Auction

Results from our Auction Event 9 April

As with past weeks our 9 April portfolio attracted a large crowd that filled the Headsail Room, the main function room of the Bucklands Beach Yacht Club and the home of Ray White auctions.

As we have reported during recent weeks, the numbers of people that have been attending each week apart from our vendors and those who have registered to bid, is testimony to the interest in what is currently happening to the real estate market.

Vendors who had carefully considered the buyer price feedback prior to the auction were well-rewarded with their properties selling under the hammer and achieving an unconditional sale.

This portfolio resulted in very pleasing under the hammer sales for the properties where we had identified bidding interest; however for some properties we are still negotiating post auction to try and achieve vendors’ price expectations, and the balance of the portfolio attracted conditional buying interest.

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 client vendors.

There are specific reasons why a property is not able to be sold under the hammer at auction even though we have bidding interest during the auction – so a “sold” or “not sold” doesn’t tell an accurate story.

Highlights from last evening “under the hammer” sales were:
1F/ 12 Selwyn Road, Cockle Bay – $570,000
3 Mimosa Place, Half Moon Bay – $1,750,000 after some 22 bids
23 Brooke Ridge Rise, East Tamaki Heights – $1,545,000
110 Pah Road, Cockle Bay – $1,060,000 after 13 bids
15 Point View Link, East Tamaki Heights – $1,520,000 after 23 bids

Ken Ralph
Company Auctioneer