MORE than 140 years of history failed to sell at an Allansford property auction on Saturday, but representatives remain confident that Summer Hill will still attract a sizeable seven-figure sum.
The historic property drew about 100 people to the on-site auction, where bidding opened with a $1 million vendor’s bid.
Brian O’Halloran & Co auctioneer Brian Hancock said Summer Hill was passed in on the vendor’s bid but there was plenty of interest in the property.
“Straight after the auction we were dealing with a couple of different people and received three advanced offers on the $1 million,” Mr Hancock said.
“The owners have set the reserve at $1.5 million.”
He said the stone homestead was built in 1873.
The weekend’s other auction involved four properties in close proximity to each other in Merrivale.
A house at 109 Davis Street and three vacant blocks in nearby Cody Place all went under the hammer, with only the Davis Street property selling.
Northeast, Stockdale & Leggo sales agent Ann Johnson said bidding on 109 Davis Street opened on a vendor’s bid of $230,000 before being passed in at $240,000. Ms Johnson said the property was sold after the auction for an undisclosed amount.
The three blocks in Cody Place — numbers two, four and five — were all passed in on vendors’ bids of $100,000.