Share
A Bondi Beach house on the market for the first time in three decades sold for more than $1 million above reserve at auction on Saturday.
The tightly-held home at 29 Sir Thomas Mitchell Road sold for $5.8 million in a hot auction that drew 15 registered bidders.
29 Sir Thomas Mitchell Road, Bondi Beach.
Bidding for the three-bedroom house kicked off at $4 million, bang on the initial advertised price guide, and climbed in $100,000 increments to start.
It was a quick auction and only a handful of the bidders were able to throw their hats in the ring before the gavel fell at $5.8 million.
Share
The average Australian home buyer will spend endless hours inspecting properties, attending multiple auctions, missing out on many before they seal the deal and the details become public on settlement.
But Rich Listers operate in a different stratosphere that comes with having access to money and resources. They can often escape the public eye, allowing them to stay above the fray of the much-loved but sometimes brutal Australian public sport of home buying.
Rich Listers ink deals that often make it hard for the public to know what they own.
Jim Rice
They become part of an almost secret club, where they trade the same homes, almost exclusively, among themselves.