The Richmond auction result on this dilapidated wreck of a home has created a real buzz on comment. As reported by Chris Vedelago; “Three bidders fought over the property, with the winner paying $700,000 at the fall of the hammer when the price blew past the $630,000 reserve. (Yarra council assessed the site value at $585,000 and the capital improved value at $630,000 in early 2010)”. So, yes, there a properties that make you stand up and pay close attention amongst the hundreds out there. Question is, what are the key ingredients that make something worthwhile? More…



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