PROPERTY AUCTIONS

Otago Daily Times, Issue 27570, 12 December 1950, Page 9

PROPERTY AUCTIONS

Several Fail To Reach Reserve Much interest was taken in the auctions of city properties yesterday afternoon. Bidding for some properties did not reach the reserve and they were passed in. but several of these were later sold by private treaty. A five-roomed dwelling with kitchenette and garage, situated at 46 Moreau street, St. Kilda. was sold at auction for £1950 by James Samson and Co. Considerable Interest was taken in the auction, more than 70 people being present. Bidding commenced at £I3OO and rose by £SO bids to the final figure. This price was considered a satisfactory one. Vacant possession is guaranteed about January 31. A freehold section fronting Queen street and Warrender street was also put up for auction by James Samson and Co., but was withdrawn when £1450 was reached.' Here again bidding was keen and rose by £SO bids from the initial offer of £IOOO. Vacant posession was guaranteed before Christmas for a six-roomed roughcast house at 30 Prestwick street, Maori Hill, which was offered by Alex Macdonald. The house is situated on a freehold section of 27 poles. Bidding started at £2OOO and rose to £2300, when the auctioneer announced that the property would be passed in. Subsequently a sale was made at a satisfactory figure. A six-roomed villa built of kauri on a freehold section at 530 Highgate, Maori Hill, offered at public auction by N. and E. S. Paterson, Ltd., was passed in at £2IOO, It was, however, sold by private treaty immediately afterwards for £2300. Bidding at the auction commenced at £ISOO, rising by £IOO bids to £2OOO, and by two £SO bids to £2IOO. About 12 people were present at the auction, and vacant possession was guaranteed on February 15. Two properties at Beaumaris street, Outram. offered at auction by Alex. Harris, Ltd., were passed in, but were later sold at a satisfactory figure. Bidding opened at £2OOO for a fourroomed brick house situated at 50 Botting street, put up for auction by Tamblyn, Rhodes and Justice, and was finally sold for £3350. Seven persons took part in the bidding.