Over $10m was raised for a charity at a heartwarming sale in Clovelly on Saturday morning in the highlight of Sydney’s Valentine’s Day auctions.
The home on Surfside Ave belonged to the late Dr Karen Duggan, a cardiovascular physician and researcher, who passed away two years ago at the age of 72.
Dr Duggan, who inherited the property from her late parents Andy and Jess, bequeathed the sale price of the home to The Smith Family, a children’s education charity she had supported for 30 years.
The crowd watches on at a Clovelly auction where the proceeds go entirely to charity. Picture: Rohan Kelly
The sale also saw listing agent Alexander Phillips of PPD donating his commission to the cause.
Education was a big part of Dr Duggan’s life, having been an associate professor of medicine at UNSW for over a decade.
Dr Duggan also co-founded Vectus Biosystems, a research and development company focused on finding treatments for fibrosis and high blood pressure.
A sizeable crowd formed for the auction, including Dr Duggan’s friends and family, interested
buyers, locals and representatives of The Smith Family.
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Clarence White oversaw the auction, which saw $10.425m donated to The Smith Family charity. Picture: Rohan Kelly
Eight bidders were registered for the auction, five of which would go on to be active.
There was a buzz around the backyard where the sale was held, be it from the coffee van, the presence of television crews, or simply the excitement of seeing millions go to charity.
The auction shot open with a bid of $8m, immediately clearing the home’s $7.75m guide.
A beautifully maintained five-bedroom home with direct access to Clovelly Beach, it was no wonder bids came in thick and fast for the property.
Action began to slow around the $10m mark, before the hammer fell at $10.425m.
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The home at Surfside Ave, Clovelly, had been in the same family since the 1950s.
The home most recently belonged to the late Dr Karen Duggan.
Dr Duggan’s cousin, Russell Graves, the executor of the sale, was emotional at the conclusion of the auction.
“It’s been an intense few hours,” he said.
“It’s stirred up the good times with not only Karen but her parents, so I’m really remembering all of my family today.”
Mr Graves said Dr Duggan and her parents had a passion for education and a giving spirit.
“Karen was a very generous woman, the one that always organised the family reunions,” he said.
“I think it was a no-brainer that Karen would leave the house she grew up to something like The Smith Family.”
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The Smith Family CEO Doug Taylor (left) said the auction left behind a “powerful legacy” for the Duggan family. Picture: Supplied
The Smith Family CEO Doug Taylor said the sale of the home would help to support nearly 1,300 students over the next five years.
“That’s almost like supporting a whole school,” he said.
“It’s a powerful legacy to leave for Dr. Karen Duggan and her parents, who have had that home since the 50s.”
The Smith Family provides financial support for education-related expenses like school uniforms, books and laptops to disadvantaged children.
“We also have a team of workers in 90 communities across the country and their focus is supporting parents’ care as they face challenges in life,” Mr Taylor said.
“We help to ensure they’re in the best possible position to support their child’s education.”
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The winning bidders were represented by buyers’ agent Perry Preziusi (pictured holding paddle). Picture: Rohan Kelly
The auction was won by a local couple with two young children, who were represented by buyer’s agent Perry Preziusi.
Mr Preziusi said his quick-response bidding helped him to seal the result.
“An auction is like a war,” he said.
“You don’t want to hesitate.”
Mr Preziusi said he was not surprised by the auction’s outcome, as he thought the price may have risen as high as $11m.
Mr Graves said it was nice to see a young family purchase the home.
“I think they’ll have the time of their life,” he said.
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The view from 111/21 East Crescent Street, McMahons Point, which sold for $2.405m.
Elsewhere, a McMahons Point penthouse went under the hammer for the first time in 50 years yesterday, selling for $2.405m.
The two-bedroom unit, which offers extraordinary, unimpeded views of the Sydney Harbour, cleared its reserve by $205,000.
Six bidders were active at the auction at 21 East Crescent St, which saw a new record price set for the building, according to Annika Bongiorno of McGrath McMahons Point.
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This home on Marden St, Georges Hall sold for $280,000 above reserve.
To the south west, the sale of 10 Marden St, Georges Hall showed the strength of the Canterbury-Bankstown market, where the median house price has climbed 10.7 per cent in the last year.
The three-bedroom home was sold for $1.48m by Jordon Le Breux of Ray White Bankstown.
Seven bidders were registered for the auction, which saw the home clear its reserve by $280,000.
According to Mr Le Breux, the vendor is downsizing and moving to Canberra.
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