757 Ferntree Gully Road, Wheelers Hill took as long to sell as the movie Toy Story.
Real estate fans were reaching for the popcorn as hammer time turned into a movie-length feature in Wheelers Hill over the weekend.
The 81-minute auction for 757 Ferntree Gully Road had the same run time as animated classic Toy Story, with agents left wondering if it really could go to infinity and beyond as it surged past its reserve.
The result emerged on a weekend when 55 per cent of the about 70 homes auctioned across Melbourne sold, according to preliminary realestate.com.au figures.
RELATED: Linton weekender of Joseph Zbukvic sells in just four days
Bilingual school catchments increase home values: Deakin University study
Coronavirus: Lenders scrutinise buyers in pandemic affected industries
But while the four-bedroom house’s sale had a happy ending, it started off as more of a thriller with a $650,000 opening bid far below the $810,000 bottom of the home’s range.
It was even called on the market at $790,000 as bidders kept on in small increments.
Inside the four-bedroom house.
“It was turning into a little bit of a movie session,” said Ray White Glen Waverley’s Cristine Jones.
“Some of the people had cameras on and were getting lunch or a drink.
“But there was a lot of intensity and a lot of action, some of the increments were between $500 and $1000.
“It could have pulled up at $700,000, but there was no scary part.”
Even Buzz Lightyear would have been watching the clock on this auction.
The house sold for $880,000, a hefty $90,000 more than the home’s $790,000 reserve price after seven groups bid.
Four of the bidders, including the eventual buyer, had never seen the house in person — unable to inspect due to COVID-19 restrictions.
The home comes with a backyard pool.
The buyers plan to transform the deceased estate into a new home.
Ms Jones said it was ironically because of COVID-19 that they had been able to run an auction for 81 minutes.
“There was nowhere else to rush off to, so it was quite a different feeling, experiencing it running along,” she said.
The buyer has long-term plans to start again with a new build on the block.
Ms Jones said up to five bidders had been fairly common for homes auctioned since March this year, and to have two or three who hadn’t visited the home was also increasingly common — particularly for investors and redevelopment opportunities.
With high demand and limited homes for sale, now was an opportune time to sell a home — despite the current lockdown, she said.
MORE: Regional Victoria’s most in-demand suburbs: Geelong in buyers’ sights
Upcycled Ventnor dream home has wagon wheel chandeliers
The Block 2020 episode 4 recap: Shaynna blasts WA couple for ignoring the brief
The post Wheelers Hill movie-length auction goes $90k past reserve appeared first on realestate.com.au.