Sheik's Godolphin racing team offloads Mosman trophy home

Godolphin, the international horse empire of the Dubai Sheik Mohammed bin Rashid al-Maktoum, scheduled a 9am Saturday auction morning to offload its redundant Mosman trophy home.

The early start, given a coffee shot for attendees from realestate.com.au’s mobile coffee cart, was scheduled as the racing enthusiasts had a runner in the first at Royal Randwick. The Orlando Avenue home had been bought in 2016 for $5 million for then managing director Henry Plumptre, who departed in 2017 for Waikato’s Cambridge Stud.

The cul-de-sac Federation four-bedroom, two-bathroom home attracted seven registered parties. The stone kitchen and informal living area open to an alfresco space with kitchen and pool.

BradfieldCleary Double Bay agents Bob Guth and Sam Green took a $4 million opening bid.

Announced on the market by auctioneer Mark Daley at $4,425,000, it sold to the opening bidder — who had come from Bronte — at $4.45 million.

Auction is certainly a worthy tactic as time-to-sell spirals with a saturated private treaty market of unsold pricey offerings. Prices in Sydney’s upper end have also been hit by a 12 per cent price fall.

From oceanfront homes to CBD penthouses, beachfronts and rural getaways, offerings are aplenty.

Agents report ­little pressure to sell by these well-heeled vendors, and their lenders, but buyers might just be able to secure a bargain as the richlister loses patience.

Meanwhile Guth watched Bivouac win the first, then Microphone take the Inglis Sires for Godolphin, and Multaja take the last with the Godolphin track earnings on the day of $1.66 million.