Successful auction bidding on behalf of UK client

We were recently engaged by a Kiwi couple living in London who wanted to secure a property in Northcote, Auckland.

They had identified two properties. We attended the first auction on their behalf. While we were bidding in the middle of the day they were sipping hot chocolate before bed. We were the underbidder on the first property.

They then instructed us to bid on the second property. The bidding started low and we bided time before entering the bidding. As the price rose to close to expected sell price we were one of only two bidders, and then the other bidder pulled out. The auctioneer conferred to his vendor and then came to ask us for more money – we gave him a token amount and there was no discussion – we were familiar to the auctioneer and he knew he wouldn’t be able to move us. The bidding was reopened and our competing bidder reentered the bidding.  We created the “unexpected” by jumping the bidding to an irregular amount.

The result? Our client now owns that property and will soon move in to it to start a family.

Published on Tuesday, July 9th, 2013, under Examples, Residential

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