By Sarah Webb
In a move that felt straight out of Melbourne’s lockdown days, a three-bedroom Californian cottage in Coburg sold under the hammer in an online auction on Saturday, transporting bidders back in time to the days of muted mics and virtual bids.
With Melbourne emptying for an extra long weekend for those rostering Monday off, Ray White’s Raphael Calik-Houston dusted off his webcam and brought the auction of 124 Barrow Street to the screen in a calculated bet that paid off – selling to a first home buyer for $1,065,000.
The home, which sits on a 353 square metre block, was dubbed a “renovator’s delight” and drew a small virtual crowd of seven, with three buyers turning on their mics and cameras. It had a price guide of $900,000 to $990,000 and a reserve of $1.01 million.
A buyer’s agent seated next to the first home buyer opened bidding at $900,000 and after a brief pause, bids rose in $10,000 increments. Handling every challenge with a rapid counter, she led the auction charge in the final $20,000 with the underbidder, a first-timer, in a battle of $5000 bids.
Calik-Houston said it was a stellar result, proving that Tuesday’s race that stops the nation couldn’t stop buyer appetite. In an even more impressive twist, he said it was their second crack at auctioning the home after a failed first attempt.
“We actually had it a higher price guide of $1 million to $1.1 million the first time round, but it ended up being an onsite auction for the birds,” he said.
“So we reduced the price guide and we got fresh and engaged faces and it ended up selling in the original price range.”
The Coburg home was one of 266 scheduled auctions in Melbourne on Saturday. By evening, Domain Group recorded a preliminary auction clearance rate based on auctions throughout the week of 63.3 per cent from 392 reported results, while 43 auctions were withdrawn. Withdrawn auctions are counted as unsold properties when calculating the clearance rate.
In a heart-warming auction of firsts, a first-time auctioneer helped a young buyer secure his very first home in Port Melbourne on Saturday.
The two-bedroom unit at 3/169 Albert Street was described as little more than a shell of a home in need of a full revamp, but despite that, the sale price soared past the $460,000 reserve to reach $505,000. It had a price guide of $450,000 to $475,000.
“It was an absolute cracker,” said Frank Callaghan Jr. of Frank Gordon Estate Agents. “This was actually my first-ever auction … and we had a big turnout despite the long weekend. There were four active bidders and three were first home buyers.”
Callaghan said bidding kicked off at $430,000, with the unit called on the market at $468,000. An eye-watering 40 bids were thrown down and the crowd erupted into applause when it sold.
“The winner was a local who lives with mum and dad, and they were there helping him. He was so excited to get it,” said Callaghan.
“It was a real fixer-upper and a blank canvas.“
In South Yarra, a two-bedroom townhouse at 9/28 Tivoli Place became the prize in yet another first home buyer showdown, selling under the hammer for $1,072,000, above its $1 million reserve.
The home – held by the vendor for over a decade – features a private courtyard garden and a prime location near Chapel Street. It had a price guide of $950,000 to $1 million.
Bidding opened at $950,000 and quickly surged to the reserve. From there, the pace shifted, with bids dropping to as low as $1000 increments.
PROAuctioneer Simon Graf, from Simon Graf Real Estate, selling off 9/28 Tivoli Place, South Yarra, which had a guide of $950,000 to $1 million.Credit: JOE ARMAO
Simon Graf of the eponymous real estate firm said it was a top result in a market where first home buyers ruled.
He added the home’s “hybrid” appeal – between a unit and a house – and the calculated auction timing fuelled the result.
“Derby Day is historically a quieter weekend, which means it offers a nice gap in the market. So we took a bit of a stance and it paid off,” he said.
In Thomastown, a young couple looking to upgrade clinched the keys to a three-bedroom house owned by an old school mate. The tidy property, at 24 Chapman Ave, sold for $730,000, just over its $720,000 reserve, in front of a large crowd.
Perched on a 546 square metre block, it features landscaped gardens and had a price guide of $630,000 to $670,000.
A vendor bid of $630,000 kick-started the auction and encouraged the two active punters to dive in and exchange a flurry of bids until it was passed in at $700,000 – selling shortly after.
Colin Abbas of Jellis Craig said the surprising connection between all parties made the auction memorable.
Get the day’s breaking news, entertainment ideas and a long read to enjoy. Sign up to receive our Evening Edition newsletter.
clarification
This story has been updated to show the auction clearance rate is based on auctions conducted throughout the whole week.