{"id":29145,"date":"2020-11-17T12:30:11","date_gmt":"2020-11-16T23:30:11","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=29145"},"modified":"2020-11-17T12:30:11","modified_gmt":"2020-11-16T23:30:11","slug":"the-20-somethings-behind-australias-record-24-6m-auction-house-price","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/the-20-somethings-behind-australias-record-24-6m-auction-house-price\/","title":{"rendered":"The 20-somethings behind Australia\u2019s record $24.6m auction house price"},"content":{"rendered":"

PHOTO: The five-bedroom residence with a tennis court and pool is set on 1085 square metres.\u00a0Photo:\u00a0Supplied<\/span><\/strong><\/p>\n

While many of the nation\u2019s 20-somethings are contemplating how to gain a foothold in the property market, Junlin Lan and Hairu Yang are upgrading to a $24.6 million house\u00a0\u2013\u00a0Australia\u2019s most expensive house sold at auction<\/a>.<\/p>\n

The buyers of the Vaucluse mansion, formerly owned by the late Japanese businessman Akihiko Terada, have remained a tightly guarded secret since the hammer fell on the historic auction in September, despite the bullish result being more than $10 million over the reserve.<\/p>\n

Lan and Yang, 26 and 29 respectively, are already luxury home owners in Sydney, having purchased the\u00a0two-level penthouse atop atop the\u00a0Swissotel in the CBD three years ago for\u00a0$10 million from hair salon founder Christine Warbrick and her late husband Warwick<\/a>.<\/p>\n

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The Vaucluse Road residence was commissioned 15 years ago by the Kariappa family. Photo: Supplied<\/strong><\/em><\/figcaption><\/figure>\n

The young couple, originally from China, outbid 11 other bidders at the Sotheby\u2019s International auction, at which the opening offer of $13 million was well above the $11 million guide offered to\u00a0Domain<\/em>\u00a0by selling agent Michael Pallier the day before. More than half of the 25 registered buyers never raised their hand at the auction.<\/p>\n

A reserve of $14 million was also left far behind as bids of $100,000 saw the result pushed to $24.6 million.<\/p>\n

The result eclipsed the previous national house price auction result\u00a0set in 2009 at $23 million when media boss Lachlan Murdoch and his wife Sarah<\/a>\u00a0bought the French government\u2019s official residence of its trade commissioner, Le Manoir, in Bellevue Hill. At the time Le Manoir had a guide of $15 million.<\/p>\n

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The $24.6 million sale eclipses the $23 million auction record of 2009 when the Murdoch family bought Le Manoir in Bellevue Hill.<\/strong><\/em><\/figcaption><\/figure>\n

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