Sydney auctions: Original Maroubra home goes $1.21m over reserve after unbelievable bidding war

Incredible scenes after 26 Kyogle St, Maroubra sold for $1.210 million over reserve. Picture: NCA NewsWire / Dylan Coker

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SYDNEY’S property market has reached a new level of craziness on Saturday after a Maroubra home in need of a facelift sold for an eye-watering $1.210 million over reserve.

The remarkable $3.760 million sale price followed an epic bidding war between several developers who wanted to transform the original Kyogle St property into a modern duplex.

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The developers were just some of the 50 buyers who turned up on the day to register including 60 Minutes television presenter Tom…