THE district village of Millthorpe has joined the $1 million real estate club.
Agent Tom Campbell from Bowyer and Livermore First National said that he was elated to have sold the first $1 million residential home in Millthorpe, although he wasn't at all expecting it.
The property sold for $1,060,500.
"It was a very difficult property to appraise because there has been nothing like it sold before in Millthorpe," he said.
When it went over the mark, I let out a big 'woohoo' ... it was so loud that I actually apologised to the lady in the office next door.Tom Campbell after a property in Millthorpe sold for over $1 million
"I was thinking around the mid-$800,000 mark and the vendors were hoping for $900,000. The previous highest price was $825,000 and that was over a year ago."
Mr Campbell said that there were six people bidding on the property. Four were locals, one from Sydney and one from further west in NSW.
"The new owner is a Millthorpe local who is looking to downsize but still have room for grandkids," he said.
Unlike in a traditional on-site auction, Mr Campbell said that when the bidding tipped over the $1 million mark during the online auction, he let out more than a little whoop.
"I honestly didn't think it would get there, but when we were watching the auction tick away, when it went over the mark, I let out a big woo-hoo," he said.
"It was so loud that I actually apologised to the lady in the office next door."
Mr Campbell sees the future of online bidding becoming more entrenched and is encouraged that two-thirds of the bidders were still locals.
"The bidders can be anywhere," he said.
"All people need is a good internet connection and they can do it all from the comfort of their own home and it's a very transparent way of selling because everyone knows where the bids are and it takes some of the guesswork out."
The Millthorpe home's $1m-plus result at online auction was at the opposite end of the spectrum to an online auction recently when a house in Peak Hill sold for $64,000.
Buyer Julian Kilby said he was happy to use the online auction method.
"I didn't feel disadvantaged or left out because I could still be part of the auction remotely," he said of the sale.