The auction of a prized Portsea bathing box yielded $440,000 at its RT Edgar auction today.
There were two bidders at the twilight onsite auction conducted by RT Edgar Real Estate Portsea agents Warwick Anderson and Ilze Moran.
In January 2011 a Portsea box set a record $585,000 when five bidders fought for the property at ITS RT Edgar auction. Another fetched $455,000 in January 2010. There had been a record $362,500 sale in January 2008.
While today's listing is among the prized Shelley Beach boxes, it is set well back from the water and a bit far up the beach too, so more of interest to just the immediate surrounding properties than the ones sold in recent years.
A Rye bathing box fetched $400,000 on Saturday in what the market has quickly viewed as an out-of- line sale for the Tyrone foreshore.
RT Edgar also conducted the auction, which attracted 200 plus attendees despite its low-key marketing.
Another Rye bathing box was passed in at weekend auction at $170,000 – around market expectations – through through Emil Foller from Bennison MacKinnon Sorrento.