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Vendor Declines Pre-Auction Offer $80,000 Above Asking Price – Results in a Further $35,000 at Auction!

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Three young owner/occupier buyers have duked it out in a phenomenal auction over the weekend, held by Taplin Real Estate’s own Paul Cardone.

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Source: www.taplin.com.au

The property in question, 7 Gower Street Glenelg East, described privately by the auctioneer as;

“Smallish residence circa 1940 with some retention of inherent character features but really needing refurbishment, upgrading and or extension.”

Asked to describe the auction, Tony Tagni (MSAA) the Auctioneer, relived the highlights:

“Approximately 50 person gallery, with 15 bidder registrations. Three actual bidders, possibly as a result of the bold opening bid of $665,000 (Agent price guide $610,000).

Strong decisive bidding by the three participants with opening bidder casting increments above the flow. He was knocked out at the end by winning bid of $725,000, $55,000 above reserve.

(The) vendors were delighted, buyer happy, agent and auctioneer pleased… Wins all round!!!

Classic example of auction power, vendors had been very keen to accept a genuine pre-auction offer of $690,000 which was above their expectations however on their agent’s guidance decided to proceed with auction resulting in a $35,000 windfall.”

Paul Cardone could not be reached for comment in time before publishing.

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