Bulls avert your eyes or have your stress pills handy as you...

Bulls avert your eyes or have your stress pills handy as you won't like what I have to report.

Tonight I attended an auction in Sydney for a Newtown property, 107 Darley St. As many of you may recall this property was mentioned back in early January when it had a price tag of 839K. The price moved down to 818k not long after, didn't sell and was subsequently withdrawn from the market.

This is actually a really nice home, beautiful interior and in a good street.

Recently the property was re marketed culminating in tonight's auction. The auctioneer called for offers of 780K, 770K, and stopped at 750K thinking there would surely be an offer at this level.....a pin dropping would have been deafening at this point...but nothing happened! No bid, no lower offer, nothing, so the auctioneer had no option but to pass the property in.

This was quite surprising even to a hardened bear.