BOUGHT* - $1,300,000

Bill Stavrakis opened on a vendor bid of $1,100,000 after a great preamble that was unfortunately met with silence. A bidder from the crowd of around 50 people offered another $10,000 and was at first knocked back. But when no other bids were forthcoming, Mr Stavrakis reluctantly accepted the bid in the hope it would kick start the auction. And that it did. Two other parties joined the action, with proceedings finally stopping at $1,200,000 at which point the property was passed in. Bought after for $1,300,000.

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