'No pets' rule knocks out bidders for Hawthorn auction tipping competition property

For the many people who were interested in the property at 2/4 Shakespeare Grove Hawthorn there was one thing more important to them than location – their pets. Unusually, the owners’ corporation in this block does not allow pets, and this fact ruled many potential buyers out of contention.

For those who want to have a harmless punt, there's now a tipping website, www.propertytycoon.com.au, where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.

One of the five properties featured in the competition this week is 2/4 Shakespeare Grove, Hawthorn (pictured below).

Luckily for the vendor there was one potential buyer in the crowd of around 50 who was not concerned about the “no pets” clause and threw out the only bid of the auction at $1.56 million. With no other interested parties this buyer secured the right to negotiate exclusively with the vendors.

The vendors obviously knew they were sitting on a very good piece of real estate and extracted more than $100,000 from the buyer before the contacts were signed at $1,685,000.

In Sydney the scene was set for a big auction at 3/10 Ocean Street, Clovelly (pictured below), with six registered bidders and the sight of whales frolicking in the ocean out the front.

The property was quoted at $1 million plus and after an opening bid of $950,000 four of the six registered bidders got involved before the bidding came to a halt at $1.22 million.

This figure was not what the vendor had in mind and the property was passed in and negotiations continued inside. A further $3,000 was extracted from the buyer and the property was formally sold for $1.25 million. Cheers.