Featured Auction. South Melbourne

Auction Date: October 25, 2025

FEATURED HOME: 7 Wilson St South Melbourne

The $385,000 Con: How This Agent Used a $1.30M Quote to Sell for $1.685M

The Disappeared Intelligence: 7 Wilson St, South Melbourne

This case study perfectly illustrates the systematic under-quoting strategy that wastes buyers time and drives up final prices. We tracked the agent's price revisions from the moment the property was listed until the hammer fell.

Featured Home: 7 Wilson St (clink link)

Advertised 24 Sept' $1,400,000 - $1,500,000 (click Link)

Revised 1 October $1,300,000 - $1,400,000 (click link)

Revised 16 October $1,300,000 - $1,430,000 (click link)

Auction 25 October - 4 bidders from $1,400,000

On the market $1,675,000

Sold $1,685,000

Agent: Nicholas Hoo. Marshall White.

The Shocking Reality

The agent started at $1,400,000 and then strategically dropped the bottom of the range to $1,300,000 to attract maximum interest.

The final sale price of $1,685,000 was +29.6% ABOVE THE LOWEST ADVERTISED QUOTE

What This Means for You the Buyer

2. Wasted Time: If your budget was $1,430,000 you wasted weeks on a property that was $255,000 outside your budget. 
3. The Red Flag: The multiple price revisions (down, then up) are a clear sign of an agent attempting to manipulate the market and the buyer pool.
4. The True Price: The property was likely worth $1.685M all along. The lower quotes were simply bait.
5. The Lesson: You need to know the agents quote vs actual price history before you attend the first inspection.

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