$3.5m in few months

[steveadl]

Anyway what happened was a woman payed the $8.5 for it on auction day, then a few months later, someone who missed out at the auction offered her $12, which she obviously accepted.

So why did the 2nd buyer who was obviously willing to go a LOT higher than what it sold at auction for, stand by and stop bidding? Why would he let the woman get it for $8.5M when he was presumably willing to go as high at $12M? Unless you mean 'missed the auction' as opposed to 'missed out at the auction'?

 

[Sheryn]

So why did the 2nd buyer who was obviously willing to go a LOT higher than what it sold at auction for, stand by and stop bidding? Why would he let the woman get it for $8.5M when he was presumably willing to go as high at $12M? Unless you mean 'missed the auction' as opposed to 'missed out at the auction'?

My suggestion would be that the second buyer didn't have the money in his hand at the time the auction was conducted eg he or she waiting on selling a business or property.


Cheers
Sheryn

 

[craigb]

it was june right in the middle of the GFC, almost nobody had money at that time,
but if you followed this guy and bought some of his fire sales you would be retired today,

 

[Aaron Sice]

i think we found our new perma-bear.

 

[Kath Russell]

.....and yet there is a queue a mile long for people clamouring to hand over 4m or more to buy the smallest piece of Peppy Grove.

When I worked in these suburbs, there were more silent listings & waiting lists than I've seen in any real estate office I've worked for.

I guess all those wives of CEOs who insist on living there so little Sophie and Claudia can walk to PLC and they can do coffee, whilst their husbands "do whatever they do" aren't listening to you meconium.

I guess those same wives never look at economic graphs or affordability curves. They just keep on bidding the prices higher and the hubby just keeps on working

It's pretty sad, but I've seen it. Obviously it's not the case of every buy & sell, but I remember sitting in the office when a co-workers husband walked in the office to tell her he'd just bought them their m2 of Peppy Grove. I couldn't believe her reaction. She was ecstatic. I don't think in my lifetime, I have ever seen ANYONE so excited about something (except for my kids bless 'em).

No tall poppy syndrome here, I'm just commenting on what I've seen & experienced. Yes, there are mature aged residents who've been there since the 40's & to them it's just where they live. I have family & friends close by & they're the same. It's just where they live.

Peppy Grove has always been, and will probably continue to be one of those 'society suburbs'.