July 15, 2017 | Auction Snapshot – Saturday 15th of July 2017
Our team was out in force at auctions today and wanted to report on some of the activity.
27 Leander Road Footscray
Agency: Village Real Estate
Auctioneer: Gerard Hannan
60 people shivered through the cold morning to watch the auction of the single fronted Victorian. Village Real Estate’s Gerald Hannan had no trouble warming up the crowd and not long after the formalities were finished did the bidding start. Kicking off with a vendor bid at $850,000, 2 parties fought it out seeing the price rise quickly until it was announced on the market at $935,000. With one party bowing out at $970,000, a Buyers Advocate joined the fray. With a series of confident $1,000 rises, the Advocate took the final price of the property to $991,000 and secured it.
3 Millicent Avenue Toorak
Agency: Kay & Burton
Auctioneer Gerald Delany
A large crowd lined the street of Millicent Avenue to watch the sale of the elegant period home. Auctioneer Gerald Delany delivered the formalities quickly as he knew that the Millicent Avenue property needed no introduction.
Handing it over to the crowd, he was met with silence which forced him to place an opening vendor bid of $2,800,000. With the crowd tight lipped, the agents referred back to the vendor and upon their return, the action finally started. 2 parties engaged, traded bids and the property was announced on the market at $3,000,000. With consistent bidding from both parties, the price continued to climb until the hammer fell at $3,210,000. The Auctioneer and crowd then welcomed Toorak’s newest residents.
3 Hampton Court Ivanhoe
Auctioneer: James Davies
A crowd numbering in the 60’s lined the streets of the quiet cul-de-sac in Ivanhoe. Once the formalities had been completed, the auctioneer immediately opened the auction up with a vendor bid of $2,200,000 before handing it over the crowd for their participation.
The auctioneer had his work cut out for him as the bidders refused to engage, forcing the auction to drag out. His persistence paid off with a young couple jumping in at $2,225,000. Immediately after, a Buyers Advocate responded with a $25,000 rise. The two parties traded $25,000 rises and not long after, the property was announced on the market at $2,350,000.
With both parties now playing for keeps, only one further bid of $10,000 followed from the Buyers Advocate which in turn pushed the young couple out of the race. The hammer fell and the Advocate secured the property for $2,360,000.
74 Aberdeen Street Prahran
Agency Hocking Stuart
Auctioneer: Andrew James
With crowds in the 70’s filling the narrow street, it seemed as though the cleverly designed Prahran home was going to sell quickly. With the auctioneer finishing the formalities, he enthusiastically passed it onto the crowd for their participation. With bidding starting at $1,250,000 , 2 parties traded blows seeing the price climb to $1,360,000 before one of the parties bowed out. Despite this, the property was still not declared on the market and with no further bidding, the property was passed into the hands of the highest bidder at $1,360,000. After negotiations, the property later sold for $1,402,500.