A firebombed terrace house sparked a bidding war in Sydney today, while the widow of a music industry legend said goodbye to their ‘Camelot’ when it sold for $7.2m.
Latest realestate.com.au auction data shows New South Wales has a clearance rate of 79% for the week to date, from 296 auction results, while Victoria’s preliminary clearance rate currently stands at 76% from 37 available results.
Here’s what happened in the auction capitals today.
This fire-bombed home in Glebe sparked a bidding war today. Picture: realestate.com.au
Sydney
A smoke-stained Glebe house that was randomly firebombed last year attracted 33 registered bidders at auction today, selling for an unexpected sum of $916,000.
The burnt house on Campbell St would require an estimated $100,000 in repairs, but this failed to deter keen buyers.
Selling agent Peter Natoli of Ray White Surry Hills listed the home with a price guide of $700,000 and said bidding was surprisingly competitive given the condition of the home.
In the east, the incredible Vaucluse home of music industry entrepreneur Pete Lusty – who passed away at 49 in March after a battle with cancer – sold at auction today for $7.2m, $200k above reserve.
One of the Vaucluse home’s striking features.
His widow, Georgia Day, made an emotional tribute comparing life at 31 Olola Ave to the 1967 romantic movie, Camelot.
The five-bedroom, four-bathroom ‘Olola House’ was set high on the hill overlooking a pond, pool and the grounds of Vaucluse House.
Four registered parties battled it out for the home, with the winning couple making their one and only bid of $7.2m.
Lusty, who was the co-founder of the independent music company Ivy League Records and management company Winterman & Goldstein, guided rock bands such as The Vines, Jet and Empire of the Sun.
Read here for more Saturday auction coverage from Sydney.
Melbourne
A charming four-bedroom house in Mount Waverley sold above reserve in one of Melbourne’s few auctions today, with six bidders vying for the prize.
Darryl Wickham of Ray White Glen Waverley said 8 Gilbert Court had 16 registered bidders and sold $1,057,000 – above the price guide of $950,000-$1,045,000.
8 Gilbert Court, Mount Waverley sold at auction today. Picture: realestate.com.au
“We were lucky with this one; it went online five days before [stage four] lockdown, which meant five days we could do inspections,” Mr Wickham said.
“It was meant to go to auction next week, but we decided to bring it forward to create enough competition with the buyers who’d seen it.”
In Geelong West, a rundown period house smashed its reserve in a ‘marathon’ online auction today.
The auction at 79 Isabella St, Geelong West, smashed its reserve price by $130,000.
Twelve potential buyers registered to bid for the 417sqm property at 79 Isabella St, held by the same family since the 1880s.
Richardson Newtown agent Matt Poustie took 178 bids — some as small as $100 — before selling the house to a Geelong buyer for $602,500 after a 45-minute battle.
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