BIDDERS dug deep to secure a piece of real estate in the heart of Port Fairy on Saturday when an old brick house on a large block sold for $740,000 at auction.
About 100 people turned out to 18 Barclay Street where six people sent the price soaring after auctioneer Gary Lockett took the first bid at $620,000 to test the water.
"There was spirited bidding and it went for way over the reserve price," he said yesterday.
"It was a very good result considering Port Fairy is not generally regarded as an auction town.
"The property was purchased by a local resident who intends using it as a home and investment.
"It's a unique property set on a 1644-square metre block and is possibly the last sizeable undeveloped site in central Port Fairy."
The house has four bedrooms and a wood fire heater.
Mr Lockett conducted the sale in conjunction with Robertson Real Estate.