At the Century 21 Cordeau Marshall auctions last night, held at the Pymble Golf Club, 6 auctions were up for sale with 4 being sold prior to auction. There was standing room only with at least 60 people interested in the remaining 2 properties.
On the first property, 11 Lofberg Road, the bidding started at $650,000 and quickly moved higher in a fierce battle between the online bidder and several onsite bidders. After 8 minutes and 30 seconds, an onsite bidder finally won the property by bidding $950,000 but not before 52 bids had been placed with 14 (27%) of those bids being placed by the online bidder.
On an interesting adjunct, Thomas Skelly the listing agent for both properties, expressed his concerned that one of his onsite bidders would not make the auction as they were stuck in traffic. He then stated – in the future, as an insurance policy and piece of mind, he would get anybody who potentially may be delayed to register to bid live online. The service is free for bidders and gives them the flexibility to bid from anywhere.
The bidding on the second property, 101/1 Jean Wales Ave, was just as fierce. The bidding started at $470,000 and after 7 minutes and 30 seconds the property was finally sold to an onsite bidder for $545,000 after 21 bids had been placed.
Overall there were 73 bids place on the 2 properties at a rate of 4.6 bids per minute and 100% clearance rate. Who said property on the Upper North Shore is not on the move.
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