The Block reserves were conservative or did the buyers overpay?

The Block Sky High initial reserve prices were set before the renovations:

• Apartment 5 Trixie & Johnno – $1.41 million
• Apartment 4 Madi & Jarrod – $1.34 million
• Apartment 3 Bec & George – $1.28 million
• Apartment 2 Matt & Kym – $1.22 million
• Apartment 1 Alisa & Lysandra – $1.16 million

So there was  $250,000 difference between top and bottom offerings on initial valuation.

The final sale price had the difference at $170,000 suggesting the design and emotion of the auction had an impact. Or the valuer setting the reserve got it something wrong. 

• Apartment 5 Trixie & Johnno – $1.605 million
• Apartment 4 Madi & Jarrod – $1.601 million
• Apartment 3 Bec & George – $1.507 million
• Apartment 2 Matt & Kym – $1.455 million
• Apartment 1 Alisa & Lysandra – $1.435 million

The profit amount over amended reserves:

• Trixie & Johnno – $205,000
• Madi & Jarrod – $291,000
• Bec & George – $242,000
• Matt & Kym – $250,000
• Alisa & Lysandra – $295,000

 

{module Which Block Sky High apartment sale price will be the hardest to get a profitable resale on?}