The Block Triple Threat Auction Results
- Thread starter Tim86
- Start date
It's a pity the true finished costs of the complete Reno from purchasing the property to the fall of the hammer are not available to the viewers.
I would guess that money was actually lost in the end.
The reserves were way to low, and yes the show had to make up for the fall out from last seasons losses. I too hope we have seen the last of the D s
Cheers
yadreamin
I would guess that money was actually lost in the end.
The reserves were way to low, and yes the show had to make up for the fall out from last seasons losses. I too hope we have seen the last of the D s
Cheers
yadreamin
Another business I am involved in was a supplier to the show of a service and dealt with the female contestants mostly , Dee was by far the most accommodating and made everyone feel welcome and did lots of social media to help the business without even being asked. Anastasia was very cautious and reserved with our employees early but came out of her shell once she got to know them. Was chain smoking the whole time though!
i was wondering why no-one popped a little juliet balcony from their master suites out over the terrace....
http://www.propertyobserver.com.au/...k-s-south-yarra-initial-purchase-auction.html
The Block before it got renovated sold for 5.69M.
Yet the reserves were set;
Apartment 1 - $1.39M
Apartment 2 - $1.42M
Apartment 3 - $1.335M
Apartment 4 - $1.445M
Total = $5.59M
Selling over reserves yes they did but the reserves were not set at a reasonable amount.
I could of sold the property for $2M over reserve if they set the reserve at $1...
As always it is where you finish that counts not where you start.
Also having multiple buyers agents there and yet a BA would bid way over reserve on a first bid, surely this would scream unrealistic reserves.
E.g. Apartment 1
Reserve ? $1,390,000
Opening bid - $1,900,000
Sale price - $2,200,000
If they set the reserves at 2.1M for all then one wouldn't of sold and the others would still get 100k.
The Block before it got renovated sold for 5.69M.
Yet the reserves were set;
Apartment 1 - $1.39M
Apartment 2 - $1.42M
Apartment 3 - $1.335M
Apartment 4 - $1.445M
Total = $5.59M
Selling over reserves yes they did but the reserves were not set at a reasonable amount.
I could of sold the property for $2M over reserve if they set the reserve at $1...
As always it is where you finish that counts not where you start.
Also having multiple buyers agents there and yet a BA would bid way over reserve on a first bid, surely this would scream unrealistic reserves.
E.g. Apartment 1
Reserve ? $1,390,000
Opening bid - $1,900,000
Sale price - $2,200,000
If they set the reserves at 2.1M for all then one wouldn't of sold and the others would still get 100k.
I don't really think anybody took much notice of the reserves, because most who know the show, know they needed to be low or risk the same debacle as last block.
I've always thought they are simply a way of balancing up the differences between each apartment so that the playing field between contestants was fairly level.
I don't believe Channel 9 has ever thought they would make money on the sales. That comes from the advertising so when people say they lost money, that is kind of a no brainer (and I know you were not quoting the prices Big Will to point out they lost money - but in the past this has been raised by others).
I've always thought they are simply a way of balancing up the differences between each apartment so that the playing field between contestants was fairly level.
I don't believe Channel 9 has ever thought they would make money on the sales. That comes from the advertising so when people say they lost money, that is kind of a no brainer (and I know you were not quoting the prices Big Will to point out they lost money - but in the past this has been raised by others).
I note that the following commentary is scathing on the role of the BAs on the show: http://www.propertyobserver.com.au/...il&utm_term=0_a523fbfccb-7ba1f32118-245426297
Were the BAs out to win (more business for themselves?)
Shouldn't they have been aiming for the lowest price not some inflated winning price? How much have these purchases cost the purchasers in terms of future cg & overpayment?
Depends on the instructions they have been given. They all sold for the roughly the same price, and it doesn't always need to be about $$ some people buy as a PPOR or to say 'I own a block apartment'. Like Julia Gillard's old house it sold for way over what it should of (more than these block apartments did) as the Chinese man bought it for his daughter to live in.
In 30 years time he would of made money but could of made a lot more
you're forgetting the sponsorship dollars that are added back in.
who wants to watch a show where people work hard for nothing?
I was talking about the smokes and mirrors people thinking the block wasn't that good.
Yes I know sponsors pay quite a pretty penny to be used/mentioned on the show.
However I do not believe people deserve to get 940k for 10 weeks worth of work on a show. If they did set the reserves at 2M it would of been more realistic and everyone would of walked away with a very healthy paycheck.
My wife watched it all and cannot believe apartment 2 who did nothing walked away with 600k (tax free) for drinking coffees and throwing tantrums.
I myself only watched the auctions and I watching going this is stupid these prices. They showed a twitter or facebook post come up from some girl saying 'What amazing auction results, selling x over reserve'. I almost dropped my jaw that people could be so blind. When I got to work the next day everyone thought it was a great result that a place would sell 500k+ over a reserve. It wasn't until I pointed out the low reserves did they change their mind.
Yes I know sponsors pay quite a pretty penny to be used/mentioned on the show.
However I do not believe people deserve to get 940k for 10 weeks worth of work on a show. If they did set the reserves at 2M it would of been more realistic and everyone would of walked away with a very healthy paycheck.
My wife watched it all and cannot believe apartment 2 who did nothing walked away with 600k (tax free) for drinking coffees and throwing tantrums.
I myself only watched the auctions and I watching going this is stupid these prices. They showed a twitter or facebook post come up from some girl saying 'What amazing auction results, selling x over reserve'. I almost dropped my jaw that people could be so blind. When I got to work the next day everyone thought it was a great result that a place would sell 500k+ over a reserve. It wasn't until I pointed out the low reserves did they change their mind.
if you don't like it, don't watch the show.
so what if they didn't deserve it? does it affect your life or investment strategies?
complaining on the internet is doing what, exactly?
so what if they didn't deserve it? does it affect your life or investment strategies?
complaining on the internet is doing what, exactly?
To enjoy anything you've got to have realistic expectations.
It sounds like there's a need to adjust your expectations of reality television. It's purpose is to entertain people enough that they sit there and watch ads and then buy stuff that's advertised.
What's more entertaining, big auction results or tiny auction results?
I enjoyed the show. It's fun to sit down with the wife and laugh at other people stressing about renovations because we both know just how enjoyable reno's are.
The scripted lame jokes and dancing and bitching gets old, but then that in itself appeals to a whole other audience, so they are just covering their bases.
And for those of us who refuse to watch adverts, and who tape the shows and watch a bit later, they use product placement all through the show... but that is better than having to sit through adverts. I don't think I've watched an advert on the telly for ten years
.