Auction

Results from our 3 September Auction

Our 3 September portfolio was our 31st portfolio for this year, and like last week with eight properties, formed a smaller portfolio than previous weeks. However, to the end of September our auction portfolio numbers were 26% ahead of the numbers we had last year at the same time, giving buyers outstanding buying opportunities and vendors opportunities to sell on a totally unconditional basis.

A large crowd filled the Headsail room of the Bucklands Beach Yacht Club, the home of Ray White Auctions, either to take part in the buying process for the properties within this auction portfolio or to see what is selling for what price to get an idea of what is happening very currently in the real estate market.

Highlights included the sale under the hammer of :

  • 14 Darion Drive at $1,280,000
  • 24 Lexington Drive sold immediately post auction after considerable negotiations with the highest bidder, selling in the high $1 millions

Some vendors are not always able to accept buyers’ expectations of price for various reasons, but auction marketing is a very positive way of testing the market in a defined space of time in order to determine if the buyers’ price will enable them to make the lifestyle/property change that they envisage.

We are still working with buyer interest for the remainder of the portfolio.
In addition to the comments above, there are always various reasons why potential buyers cannot meet the terms of an Auction For Sale and Purchase Agreement which is a totally unconditional agreement, however, we try to work with these potential buyers to attract the best conditional sale for our vendor clients.

Ken Ralph
Auction Services Manager