A Terang property sold for $160,000 above the reserve price when it went under the hammer on Saturday.
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About 60 people turned out to watch the auction with four bidders driving up the price of the three-bedroom town home.
Bidding started at $430,00 and rose in $10,000 lots to $500,000, and then in $5000 lots to $630,000.
The central Terang property, which is on a 1534-square-metre block, is zoned commercial one and has two heritage-listed shops that are need of renovation.
Falk & Co director David Falk said all bidders for the property at 1-7 Thomson Street were local.
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Katrina Lovell
Katrina Lovell is a senior journalist at The Standard who covers council news and human interest stories.
Katrina Lovell is a senior journalist at The Standard who covers council news and human interest stories.
