There was a surprisingly big crowd at Barfoot & Thompson’s regular apartment auction this week, but most attendees weren’t there to buy an apartment.
The first lot on the Order of Sale wasn’t an apartment, but a house in New Lynn, and that’s what most of those who turned up were there to buy.
The house was nothing remarkable, it had three bedrooms, a single detached garage and sat on a 696 square metre section.
It had been in the same ownership since it was built in the mid-1950s and was ready for a makeover.
But the bidding for it was intense and at one stage the bids were coming so quickly that the auctioneer could barely keep up.
The bidding opened at $500,000 and quickly progressed past $600,000, then $700,000, then $800,000 before the property was sold under the hammer for $826,000.
Although most of the crowd dispersed after the first property was sold, those who stayed on for the three CBD apartments that were offered next weren’t just window shopping.
All three apartments attracted multiple bids and they all sold under the hammer.
It was a quieter day at Ray White City Apartments where a single property was offered – a two bedroom apartment in the Nautilus building at Orewa which had two car parks and extensive sea views.
This building is in the throes of substantial remediation work and the auction documents stated that the occupiers would need to vacate the unit for at least six months from about the end of September.
There were no bids on the property and it was passed in for sale by negotiation.
The details of all the properties offered at both auctions and the prices achieved for those that sold are available on our Residential Auction Results page.
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