Entertainment & Music The new block 2017

Indeed!

I worry about Clint & Hannah, who have moved to Melbourne & want to do more reno'ing. I can see the small windfall they made from the show disappearing very quickly.

 

the problem was there was a very limited number of buyers.
J&E were bound to get a good result going first. It had the most interest and created a competition between at least 2 x serious buyers who saw value around $3m. I don't see it as the BA fault for overpaying.. They weren't to know how limited the competition would be in the 3rd, 4rth and 5th properties.

But there wasn't any more competition in the 3rd auction? The buyers with the biggest wallets were in the first two.

Hate to say it but Jason & Sarah's house was very attractive house that appealed to at least 2 x emotionally invested buyers.
R&G shot themselves in the foot by doing the backyard and front yards that they did, polarizing their house. It must burn Georgia deep inside seeing J&S walking away with such a big amount

 

Agree with much of that. I just can't stop thinking of the fantastic value buyers got for the last 3 homes. Definitely not worth 3-400k less than first 2 homes imo. Most of the 'dislikes' could be fixed without too much cost. Also agree not enough buyers with money there.

 

Whats the go with the buyers agents frank , nicole and those others. Is it agreement that a potential buyer must go through them? Couldnt anyone just register then bid?

Eg dave hughes who bought J and E was there onsite so why not buy himself instead of the buyers agent.

 

Ouch for sticks and wombat 45k each. A waste of time, oh well gotta take the chance

 

Not really, most people don't make anywhere near 45k in three months

 

@lightbulbmoment I have a feeling that for Wombat $45k will feel like 450k

 

Got to weigh it up,

Lost family time
Your head on national tv portrayed however the producers feel.
Way more then 3 months work lots of big days.

 

They knew they would lose family time and be subject to the whims of the producers regardless. I don't think anyone goes on these shows expecting otherwise. You'd have to be pretty niave IMO. No one said they were guarenteed to get half a million dollars. People on these forum think that everyone is rolling in money for some reason. 45k in three months could well be the equivalent of doubling or tripling your yearly income for many people.

Also keep in mind that the television exposure will probably give them many opportunities they otherwise would not get too. Elyse got a massive boost to her modelling career already, for example, and that was before it was known that they won

 

I have not watch the show, but watched the auction last night.

Can anyone explain why the first auctioned property achieved the highest price? Just curious, huge discrepancy from first to last auction

 

Location: it had the most northerly aspect, which is sought after in Melbourne. Best kitchen, best backyard.

 

Sticks and Wombat were never going to get a high price because they didn't know how to create the right style for the area. Their low price set the standard for the rest of the auctions. I mean Nicole's buyer wanted the house and she didn't even bid. I very much doubt that would have happened if R&G's house was after Jason and Sarah. There were 3 bidders for R&G's house but they were all keeping quiet because of Sticks and Wombat setting a low price.

 

Someone mentioned on the show last night that the profits were tax-free, surely that's not the case - earnings are earnings?

 

I think it would count as a competition win, like lotto. Pretty sure that's tax-free too. They won the money, rather than earned it - other block people have left with nothing, so it's not earnings as such.

 

I guess one auction demonstrated the risks of waiting to bid until the property is declared to be "on the market". One was simply passed in without further notice when the auctioneer sought instructions.

This was to the obvious bewilderment of a couple of buyer's agents, who it would be assumed were very experienced in auction bidding strategies.
Marg

 

It's a game show. Are game show prizes taxable income?

This is the view from last time the same question was asked:

From this thread: Are The Block winnings taxable?

 

Wow, amazing. I must get my wages paid as competition winnings -

 

Good point that S&W low price set a new low 'market rate' for the properties..
But, if there really were 3 genuine bidders who liked R&G's house then there would have been more bidding. Even after it was called in there was no interest, no competition to get the price up.

The way I see it there were only 3 x bidders in the total pool of buyers for all houses, who were prepared to pay over $3m. Obviously competition for the first house, just enough (2 x bidders) for the second house. But not enough for S&W and R&G's..
Nicole's Buyer may have been prepared to pay over $3m, but there was no competition to drive it over $3m even if they did auction 3rd, imo.

 

Your boss may be keen to do that.. heads you get paid, tails you don't

 

It's impossible to tell what would have happened if the auction order was different but we do know that Nicole's buyer wanted the property but Nicole didn't make a single bid. Actually, Nicole was the eventual purchaser but didn't make a bid. This is very strange behaviour for a buyers advocate and I am betting it would not have happened if Sticks and Wombat's house didn't sell for so low. Of course there is no way to be sure.