Large crowds, but bidders light on ground at auctions

THE sunshine helped draw the crowds to property auctions Saturday, but bidders were light on the ground.

About 70 people attended a three-lot auction on Koroit-Port Fairy Road near Crossley where all three lots were sold on the day.

A lone bidder took part in the auction on lot one, the Lurnea homestead on six hectares, with a winning bid of $575,000 after bidding was opened at $550,000.

Lot two (four hectares of rural-zoned land) was sold under the hammer at $201,000 to a local family.

Lot three (six hectares) was passed in on a vendor's bid of $70,000, but was sold immediately after to a local farming family for $75,000.

Brian O’Halloran & Co sales agent Ken Chandler said he was surprised by the lack of bidders. “There was a lot of interest — I thought we might have had some spirited bidding,” he said.

“I’m not sure if people like auctions at the moment.

“But to sell all three lots on the day of the auction is a pretty good effort.”

Meanwhile, about 40 people attended the auction for 23 Cramer Street in Warrnambool, which was passed in on a vendor’s bid of $320,000.

Charles Stewart & Co director Nick Adamson said the result was a little disappointing. The two-bedroom weatherboard home has since been placed on the market at $342,500.

Details on a third auction at 8 Belmore Road in Warrnambool were unavailable yesterday.

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