47 Howe Crescent, SOUTH MELBOURNE

47 Howe Crescent, SOUTH MELBOURNE

BOUGHT* RANGE - $4,379,200 - $4,880,600
As I waited with the ever increasing crowd I could hear murmurs of renovation plans left and right for this period terrace that was built over 150 years ago. Auctioneer Damian O'Sullivan was quick to get the auction underway with an opening vendor bid of $4,000,000, asking for bids of $50,000. Bidders 1 and then 2 quickly obliged. Bidder 3 boldly stepped forth with a $150,000 bid, taking it up to $4,350,000. At this point Bidder 1 was poker-faced and Bidder 2 wanted to know if the property was on the market. Seeking instructions from the vendor, Mr O'Sullivan stepped inside. Upon his return, he announced that the home was close to, but not yet at the reserve. Bidder 1 added $10,000 that was quickly matched by Bidder 3. When Bidder 1 then made a $5000 bid, Bidder 3 responded with a bold bid of $25,000, taking the price to $4,400,000. It seemed this show of strength was enough to silence all other bidders. The property was passed in to Bidder 3 who then successfully purchased the property for an undisclosed price during negotiations.
Saturday 27 May 2017, 2:30 PM
Damian O'Sullivan, Marshall White - Albert Park
Adrian Wood, Marshall White - Albert Park
$4,000,000(Vendor Bid)
After Auction

Kathy Russell
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