AFTER a heart-racing auction — that had to be stopped because nobody could keep up with the frenzied bidding — a three-bedroom Lilyfield home has sold for $565,000 above reserve.
As fast and furious as a livestock auction, the double-fronted Federation home at 17 Campbell Ave hit the reserve in the second bid.
Twenty-five minutes and 101 bids later, the marathon of clustered sprint-style bidding finished at $2,865,000.
Callagher head auctioneer David Giezekamp turned into a master mathematician, adding up the erratic bids between three of the 10 registered families.
The freestanding period home with three bedrooms, two bathrooms and two parking spaces on 470sqm of land was popular with families for potential and ample living space.
A crowd of 70 was silenced as the opening offer of $2.1 million was instantaneously topped with $200,000 more.
The competition was between an unknown buyer (who was using a buyer’s advocate) who first inspected the morning of the auction, a Lilyfield family who are upsizing and a Leichhardt family.
They all barely drew breath, consistently trying to knock each other out with various increments until it momentarily stopped at $2.63 million for everyone to confirm the amount.
A neighbour asked cheekily, “but is it on the market?” with Mr Giezekamp laughing in reply “well and truly”.
Off and racing again with inconsistent small bids mostly under $5000, it was a battle between the buyer’s advocate and the Leichhardt resident.
It almost sold to the buyer’s advocate at $2.86 million but five bids later it went to the Leichhardt man upsizing with his family.
Callagher agent James Burke who had more than 90 groups inspect the property said it was a fantastic result for a tightly held dress circle offering.
Originally published as Frenzied bidding for Lilyfield house