Around 150 people were present on Saturday to see the Thomas Burcher home home baron entering an auction at a request of $ 23.25 million, with discussions continuing up from & late to & 39; r afternoon.
Ben Collier, from the Agency, was not available to do at the time of printing, but at that level the property is expected to sell later on Saturday for more than a record of Sydney's previous auction of $ 23 million set by the Le Manoir estate in Bellevue Hill in 2009.
The highly anticipated auction is the first major ticket to market market in Sydney this year, carrying a $ 25 million guide.
According to a source in the room there were six registered buyers, but not all had applied. China's buyer has the highest offer.
The strong buyer's interest forced Mr Collier to change the sales campaign of expressions of interest to auction a week ago to create greater transparency among buyers and offer more sales to the seller to negotiate.
The concerns of privacy, media and other sales agents are not allowed to attend auction, although competing agents distribute their cards to be buyers as they leave the property.
Burcher, who is the head of the Burcher Property Group, bought the three-level residence in 2010 for $ 12.5 million from developer Michael Issa and wife Anastazija Balaz.
Major refurbishment as it includes redesign by the architect Bruce Stafford, interior by Hare + Klein, and landscaping gardening by Anthony Wyer.
The five bedroom residence, five bathrooms has to be installed on a bank with a private boat shed, a harbor front pool, and an internal lift across three levels.
"Usually, you do not see expensive homes of this standard highlighting the type of demand of a buyer who would justify auction because the purchaser pool is in that price range much less , "said senior research analyst Domain, Nicola Powell, earlier this week.
"But an auction will highlight that competition to the open air, so this should be a good test at the top of the market."
Last year John Schaeffer, John Schaeffer's art and business collector sold the historic Bonnington mansion in Bellevue Hill under the hammer for $ 20.32 million to the fund manager Ari Droga her wife architect Lisa, making it the result of second highest resale.
The result was the third highest auction in 2010 when the harbor chairman at Point Piper sold for $ 17.3 million to the executive chairman of Caledonia Investments Mark Nelson.