Greville Pabst Buys House 5 at The Block 2019 Auctions

Greville Pabst bought House 5 at the 2019 Block auctions, securing Jesse and Mel's property at The Oslo in St Kilda for his client, with Peter Kakos of The Agency as auctioneer. Speaking with 9Entertainment afterwards, he reflected on a day when all five properties sold above the reserve of $2,990,000.

Greville explains that he, like most observers, had expected at least one property to be passed in, and describes selling five prestige houses in one line on a single afternoon at more than three million dollars each as a demonstration of both the strength of the market and the power of The Block brand. He recounts the bidding duel for House 5, which he won against Danny and Frank, having earlier lost House 3 to Frank Valentic, and describes using livestreaming technology to bid for a client who was overseas. Much of the conversation turns to auction order and the risk of going first, which he explains requires genuine buyer depth, as registrations do not always translate into bidding. He draws a comparison with the Gatwick auctions the previous year, where the first property also sold below expectations, and closes on the price he paid for House 5, which he considered well under value.

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