A fastidious approach to workmanship, a good builder and choosing high-end fittings are the three factors that helped push The Block’s winning apartment into the $1.91 million territory, earning renovators Simon and Shannon Voss a tidy profit, according to celebrity auctioneer Damien Cooley.
Speaking exclusively to Real Estate Business, auctioneer Damien Cooley said the fact Simon and Shannon’s property was one of the first up for auction was part of the strategy he and ‘the boys’ had put into place. Mr Cooley said keeping the bidding in $50,000 increments helped the auction immensely.
“There’s no question the boys had an outstanding apartment and did an incredible job renovating it and the buyers who saw quality were attracted to this, and it was south facing,” Mr Cooley said.
“$1.9 million is a huge sale and the strategy we had in place was not to be bombarded with bids, so keeping bidding at $50,000 increments was the winning strategy because once we were at $1.7 million it only took four bids to reach $1.9 million.
“At that price a lot of buyers are attracted to good investments and also investors are looking for depreciation benefit. The good thing in any series is from a tax perspective and investors like buying a brand new fully-furnished property. The person who bought this was an investor hoping to move into it one day.”
Mr Cooley said the biggest difference in the auction this year was that there wasn’t the depth of buyers across all submissions, and being the first auction of the day helped maximised the sale price.
Brothers Simon and Shannon Voss won The Block Glasshouse last Sunday night. The Glasshouse was a 12-week reality TV series that featured five couples in the throes of converting an office block in east Melbourne into five luxury three-bedroom apartments.
Shannon and Simon Voss sold their apartment for $1.9 million, $335,000 in profit, winning additional prize money of $100,000.
Chris and Jenna Susetio sold their apartment for $1.81 million, a $310,000 profit.
Maxine Stokes and Karstan Smith sold their apartment for $1.71 million, a $40,000 profit.
Michael and Carlene Duffy sold their apartment for $1.39 million, a $10,000 profit.
Deanne and Darren Jolly sold their apartment for $1.38 million, a $10,000 profit.