THERE was a big crowd on hand for the auction of a historic Port Fairy property on Saturday, but no one was bidding.
Despite about 100 people turning up for the auction of Akuna, at 86 Gipps Street, the prized home was passed in on a vendor’s bid of $750,000.
Northeast, Stockdale and Leggo’s Port Fairy licensed estate agent Nicole Dwyer said the deceased estate was still likely to attract a big price and would be listed for $830,000.
“It’s right in the heart of town, on a huge block of 1463 square metres, it backs onto Railway Place and is across the road from the river,” Ms Dwyer said.
“The parties that showed interest pre-auction are still interested … (and) there are things in the pipeline so we’re confident something will happen.
“A lot (of properties) have sold in (Port Fairy’s) central grid on blocks a third of the size close to ($830,000). The numbers stack up for its value.”
Ms Dwyer said the home was built in the 1920s and had only had two owners.
There was more success with the auction of a deceased estate at 3 Dawson Street in Camperdown on Saturday.
James H Monk rural sales agent Ross Fleming said the commission area home opened at a $95,000 vendor’s bid, with two bidders battling it out until the hammer fell at $107,000.
“It’s probably a little bit light but that’s way the market is,” Mr Fleming said.
He said the well-kept home’s auction attracted about 20 people, with the successful bidder a local buyer.
The weekend’s other auction was for 2/27 Janlor Drive in Warrnambool, where about 20 people watched the two-bedroom unit get passed in on a vendor’s bid of $185,000.
Garry Chisholm, Warrnambool area representative for Southern Grampians Livestock & Real Estate, said negotiations were continuing with an unsuccessful bidder and another party.
Mr Chisholm said the unit had been a successful rental property for the past five years and attracted a lot of interest.