Record $6M auction price for estate
PA Auckland An auctioneer, Mr Dick Gladding, has sold a Takapuna family estate for a record auction price of $6 million, but lost a bet in the process. Mr Gladding said he had expected Nick’s Estate to sell for several more million dollars. He had a friendly wager with a colleague about the price of the 11,050 sq m property. “I thought I was going to be able to almost double that figure,” Mr Gladding said. “I have lost my bet.” Mr Merv Neill, a director of Gladding Keys and
Neill, said the property had been bought by a private consortium of North Shore property developers. They were not aligned with any one particular company. The property is likely to be redeveloped with one or two members of the consortium living on site. Members of the consortium did not wish their identities to be made public. Although $6 million is a record for a residential property sold at auction in New Zealand, $8 million was paid for the Seabrook mansion in Epsom by the chairman of Pacer Pacific, Mr David Phillips.
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Press, 14 July 1987, Page 13
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187Record $6M auction price for estate Press, 14 July 1987, Page 13
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