Desire, A Recipe For Auction Success

Psychologists would argue that desire arises from bodily structures such as cravings, a need to have or lust, and that emotion is purely a mental state. Well, I beg to disagree. Real estate can be highly emotive, and the desire to have can create a fusion that can not be measured by monetary outcome. Last weekend, was a perfect example of what can happen. An auction for the ages, a modest villa sold for 30% more than anything else like it that had been sold recently. It was a life changing break for my clients. To quote somebody else, the end result was more in keeping with the sale of a family home, just like the Beach Box that was sold just recently in Brighton. Fortunately, I was acting for the vendor. Many times, acting for clients buying for investment, I have been outbid by land banking foreigners or owner occupiers. Makes sense really, our desire was based on return and fact, not emotion or a bottomless pocket. So, in closing, was Jamie Packer’s $10 million Diamond Ring an object of desire or was it Mariah Carey? I think both, that’s love.