8 Ferrars Place, SOUTH MELBOURNE


8 Ferrars Place, SOUTH MELBOURNE

BOUGHT* - $4,100,000
Autumn clouds gathered as a large crowd of about 90 people spilled into the park across the road. This was a well dressed and, dare I say it, well heeled, mainly middle-aged crowd. Although I anticipated a quick start, auctioneer Greg Hocking was met with silence when he called for bids after his enthusiastic preamble. Mr Hocking reminded the quiet crowd that this was the audience participation part of the auction and started things off with a vendor bid of $3,800,000. Just as Mr Hocking began to count down the property to pass it in, Bidder 1 quietly raised a hand with a bid of $20,000. Despite Mr Hocking's quick wit and enthusiasm, no further bids were forthcoming and he retired inside for a quick chat to the vendor. Upon his return, Mr Hocking made it clear that the property would be passed into Bidder 1 and again began to count down the property. On his final call Bidder 2 and then Bidder 3 quickly added bids of $20,000 each. At a quick clip the bidding, between $5000 and $20,000, bounced between the three bidders with Mr Hocking's encouragement. At one point Mr Hocking suggested that buyers should remember that they were 'investing, not spending money'. Throughout the auction Bidder 1 was tenacious; never hesitating to maintain the lead. At $4,100,000 Bidder 1 was at last successful and the property was bought.
3
Saturday 27 May 2017, 1:30 PM
Greg Hocking, Greg Hocking Holdsworth - Albert Park
Sam Paynter, Greg Hocking Holdsworth - Albert Park
$3,800,000(Vendor Bid)
$3,980,000
Under Hammer
3
90
Expected/Normal


Kathy Russell
Camberwell client asked us to make a pre auction offer @ $4,000,000 plus.
We advised no and bought at auction for $1,000,000 less.
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