An auction for a Sandgate home was so evenly matched that both competing bidders were pushed to the absolute threshold of what they were willing to spend.
The sunny Saturday morning saw more than a dozen people turn out to the house at 49 Wakefield St, and eight registered bidders had their eyes on taking the home for themselves.
49 Wakefield Street, Sandgate. Picture: Nicholas Finch
The four-bedroom, two-bathroom home is 650 metres away from Sandgate Beach, and has its second level entirely made for the master bedroom overlooking the garden.
The auction was conducted in the garden, with bidders and onlookers standing under the shade of the covered deck while they put in their offers. Around four active bidders put their hands up for the home, with two calling over the phone throughout the event.
With a starting bid of $900,000, bidding began very slowly, with only two bids before the auctioneer had to pause the event.
It was only when the bid was raised from $1.185 million to $1.225 million did the event really pick up, once the home was put on the market.
The property was being highly valued for its location to the beach, as well as its lush garden out the back. Picture: Nicholas Finch
Suddenly, two bidders were going neck and neck to get the home, one over the phone and one at the property. Dozens of increases were made by $1,000 a time, with the price slowly climbing as each bidder tried to price the other out.
Even after one bidder made a Hail Mary of $10,000, going to $1.3 million, the competition didn’t stop. It was only after a final raise of $5,000 did the home sell, going to the in-person bidder for $1.31 million.
Ray White Bridgeman Downs agent Sonya Treloar said the underbidder was being represented by a buyers agent, who was consulting with them as they bid over the phone.
“This buyer here just outbid them,” she said. “We were a thousand dollars apart – that’s how close we were.”
Ms Treloar said the old owners, a young couple, were very happy with how the sale went.
“They’re moving closer to their workplace, but they’ve loved living here,” she said.
The new homeowners feel like the property doesn’t need renovations to make this their perfect family home. Picture: Nicholas Finch
The new buyers are a family of first homeowners, and the bidder said they were ecstatic to get a property so close to the water.
“We’ve got two young kids, so we’ll be staying here for at least 10-15 years,” he said.
He said the auction brought the family to the limit of what they were willing to spend on the home, with their price capped right at their final bid.
“To be honest, if the other party went another $1,000, $2,000, I wouldn’t have gone any further,” he said.
“It’s the high end of our budget … but overall, we’re really happy with the house.”
English (US) · 