$1 reserve

PHOTO: STUFF There was a packed auction rooms at Ray White Manukau, when the Manurewa house listed for $1 reserve was auctioned.

It was standing room only for most people at the auction of the Manurewa property with a $1 reserve, but the nerve-wracking marketing ploy paid off for the vendors.

The couple, who bet their retirement plans on the sale of their rental, saw it sell under the hammer on Wednesday evening, July 22 for $601,000. The sale price was $71,000 more than the CV of $530,000.


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Stephen Tuck, who listed the “do-up” with Pat Lapalapa of Ray White Manurewa, says he had counted 39 registered bidders. But that number could be larger, as people were still signing the register as the first properties on the list went to auction.

The crowd at the auction rooms, where 11 properties were up for grabs, was so large, many people remained outside. One agent told Stuff they hadn’t seen so many people at an auction since the last “boom” period in 2016-2017.


$1 reserve

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