OMG, where did you get all the details from. Don't tell me you have a pen and pad beside your Jason recliner and kept track along the way
LOL... I've been watching the episodes online, easy to keep track of things.
Tv - Show Renovators #2
- Thread starter skater
- Start date
LOL... I've been watching the episodes online, easy to keep track of things.
Extraordinary Auction
I was surprised with one of the auctions where one of the bidders seem to bid against herself.
She had the bid at $710,000 but was coaxed into bidding against herself by putting a higher bid of $720,000.
I was then amazed that even though the auctioneer said they will be selling the house on the night had placed a vendor's bid of $750,000.
If I was the bidder I would have stood firm at $710,000. But she seemed to be coaxed with trumping the vendor's bid by a further $20,000!
Unbelievable!
Question: How can the auctioneer declare the house was selling that night but later he placed a vendor's bid? What would have happened if the lady stood firm?
The film clip of the auction should be placed on YouTube and titled What no to do at an Auction.
SYD
I was surprised with one of the auctions where one of the bidders seem to bid against herself.
She had the bid at $710,000 but was coaxed into bidding against herself by putting a higher bid of $720,000.
I was then amazed that even though the auctioneer said they will be selling the house on the night had placed a vendor's bid of $750,000.
If I was the bidder I would have stood firm at $710,000. But she seemed to be coaxed with trumping the vendor's bid by a further $20,000!
Unbelievable!
Question: How can the auctioneer declare the house was selling that night but later he placed a vendor's bid? What would have happened if the lady stood firm?
The film clip of the auction should be placed on YouTube and titled What no to do at an Auction.
SYD
So taking out all of the bonus prizes, then all of the transaction costs like stamp duty, legal and agent fees. All of the house would have lost some serious money.
Obvisiouly the strategy was to make a tv show not a profit. 20% of purchase price must have been a over capitalization for all the houses. Wonder if they'll do another series, so many of the tasks seem pointless.
Obvisiouly the strategy was to make a tv show not a profit. 20% of purchase price must have been a over capitalization for all the houses. Wonder if they'll do another series, so many of the tasks seem pointless.
As with TV editing not all is as it appeared.... I was there on the night (in fact all of them) and what you didn't see was the conversations the agents had with this buyer. The "coaxing" was because it wasn't on the market at $710K and never would have been... even with the VB final instructions weren't sought.... it's what you don't see on camera that completes the picture here.
Ditto the Blacktown bidding- it was more protracted with the auctioneer doing a great job in obtaining small increases between $430-440K however with editing it appeared that the final bidder jumped suddenly to $440K- this wasn't the case at all. It was a very exciting finale, however, with a deserved winner. I think Michael won a lot of local fans at Blacktown
I'm sure it happened at more than once.. for the first auction (weatherboard), I'm sure the winning bidder raised $5k, but was the previous highest bidder
and the last one.. the guy was having kittens bidding around $340k.. but had no problem making the $440k bid
See above re: editing. With some camera cuts to some bidders and not others it was confusing at times. I loved the nervous "scarf wiping" of the Blacktown buyer- I think you'd be simply overwhelmed too if you had about 1000 people behind you and cameras in your face with huge lights- never mind what amount you were up to! The buyer was actually a very nice fellow who hadn't done this before so kudos to him for being brave in front of all those spotlights!
The television show definitely got in the way of the renovations. The market hasn't helped obviously, but a lot of the spend on furniture and the like would not have added much/any to the final auction price.
I think the prices at each were quite reasonable, just goes to show how many pretend interested parties there was. I wonder how much of that is down to the television aspect.
I think the prices at each were quite reasonable, just goes to show how many pretend interested parties there was. I wonder how much of that is down to the television aspect.
I hope they do another series, maybe tweaked in some areas. Taubmans certainly has got some serious advertising - I bet it would be the first brand on anyones mind who watches the show. And we now know who the grey haired painter is in the add
It was good to see most or all of the original contestants back last night. Mel definitely comes out as the chirpiest and most fun person to have around - you'd be rolling around on the floor every time you tripped over a can of paint with her around. Natalia - the arm artwork is ok on a worksite but not suited to sleeveless dress up clothes. I think she actually came out as having stand out design skills and good with the tools, Luke was up there too. I consider a true renovator as someone who does a lot of the work themselves, so having a chippy win seems appropriate.
I doubt if any of the losing contestants would have been overly disappointed in not winning - a long way from what I am sure they were expecting. Can you imagine someone taking home just $26k for all that effort and beating 25 others Like winning a jar of jelly beans! If the winner held a party it would be almost BYO. If each house had made a conservative $50k that would have been $300k prize. If it had not been for Blacktown, the prize would have been ....yawn! I think the producers may have been a little embarrassed also which is why they decided to top up the coffers to $100k.
After the last two series of The Block and now this show, unless we have a property boom I doubt if any more shows will be based solely on the profit as the prize. Why would you subject yourself to all this, other than for the practice .....which admittedly could be valuable for a lot of people - a crash course thrown in at the deep end.
Blacktown certainly had the advantage of being at the lower end of the market, and the backyard with the pool was a winner. Gee I hate those auctions that keep growing new legs every time you think it has run out of puff .....and with so many strong bids to follow. $280-$440, that was the greatest run % wise.
The guy who bought the shop certainly wanted it, not prepared to take much of a chance with that knockout bid. I wonder what the reserves were on the houses - if any. Would the St Peters house have been sold at below the VB after if the buyer had not bid $770. Maybe an agent whispered in her ear that $770 would win it.
It was good to see most or all of the original contestants back last night. Mel definitely comes out as the chirpiest and most fun person to have around - you'd be rolling around on the floor every time you tripped over a can of paint with her around. Natalia - the arm artwork is ok on a worksite but not suited to sleeveless dress up clothes.
I think she actually came out as having stand out design skills and good with the tools, Luke was up there too. I consider a true renovator as someone who does a lot of the work themselves, so having a chippy win seems appropriate. I doubt if any of the losing contestants would have been overly disappointed in not winning - a long way from what I am sure they were expecting. Can you imagine someone taking home just $26k for all that effort and beating 25 others
Like winning a jar of jelly beans! If the winner held a party it would be almost BYO. If each house had made a conservative $50k that would have been $300k prize. If it had not been for Blacktown, the prize would have been ....yawn! I think the producers may have been a little embarrassed also which is why they decided to top up the coffers to $100k.After the last two series of The Block and now this show, unless we have a property boom I doubt if any more shows will be based solely on the profit as the prize. Why would you subject yourself to all this, other than for the practice .....which admittedly could be valuable for a lot of people - a crash course thrown in at the deep end.
Blacktown certainly had the advantage of being at the lower end of the market, and the backyard with the pool was a winner. Gee I hate those auctions that keep growing new legs every time you think it has run out of puff .....and with so many strong bids to follow. $280-$440, that was the greatest run % wise.
The guy who bought the shop certainly wanted it, not prepared to take much of a chance with that knockout bid. I wonder what the reserves were on the houses - if any. Would the St Peters house have been sold at below the VB after if the buyer had not bid $770. Maybe an agent whispered in her ear that $770 would win it.
really the failure of the block just shows that renovating and selling property isn't easy. those higher end ones just didn't have the push although the inner city terrace had a higher end market.
the pool i think did a big factor for the blacktown win. for $430K and the amount of work being done is still a bargain.
the pool i think did a big factor for the blacktown win. for $430K and the amount of work being done is still a bargain.
As with TV editing not all is as it appeared.... I was there on the night (in fact all of them) and what you didn't see was the conversations the agents had with this buyer. The "coaxing" was because it wasn't on the market at $710K and never would have been... even with the VB final instructions weren't sought.... it's what you don't see on camera that completes the picture here.
Ditto the Blacktown bidding- it was more protracted with the auctioneer doing a great job in obtaining small increases between $430-440K however with editing it appeared that the final bidder jumped suddenly to $440K- this wasn't the case at all. It was a very exciting finale, however, with a deserved winner. I think Michael won a lot of local fans at Blacktown
Editing to make the buyers look like dills is sure to bring back the buyers if they have another series.
SYD
they buyer who bought the fibro was crazy jumping 20K and 15K and 5k and then calling his dad to up the antee..
and also the part when the asian buyers fighting to put bids.
also shows which suburb with higher incomes tend to push the prices a bit. inner city terrace had more buyers which came out 2nd
and also the part when the asian buyers fighting to put bids.
also shows which suburb with higher incomes tend to push the prices a bit. inner city terrace had more buyers which came out 2nd
I'm surprised they did this, maybe the agent knocked some sense into the producers.
At this property the agent was very critical of the producers conditions which applied to those attending the open house and auction. "What are they trying to do, scare off everyone. Look at this (pulling a laminated conditions to enter card out of a cupboard) they want you to agree to a page of conditions allowing your face to be circulated around the world and used as they like. Jeees!"
Just going over the figures which Dexter put together. The terrace was the one which lost the least amount of money when taking all winnings into account - only lost $3k. But if you factor in all the work that the team put into it which has not been priced in, it is still a big $$ loose. I wonder how channel 10 views it - a success, money well spent?
I did read an old article which said that viewer numbers were disappointing and that they would be giving away so much free advertising into the future to make up for what the key advertisers paid in advertising/sponsorship based on much higher expectations ...........but that was written around the time they were competing with The Block.
I did read an old article which said that viewer numbers were disappointing and that they would be giving away so much free advertising into the future to make up for what the key advertisers paid in advertising/sponsorship based on much higher expectations ...........but that was written around the time they were competing with The Block.
It didn't transpire like this.... you really needed to be there to see what happened
The publicity for those with a trade was priceless ... I bet Michael, Keenan, Luke, Natalia et al will be swamped with work and will be able to name their price.
I think these live auctions must be the absolute worst way to sell as they would scare off many real buyers ... they would have made so much more by either private treaty or non televised auctions - but those options wouldn't have the viewing factor.
I was happy for the guy who bought Blacktown (fibro). What a bargin and he seemed like a real genuine guy buying his first home ... what a great party home for his mates too! Was kinda nice how he had to call dad halfway thru to see how much he could stump up for a deposit. I still think it was a real bargin.
I don't know Sydney well, so was surprised the half done house and the 70's suburban didn't sell for more - but that might have been area.
Going on Dexters figures - Total Spent $ 823,194.00 on the Castle Hill house and then going for 730k was a very good price. That position is within 1km of Castle Hills shops and the future train station - excellent position. If it had that 40k pool I would've been tempted for myself
The Parra house was a good price when you compare other properties in the same area. That part of Parra is very nice and within walking distance of the train station and Westfield shops.
The shop seemed a bit strange. One bid at 700k , then that was it? Again the editing done by Channel 10 may have skewed what really happened?
As far as reno spends go , usually its 10% rather than 20% spend - so that wouldn't have helped the end prices.
Anyway, I enjoyed the show. Probably the only improvement I would make to the show would be a more "block like" outcome - i.e each house keeps its profit and then the one with the greatest % profit (winner) gets an extra 100k prize. Maybe less challenges as well , as can be seen by Lukes reaction at the end it would have been exhausting and very stressful.That would also mean each house would have less spend money (or % spend) but better chance of a good profit.
The Parra house was a good price when you compare other properties in the same area. That part of Parra is very nice and within walking distance of the train station and Westfield shops.
The shop seemed a bit strange. One bid at 700k , then that was it? Again the editing done by Channel 10 may have skewed what really happened?
As far as reno spends go , usually its 10% rather than 20% spend - so that wouldn't have helped the end prices.
Anyway, I enjoyed the show. Probably the only improvement I would make to the show would be a more "block like" outcome - i.e each house keeps its profit and then the one with the greatest % profit (winner) gets an extra 100k prize. Maybe less challenges as well , as can be seen by Lukes reaction at the end it would have been exhausting and very stressful.That would also mean each house would have less spend money (or % spend) but better chance of a good profit.
