Many sellers and agents dodged the Melbourne Cup weekend, with less than 300 properties going under the hammer across the city as people enjoyed their time off.
But an agent in Melbourne’s east did the opposite, deliberately deciding to auction on the quiet weekend in a cheeky ploy to get the best result for his vendor.
Barry Plant Doncaster East agent Mark Di Giulio said the auction of 36 Manningham Rd, Bulleen was held on the Cup weekend to offset traffic sound.
“Being a main road property, it’s obviously going to attract a little bit of noise, so we thought to auction on the long weekend, when there’s less people on the roads,” he said.
The tactic paid off with three groups competing for the keys in the rain.
“It was pouring down rain on a main road, on a long weekend – so we were up against it,” Mr Di Giulio said.
A couple in the hospitality industry bought the house shortly after it passed in on their $870,000 bid on October 2.
The sale price was negotiated up to $910,000 in exchange for a longer settlement, as the buyers looked to sell their own property, Mr Di Giulio said.
“Settlement was used as leverage to get a better sale.
“In order to get that long settlement to have the flexibility of time – they were happy to pay for it.”
The couple only came to the auction because they had a rare long weekend off work, Mr Di Giulio said.
“It was only the fourth or fifth house they looked at – they had their pre-approvals ready to go. There was no mucking around.”
Determined downsizers and young families ensured a Box Hill townhouse soared over $200,000 above reserve.
Five groups competed for the keys to 1/17 Parkside Ave, which sold for $1,284,500 under the hammer to a downsizer.
The property’s prized location, walking distance to Box Hill Central, was a key attraction for buyers, Noel Jones Box Hill agent Angela Athanasiadis said.
“We felt we’d have a sale but we never thought we would achieve that price,” Ms Athanasiadis said.
“All five bidders were women and they contested against each other quite vigorously.”
Just one investor bid at the property, dropping out early on as strong bidding increments up to $20,000 kept the auction’s pace up.
Ms Athanasiadis said the vendors couldn’t be more thrilled with the result, having been unsure about selling.
“They’re very happy with how it played out: way above what their expectation was,” Ms Athanasiadis said. “They’d been um-ing and ah-ing for the last two or three years about putting it on the market.”
Well maintained 1920s character proved popular with three groups at a Vermont auction on October 2.
No. 9 Frances Ave sold for $1.56 million to a family moving from Craigieburn to live closer to their daughter.
Jellis Craig Whitehorse agent Adrian Nyariri said it was a strategic decision to hold the auction during the traditionally quiet weekend.
“Being Melbourne Cup weekend, the buyers that really want to buy just turn up,” Mr Nyariri said.
“It was bucketing down as well — we love that at an auction because it means people get on with it.”