Staff Writers

The value of the auction process proved itself recently with a five acre lifestyle block in Julatten marketed by Shane Wight and the team at LJ Hooker attracting a big crowd and ultimately resulting in a sale ‘under the hammer’.

It was a case of shoulder to shoulder for the crowd of buyers and interested onlookers who filled the room to capacity to see how the auction would play out.

By the time proceedings got underway, a whopping 23 prospective buyers had officially registered to bid - either in the room, online, or on the phone with agents.

A flurry of bids were placed before the successful buyer secured the property with bid number 14 that was above the vendor’s reserve price.

In his first call as a newly licenced auctioneer, LJ Hooker’s Shane Wight said he couldn’t have hoped for a better stage or a better result.

“Throughout the duration of the marketing campaign we received 98 buyer enquiries from a range of local, intra and interstate parties so we knew the auction would be well attended,” Shane explained.

“At one of my inspections I had 15 cars at the block, but I’d have to admit, the number of registered bidders did still take us a bit by surprise."

Shane said the success of the sale confirmed the value of the auction process as a transparent means of selling and a very effective means of generating competition between prospective buyers.

“Our successful buyer didn’t show his hand until quite late in the proceedings, but this strategy proved effective as he submitted strong offers after carefully assessing the competition," he said.

“As both the sales agent and auctioneer for the property, it was a pleasure to meet and talk with so many prospective buyers looking to purchase in Julatten and the surrounding area.

"Unfortunately, 22 people missed out on the day so I hope I can help them find properties to purchase in the very near future."

Shane and the LJ Hooker team will look to do it all again at their next auction for Matt Scott that is scheduled for Saturday July 1.