Rubberneckers outnumber bidders at million-dollar auction

Auctioneer Ted White wraps up the sale of the Mission Bay house at $1.34 million. Photo / Brett Phibbs

Some looked nervous and others curious, while a few looked downright defeated.

But only one person had the winning smile on the day, after a thunderous "sold" rang out in the background, walking out as the new owner of a pristine property in Mission Bay.

About 20 people turned out to the auction this week - one of the few happening in the area.

A number of people - their hands behind their backs and examining every bit of furniture twice over - were looking genuinely interested.

Others were admiring the fixtures in the bathrooms and living areas much more openly, obviously there more out of curiosity than business.

Shirley Tan, who moved into the area recently, said she was among those who had come purely to see how much the property at 109B Aotea St would go for.

"It's a nice area. You're paying for the house, the land and the view. I was curious to see how [the auction] would go, so came down."

Only a handful of people were there to bid, but they were hesitant to put their hands up first.

Auctioneer Ted Ingram was cheerful and witty, encouraging punters - who were nervously eyeing everybody in the room - to start the bidding game.

"$1.3 million," someone whispers from a corner.

All eyes dart to the woman in black.

Mr Ingram fires off a fast-paced muddle of words as the real estate agent rushes towards another potential bidder, whose shoulders have slumped.

The words "little bit expensive" are clearly audible and, just like that, he's out of the bidding war.

With stunning views of the harbour, yummy cafes and restaurants up the road - not to mention the beach - the property's owner is not going to sell this baby cheap, with a capital value standing at just over $1.4 million.

It sold on auction day for $1.34 million.

Stephanie Kelland, of Ray White, says auctions have become increasingly popular given the "right then and there" process.

"If the property is sold, there's no conditions. It's cash up front. A lot of people come along because they like that it's transparent," she said.

"You can see who you're competing against and you're really negotiating with other bidders. At the same time, you get to come on site and see the property for yourself."