oc | Monday 24th February

3 - 5 Rimington Avenue, KEW


3 - 5 Rimington Avenue, KEW


Under Hammer
5425000
1
BOUGHT* - $5,425,000
The sun finally made an appearance, with the auction being held on the tennis court. Auctioneer Campbell Ward opened by calling out “1978” referring to the year that an Australian last won the Australian Open. The auction of the dual-titled property would be sprinkled throughout with snippets of tennis talk. Activity from the crowd started off slow; at one point Mr Ward called out “14 minutes left before the rain comes“ and talked about the many schools in the suburb, a major reason why it’s so popular with families. He then touched on the endless possibilities for this property (for example expansion, redevelopment, investment) However, people were reluctant to speak up so Mr Ward placed a $5,000,000 vendor bid to begin; followed by a second vendor bid of $5,100,000. With activity still non-existent the half-time break occurred. After returning, Mr Ward reminded the crowd of the importance of bidding to be in the running. Finally somebody raised their hand with a $5,150,000 bid to kick things off. At the beginning Mr Ward had called for $100,000 rises, but these wouldn’t eventuate. Bidding instead progressed in a two-horse race with considerably smaller rises, the increments getting smaller as time went on. “We’re in a recession, it’s meant to be a bargain” one audience member quipped. The 14-minute rain predictor proved accurate - the sun disappeared and the rain returned, and with bidding activity now in full swing, it was necessary to move the auction inside, causing another stall in the proceedings. When the price reached $5,415,000 the house was declared on the market. A few small bidding increments between the two bidders later, it was “Game, set and match” with the hammer falling at $5,425,000.
2
Saturday 26 October 2019, 2:00 PM
Campbell Ward, Jellis Craig - Hawthorn
Richard Winneke, Jellis Craig - Glen Iris
$5,000,000 - $5,500,000
$5,000,000(Vendor Bid)
$5,415,000
Under Hammer
2
50
Expected/Normal


Jo Gallagher
You bid $3,500,000 with an agent on another home and now you're looking at a $2,800,000 home.
What price will the agent tell you $3,500,000 or $2,800,000?
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