Battle of the Gaza sees sale $585,000 over reserve at West Ryde auction
Jonathan ChancellorDecember 7, 2020
The weekend auction offering at 13 Gaza Road, West Ryde fetched $1,785,000, which was some $585,000 over reserve.
About 100 people watched as 12 registrants battled it out.
Bidding started at $1 million and moved slowly in $10,000 and $20,000 increments until the reserve of $1,200,000.
The next $500,000 was varied in bids of $5,000 and $1,000 all the way to the end through Auction Services.
"Too many bids to count but at a guess over 100 easily," auctioneer Rocky Bartaolotto said.
"While a handful of properties had fewer than five bidders per property, the majority on Saturday had significantly higher - some well over double figures.
"Overall as a result the average registered buyers across our auctions this weekend was showed a large increase from 8.3 bidders last week to almost 10 bidders per property.
"An incredible jump week to week," he said.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
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