bears quibbling about a vendor bid....look at this for a 'gotcha moment'
I went to an auction in Sth Yarra many years ago.... with a genuine interest in buying that property....on an advertised price of $400,000-$440000....it was just a small non-descript 3 bedder.. 100 years plus on a corner block, on a busy street....I would have to spend plus of $100,000 to make it liveable the bidding got to $439,000 ...there was a tv crew on site...think it was the year 2000 just after the stock market crash... hence the media interest...and plummeting housing prices in light of the stock market crash.... the story was never aired to my knowledge.... due to the results.... about 10 or more enthuisiatic bidders.... then out of the blue this old woman...plus 65 years old...put up a bid of $660,000 ..... totally blew us all out of the water.... I still have no idea, what the deal was, or why..... I did hear later...that after the auction...thieves went in and stole all 3 of the mantlepieces..... but what the hell....the real price was around the $450,000 mark....as reflected in the subsequent prices since then.... a family tiff....????? who knows...but it did escalate the median prices for old ordinary 3 bedders for the area for the next few years....
for all I know, she may have been a family of PI's with several properties on the market....manipulating the market... but in that area....it had been overrun with awful 60's style cheap units....so it was never going to affect the whole 3 bedder market in that vicinity... thought the bears would love this story... as evidence of a conspiracy theory...for future reference
duh...she did her money on that one....family tiff, or manipulation or not
