Auctioneer: Kaine Lanyon
BOUGHT* – $1,085,000
Crowd Numbers: 60
Auction Vibe: Strong
Biggest sale in Port Phillip on Sat, 16/06/2012
A crowd of over 60 gathered to see if this 1930s semi would have a new owner by the end of the day. The opening bid of $875,000 was less than auctioneer Kaine Lanyon wanted to see, but it was accepted before a vendor bid of $950,000 was placed. The initial bidder tried to place a bid of a further $5,000, but $20,000 was requested to keep things going. With no other bids forthcoming, $960,000 was accepted from the first bidder, and a second bidder then offered another $10,000 to join the action. A third bidder jumped in with $980,000 but this was to be his only offer on the day. Despite continued calls for $5,000 bid increments, the auctioneer stood his ground and the bidding got to $1,000,000 when a forth potential buyer came forward. After referral to the vendor $5,000 bids were accepted, and the second bidder was happy to move at this pace. However, the last bidder had the final say with a bid of $1,015,000, at which the property was finally passed in. Bought after auction.
Source and more information: James Market News