Our 25 January portfolio was the first for 2021 and included a “bumper” 20 properties across our residential areas of Pakuranga, Farm Cove, Half Moon Bay, Bucklands Beach, Howick, Botany Downs, Golflands, Highland Park, Dannemora, Flat Bush, and also, Mt Wellington.
There has been speculative comment on the number of auctions within this 1st portfolio, however,
Auction Marketing/ Auctions are not a “special event” for our Company as we auction every week throughout the year. Auction marketing has been an important part of our marketing for over some 23 years and the Howick office had an established auction culture prior to franchising some 30 years ago. We have been at the Bucklands Beach Yacht Club, which is a superb venue, for at least some 15 years.
We always start auction programmes as soon as possible post New Year. However this year, our sales team, particularly our progressive sales people, together with their vendor clients anticipated that the pre-Christmas buyer activity would be looking to new listings at the start of the New Year. As a result, our 1st portfolio was more substantial than other years.
The Headsail Room at the Bucklands Beach Yacht Club, the home of Ray White Auctions, attracted an extremely pleasing number of people. Those attending included people who had registered bidding interest, those who had expressed conditional buying interest and obviously quite a number of people who came along to see what is selling and for what price at this start in 2021, to give an idea of what is happening very currently in the real estate market.
Very active bidding and a very pleasing level of “under the hammer” sales was clearly evident.
The bidding for 27 Eiger Place started at the preauction offer at $1,600,000 and after some 30 competitive bids sold “under the hammer” at $1,880,000
There were many highlights throughout the evening:
Bidding was evident for 4 properties that did not sell “under the hammer”. However, we have to accept that vendors determine whether the last bid price will enable them to achieve the reason for their decision to sell.
At the time of writing this report further properties are still under active negotiation, for the balance of the portfolio, to effect a successful sale for our vendors.
19 Sharples Place in Somerville was brought forward from its designated 4 February auction date due to an unconditional preauction offer that was accepted by the vendor subject to the property being submitted to auction at the earlier auction date.
Bidding commenced at the preauction of $1,460,000 and after some 11 competitive bids sold “under the hammer” at $1,620,000.
So, after three plus weeks of marketing, in some cases a marketing period of less than three weeks, there has been some extremely pleasing, positive and competitive bidding with great results for our vendors whose properties sold under the hammer. It needs to be acknowledged that the sales provided buyers with an opportunity to buy quality real estate assets knowing that while having to competitively bid/ buy to be the “winner” they were bidding/buying property that was also the first choice for a number of other buyers.
The prices achieved confirmed our ability to maximise price for our vendors, however, to achieve such results, buyer interest, bidding registrations and actual competitive bidding are the components to achieving great results.
Auction Services Manager