61% Clearance Rate
$680,667 Average Sale Price
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Auction Results Saturday 16th, Sunday 17th
(Data supplied by the Society of Auctioneers & Appraisers, 19/4/2016)
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“Play by Play” Auctions Report
The Iconic Prices Fresh Bakery commercial site went under the hammer Wednesday 13th April. Excellent long term tenant paying just over $105,000 per annum including gst. Savills Adelaide offered 544-546 Port Road Allenby Gardens with auction heavy weight Brett Roenfeldt running proceedings. Good interest and strong bidding saw the property being sold in excess of $1.4 million dollars.
Saturday saw an interesting example of why a quality auctioneer always “Holds Over” an auction and never “passes in” a property.
First auction of the day at Brighton with Jarrah Holmes (Century 21 Bayside) 2 bidders bidding to $515k a little far away from vendors reserve. We “held over” the highest bid and went to negotiate. A curious onlooker says to me “your not going to sell it at $515k are you?” I advised the lady to register and then reopened the auction, which I can do as the auction was held over (essentially paused). Bidding continues and the property was sold to the late bidder who in fact registered after the auction was finished and purchased the property for $533k. She was over the moon as too were the vendors. Effectively the lesson to learn here is that if the property was passed in then the ladies offer would be subject to a cooling off period.
Best buying of the weekend was offered by Eriks Draiska (Plaza Real Estate) 18 Oradala Crescent Salisbury Heights. An exclusive precinct in Adelaide’s North. Substantial 300m2 6 bedroom home on over 3000 m2 of flat useable land. Sold for $1,200,000 in 2009 and needed some maintenance but sold by a motivated vendor for $810,000 on Saturday afternoon. It pays to keep an eye on the local auction circuit because there always presents opportunity for value buying.
From the Field – Jonathon Moore
Punters were up early on Saturday for the Auction at 3 Gawler St, Woodville West.
8 parties were reregistered to bid for the 1925 built Character bungalow, positioned on a generous allotment of 760m2.
Over 60 groups inspected the property over the 3 week marketing campaign conducted by Mark Bowden from Ray White Woodville.
Over 70 people were in attendance, made up by a large gallery of locals.
Bidding started at $500,000 and in a matter of 5 minutes, 4 parties had fought it out to sell at $615,000.
POWER fans were out for the auction of 53 Coburg road Alberton.
Sitting on a compact block of 447m2 as the property had been sub divided, the home offered a very versatile floor plan.
A solid brick extension certainly offered great value to the home, with a new bathroom & kitchen/meal which flowed out to the raised outside decking.
2 parties were registered with bidding starting at $400,000 and finishing at $430,000 some 3 bids later.
We negotiated with the highest bidder, 1 on 1 and gently move to $440,000 then $445,000 up to $450,000 and eventually finishing and selling at $455,000.
The first home buyer was extremely thrilled as to the vendors and agents.
A small crowd of 17 gathered for the auction of 37 Margaret St Kidman Park.
Situated in a quiet cul-de-sac opposite a park, the home offered duel living for an extended family.
2 registered parties but only 1 actually bidder who started at $520,000.
A vendor bid was placed at $550,000 then $560,000 was placed from the opening bidder.
Well below the reserve, negotiations started.
Over a period of 10 minutes, back and forth from the bidder to the seller, the home eventually sold for $592,000