Is Sunday a Good Day to Auction Property?

Every auction I have participated in since late November has had one thing in common.

The auctioneers have been quick to remind the crowd that there will be no new properties hitting the market until February.

It’s not entirely true, and to be honest, many an agent has encouraged me to purchase a February-scheduled auction property this side of Christmas.

But street theatre is street theatre. It’s the auctioneer’s job to entice a crowd to bid and threatening stock scarcity is one sensitive hot button that often works.

Two other elements that are consistent at this time of year are Sunday auctions and weeknight auctions. There are only so many timeslots agents can squeeze mid-December Saturday auctions into.

Whether it was deliberate or the result of a late decision to sell, 7 Rose Street in Box Hill was scheduled for a Sunday auction.

Why We Were Charmed by This Property

My buyers were mature-aged empty nesters who loved the home’s amenity. They were excited by its proximity to their grandchildren, and they loved its beautifully polished Edwardian charm.

The property featured three bedrooms, a modest family bathroom, a delightful ensuite, and a classic character layout with stunning fretwork separating an otherwise open plan living and dining area.

“The drawcard was the stunning alfresco covered deck area.”

It was ideal for many a buyer, but not a large family.

The pretty and private yard could tempt excited buyers with notions of easy-maintenance, travel or a zest for lifestyle.

But the drawcard was the stunning alfresco covered deck area.

It had been done beautifully and melded classic with entertainer perfectly. I am certain that the buyers who milled about outside at 1pm were envisioning themselves on the deck in the summer with a glass of wine. 

The Auction

A crowd of about 160 people packed Rose Street and the energy was buzzing.

I identified the bidders, and once the auctioneer finished his spiel, the bidding commenced, fuelled by the crowd participants.

Two bidders carried the bidding in $10,000 increments, and it went up by $200,000 very quickly.

A third buyer emerged and by $1 million, a buyer had already opted out. With a quoted price in the “high eights”, the serious buyers knew that this house’s price tag started with a one.

“In a busy season like the one we find ourselves in currently, I believe… that Sunday auctions are a good idea.”

I stepped in once the property was on the market and was knocked down. The bidding slowed to a snail’s pace driven by one awkward bidder.

Each bid was strained and drawn out. After some careful consideration, the bidder would choose specific numbers; those including eights were his favourites.

My final blow was not with a big bid. It was with single consistent small bids. My opposition bidder gave up at $1.111 million and my buyers breathed a sigh of relief when the hammer fell.

The Final Result

Whether an array of ones is considered unlucky, lucky or otherwise for some cultures, we were nonplussed and just pleased to secure a dream home for a price we felt was fair.

The question I was asked at the start of the auction was the same question I was asked at the end. Is Sunday a good day to auction a property?

In a busy season like the one we find ourselves in currently, I believe that yes, Sundays are a good idea.

“My buyers breathed a sigh of relief when the hammer fell…”

Our crowd was keen, five genuine punters bid, the property sold under the hammer without the need for the agents to refer inside, and each party was pleased.

When we take into account the numbers of clashing properties and tight timeframes on Saturdays, it’s possible that buyers enjoyed the more leisurely way this campaign unfolded.

I have to concede that as a buyer’s agent, I’m yet to participate in a Sunday auction property that hasn’t sold under the hammer.

For more information about Box Hill, read our suburb profile here.

Sales and Growth Chart - Box Hill

Sales and growth in Box Hill
Photo: Pricefinder

Points of Interest in Box Hill, Postcode 3128

Box Hill Institute
Box Hill Hospital
Aqualink Box Hill
Box Hill High School
City of Whitehorse

About the Author

Cate Bakos is an independent buyers advocate and qualified property investment advisor and has proudly been a property investor for 17 years. Cate has a Bachelor Degree in Chemistry (Hons), Certificate 4 in Property Services (Real Estate), a Certificate 4 in Financial Services (Mortgage Broking). She is also a licensed real estate and a Qualified Property Investment Advisor accredited by Property Investment Professionals of Australia (PIPA).

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