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Vitale Achieves Highest Sale Price 'Under the Hammer' since June 2009

Monday, 25th February 2013

While the annual Cottesloe to Rottnest swim was underway on the fine morning of 23rd February 2013, approximately 100 people gathered to witness or bid at the Auction of the well-known penthouse apartment at 7 Pearse Street in Cottesloe. The massive 440sqm ocean and golf course view apartment owned by renowned local builder Danny Psaros was marketed by David Vitale as the “Prize on Pearse.”

There were three bidders taking part in the action – the bidding started at $4.5M and went to $4.7 where it hesitated. Auctioneer David Vitale halted the call to negotiate with the bidders while the audience patiently waited to see the outcome. After a number of minutes, David Vitale reopened the bidding with two further bids coming from the audience. After three calls, David knocked the property down to the highest bidder at a price of $5.25M. This was the highest sale price to have occurred in Perth ‘under the hammer’ since June in 2009.

NB. Permission to publish the above photos has been granted by the client.