BOUGHT* RANGE - $1,480,360 - $1,649,855

The crowd of 20, many of whom were neighbours, stood talking in a series of huddles as they waited for the auction to commence. A genuine bid of $1,400,000 opened proceedings and auctioneer Oliver Bruce followed with a vendor bid of $1,450,000, looking for $10,000 rises. A second bidder soon joined the mix and a steady stream of bidding between the two followed. The price reached $1,540,000 and, falling short of the reserve, the property was passed in. Bought after for an undisclosed amount.

2