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The Block reserves were conservative or did the buyers overpay?

The Block reserves were conservative or did the buyers overpay?
The Block reserves were conservative or did the buyers overpay?

The Block Sky High initial reserve prices were set before the renovations:

  • Apartment 5 Trixie & Johnno – $1.41 million
  • Apartment 4 Madi & Jarrod – $1.34 million
  • Apartment 3 Bec & George – $1.28 million
  • Apartment 2 Matt & Kym – $1.22 million
  • Apartment 1 Alisa & Lysandra – $1.16 million

So there was  $250,000 difference between top and bottom offerings on initial valuation.

The final sale price had the difference at $170,000 suggesting the design and emotion of the auction had an impact. Or the valuer setting the reserve got it something wrong. 

  • Apartment 5 Trixie & Johnno – $1.605 million
  • Apartment 4 Madi & Jarrod – $1.601 million
  • Apartment 3 Bec & George – $1.507 million
  • Apartment 2 Matt & Kym – $1.455 million
  • Apartment 1 Alisa & Lysandra – $1.435 million

The profit amount over amended reserves:

  • Trixie & Johnno – $205,000
  • Madi & Jarrod – $291,000
  • Bec & George – $242,000
  • Matt & Kym – $250,000
  • Alisa & Lysandra – $295,000

 

{module Which Block Sky High apartment sale price will be the hardest to get a profitable resale on?}

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