

Time: 1:00pm

The renovated double fronted Flemington home drew a crowd of 40 which congregated on the sunny street to watch the hammer go down. With a hopeful punter trying to start the auction with a low bid of $1,000,000, auctioneer Ryan Currie responded in turn with a vendor bid at $1,500,000.

Despite the weather and the auctioneer’s enthusiasm, it was difficult to get the crowd energised and only after referring back to the vendor did the bidders emerge. 3 in total participated, a man buying on behalf of another, a couple and a mother all competing simultaneously with the property announced on the market at $1,650,000. All 3 parties continued to battle it out until it became a 2-party race, with the couple becoming the eventual winner at $1,810,000.

42 Edward Street Brunswick

42 Edward Street Brunswick

Agency Nelson Alexander

Auctioneer: Duncan McPherson

Time: 2:00pm

The renovated double fronted period home drew a solid crowd of 50 people. Basking in the mild afternoon sun, they listened to auctioneer Duncan McPherson run through the formalities before handing it over to the crowd. Kicking the bidding off with a vendor bid of $1,400,000, the crowd stood in silence as the participants remained tight lipped. After referring back to the vendors and returning, the crowd still remained silent and with the property about to be passed in, a single genuine bid was placed at $1,425,000. With no further genuine bids, the property was passed in on a single genuine bid and is currently being negotiated.