A fiercely contested auction over the weekend saw over 200 bids placed for one of Bondi’s oldest homes.
After an intense 40-minute auction, the hammer came down on a bid of $4,290,000 – almost $700,000 over reserve, leaving the vendors speechless.
“The vendors were actually in shock,” said McGrath listing agent Mark McPherson.
“I walked into the bedroom where the vendors were and the husband was sitting on the bed shaking his head, asking me, ‘Are you sure that was $4.29 million?’”
The 1860’s-built sandstone home is a piece of Bondi history, and, despite its modest façade, the timeless coastal property boats some of the best views around.
“The exterior really defies what’s inside,” said Mr McPherson.
“The aspect and the view are irreplaceable and I think that’s what really stoked the fire and the belly of the two buyers who basically went to war on Saturday!” he said.
With five registered parties, the bidding got underway at $3.5 million and quickly surpassed the $3.6 million reserve before things really started hotting up.
“At $3.9m, two families battled it out with incremental bids ranging from $1k to $20k,” Mr McPherson said.
“They basically stood there and looked at each other and kept on bidding without hesitation.”
“They felt it was worth fighting for and that is blue chip real estate, it is hard to replace that sort of property.”
After pinching themselves, the vendors were left delighted with the sale and are now moving closer to their family in Sydney’s Inner West.
“They’re a lovely couple and it was just a tremendous result for them,” said Mr McPherson.
16 Moore Street, Bondi, NSW 2026