Under the hammer in a spring market frenzy
A day in the life of a busy Sydney auctioneer means battling traffic, dodging inclement weather and dealing with a host of emotions.
It's eight hours of shouting at crowds, mentally juggling million-dollar figures, zigzagging through Saturday traffic and battling unpredictable weather, but it's all in a day's work for Sydney auctioneers.
After a decade in business, Damien Cooley has gone from being a one-man auction band in the eastern suburbs to a team of a dozen auctioneers that spread the length and breadth of Sydney and the south coast.
Last Saturday 10 auctioneers from Cooley Auctions had a list of 90 properties to put under the hammer and reached a 74 per cent clearance rate, on par with wider Sydney's rate for the weekend.
Cooley said despite each auctioneer being booked for a job every 45 minutes, and a strategic plan put in place well in advance, there will always be unforeseen hiccups on auction day.
On Saturday there were thunderstorms, major road closures, noisy pets, emotional owners and even a visit from Cooley's mum to contend with all under the hammer.
A day in the life of a Sydney auctioneer in one of the busiest spring markets since the 2008 GFC.
5.30am
Wakes up and goes for a short run to get the blood pumping for the long day ahead.
7am
Leaves home.
7.20am
Arrives at the car wash for a piccolo coffee, a read of the papers and an early morning catch up with several agents to discuss the market and what the day has in store.
8.00am
Heads to the Cooley Auctions office in Double Bay to pick up his assistant.
8.30am
Zips across town to the first auction of the day and Sydney's Saturday morning traffic is already heating up.
9am
345 Malabar Rd, Maroubra is a three-bedroom deceased estate in desperate need of renovation. A crowd of curious neighbours, dog walkers and potential buyers has started to gather at the empty property which has the bonus of a pigeon coop out the back.
Cooley declares the auction under way and invites bids.
"Ladies and gentlemen, I don't mind too much where we start this morning. Are there any offers?"
After six minutes a vendor bid of $1.05 million is made, but the home passes in.
9.45am
88 Boronia St, Redfern is a one-bedroom dilapidated house with no bathroom, a shower in the kitchen, toilet in the yard. Tipped to be a hot auction, television camera crews are on site to see what price the city-fringe renovator's delight will fetch.
For 65 years, the property was home to loved local Clive Tremaine who recently passed away, but whose cat has been communally adopted by the Boronia St neighbourhood and makes an appearance at the auction.
Six registered bidders were keen to buy the deceased estate which had a set reserve of $640,000. It sells quickly under the hammer for $730,000.
10am
On the road again, Cooley gathers results from his team and starts a live rolling clearance rate and updates via social media.
10.30am
2 Ripon Way, Rosebery was home to friends of the extended Cooley family who themselves have resided in Rosebery for decades. Not only is Cooley auctioning the Fordward family home, who have known him since birth, his mother has come along to watch.
"You have some tense auctions and then you have ones like this. It's not every day your mum is in the crowd," he said.
The chance of making a big sale in front of friends and family eludes Cooley as the three-bedroom house passes in at $1.64 million. However, by 5pm Saturday, Tony and Margaret Fordward sold their home of 62 years for $1.65 million after post auction negotiations.
11.15am
30 Fischer St, Kingsford, a near-new contemporary house with five bedrooms, has a crowd of about 50 gathered in the living room as rain pours down outside, but only two bidders registered.
The vendors, who are overseas, watch the auction unfold via Skype.
After a stalled start Cooley attempts to draw an offer from the group.
"I can't start the bidding for you ladies and gentlemen."
Breaking the tension, a child's balloon pops and a small dog in the entrance starts barking.
An initial bid of $1.68 million leads to an eventual sale at $1.806 million.
12.45pm
8/6 Cross St, Pyrmont is a two-bedroom apartment with harbour views and a rooftop terrace. Shouting over thunder and crashing rain, Cooley takes an initial bid of $850,000.
"It's a bit lower than we would have liked," he says and then coaxes bids up to a sale at $947,000.
1.30pm
703/425 Bourke St, Surry Hills, a one-bedroom unit with parking passes in at $640,000, despite a handful of bids by three registered bidders.
2pm
Lunch and a phone catch up with the team.
3pm
1/251 Oberon St, Coogee is a three-bedroom beachfront apartment that gets no registered bidders and passes in with a vendor bid of $1.35 million.
3.45pm
28 Cope St, Redfern is a tiny, but renovated two-bedroom terrace house on just 57sq m. A crowd of more than 30 people and four registered bidders have turned out and bids begin at $750,000.
Cooley takes a series of quick fire bids until the final call at $818,000.
Frustrated first homebuyer, Lucienne Thompson just missed out on the property she had hoped to call home along with a flatmate to help pay the hefty mortgage.
"I live nearby at the moment and love this area because it's so central," she said.
"It's pretty nervewracking how the prices around here keep going up. That was my first auction and it was pretty stressful," she said.
Ms Thompson's mother, Wendy Donkin, said it had become almost impossible for a first-time buyer to get onto the property ladder.
"Prices are so high now, but it's the stamp duty and the mortgage insurance that's the problem. It's just all too much for them to pay upfront," she said.
4.30pm
220 Johnston St, Annandale has been home to the Cini family since their arrival from Malta in the mid 1960s and was purchased for 6000 pounds. Five registered bidders made more than 20 bids on the rundown property which eventually sold for $1.46 million to Margeaux Rolleston, long-time partner of celebrated musician Ian Moss of Cold Chisel fame.
"I needed a good project and this is it," Ms Rolleston said.
Mary DeBono, the eldest of nine Cini children who grew up in the Annandale house is there with several family members.
"I just can't believe it! It sold for so much money, my parents just wouldn't ever have thought it could be worth this one day," she said in tears.
5.15pm
The final auction for the day has been withdrawn so Cooley heads back to the office.
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