Securing Wolli Creek’s Best 1-Bedroom Apartment – Under Budget
The Client
A young professional relocating from Melbourne to Sydney for work. After months of flying back and forth while house hunting, he was eager to secure a home before his scheduled move.
With Christmas fast approaching, he had his eye on what was arguably Wolli Creek’s best one-bedroom apartment, scheduled to go to auction — a format he wasn’t comfortable with and couldn’t attend in person.
After several phone conversations where we explored his options, he decided to engage me to represent him at auction.
I always tell clients: if someone else is willing to pay significantly more than you, no strategy can overcome that. But if you're going to be the final bidder, my job is to make sure the underbidder stops bidding — keeping the final price as low as possible.
That’s where the value of a buyer’s agent at auction truly lies.
The Property
This apartment was incredibly unique — arguably the best one-bedroom available in Wolli Creek at the time.
Size: A massive 144sqm total (larger than some 3-bedders!)
Layout: Oversized internal floor plan with a spacious bedroom, large living area, and a study nook
Outdoor Space: A rare 50sqm terrace overlooking the Cooks River with distant views of the CBD
Parking: Double car space — another uncommon feature for a one-bed
Pricing it was tricky. But uniqueness adds value.
For context, the highest price previously achieved for a one-bedroom apartment in the area (not off-the-plan) was $796,000 — for a smaller, ground-floor unit with no car space: See that sale here
The Auction
With a price guide of $700,000 and five registered bidders, there was an initial delay — one bidder failed to show up and stopped answering the agent’s calls. As others waited, I saw the opportunity: one less active bidder is a win. I encouraged the auctioneer to start right away.
These nuances — who shows up, who doesn’t, even how I present myself — all factor into auction psychology and strategy.
Bidding opened at $710,000 and moved in $10,000 increments between three buyers. I entered the bidding at $770,000, then pulled back briefly to create the impression I was out. This tactic flushes out hesitant bidders waiting to jump in.
As an investor crept toward $800,000, I knew it was time to shift gears. I slowed the pace, moving to $3,000 increments, drawing out his bidding fatigue — all while sitting comfortably under my client’s maximum budget.
The Outcome
We secured this stunning apartment for $825,000 — only $30,000 more than the area’s highest previous one-bed sale, despite our apartment being significantly superior in size, layout, view, and parking.
Even better? We were well under the price my client was prepared to pay. That’s what smart auction strategy can deliver.
The hammer falls in our favour!
Key Takeaways
Having someone bid on your behalf at auction can save you tens of thousands of dollars — or more. In this case, we secured the property for over $100,000 less than my client’s upper limit.
My auction fee is $825. For the right strategy, that’s money very well spent.
