‘ Ridiculous’ — shock at huge price
THE Bondi Junction home (above) was a time capsule from another era, but yesterday a local Chinese family paid $2.8 million — $500,000 more than the reserve price — at a hotly contested auction.
“It was ridiculous … massive,” the gobsmacked agent, Clay Brodie, of Ray White Woollahra, said later.
He and his colleague Don Riley had five bidders register, but only three could get a bid in for the four-bedroom home at 2 Council St, which has been in the Stephan family for more than 70 years.
The successful purchasers, investors, blew away the competition with a final knockout bid of $100,000.
The underbidders were a family who lived a block away hoping to upsize.
It will rent for $1200 a week.