The Renoavtors ambitiously seek secrecy on auction results
The first two of the six auction offerings that precede the October finale of the Channel Ten series The Renovators have been put to auction. The other four houses also face the auction reality test this week.
The Century 21 listing agents are under confidentiality agreements until the October 9 auction screening finale. And even those who attended the onsite auctions have been asked to keep the prices under wraps. The sale amount over the undisclosed reserves goes into the collective prize pool for the eventual winner to keep. While the auctions were underway some 803,000 viewers were tuned into the latest elimination. Melbourne’s audience was the highest at 302,000, followed by Sydney’s 164,000 and Brisbane’s 162,000.
SPOILER ALERT
Suggesting Sydney’s spring sales market is a pricing test, both did sell, but barely above cost price. The weatherboard, at 51 Franklin Street, Parramatta, was sold at an auction with 100-plus attendees for $575,000. It had been bought at $460,500, with stamp duty taking it to $478,000. It had been in the same family for five decades. It is now a modern family home with three bedrooms, two bathrooms with an entertaining space and backyard area. Its renovation budget was $95,000, making the breakeven point before its auction campaign conveyancing costs $573,000.
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