Buyer of Sir Ed's home paid more than expected

The mystery buyer of Sir Ed Hillary's Remuera house paid a little more than expected for it.

The property downturn did not damage the fortunes of the house and two monetary transactions were needed to secure it.

Graham Wall, the real estate agent who acted for the buyer at Wednesday's Bayleys auction, said he had to present two cheques to complete the deal.

The saga started when he phoned agent David Rainbow in the morning, advising him he would be at the 2pm auction and intended to bid.

"There's nothing unusual about that. I've done it before. It's nothing sinister or strange or unusual. It's easier to act when it's not your money," Mr Wall said from his Shortland St office.

He was not given a top figure, just told to use his common sense. "I didn't have a number and I didn't ask any questions of the entity asking me to do it. I was just told to use my head."

Mr Wall told Mr Rainbow that he was serious and he would be bringing a cheque to the Viaduct Harbour auction rooms. He got his instructions from a law firm and the first cheque drawn up was expected to be enough for the deposit.

Even though the auction stalled temporarily at $1.5 million, Mr Wall bought the house for his client for $1.9 million.

But that first cheque was not enough and a second went to Bayleys a day later.

Heritage campaigners were this week asking Mr Wall who the buyer was and what they intended to do with the place.

"My job is now done," said Mr Wall.

The buyer's identity could well be revealed in the next few weeks when the property's title is transferred to the new owner.