In Balgowlah, a vendor accepted an offer of $4 million from registered bidders during an auction that passed in without bids, despite another party offering $20,000 more after the auction. The property, a four-bedroom house with a guide price of $3.8 million and a reserve of $4.05 million, was ultimately sold to the couple who were willing to negotiate privately post-auction. Sales agent Georgi Bate stated that the vendors were content with their decision, emphasizing their preference for this buyer over others who had expressed interest but did not follow through.
Written locally by qwen2.5:14b on 2026-09-19,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
In Sydney's Northern Beaches suburb of Balgowlah on Saturday, an auction for a four-bedroom house at 28 New Street West concluded when the vendor accepted a bid of $4 million, despite receiving a higher counteroffer of $4.02 million from another party who had not registered to bid. The property, with a guide price of $3.8 million and a reserve price set at $4.05 million, initially failed to meet its reserve when only one group of bidders—registered couple with adult children—were present after an interstate family declined to register on Friday. Auctioneer Emma Brown-Garrett passed the property in without any bids, starting private negotiations that saw the registered couple raise their initial offer from $3.8 million to match the reserve at $4 million, which the vendor accepted over a higher but unregistered bid. This outcome highlights current market dynamics where vendors are becoming more flexible and discerning buyers can secure deals despite high competition, as per Georgi Bate of Cunninghams Real Estate.
Written for “Home Sale Rejection” on 2026-10-04,
grounded in this article and the 0 other(s) covering the same event.
A vendor accepted a bid of $4 million when her Balgowlah property passed in on Saturday, $20,000 less than she was offered by another party.
asserted
she → accept → party
Two parties expressed interest in four-bedroom 28 New Street West earlier in the week, sales agent for Cunninghams Real Estate, Georgi Bate said.
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agent → express → Estate
But one group, a family from interstate, advised her on Friday that while they would attend, they would not be registering.
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they → advise → Friday
The other party, a couple with adult children, were the sole registered bidders and said they would rather negotiate privately after the property passed in.
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property → register → children
On that advice, auctioneer Emma Brown-Garrett passed it in without a bid and Bates asked everyone to leave.
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Bates → pass → everyone
Negotiations then began, with the registered bidders increasing their pre-auction offer of $3.8 million to $4 million.
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bidders → begin → million
The vendors advised they were open to that offer.
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they → advise → offer
However, the unregistered party, who was still present at the property, then made a counteroffer of $4,020,000.
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who → make → 4,020,000
The vendor decided to take the original offer from the registered bidders.
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vendor → decide → bidders
The property had a guide of $3.8 million and a reserve of $4,050,000.
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property → have → 4,050,000
There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.
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reserve → be → guide
“The vendors were happy with their decision,” said Bates.
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Bates → say → decision
“I said, ‘You could have gone with the higher offer.’
uncertain
You → say → offer
“[The vendor] said, ‘I could see they were ready and here to register, and I was happy with that price.’”
uncertain
I → say → price
The vendors plan to move closer to their adult children on the lower north shore.
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vendors → plan → shore
The property was one of 600 scheduled to go to auction in Sydney this week.
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property → schedule → Sydney
In Glebe, a single bid of $4.2 million secured the keys to a four-bedroom terrace in the prestigious Toxteth Estate.
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bid → secure → Estate
Two parties registered on the day to bid for 20 Toxteth Road but when the auction opened, no one raised their paddles.
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one → register → paddles
The auctioneer then placed a vendor’s bid of $4.1 million.
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auctioneer → place → million
A bidder, an investor with an interest in blue chip property, offered a further $100,000 and the property sold.
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property → offer → 100,000
The property had a reserve of $4.2 million, the same as the guide.
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property → have → guide
Sales agent for BresicWhitney Inner West Chris Nunn said some buyers saw current market conditions as an opportunity to bid for a property with less competition.
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buyers → say → competition
“At the moment, nerves are getting the better of people, and it’s leaving a good opening for discerning buyers who can hold their nerve to purchase at a fair price,” he said.
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he → get → price
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