jutmeister,Just to clarify, are you suggesting that the REIV is...

jutmeister,

Just to clarify, are you suggesting that the REIV is involved in fraudulent activities?

"Smells more of a desperate real estate industry trying to save some face in a very negative situation."

Smells to me like a desperate robobear trying to grasp for a negative in the situation.

All we can comment on is that the transaction has happened...that is the suggested fact.

The fact that it sold for more than the reserve post auction is not a rare occurence, and also... PS is always a better way to close a house deal in this sort of market.

Auctions are only any good if the market is booming... In fact, I have not been able to understand how auctions are seen as the 'norm'... Clearance rates for instance should not be used for or against a quality housing market.

That has just been used by the RE industry to help push up prices through over emotion of in experienced buyers on the day....

I would never sell at an auction, especially in this market.