Sydney auctions: More than $2.1 million raised for various charities

More than $2.1 million has been raised for different causes after the proceeds of two auctions on Saturday were entirely bequeathed to charities.

A three-bedroom house at 14 Cosimo Place, Ryde has raised a whopping $1,688,000 for three charities.

Two dozen parties registered to bid on the 664-square-metre block with an opening offer of $1.55 million starting the auction.

SOLD - $1,688,000

14 Cosimo Place, Ryde NSW 2112

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Six parties threw their hats in the ring, raising the price beyond the reserve of $1.35 million.

The property sold to a young Chatswood family who are planning to renovate the property or rebuild.

The funds will be split between The Heart Foundation, Youth Off The Streets and St Vincent de Paul.

McGrath Ryde selling agent Michael Dowling said: “For that amount of money to be split between three charities … it’s just so good. I can’t wipe the smile off my face.”

SOLD - $510,000

4/2B Tusculum Street, Potts Point NSW 2011

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Meanwhile, in Potts Point, an unrenovated one-bedroom apartment at 4/2B Tusculum Street has raised $510,000 for an animal charity.

Six parties, including first-home buyers, investors and a self-managed super-funded retiree, registered to bid on the 38-square-metre property.

The auction opened at $380,000, rising in varying increments.

A first-home buyer, who was renting in the area, walked away with the keys. The reserve was $460,000.

Laing+Simmons selling agent Nuri Shik said: “It’s a strong result. Confidence is coming back.”

The property last traded for $265,000 in 2004, records show.

In Melbourne, another property sold at auction for $695,000, with the proceeds – less GST – to be donated to the My Room Children’s Cancer Charity.