No Reserve Auction Achieves an Outstanding Sale Price

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The first No-Reserve Auction held by the Ray White Allens team last Thursday was a raging success.

Peter Vink created history for the Tutukaka Coast office by selling a property at Ngunguru, on the famous Tutukaka Coast, buy auction on Thursday 4 April. Listed with no reserve the property sold for a staggering $470,000.

Ngunguru Heights Rise - Sold by Peter Vink (2)

Local Ray White coastal marketing salesperson, Peter Vink, was given the task of achieving a sale on the property in under 3 weeks- due to a vendors ailing health. Despite some initial reservations from the vendor and their legal representatives as to this unique method of approaching a sale, the documents were drawn up and the property was listed with Pete as per his confident marketing recommendations. -An experienced local and award winning sales professional Peter had assured them that after talking to some of his existing potential buyers, plus current interest in the area, that there would be a high level of interest in the property – and the vendors, and professionals alike, trusted Peter’s judgment and knowledge of the Tutukaka real estate market.

In a market which averages 8 interested parties per property prior to a sale (and around 400 website hits on average), Peter had over 45 interested parties attend the open-homes on the property (and well over 2,300 web hits). This converted to 10 registered bidders on the day, and an auction room full of interested onlookers (consisting of neighbours, investors, property developers, professionals, and members of the public). Gary Younger did an excellent job calling the auction, creating a competitive and entertaining atmosphere that culminated in a result that the vendor was delighted with (as too was the successful purchaser – who let out a scream of excitement after winning the auction).

1 Ngunguru Heights Rise, Ngunguru, Northland.

  • Listed: 12 March 2013 at “No Reserve” with Peter Vink, Ray White Allens
  • Sold: 4 April Under the hammer at auction  for $470,000.