3 Merton Place, ALBERT PARK


3 Merton Place, ALBERT PARK

BOUGHT* - $1,750,000
A small crowd gathered in this small street to watch the auction of this small home. When our Auctioneer Tony Pride asked for an opening bid, he was met with a $1,600,000 bid. He asked for a $5,000 rise and it was taken up by Bidder 2. Bidder 1 asked if it was on the market and Tony said, 'No'. These two bidders kept bidding in similar increments while continuing to ask if it had reached the reserve yet. Each time Tony answered, 'No'. At $1,705,000, Bidder 1 referred to the $1,450,000 quote and asked why it wasn’t on the market – Tony responded with a suggestion that he was going to pass it in if Bidder 1 didn’t immediately bid. Bidder 1 put in another bid. The managing agent Margaret Duncan and Tony went inside at $1,725,000 and upon their return, Tony announced the reserve was going to be $1,750,000 and that he was going to pass it in. Bidder 1 (who was representing an investor client) took instructions and walked away as Tony asked for further bidding. The property was passed in at $1,725,000 to Bidder 2.
2
Saturday 28 October 2017, 12:30 PM
Tony Pride, Pride Real Estate - St Kilda
Margaret Duncan, Pride Real Estate - St Kilda
$1,600,000
$1,725,000
After Auction
2
25
Expected/Normal


Gina Kantzas
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