Buyer tactics drags out auction as Newtown riverside house passes in before selling
Slow bidding catches on as buyers take their time at auction of renovated riverside precinct home in Newtown.
Slow bidding from two buyers turned a Newtown auction into a stand-off worthy of a spaghetti western.
The pair joined Buxton auctioneer Tom Butters as the three protagonists in the auction that lasted more than 20 minutes at 94 Buckingham Rd.
Despite the epic auction, the property was passed in for $960,000 and sold immediately after for $975,000, selling agent Christine Allison said.
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“We were pretty close, we ended up bringing the people inside to get it done and they were thrilled,” Ms Allison said.
“They’re locals, a young family who had been trying to get into the area for a while.”
The renovated and extended three-bedroom house is close to the Barwon River amid a manicured garden.
Updates included a kitchen with a central island bench, pantry, ample cupboards and stainless-steel European appliances adjoining the dining area and living room that lead to a deck through bi-folding doors.
Two bathrooms were also updated, while the house features three internal living zones, plus the covered outdoor entertainment area.
Ms Allison said the bidders decided to take as much time as they needed as the auction progressed.
“The lady in front would bid, the second guy would give a bid and then Tom would go back to her and call for $5000 and she’d say, ‘no, I’ll wait’,” she said.
“Tom would do the countdown and then she would come in.
“Then the other guy thought that was a good idea and he would say ‘No, I’ll wait’ and Tom would do the countdown again.”
Ms Allison said the agents stepped inside several times to keep the vendors abreast of matters.
“The vendors reserve never changed and I never asked them to.
“It was an interesting tactic from both the purchasers.”
Originally published as Buyer tactics drags out auction as Newtown riverside house passes in before selling