Midweek, daytime auctions are just as effective as those held in the weekend – a fact proven by two recent and highly successful sales.
The Harcourts Queensland auction team sold a Nudgee property for $275,000 above the reserve price and a Hawthorne property for $410,000 above reserve.
Chief auctioneer for Harcourts Queensland Mitch Peereboom said “These results confirm the auction process is not governed by time and place, but rather by buyers wanting to purchase a property.”
The final sale price for the Nudgee property was an exceptional result, as offers prior to auction were well below the reserve. Finance also fell through on one contract.
Reaching $410,000 above reserve at an in-house auction, during business hours, is an outstanding result, proving that weekday auctions work, Mr Peereboom said.
“Regardless of the auction time, our primary goal is to keep the marketing and auction process the same, which inherently captures all interested buyers and delivers them as a live market to the seller on the day. We find that buyers appreciate the opportunity to purchase a property without having to worry about missing out on viewing other comparable properties during the busier weekend time slots.”
Norm Devine, sales consultant from Harcourts Coorparoo, whose team listed the Hawthorne property, said potential clients often find themselves too busy to attend weekend auctions, particularly with summer coming.
“Holding an auction midweek provides you with genuine bidders and there is less competition with other auctions,” Mr Devine said.
“With people booking weekends away to enjoy the summer weather it is easier to get people together midweek.”
The Harcourts Queensland auction team conducts auctions every day of the week, including daytime and evenings. Their next Brisbane in-room auctions will be held at Victoria Park on Wednesday 12 November.