The Block Auctions 2022
By Advantage Property | 11th Nov 22
THE BLOCK AUCTIONS 2022
The Block 2022
The Block auctions in 2022 are now over and Omar and Oz set a new all time Block auction record. Adrian Portelli pushed Danny Wallis to pay a whopping $1.66 million over reserve. Here’s how they all ranked:
House 5 – Omar and Oz: Sold for $5,666,666 reserve $4.08 million, profit $1,666,666 + $100,000 winner’s prize = grand total $1,766,666
House 2 - Rachel and Ryan: Sold for $4.249 million, reserve $4.08 million, profit $169,000
House 1 – Tom and Sarah Jane : Sold for $4.1 million , reserve $4.08 million, profit $20,000.
House 3 - Ankur and Sharon: Sold for $3,930,000, reserve $3.4 million, currently still for sale
House 4- Dylan and Jenny: Sold for $4.08 million, currently still for sale
Omar and Oz dominated the winnings and overall it was a similar $2,171,968.11 for windfall in total the last Hampton series.
Though, this was well below the $3,332,002 above reserve we saw at the Brighton series. The 3 contestants who sold can thank Danny Wallis again for his bids. Again, he broke every rule on how you should bid at an auction as upping bids by $300,000 or more is not a smart strategy
It was a disappointing day for our Buyer’s Advocate clients at our 14th consecutive series of The Block auctions, but it is important to stick to your auction budgets. We bid on all five properties for our investor clients who only saw value around the $4 million mark.
The auction order was again crucial as The Block’s auctions usually start with the most popular properties first and finish with the least popular properties. Contestants who are earliest in the order are at a big advantage as there is a larger buyer pool and more buyers competing.
After taking hundreds of buyers through the houses over the last few months, I received consistent feedback that Tom and Sarah-Jane would battle it out with Omar and Oz. Our Buyer’s Advocate Company had no interest from local young families as our interest was only from investors. We were disappointed to miss out on all five houses, but it is important to stick to your budgets and not overpay and not get carried away with all The Block hype. Previous Brighton and Hampton series were popular with our owner occupier clients, but most sat it out on the sidelines and our main clients were investors.
It has been interesting talking to people about Danny Wallis’ bidding at the auctions with his trademark cent bids. Many people think that his bidding should be banned as it disrupts the auction and other bidders and it is against the law and there are meant to be fines and penalties for buyers trying to disrupt other buyers. Many have also suggested his bidding style is intimidating as he is forever trying to give intimidating stares to other bidders, including myself during the auction but I just got on with business and stayed focused.
Congratulations to all of The Block contestants that sold. We were excited to bid on our 14th Melbourne series of The Block, having now bid on a total of 48 of the 58 Melbourne Block properties. We continue to hold the record for bidding on more Block properties than any other Buyer’s Advocate. This veteran Block Buyers Advocate looks forward to hopefully being involved in our 15th Melbourne series when The Block moves back to Charming Street, Hampton East.