The stunning Randwick property sold for a whopping $13.56m.

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A “breathtaking” Randwick home has sold for a whopping $13.56m.

The Saturday morning auction at 1 Dick St attracted five registered bidders, all of them actively bidding, as well as a crowd of around 100 onlookers.

The agent and auctioneer would not reveal the reserve price but it is understood that the property could have sold circa $1.5m over the owners hopes, selling for the second highest price in Randwick.

The buyers guide was set at $11.2m during the campaign.

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Jake Moore Cooley Auctions brought down the gavel on the Randwick home. Picture: Darren Leigh Roberts

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Lead agent Nicholas Wise from Sotheby’s International Realty said the competitive bidding pushed the price well above all expectations.

“It surprised us, but its such a unique house on great land size.” he said.

The vendors were selling to downsize and had owned the property for around 10 years.

“It has charm and character, it’s a very rare home to find,” Mr Wise added.

Cooley auctioneer Jake Moore said it was one of the most impressive houses he had seen.

“I get to see some pretty nice houses in my time, but this was one of the top 10 best houses,” he said.

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Mr Moore said the pictures don’t do the home justice.

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Interested buyers were all families from surrounding eastern suburbs, mainly from Bellevue Hills, Paddington and Woollahra.

Mr Moore said there was “nothing to hesitate about,” with heated bidding opening at $10.5m.

“The owners set a realistic reserve, it was called on the market so (buyers) they had to bid to buy it,” he said.

Bids were between $100,000-$200,000 increments until the $12.2m mark, the bidding continued with $50,000 intervals.

“Going into it knowing what a nice house it was, it had great competition and sold for a great price and that’s what a beautiful house like that deserves.”

The pool at the Randwick home.

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The outdoor sitting area.

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Originally built in circa 1896, the home has been delicately upgraded for contemporary living.

Set on a 992 sqm parcel with manicured gardens, alfresco style terrace, a swimming pool and an eastern terrace with ocean views.

Only 300m from Fred Hollows Reserve, a short walk to Frenchmans Rd, Clovelly Rd and Coogee Beach.

Randwick’s median house price according to PropTrack data is currently $3.5m.