It went $600,000 over reserve – the vendors would have taken $200,000 below reserve. They were prepared to take $5 million. They had a reserve of $5.2 million and it sold for $5.8 million.
It was really strange. The bids were at $5.65 million. It looked all done. The auctioneer said “Are you done?” and one bidder said, “Have you asked me if I’ve given my best bid yet?”He went from $5.65 million to $5.8 million. The final increment was $150,000. The previous bid was a rise of $50,000. We had an expat Australian who had flown in – he was the underbidder – and a person who’d been missing out for more than a year in the area and thought “I’m not missing out again”.
Despite the falling market, bidders were willing to slug it out for a property that had potential and a good position on a good street.
What kind of moron pays $6mio to live in Haberfield? Let me guess...some Chinese investor laundering money.
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