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Yeah not sure if it was scripted or not, but tim and Anastasia and dee and Daz came off as dicks in the show.
http://www.propertyobserver.com.au/...k-s-south-yarra-initial-purchase-auction.html
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 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?
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.
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.
It's purpose is to entertain people enough that they sit there and watch ads and then buy stuff that's advertised.