Chat with us, powered by LiveChatLockdown eve auctions: Sunshine sellers’ bold move pays off

Lockdown eve auctions: Sunshine sellers’ bold move pays off

Mix of strategies key to Sunshine lockdown success

Bringing forward auctions with little notice is ‘risky’ but ultimately the move paid off for two Sunshine vendors.

With a snap lockdown looming, Barry Plant Sunshine advised the home sellers to go to auction on the evening of July 15.

As the agency preferred “face-to-face auctions rather than via Zoom”, it brought forward the auctions that were scheduled for the July 17 Super Saturday, according to Barry Plant Sunshine director Jason Allen.

“We contacted the buyers and they turned up to bid, which built competition and resulted in strong results,” he said.

“The sellers thought it was a risky move but we knew there were buyers, and we convinced them to go ahead.”

In an auction held in the living room of 61 Cornwall Road, Sunshine, the first bid of $670,000 was bettered by a $120,000 rise to $790,000.

“This was a power move by a buyer but the auction was won by another bidder who was a late entrant,” Mr Allen said.

The winning bid gave the sellers of the three-bedroom house a $838,000 result – well above their expectations.

“It went to a first-home buyer whose mother encouraged them and gave them money to continue bidding,” Mr Allen said.

In the second auction that night, 3 Adina Court, Sunshine West, fetched $720,000 – also above the seller’s expectations.

The agency also contacted buyers for several other properties up for auction, which were sold via negotiations. Buyers were found for all the properties scheduled for auction on July 17.

Among these was 99 Anderson Road, Sunshine, and negotiations with several buyers yielded a $951,500 result.

“We asked the buyers to present their best offer and we got a good price for the property located on a main road,” Mr Allen said.

Despite the latest lockdowns, properties in the area are selling well because of buyer demand and limited supply, according to Mr Allen.

“We expect more properties to come on to the market and will be working with a lot of potential sellers after the lockdown,” he added.

Demand from buyers from the agency’s database also led to the recent off-market sale of 10 Gibb Street, Maidstone,which fetched $1.1 million or 10 per cent above the seller’s expectations.

The two-bedroom house on a block with development potential attracted competition from two buyers.