Last week’s auction of 5 Antares Court in Torquay saw the property hotly contested to achieve $192,000 above the reserve.
This four bedroom, two bathroom home nestled privately in a quiet court was brought to market by Ferris Gold with a reserve of $925,000 and, as the hammer fell, a thrilled Camberwell couple secured the property for $1,117,000.
With more than 100 people in attendance, Ferris Gold’s auctioneer Phil De Fegely took the first bid at $910,000 to then see five bidders actively contest the auction.
Director Michael Ferris said in this current environment, why wouldn’t you auction a property?
“With the vendors being happy at $925,000 and happy at $965,000 we thought we would get into the million range which would have made them even happier,” Mr Ferris said.
“To get the result of $192,000 above reserve and to have 77 groups through – that’s groups, not people, it was awesome.
“There was undoubtedly a local interest in the property, but the majority of inquiry came from Melbourne-based buyers who showed some experience in the auction environment.
“With the current demand for coastal properties, I think you would be unwise to sell off-market.”