Auction results through the roof
There was no doubt that 58 Pellisier Rd, Putney, would sell on the day.
Agent Joseph Mazar from Ray White — Gladesville and Ryde knew he had half-a-dozen bidders committed to the auction of the three-level house with a boatshed and slipway on Morrisons Bay.
What he wasn’t so sure about was the sale price, which he thought might fall somewhere in the mid-to-high $4 millions.
He certainly did not expect 12 registered bidders or for the hammer to fall at $5.5 million — a staggering $800,000 above a $4.7 million reserve.
Mr Mazar was circumspect about an outcome clearly out of step with the current market.
“A rare commodity likes this always defies the odds and gets buyers’ blood boiling,” Mr Mazar said.
“The auction became a competition. It was all about who wanted the property more and who had the money to buy it.”
The auction took 25 minutes in which 46 bids were made.
Most bidders dropped out around $4 million to $4.5 million when it came down to three.
The new owners are a family from Putney who outbid buyers from Ryde.
It was the end of a 32-year connection to the property for the Barnes family.
The late Harold Barnes, who ran a fleet of taxis from his eponymous centre at Hurlstone Park, fulfilled his dream of owning a house on the waterfront when he and his wife Robyn bought the 1100sqm property in 1987.
A five-bedroom double-brick brick residence was built on the site opposite Putney Park. The rear of the house enjoys a sunny north-easterly aspect and peaceful views across the bay.
Mr Barnes’ daughter Danielle recalled her teenage years kicking a soccer ball around the nearby sports field at Morrison Bay Park with her sister Samantha.
She also explained how the property’s off-street parking for up to nine cars, including a five-car garage, once housed Harold’s classic American car collection.
Before the auction of 25 Anthony Rd, West Ryde, McGrath — Ryde agent Michael Dowling talked to a serious buyer who couldn’t make it because of personal reasons.
“We went in to negotiate and came away with a quick verbal offer of $2.1 million,” Mr Dowling said of his “just in case” plan if the property failed to sell under the hammer.
He need not have worried.
After eight registrations, bidding on the pristine family home with a separate granny flat that is a walk to West Ryde station started at $1.9 million.
Soon after, a reserve of $2.075 million was overtaken. Two buyers were left after the $2.5 million mark came and went.
“The last $100,000 or so was made up of $5000 and $1000 increments,” Mr Dowling said.
After a gruelling 45 minutes, the property sold for a sky high $2.624 million, an impressive $500,000 over the reserve.
“There is not a lot on the market that is comparable to this property,” Mr Dowling said.
“The demand is strong when you sell something as rare as this, even in a down market.”
The new owners are a family from West Ryde while the underbidders are from Denistone.
“They knew there was nothing out there that was similar so they had to put their best foot forward.”
Both Mr Dowling and Mr Mazar said their buyers threw everything at thorough marketing campaigns, which influenced two cracking sale prices.
“The buyers trusted us to spend a little bit more on marketing to get the return,” Mr Dowling said. His vendors added a Facebook and video campaign to the marketing of the six-bedroom residence on 973.77 block.
Mr Mazar said, “It was a team effort from the vendors, the agent and the auctioneer.
“You can’t just show up on the day and hope for the best.”