oc | Tuesday 7th April

13 Toorak Avenue, TOORAK

13 Toorak Avenue, TOORAK

Under Hammer
BOUGHT* - $5,733,000
I counted about 80 or so people gathered around the backyard swimming pool at 11:30am this morning. Four Marshall White agents were dispersed amongst the crowd. The fifth agent was Justin Long, our auctioneer. His preamble was brief and he opened with a vendor bid of $4.5m before asking for bids. Bidder 1 offered $50,000. Bidder 2 tried to offer $10,000. This resulted in a discussion with the auctioneer about what would be acceptable increments now and later after if it was announced on the market, none of us thought these “discussions” would be continuing over an hour later. The bidding went up slowly with Bidder 2 continually typing on his phone and continually asking if it was on the market. When it reached $5m Justin announced the property was on the market. But from here, the slow pace continued and the increments decreased to $2,500. At $5,151,000 Justin suggested he was going to count it down to be sold and surprise – Bidder 3 entered the fray. But alas, he only competed with Bidder 1 for a short while. At $5,210,000 people started leaving the auction. I tried to forget the afternoon opens I was now going to miss and started taking photos of the “lucky ones” – those who arrived early and got the poolside seats. The ping pong bidding between Bidders 1 and 2 kept going and going. The increments went down to $500. Bidder 2’s bidding was proving frustrating and unpredictable. Bidding 1 was sometimes taking Justin’s advice. I filmed the "going once, going twice" countdown eight times before I gave up. Justin took obvious control at certain times by laying down minimum bidding rules and all the while not losing the steady momentum for his vendors. But who would be the first to stop today? All I knew for sure was that it wasn’t going to be the auctioneer. He almost lost his voice and whilst his colleagues brought him two glasses of water, the bidding continued – albeit slowly. As we watched Bidder 2 hold the highest bid and Justin promise to sell the home soon, Bidder 2’s entourage started to leave the scene. What? Who was he bidding for? Did it matter? I think tenacity paid off. Bidder 2 bought this home at 12:45pm.
Saturday 22 April 2017, 11:30 AM
Justin Long, Marshall White - ARMADALE
Richard Mackinnon, Marshall White - ARMADALE
$4,500,000(Vendor Bid)
Under Hammer

Gina Kantzas
It's not rocket science or open heart surgery. Anybody can stuff up homebuying.
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