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Auction Etiquette

On the evening of Thursday, 21st March (the start of the Easter long weekend) there were 2 properties I was interested in, going to auction in-rooms at Doltone House. I rang the agency concerned on Thursday to check that both were going ahead (which they were) and since they won’t tell you the order of the properties I made sure I was there on time at 6.30pm. The properties I was interested in were scheduled at No. 1 and No. 4 (out of 5). The first auction started late at 6:45pm but sold quickly (mortgagee sale), then I had to wait till 7:20pm for No. 4 to be auctioned. As the auctioneer announced the address the agent for this particular property walked up to the auctioneer and whispered in his ear…next minute the auctioneer announces that the property has been withdrawn from auction.

What a waste of time! I could have been halfway to my holiday house by that stage. I was furious, as you can all probably tell. Why cancel an auction a minute before it starts? Why make us all wait? I don’t see any reason to do this besides bad PR. Why not just have the auction? What is the worst thing that can happen? No bids? This is exactly what happened with the previous auction. You never know who is in the audience waiting to bid. The owner has spent the money on the campaign, the auctioneer still gets paid. I think you should never cancel an auction. I will never forget the property I auctioned several years ago where I had no serious interest, the auction was about to start, passerby stops with his dog and asks what price range, comes in, checks it out, goes back home (up the street), gets his cheque book and a few minutes later has himself a new home, SOLD under the hammer!

What do you think?

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Action Packed Auction Tracking

With thirteen properties scheduled for auction on the 1st of March, Beach & Bay has been hard at work trying to provide the most up to date information for you.

Three properties were sold prior, with 1/3 Parramatta grabbing $385,000, 67 Pacific $670,000 and 29 Harris $1 Mil. We have also heard it through the grapevine that the auction at 9 Bonnie Doon Pl Burraneer has been cancelled. It has been great receiving input from the public and please keep it coming.

Happy Bidding!

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Auction Figures

There were 6 properties that went to auction on Saturday in our focus area, 2 were cancelled, 1 sold prior, 3 passed in and 2 of these sold soon after the auction. According to the Sun Herald Domain (17.02.08), Sydney wide there were 223 auctions and a clearance rate of 51.9%. This week we are tracking 21 auctions! Just to confirm Beach & Bay is covering the suburbs of Cronulla, Burraneer, Woolooware, Caringbah, Dolans Bay, Lilli Pilli and Port Hacking. For ease of reference we have divided the suburbs of Cronulla, Woolooware and Caringbah into north and south, with the dividing road being Kingsway. We are not saying these properties are in Cronulla South or Cronulla North for example, but to make it easier and quicker to for users to search. More suburbs to follow…

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