Auction Market Wrap 🗞️ Brothers Brawl Over Auction Price

My Clearance Rate: 3/5 SOLD

Transcript

Siblings Argue Over Auction Price

Speaker 1 0:00

Watching two siblings . Two siblings argue over money in front of me and in front of a crowd . So typical scenario deceased estate parents leave a property , two sons . They can't agree on what figure they're going to accept during the auction . Agree on what figure they're going to accept during the auction . One son turns around and says I'll take the offer that we've been given , even though I wanted an extra hundred , but I'm prepared to actually reduce my expectations and get a deal done today . Close the door , close the story , bring closure to the end of a family home that the kids were brought up in . The other son said no , I'm not reducing . And then he says if you're happy to reduce and accept less as your share , I'm happy to do the deal to bring closure to it , but I want my money .

Speaker 1 1:13

Here's where the story

Wealthy vs Renting Brother Standoff

Speaker 1 1:14

gets interesting . One of the boys is quite wealthy and one is not , and one is not One , I found out subsequently , owns multiple properties , whilst the other one is renting . Ironically , it's the renter that turned around and said he was happy to accept what was there . The other gentleman actually put it to him and said you take less , but I want my money If you're prepared to give me my share by you subsidising , we'll do the deal . Obviously , that triggered a bit of a heated discussion between the two siblings , between the two siblings stormed off , no deals done . But I'm letting you know one of the things I see as an auctioneer on Saturdays , which is only a small part of my life as I've said to you before , 90% of my life is actually not auctioning but on Saturdays I see things that I think the mum and dad of these two kids would have been turning in

Inheritance Wars in Migrant Communities

Speaker 1 2:34

their grave .

Speaker 1 2:34

Money makes people do illogical things and I'm letting you know that we're entering an era , particularly with the migration , that happened . Greeks , italians , lebanese 30 , 40 , 50 , 60 years ago , 70 years ago . Many of these people worked really , really hard , often low-paying jobs , cleaners , et cetera , worked really hard . They saved their money , they bought things , they bought assets , they became wealthy and we've seen their kids now enter the world of inheritance . And what's interesting is watching this play out , even in the community that I come from Greek-Australian . I'm an Aussie born here of Greek heritage , but I can see the arguments that siblings have over money and it's all to do with the way property is split up .

Speaker 1 3:43

It's going to be fascinating watching the next 10 , 15 , 20 years . It's something that I just can't understand . I had one brother . Fortunately I lost him young and when I see siblings fight over money it makes me sick that many vendors would have just come up with the conclusion Easter Anzac Day federal election . Let's just wait and go at some point after the election in May . Let me talk to you about the results

Auction Results Amid Holidays

Speaker 1 4:21

. Smallest number of auctions I've had as an auction day this year five properties scheduled for auction . Three out of five have sold .