Spoiler: The Renovators – The First Two Auction Prices Are Out
You always knew it would happen but the auction results for the two houses that were up for sale last night are now out.
Frankly I think it is a bit bizarre that Property Observer are the ones dropping the clanger on how much the Parramatta Weatherboard and the Marrickville shop sold for.
I am not going to put the prices up on the blog as there will be readers who won’t want to know.
I am always a bit conflicted by spoilers – you think you want to know them, but then finding them out always takes the suspense out of the show.
However click here if you just have to know now.
I would advise people who don’t want to know to not look at the comment thread either.
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74 comments
Thanks RR! I love my spoilers.
Have just checked on the Renovators website, and by their figures of cost prices and budgets, one of the properties has come in at a loss? If that’s true, I’m so relieved!
Won’t give the selling prices, but if you’re interested, the cost prices and budgets from the Renos website are :
Weatherboard : $573 855
Shop : $713 676
Bugger. With me Super having fallin’ off the GFC cliff to land Wile E Coyote style on an wobbly rockshelf awaiting ACME’s Euro-Disaster 2011 to shatter around it, I had hoped that housing renos would be an nest egg option. Factor in labor (yer own) and what a dismal bloody investment. Looks like its Queen of the Nile for me. Ahhh…the flashing lights. Ahhh… the tinkly music. Ahhh… drinkin’ from the schooner of failure. *beep beep*
I have been watching the renovators since the start and love the show although I share many of the same frustrations that have been mentioned in previous posts.
I’m sorry to say, that based on the selling prices of the two houses sold last night, I’m beginning to think the winner, who I understand is the person who makes the most profit and then goes on to win the profits from all the houses, might walk away with the grand sum of a few $!
Pamie – you could be right that $100,000 The Block offers for the winner above the profit is starting to look generous.
What a shame! Did anyone else think the budgets were quite high to start with?
The total costs of the other houses are :
Fibro : $371 988
60s Suburban : $758 194
Half Done : $802 084
Terrace : $899 268
Hopefully there’ll be more spoilers tonight/ tomorrow for the other results. Go the Fibro cottage!
I’m almost certain that the fibro will win cause theirs was cheapest and they kept winning prizes with took their budget really high especially the pool which was almost the cost of their entire budget
I’m glad after tonight’s elimination! He deserves it for being a jerk… don’t understand why he got such a big advantage!
much preferred glass hall stand…
bugger
August is the lizard king of renovators with a really weird accent to creep me out more. He could do really well with a new career doing the VOs for homes from hell
I estimate the Fibro to go around the 430-450k mark and the 60′s Suburban will be the surprise draw card! I think the 60′s could pull in 820k + – I love both the houses and hope one of them is the winner as long as Michael and Nathan are the ones left holding the keys
I wonder what they would have got for the weatherboard had the auction included a selection of Keenan’s unwashed singlets:)
Pamie or a photo of him topless hanging in the lounge room. It was lacking in furniture.
So no word on the results of last night’s auctions?
I guess I don’t mind being kept a little in suspense, as long as I know the person I don’t like won’t win.
*************SPOILER***************
August is definately NOT the winner
aussie renovator- you have just made me supremely HAPPY !!!
SPOILER ALERT!!!
Fibro cottage sold for $440 000
Ooh thanks Minnie, any other spoilers out there for the other houses? I guess I CAN wait if I have to, but would love to know (and kind of see this as sticking it to channel 10 for stuffing this series up so monumentally in so many ways).
Ok SPOILER ALERT
I read this on a facebook discussion page (and so it could be wrong I guess) but the 60s suburban apparently went for $730K
Does anyone know if the winner has to absorb the losses from their winnings?
@JandB no worries and which facebook page did u get that from?
So if Fibro sold for $440K, that gives it a profit margin of 18.28%. From the numbers I posted above in #7, (and if these are the only costs they have considered) , this means Terrace needs to have sold for around $1.064 million to take the prize.
I’m assuming Half Done house, with its damp issues, bathroom and styling, would not have gone for the $ 949 K it needs to beat this.
I tried opening agent page this morning and all locked now. Half done only got locked this morning. Don’t like privacy issues with fb so not going there to get prices. Fingers crossed for navy blue boys.
The 60s suburban result was from: http://www.facebook.com/topic.php?uid=140570279341163&topic=233
Haven’t heard any mention of terrace price. Anyone know???? Pleeese!!!
if your looking for details of each house and the funds required at sale scroll to the bottom of this page http://en.wikipedia.org/wiki/The_Renovators
Mark, That site is out of date.
the latest eleiminations have not been updated but I’m sure the budgets etc are correct. They are inline with what others are saying in respect to those we already know. Just need the final two sale prices.
the profit is not based on the cost prices but on the reserve prices that century 21 wont reveal till finale. otherwise shop and 60′s suburban would have been passed in (not sold) at auction. (its jst like the auction on the block) at least according to property observer article from reality ravers link. Correct me if im wrong but i dont think cost prices are the same as reserve prices right?
We don’t know because we have been told. However, the basis of the show, I believe, was profit over budget not reserve price set by Real Estate Agents.
my understanding is that the profit margin will be based on:
what the house sells for less…
the cost of purchase plus budget to renovate it….
ergo, reserve prices would seem irrelevant, as it appears that the houses are being sold, even if it is at a loss….
that is how I understand it anyway …
Thank you Sue. That’s is my understanding as well. Going by what others have said here and on the Discussion page of The Renovators FaceBook page others agree with us.
You never know with Channel 10 as they seem to make up the rules as they go. However I agree with Sue that the reserve price should be (and most likely will be) irrelevant. From the start they have been referring to the ‘profit’ which can only be sales price minus cost (cost = purchase price + what has been spent on the renovation).
Does prize money, services won in challenges get counted in cost price? That makes a big difference to bottom line. Still no sign of terrace and half done sale price.
Nanaliz, I think it does, but some of the calculations done on the FB page don’t include the bits and pieces along the way but do include the pool money won by the fibro cottage. I guess we will know soon enough.
Surely they can’t include the bits and pieces along the way (or the pool which was the biggest prize I think?)- if they do, then I don’t think any of them will make a profit. They all ‘won’ at least $10K (for the bathroom challenge) and some won heaps more. And it would mean that it would be an advantage for teams to NOT win along the way because this ends up being counted against them…Also the shop won mostly working bees- if they count the pool prize for example then they should count the assistance in kind from the working bees.
But I completely agree that this is NOT CLEAR. It really leaves it wide open for Ch 10 to choose whoever they want as the winner, based on some complicated formula that may or may not include cost price, reno budget (and within that, they could claim that so and so came in under budget and therefore made more profit, etc), prizes along the way, etc. I’m going to be majorly p*ssed off if this is the case, but Mark is right, we can only wait and see!
JandB – totally agree about why they shouldn’t include the prizes in their budgets. And pretty sure at times when introducing the challenge or prize, Brendan has said stuff like the prize will add pure profit to their house.
I would have to think that cost of house plus % of budget as worked out- as explained at the start of show (was it 10% ???) would be the only fair way to do the base price, otherwise people are actively disadvantaged by winning prizes/prize money. I seem to recall brendan being quite clear that it was the selling price less the combined price of purchase & %budget that determined the profit…NOTHING else!!!!
I will be shitty if those rules have changed….
who is writing the f’bk page? ie how reliable is the info from there?
Jeez when i said correct me if im wrong i didnt mean for you guys to explode! the comment thread is twice as long since my comment. i was jst a bit confused after watching the block and the way they handled it and the fact that the renovators keep making it up as they go and property observer confused me when it mentioned reserve prices
The judges stated at the beginning and all the way thru the show that Purchase price of the house + Budget (which was 20%) = the new cost price total and anything above that total is deemed the PROFIT. The house with the highest profit made out of all the houses WINS.
I GOT IT!!!!!!!!! FAROUT AUSSIE RENOVATOR I GOT IT AFTER IT WAS ALREADY REPEATED A MILLION TIMES BY THE OTHERS JEEEEEEEEEEEEZ
I don’t think anyone was picking on you Minnie, I think we are all a bit confused. The Facebook discussions are also confusing as some people think the prizes are included, some don’t count the reno cost (just the cost price of the house initially), etc. So, yeah. Sorry if it came across that we were all correcting you, I think we were just discussing it…
JandB u are probably the nicest person on this blog but i wasnt upset at first its jst that aussie renovator took it a step too far and pissed me off
Oh my Goodness what did I do?
aussie renovator read my previous comment (no.42) if u still dont get it then i dont know what else to say
aussie renovator- you did nothing wrong!!!!!!
you merely commented on some points raised on this blog and someone seems to have had a brain explosion and thinks you are directing some sort of negative post at them- judging by the entire post in CAPS LOCK!!!
I have seen many blog reviews on here that have generated waaaaay more comments and opinions on how a show is going or how it works, or some element of the show/blog where no-one gets angry and thinks someone is attacking them….
I am at a loss to understand why Minnie A… is apparently angry ?!?!?!
Just read another article in Property observer and it stated that only one auction had dozens of competitive bids. They don’t know or have decided not to disclose sale prices apart from first 2.
sorry for getting upset i was tired and i didnt know it was in caps lock until i looked up at the end and i couldnt be bothered fixing it. but i still felt it unnecessary how it was repeated a million times and when i said that i already got it it was really unnecessary for aussie renovator to say it again. im not angry and lets jst leave it there PLEASE
no probs Minnie A…. I sometimes have brain explosions myself
JandB please whisper what half done price was? I promise I won’t tell. he he
SPOILER (although surely if you are reading the comments you know that we are discussing the prices of the houses)
Jamison has given the half done house price on this comment thread- http://www.realityravings.com/2011/09/30/the-renovators-good-result-but-the-elimination-challenges-are-unfair/ as $770
k which means a pretty hefty loss
Sorry JandB missed that one, so only terrace to go or did I miss that too.
Some people need to understand the world does not revolve around them and that when people comment here at this topic it could be in reply to anyone not just YOU! Far out, how disgraceful and to constantly use someones user name in the comment over and over is just awful. Back to the topic does anyone at all know how much the Inner City Terrace went for at auction? I would really really love to know and this seems to be the best place on the net for finding stuff about the show out , thanks in advance
I think Ch10 are just trying to confuse us all. Like all of you, I was under the impression throughout the series that the profit margin would come from the price of the house, plus the renovating budget. Whatever was made on top of this would be the profit. This is how the judges have been making it seem as well.
In the article from the Property Observer site posted on Friday, it seems as though they are trying to back peddle from releasing the results of the first 2 auctions (although they can be found quite easily through social media). They too mention that there were reserve prices set, and that these reserve prices, not the cost of the house + reno spend, will determine the winner. By all means, this could just be a ploy to try and confuse us all and create uncertainty to ensure we watch through to the end. I agree with you all, it wouldn’t make sense to throw a reserve price into the mix now, especially as they would have to be lower than the amount spent on buying and renovating the houses for some of the houses to have come out on top. The article can be found here:
http://www.propertyobserver.com.au/auctions/entertainment-the-winner-in-the-renovators-as-some-of-the-six-struggle/2011093051757
I too would LOVE to know the result from the Terrace. The Fibro did well but I wouldn’t say REALLY well, unless that is in comparison to the rest of the poor houses.. meaning that the winner could be the Terrace?! That wouldn’t be a bad result, as it did look to me to be the best finished and styled overall. Luke has been a strong performer throughout and has also appeared well liked and gracious.. considering he is still the key holder, that is.
eliza thats what confused me as well. i guess well jst have to wait for finale to know for sure but it wouldnt make sense to change the rules now. They were expecting 1.1 million for terrace so it may have taken it out well see
SPOILER AGAIN: The terrace price was posted on another thread (again by Jamison- thanks!!) as 925. Now we have the complete set
I’m assuming Luke held onto the Terrace keys as someone here saw him at one of the auctions. Also, there’s a framed photo of his daughter in the walk in robe in the agent’s photos. (I’d noticed that photo before, and it being his daughter was confirmed on last night’s show).
Woohoo! So if that’s the set, and there aren’t any mysterious reserve prices, that would make the Fibro the winner. You’d think it would be simple, but who knows with the way ch10′s been mucking around with this show.
So if it’s based on what they’ve said all along :
3 profit making houses :
Fibro : $68 012 18.28%
Terrace : $25 732 2.86%
Weatherboard : $ 1145 0.2 %
The houses which made losses :
Shop : $13 676 1.92%
60s Suburban : $28 194 3.72 %
Half Done House : $32 084 4.00%
Which would mean the winner walks away with : $94 889 (or if losses are taken into account, $20 935).
thanx for update Fides, and for putting all the houses in 1 post- I was too lazy to go thru them all and correlate the prices etc…
hopefully the losses do not come off the profits, or else it will make the time spent on this project relatively unworthwhile…. I hope Michael still had the keys too
So far I have found out that….
Inner city sold at $925,000 then it made 18.9% percent
The shop originally was $594,730 and sold for $713 676 adding up to about 15% profit
Weatherboard was originally $478,213 and sold for $573 855 adding up to about 16.8% profit
Sixties suburban went for $730,000 that means it made only 13.4%
fibro cottage went for $440,000 that means they made 29% profit
I just don’t know the half done house anyone know?
Hi again, I just realised that Fides gave the answers Thanks
Fibro Win that is awesome……………I hope that Micheal and Jarrad half the money because it has just been them two since week 3
Lily – my figures include the renovation budget so by those calculations, only half the houses made profits. Though maybe in the end, with the poor results, the producers may decide to only take original house purchase price into consideration…
If those are indeed the final sale prices, I feel strangely conflicted and troubled watching this week. All the contestants look so exhausted, especially Nathan who could hardly keep his eyes open last night, and Keenan. Whenever Brendan talks about winner taking profits from all 6 houses, I doubt they ever figured that losses could occur – now when their eyes light up, I feel bad watching. Even if they weren’t in it for the money (like Michael said a few weeks back) and entered more for the professional challenge, the fact that months of hard work and separation from their families results in making a loss would be hard to take.
Oh dear, now I really know why they call it a spoiler!
**************************SPOILER*******DONT READ IF YOU DON’T WANT TO KNOW WHAT ORDER THE HOUSES CAME IN ******************
This is the order they came in: 1stfibro2ndinnercity3rdweatherboard4thshop5thsixtiessuburban6thhalfdone
******************************************
yay, yay, yay- my favourite team won
I hope Michael still had the keys, even though I do like Jarrod too… 
I’m not surprised the half done house did so badly considering the french doors opening from the bathroom. No wonder Peter said he didn’t think anyone would use this room.
Maybe no one is supposed to use the kitchen either as it is very small and those mirrors are just plain bad taste.
BTW Has anyone succeeded in finding the laundry?
Laundry? Perhaps clothes are just for show. Like main bathrooms.
I have a bad feeling it is a European laundry…. in that Tiny kitchen!!
The losses should be tallied into the prize pool as per Fides post.
This is reality TV afterall, not some third-rate Euro economy like Greece where the losses are carried by yer neighbours in three houses down in Germany.
So this means:
- a whopping, well-deserved $20K for the winner (working out at the labor rate equivalent of the prison allowance, just better than the slavery rate of the losing constestants)
- a major ratings and prestige loss for Ten; and,
- lots of nail biting for the 2012 season of MasterChef which gets passed on the ‘brains trust’ at Shine, the mob responsible for this poorly conceived and produced show as well as other televisual abominations like Iron Chef Australia and Dating in the Dark.
I am devastated, I was barracking for the half done house!
Don’t know if I can bear to watch the auctions, especially after Mel’s talking about getting $720 for the weatherboard. How are they going to portray and edit her shock and disappointment when it sells for $575?
And considering she said last night that she’s $2K over, the weatherboard will have to join the other 3 houses which have made losses.
Yes agree I can see now why there was only a bar fridge in the Weatherboards kitchen!
I know for a fact that the inner city terrace sold for more then the price Lily said above!!!
brenda- how do you know, because all the other info from more than 1 source, seems to be pointing towards the inncer city coming 2nd, so what did it sell for- according to your info?
Doubt those figures for the half done house.
I’m almost expecting it wins by the chirpy tweets from peter, no spoilers, and it may mean nothing but he seems very happy – maybe he’s just happy with all the work he’s getting and the fact this torture is over.
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