Ground truthing auctions in Maroubra

by Zimmermann on May 30, 2021

When we prepare our vendors for their sale, a deliberate and effective method is to ground truth nearby auction results. We observe the auction, take notes, and provide a summary to the vendor.

This recent auction in Maroubra we noted the following:
👉The opening bid of $3.5mil did not work, and quickly re-opened at $3.75mil
👉2 bidders moved the price to $4mil.
👉Now 3 bidders moved the price to $4.1mil
👉A 4th bidder entered at $4.11mil
👉2 dominate bidders moved the price to $4.35mil
👀The property was then passed in.

Written May 2021.

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