Real estate agents made small talk with prospective buyers or took last-minute instructions by phone from remote bidders.<\/p>\n
The tension was palpable as Smith strode to the lectern to kick off proceedings. <\/p>\n
He reminded the 50 or so attendees that all of the properties were subject to reserve prices. They were being sold subject to existing tenancies and there were no warrantees given for fixtures or chattels that were subject to securities. <\/p>\n
Prospective buyers were deemed to have inspected the properties and were advised to seek independent advice if the homes featured monolithic cladding.<\/p>\n
A Buckland Rd, M\u0101ngere East that went under the hammer on Wednesday at Barfoot & Thompson auction house as a mortgagee sale. Photo \/ Supplied<\/p>\n
First off the block was a sad-looking, three-bedroom home in M\u0101ngere East touted as being located in a \u201cpopular street\u201d and close to amenities.<\/p>\n
Smith pleaded with the reticent crowd for an opening bid, suggesting $700,000 might suffice.<\/p>\n
After an age, a man at the rear chimed in with a more modest $50,000 offer. <\/p>\n
\u201cNo,\u201d Smith replied.<\/p>\n
Someone else then bid $600,000 and we were away. However, he appeared to be the only interested party. <\/p>\n
Smith paused the auction for \u201cnegotiation\u201d. Staff held whispered conversations with the man, then scurried to another room to seek instructions from the bank. <\/p>\n
Thanks to prolonged prodding, the man eventually lifted his offer to $910,000, at which point Smith announced, \u201cWe\u2019re on the market\u201d. <\/p>\n
After a hopeless search for another potential bidder, the hammer fell – selling for $30,000 above CV. <\/p>\n
A McKean Ave property in Manurewa which sold for $863,000 during a mortgagee auction at Barfoot & Thompson. Photo \/ Supplied<\/p>\n
The next property was a 156sq m \u201cbrick beauty\u201d in Manurewa, which Smith described as a \u201cbit of a charmer indeed\u201d. <\/p>\n
It had resource consent for two new dwellings and was located on McKean Ave.<\/p>\n
\u201cWho is McKean to buy it?\u201d Smith quipped. But after a couple of bids in the early $500,000s, the room again fell silent. <\/p>\n
\u201cEveryone\u2019s trying as hard as they can today to not buy a house,\u201d Smith observed. <\/p>\n
But a frenetic bidding war then erupted as multiple interested parties traded about 50 quick-fire counter bids. <\/p>\n
At one point, Smith took an agent\u2019s phone to converse directly with a phone bidder. <\/p>\n
\u201cNo, we\u2019re not dealing with a private owner, we\u2019re dealing with a bank,\u201d Smith informed the potential buyer.<\/p>\n
The price surged to $863,000 at which point an excited Smith \u2013 who sounded like he was calling the New Zealand Cup at Riccarton \u2013 warned he was about to sell. <\/p>\n
\u201cDone. Stumps. Like the cricket reference?\u201d he told the crowd, many of whom were of Indian descent.<\/p>\n
\u201cSold\u201d \u2013 for nearly $100,000 below CV. <\/p>\n
A Joe F Stanley Place property in Otahuhu which was sold during a mortgagee auction on Wednesday. Photo \/ Supplied<\/p>\n
The third lot was a \u201cfantastic\u201d brick-and-tile home on a 502 sq m section in Otahuhu, within walking distance of the waterfront boulevard and town centre. <\/p>\n
Bidding started at $500,000 but quickly climbed to $760,000, when Smith told the bidder, \u201cIt\u2019s your lucky day, we\u2019re on the market\u201d. <\/p>\n
The property went to another phone bidder for $767,000 \u2013 more than $100,000 below CV. <\/p>\n
A Newham Place, Henderson “family home” which failed to sell and was passed in during a mortgagee auction this week. Photo \/ Supplied<\/p>\n
Next up was a 130sq m, three-bedroom \u201cgreat family home\u201d in Henderson. It had previously been listed with an asking price of $819,000 \u2013 $91,000 below its CV. <\/p>\n
Bidding again started at $500,000. A woman with gigantic glasses that obscured half her face took the price up to $750,000 before Smith paused the auction and tried to work his magic. <\/p>\n
But the woman\u2019s interest had waned and there were no further bids.<\/p>\n
\u201cWe are passing in,\u201d Smith announced. <\/p>\n
This property in Raleigh Rd, Northcote, was forcibly sold by the Auckland Council on Wednesday because of an unpaid rates bill of nearly $220,000.<\/p>\n
The curious case of 4\/70 Raleigh Rd in Northcote was next off the blocks. <\/p>\n
The Auckland Council went to the High Court to sell the run-down three-level townhouse after the property racked up $230,000 in unpaid rates. <\/p>\n
The owner, Choi Wu, couldn\u2019t be located and is believed to have travelled overseas. <\/p>\n