Dec

15

The Decoy, shared by Craig Mee

December 15, 2014 |

 Sneaky auction tactics puts buyer on top in Cremorne:

Sneaky bidding tactics paid off for a family at a Cremorne auction on Saturday. Seven buyers registered to bid for the unrenovated Federation house two blocks north of the Oaks Hotel at 214 Ben Boyd Road, but only four groups raised their registration cards. When auctioneer Peter Matthews, of Ray White Lower North Shore, brought down his gavel at $2.09 million, the underbidder crossed the front path and hugged the buyer.

The crowd of 30 onlookers were left scratching their heads. The decoy was distracting her competitor with incremental bids, paving the way for her father to slam down two intimidating bids, the second of which ended the auction.

The pair had used the little-known "daughter decoy" strategy, which managed to muscle out a young Paddington family, who retreated looking disappointed. "You do what you have to do," the decoy said.


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