Hammer falls at mass property auction 

Times might be tough for some in the real estate industry but not for Don Ha who organised an auction for over 100 South Auckland properties in one day.

In last week's Ray White Manukau newspaper, Ha, a real estate entrepreneur, advertised a three-bedroom property as "simply stunning - will be sold".

Despite real estate agents struggling across the country, Ray White kept their word and on Tuesday morning the Papatoetoe home was the first to sell at what was arguably the biggest residential auction New Zealand has ever seen.

"I'm trying to hype people up. If you're happy you pay more, if you're sad you pay nothing," says Ha.

And to make people happy, he added balloons, hired in a few models and ordered some slick audio-visual sales patter.

"I'm the sort of person that doesn't follow rules and things can be done, can be achieved. And if I think it can be achieved I give it a shot," says Ha.

With that attitude, he has made a $60 million fortune, according to the Rich List.

And his auctioneers on Tuesday were happy to bolster that further.

The day's very first lot sold, under the hammer.

"Sold and congratulations at 442-thousand dollars," says the auctioneer.

Not all the South Auckland properties in the auction were selling so easily. But with them ranging from $200,000 for a Mangere renovator's dream all the way to $2 million for a luxury house, it's hardly surprising it's caught people's attention.

And they know it's a buyers market, one man at the auction saying prices are probably a bit high at the moment.

The early signs were that around half the offers were good.

"We've got probably 25% under the hammer, so far, similar number prior. So those numbers are encouraging," says Casey Smith, Ray White chief executive.

That left Don Ha to figure out his commission.

It's believed eight of the properties sold under hammer, with 15 more under negotiation.