Don’t Brighton people like the smell of a mortgagee auction in the afternoon and they have come in droves at the smell of blood - and when I say droves I mean that. At over 120, this is one of the bigger Golden Mile crowds you will see and with David Hart punching out a good tune it seems to have all the ingredients for a good auction.
The home itself is a modern but unfinished work and is for sale under instructions from the NAB.
And so David says we are away - and he asks for a start. Some bozo (that’s a technical auction term) throws out a bid of $2,000,000 and it's refused and a start is asked for in the mid $3,000,000.
He doesn't get that - but he does get a bid at $3,000,000 and immediately counteracts with a $3,500,000 vendor bid.
Finally a $3,600,000 bid and a second bidder at $3,650,000. They take it to $4,000,000 between the two of them.
Some pausing and we are to $4,100,000 and then slowly to $4,250,000 and it's on the market at $4,300,000 - after the question has been asked several times.
At $4,350,000 there is some pausing and we are down to $10,000s.
David is doing a good job keeping a slowish but firm bidding auction moving along in small bids and we are at $4,400,000 in small increments.
Then a solid up-bid comes from Bidder One in at $4,450,000 and it seems to have knocked the stuffing out of the other bidder.
But after an eternity another $10,000 is eked out by David and then another good up bid to $4,500,000. Some humor and some theatre and Bidder Two returns with a $10,000 and Bidder One up bids again at $4,550,000. Looks like this time he is finished and he is.
But in comes Bidder Three and offers another $20,000 to $4,570,000.
Surely he couldn't get it on one bid and he didn't.
Two more bids and it's knocked down at $4,620,000 - no its not!!!
Two quick bids and we are $4,720,000 - not sure anymore if it's over and guess what it isn't.
Again this is where David does his job very well - he keeps a difficult high end auction ticking along nicely and he has eased the two remaining bidders to $4,830,000.
Nice work - but I get the feeling it's not over and guess what it isn't and we are $4,900,000 and that is where we end - that is all she wrote and some spontaneous applause follows.
That result is a pretty clear statement on where the ultra top end market may be going – upwards in interest but sideways, even backwards in price.
A word of caution this was an unfinished home and they tend to not punch above their weight in price.
Thank you all for your assistance in purchasing our home in Brighton (wow, what a location!). Dear Mal & Kristen, As buyers sitting in Houston, Texas, your advice, honest feedback, support and guidance meant we were very confident spending more money that we ever have on a property as we felt we really understood what the value was better than for any of our other 10 or so purchases over the years.
I liked the way you w...