bidRhino.com secures $575,000 inaugural online auction success

There was a $575,000 top bid in the online bidRhino.com auction sale of an off the plan apartment in South Melbourne.

Around 600 plus potential buyers had looked before the online auction began on the bidRhino.com online website.

There was an opening bid of $540,000.

There were six bids between two competing parties for the off the plan auction offering at 603/79 Market Street, South Melbourne.

It is a 61 square metre apartment in the ITUM-developed project. 

The initial bid was sought at $530,000 plus with price indications given as $575,000 plus.

The live auction portal aims to revolutionise the property market as residential properties can be listed and potential buyers or tenants can securely bid with just a digital click. 

The opportunity exists to secure an off the plan property in The Walker apartment complex positioned in the heart of South Melbourne, which is due for early 2016 completion.

This apartment comprises two bedrooms, one bathroom, and an open terrace, in the 67 apartment building that has an architecturally adapted heritage façade.

When the auction ended and with the reserve price met, the highest bidder became the successful purchaser.