A family home in Waihi Beach sold under the hammer for $1.8 million at an onsite auction - less than 24 hours after a tornado ripped through the Bay of Plenty town.
Depsite fears that the damage caused by the storm would put off bidders, the three-bedroom, two-bathroom property on The Crescent was in high demand at the auction and sold for double its RV.
There was even some extra drama, with a last-minute bid from a buyer who had been largely silent throughout the auction securing the home.
The day before the onsite auction, a tornado had whipped through the town, destroying power lines and ripping roofs off of houses.
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On the day of the auction, one end of The Crescent was blocked while repairs were carried out to restore power to nearby homes.
Harcourts Gold Star general manager Greg Sheppard said he half expected no one to turn up to the auction. In fact, 10 minutes before the auction was due to start, no one had.
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But luckily people managed to find another entrance to the street and about 40 attendees, including five registered bidders, gathered in the garden.
The bidding opened at $750,000, but paused at $1.72m. The auction resumed and was announced on the market at $1.75m after 18 bids.
But as the auctioneer was calling, ‘going once, going twice’ and the leading bidder thought they had secured the largely original home, another buyer made a surprise bid of $1.8m stealing the home from under them. They were local farmers who decided at the last minute they did want it.
Sheppard said everyone felt for the underbidder because everyone at the auction thought they had it in the bag. “There was every opportunity for them to carry on bidding, but it was obviously over their limit.”
The property on The Crescent boasts some of the best views in the town. Photo / Supplied
Sheppard said the property was on a full 964sqm section in a great location and being on the hill behind the shops meant it had some of the best views in Waihi Beach.
"The views are just panoramic... You will not get a better position for views in Waihi Beach. It’s elevated, you look over the shops, you look straight at Mayor Island/Tuhua – it's a beautiful spot.”
Harcourts listing agent Graeme Morrison said The Crescent is a trophy street and properties on it rarely came to market. The current owners had lived there for more than 20 years.
The house was considered to be in one of about six prime positions on the top flat of The Crescent on the seaside.
"That one was one out of the box."
Morrison has just listed a large home with sea views at 17 Hinemoa Road - a highly-desired street close to the beach - while another elevated property with good views and listed with Harcourts, at 11 Mayor View Terrace, is being sold at auction next month.
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