On the auction day, it was pouring down rain and I thought that might detract from a crowd at the auction, hoping for potentially less competition and a lesser crowd such that only serious buyers were present. However those hopes were quickly dessimated when I couldn't find a park in the street and saw dozens of people walking down the street to the auction.
I ended up parking about half a kilometre away and (thankfully) had an umbrella to make the damp walk down.
It was very crowded, which was astonishing given that there was only one open for inspection of an hour scheduled prior to the auction, so there couldn't possibly be many people seriously interested - surely!?
So I was immediately dissapointed and expected a very competitive auction, so I almost didn't bother registering to bid at the auction.
Once the auction started, it was off to a slow start, like many auctions do, however it didn't really gain any pace, if anything it just slowed down more and even when it reached the reserve price and was "on the market" to sell that day, there was only four active bidders, two of which only gave a couple bids along the way.
I was quite surprised to have bought it for the price I did, of $740,000, which I felt was a good price given the overall good condition (underneath the mess), size of house and block of land. Immediately after the auction ended, I was approached by a journalist from News Ltd representing The Courier Mail, who asked if I attended the auction because of the feature article in that day's paper. I promptly said no, but all of a sudden it made so much sense as of why there were so many people at the auction!
The following day the property was once again featured in the Sunday Mail newspaper, quoting my name and the sales price, which was quite a surprise.
But since there seems to be a lot of interest in the property, I intend to document it's progress from a run down neglected shack to a beautiful home.