The vendor owned three houses in the Charming Street neighbourhood, and sold number 22 for a loss after listing it with a published $1 reserve price.
He paid $5 million for the winning property in the Charming Street season.Businessman Adrian Portelli has sold one of the Hampton East houses he purchased on The Block for $3,245,000, incurring a $1,055,000 loss at auction.had been listed with a token reserve price of $1, and drew 208 registrations of interest, 178 who expressed interest in bidding online and 30 in person.
Freelance auctioneer Tom Panos took about a dozen bids until the price reached $1 million. At $2.2m Panos told the bidder they’d reached the “half-price” mark.When the price reached $3,050,000, Portelli called out “I’ll leave the coffee machine in there!” to the enthusiastic crowd.“Let it go!” Portelli said, with a wave of his hand.The auction was thirty minutes from start to finish.
“ it was a normal home in Hampton East, $3 million is very hard to get to. And it got more than that. So we’re very delighted.” Hill said.By evening, Domain Group recorded a preliminary auction clearance rate of 68 per cent from 578 reported results, while 55 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.sold for $210,000 more than its $3.8 million dollar reserve, for $4,010,000.
Two others were interested but didn’t put their hand up. One party didn’t have finance ready and the other were downsizers, Jellis Craig Fitzroy listing agent Johanna Doherty said.
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