Auction Market Wrap 🗞️ Brothers Brawl Over Auction Price

Send us a text

My Clearance Rate: 3/5 SOLD

Episode Transcript

Speaker 1 (00:00):
Watching two siblings .

(00:01):
Two siblings argue over moneyin front of me and in front of a
crowd.
So typical scenario deceasedestate parents leave a property,
two sons.
They can't agree on what figurethey're going to accept during

(00:24):
the auction.
Agree on what figure they'regoing to accept during the
auction.
One son turns around and saysI'll take the offer that we've
been given, even though I wantedan extra hundred, but I'm
prepared to actually reduce myexpectations and get a deal done
today.
Close the door, close the story, bring closure to the end of a

(00:46):
family home that the kids werebrought up in.
The other son said no, I'm notreducing.
And then he says if you'rehappy to reduce and accept less
as your share, I'm happy to dothe deal to bring closure to it,

(01:09):
but I want my money.
Here's where the story getsinteresting.
One of the boys is quitewealthy and one is not, and one

(01:32):
is not One, I found outsubsequently, owns multiple
properties, whilst the other oneis renting.
Ironically, it's the renterthat turned around and said he
was happy to accept what wasthere.
The other gentleman actuallyput it to him and said you take
less, but I want my money Ifyou're prepared to give me my
share by you subsidising, we'lldo the deal.

(01:54):
Obviously, that triggered a bitof a heated discussion between
the two siblings, between thetwo siblings stormed off, no
deals done.
But I'm letting you know one ofthe things I see as an
auctioneer on Saturdays, whichis only a small part of my life

(02:18):
as I've said to you before, 90%of my life is actually not
auctioning but on Saturdays Isee things that I think the mum
and dad of these two kids wouldhave been turning in their grave
.
Money makes people do illogicalthings and I'm letting you know

(02:41):
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 workedreally, really hard, often
low-paying jobs, cleaners, etcetera, worked really hard.

(03:04):
They saved their money, theybought things, they bought
assets, they became wealthy andwe've seen their kids now enter
the world of inheritance.
And what's interesting iswatching this play out, even in
the community that I come fromGreek-Australian.

(03:27):
I'm an Aussie born here ofGreek heritage, but I can see
the arguments that siblings haveover money and it's all to do
with the way property is splitup.
It's going to be fascinatingwatching the next 10, 15, 20
years.
It's something that I justcan't understand.

(03:51):
I had one brother.
Fortunately I lost him youngand when I see siblings fight
over money it makes me sick thatmany vendors would have just
come up with the conclusionEaster Anzac Day federal

(04:12):
election.
Let's just wait and go at somepoint after the election in May.
Let me talk to you about theresults.
Smallest number of auctionsI've had as an auction day this
year five properties scheduledfor auction.
Three out of five have sold.