Auction of Real Estate turns 180 years old

Thursday, 1 June 2017

180 years ago, the first land in Victoria was sold by public auction on June 1, 1837. Originally known as Port Phillip, 100 lots of land were sold in what is now known as the Melbourne CBD. The gross sale was £3,800 and the average sale price of a block was £35. Only one lot reneged (or cooled off) and the commission for the Auctioneer, Robert Hoddle, was £57 or 1.50% to read more on Hoddle go to: http://adb.anu.edu.au/biography/hoddlerobert-2190

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