Our first Collective Auctions event. Going, going, gone!

On Tuesday, 5th of April 2022, we held the first in our series of in-room auction events - Collective Auctions: Autumn 2022.

A crowd of over 80 people made their way up to the QT Lounge at the QT Hotel where they were greeted by sweeping views across the City. The room filled up quickly, it was a full house. Champagne was served on arrival, followed by delicious canapés and the sweet sounds of our live musician, Randall Purcell. The atmosphere was on point, only heightened by a classic Canberra sunset that marked the start of our event formalities for the night.

Some of the 22 registered bidders nervously awaited their opportunity to take a shot at one of the 11 properties up for auction. Others prepared their bidding strategy with friends and family who came along for support (and the show). The diverse range of properties up for auction from across Canberra was reflected by the diverse buyer types who attended. First home buyers and downsizers made up most of the registered bidders, arriving well-informed and educated on how the auction event would run and what they needed to do. Our entire sales team plus some extra helpers were there to welcome and help them feel confident to execute their bidding strategies.

We were lucky enough to snag David Holmes from Holmes Auctions to call all our auctions at the event. David is one of Australia’s most sought-after auctioneers and he definitely didn’t disappoint. His award-winning background and specialist performance training saw him set an energetic and fast paced tone for the auctions. His witty banter in-between calls helped calm bidder’s nerves, all the while keeping up the competitive momentum from one auction to the next. The whole event wrapped up in a little over an hour which meant that early bidders stuck around to see how the rest of the auctions played out.

The event was a huge success, with 9 of the 12 properties selling under the hammer (one sold prior to auction). The total combined value of property sold on the night was a whopping $8.29m.

33A and 33B Fairley Crescent in Theodore broke a suburb record, selling for $1.39m, and we had 3 of the properties exceed the 1-million-dollar mark. Sale prices ranged from $565,000 - $1,565,000 with the average selling price sitting at $921,000. Competitive bidding determined the market price on the night and we ended up with a lot of very happy buyers and sellers.

The 2 properties that didn’t sell under the hammer due to the reserves not being met will be launched back into the market as private treaty campaigns. The prices will be set based on feedback we received through the campaign and at the auction event.

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Keep an eye out for our next Collective Auctions event. We can’t wait to do it all over again!

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