Andrew Hayne (Marshall White) basks in the Spring sunshine - and the sale of 24 Netherlee St, Glen Iris. Bought under the hammer, $2,660,000, five bidders.

Key Points:

• We covered seven auctions in Stonnington on Saturday. Of those, four sold under the hammer and two after auction.
• Big crowds across the board, all auctions had in excess of 50 people.

Biggest Auction of the Day: 24 Somers Ave, Malvern, Jeremy Fox, RT Edgar, Under the Hammer, $6,160,000.
“The sunfilled courtyard seemed a perfect setting for the Somers Avenue auction, with the lovely weather attracting a generous crowd of interested parties and onlookers alike. No initial bids when asked.  Auctioneer Jeremy Fox went inside to check with his vendors on two occasions. There was a feeling of anticipation amongst the crowd, until the property was declared ‘on the market’ at $5,650,000.  A real buzz.  Fast and furious bidding between two bidders to the end.  The look of relief was evident on the face of the successful bidder! An exciting end.  A truly impressive auction result!” (Nikki Hills)

Bidderbuzz Auction of the Day: 24 Netherlee St, Glen Iris, Andrew Hayne, Marshall White, Bought Under the Hammer, $2,660,000, 5 bidders
“With the sun poking through on this mild Saturday morning, auctioneer Andrew Hayne kicked off proceedings with a vendor bid of $1,800,000. Within seconds, two bidders began battling for the property and they were joined by several more moments later. There was a jovial atmosphere in the crowd of around 100 people as Mr. Hayne poked fun at the bidders. The bidding came down to two parties who went back and forth, and who alone raised the price by $400,000. There were 5 bidding parties, but only two at the end. The Property was sold for $2,660,000 under hammer, which appeared to be above expectations. The gentleman with the final bid received rousing applause from the crowd and congratulations from his main rival.” (Daniel Ehrenreich)

Agent Q & A: What are your views on pricing?

Andrew Hayne, Marshall White, Armadale:“My view is that across the board all homes have to be competitively priced in order to gain maximum interest from as many buyers as possible. The more buyers that are interested in the property, the greater the opportunity of getting a better price.”

John Bongiorno, Marshall White:“Good family homes always sell well – floor plans can be fixed. It provides exciting opportunities. Always boils down to the position of the property, orientation and workability. People nowadays have a lot of imagination. A lot of houses get rid of the small rooms and now have extended living areas, such as kitchens and family rooms. People aren’t afraid to do the renovations. So long as location is good, people are willing to buy and are happy to renovate if necessary.”

James Connell, Marshall White : “Still good demand for quality positions. If the property has a poor plan and poor location, the market judges it harshly.”

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