Search

Ray Martin cashes in after selling luxury Sydney home

Ray Martin has made a whopping $7.1 million after selling the family home he has owned on Sydney's north shore for thirty-five years. The veteran journalist sold the five-bedroom, three-bathroom mansion in the suburb of Waverton for a reported $8 million, after Martin and his wife Dianne bought the luxurious 1930s-era house in 1990 for $900,000. The beautiful home, known as Finisterre, sold for between $8 million and $8.5 million after being listed on January 1st, according to reports from <a href="https://www.realestate.com.au/news/ray-martins-8m-home-sale-bonanza/" target="_blank" rel="nofollow noreferrer noopener">The Daily Telegraph</a>. Located just 5km from the Sydney CBD, the gorgeous two-storey home features classic period stylings and luxurious interiors. The stunning home boasts impressive features such as grand scale living areas, a beautiful patio for entertaining and a glass-framed mosaic-tiled pool, while a chef's kitchen features the latest appliances and a breakfast island. Other highlights include a 'formal' living room, a separate family room, a home office and an open-plan dining area that opens out to the backyard and patio. The upper level offers a large open terrace which features views of Sydney Harbour and the city skyline. Other luxury features on the estate also include a wine cellar, a second-floor study and landscaped gardens. Image credits: SBS / McGrath Real Estate

Money & Banking

Does ‘made with love’ sell? Research reveals who values handmade products the most

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/tuba-degirmenci-2291455">Tuba Degirmenci</a>, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>; <a href="https://theconversation.com/profiles/frank-mathmann-703900">Frank Mathmann</a>, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>, and <a href="https://theconversation.com/profiles/gary-mortimer-1322">Gary Mortimer</a>, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a> We’ve all seen the marketing message “handmade with love”. It’s designed to tug at our heartstrings, suggesting extra care and affection went into crafting a product. As Valentine’s Day approaches, many businesses will ramp up such messaging in their advertising. Handmade gifts are often cast as more thoughtful, special options than their mass-produced, machine-made alternatives. But does “love” actually sell? Our new <a href="https://onlinelibrary.wiley.com/doi/10.1002/cb.2455">research</a>, published in the Journal of Consumer Behaviour, reveals not everyone feels the same way about these labels. Why do some people feel handmade products are made with love, while others don’t really care? We found it’s all about how they approach purchase decisions. <h2>A deeper, human connection</h2> Why do businesses market products as handmade? Previous research has shown handmade labels can lead to higher positive emotions. This tendency is known as the “<a href="https://journals.sagepub.com/doi/abs/10.1509/jm.14.0018">handmade effect</a>”. In a world of seemingly perfect and polished products, <a href="https://www.emerald.com/insight/content/doi/10.1108/09590551211267593/full/html">research</a> shows consumers increasingly prefer human (as opposed to machine) interactions, including in their shopping experiences. It’s also been shown that giving handmade gifts can <a href="https://link.springer.com/article/10.1007/s11002-024-09722-w">promote social relationships</a>. We often associated handmade products with smaller “cottage” retailers. But many major global retailers – including <a href="https://www.amazon.com/b?ie=UTF8&node=120955898011">Amazon</a> and <a href="https://www.ikea.com/au/en/new/handcrafted-textiles-for-a-better-future-pub6fc26570/">IKEA</a> – have strategically introduced handmade products, aiming to connect on a deeper emotional level with their consumers. Our research found not all consumers respond in the same way to these marketing messages. <figure><iframe src="https://www.youtube.com/embed/kYn-xUjv_qs?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption>IKEA has previously run a dedicated handmade marketing campaign.</figcaption></figure> <h2>Who cares about love?</h2> Across two studies, we found that the response to marketing products as “handmade” depends on a consumer’s locomotion orientation – put simply, how they approach decisions and other actions. <a href="https://www.sciencedirect.com/science/article/abs/pii/S0022435917300155">Low-locomotion individuals</a> take things more slowly. They take their time and can thoroughly consider their purchase decisions. Think of them as the “mindful”. In contrast, high-locomotion individuals are “doers”. They like to get things done quickly without getting stuck in the details. They are the “grab-and-go” shopper. When the way they perform an action – such as making a purchase – matches their fast-paced mindset, something remarkable happens: they experience what’s called “<a href="https://myscp.onlinelibrary.wiley.com/doi/full/10.1002/jcpy.1317">regulatory fit</a>”. This fit boosts their emotions and engagement. <h2>Our first study</h2> In our first study, participants imagined buying a gift for a loved one. They were split into three groups and presented with a photo of the same mug. One group was informed that the mug was “handmade”, one group informed it was “machine-made”, and the last group was not offered any “production cue”. We also asked and measured how much “love” they felt the mug contained – and how much they would pay for it. The handmade mug evoked more love and led to a higher willingness to pay – but only for those with a “low-locomotion” orientation. High-locomotion individuals didn’t react in the same way. For these “doers”, the backstory of how the mug had been made wasn’t as important as just getting a product they needed. For the “doers”, the benefits of marketing the mug as handmade actually backfired. They felt more love for the mug if it had no label at all. <h2>Our second study</h2> By communicating with consumers on social media, marketers can trigger a mindset called “regulatory locomotion mode”. Put simply, this is the mode where we take action and make progress toward goals. Marketers can do this by using <a href="https://psycnet.apa.org/doiLanding?doi=10.1037%2F0022-3514.79.5.793">locomotion-activating</a> words such as “move” and “go” to encourage active decision-making. To borrow one famous example from Nike: “<a href="https://psycnet.apa.org/doiLanding?doi=10.1037%2F0022-3514.79.5.793">Just Do It</a>”. Our second study examined the marketer-generated content of over 9,000 Facebook posts from the verified <a href="https://www.facebook.com/Etsy">Etsy</a> Facebook page. We analysed how locomotion-activating words in social media posts for handmade products influence consumer engagement. In other words, we wanted to understand how these words affected social media engagement with the potential consumers reading them, particularly in terms of social media shares. We found the higher an individual’s locomotion orientation was, the fewer social media “shares” for handmade products occurred. <h2>So, does handmade really matter?</h2> As we get closer to Valentine’s Day, understanding these differences can help retailers tailor their marketing strategies. For “mindful” customers, retailers should highlight the story of the craftsmanship, care, and love behind a handmade product for Valentine’s Day. Use emotional language such as “made with love”. But be aware this mightn’t work on everyone. For a customer base of “doers”, keep it simple, leaving out unnecessary details about production methods. There are a range of <a href="https://marketingplatform.google.com/about/">website analytical tools</a> that can help retailers identify how their customers approach their purchase decision-making. Do they browse quickly, hopping from one product to the next, opting for “<a href="https://www.business.com/articles/one-click-purchasing-how-click-to-buy-is-revolutionizing-ecommerce/">one-click</a>” purchasing? Or do they take their time, browsing slowly and considering their product selection? Personalised marketing messages can then be crafted to emphasise the aspects – love or efficiency – that matter most to each group. The key lies in knowing who you’re speaking to.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/247351/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/tuba-degirmenci-2291455">Tuba Degirmenci</a>, PhD Candidate School of Advertising, Marketing and Public Relations, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>; <a href="https://theconversation.com/profiles/frank-mathmann-703900">Frank Mathmann</a>, Lecturer (Assistant Professor), <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>, and <a href="https://theconversation.com/profiles/gary-mortimer-1322">Gary Mortimer</a>, Professor of Marketing and Consumer Behaviour, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/does-made-with-love-sell-research-reveals-who-values-handmade-products-the-most-247351">original article</a>. </div>

Money & Banking

Olivia Newton-John's iconic leather jacket sells for astonishing price

Olivia Newton-John's iconic leather jacket that she wore in the classic 1978 musical Grease has sold at auction for almost a million dollars. The biker jacket was sold to a private buyer in Los Angeles for an astonishing USD $476,250 (AU $749,645.84). It had been expected to sell for around $US80,000 — $100,000 ($125,924 —$157,405). It was just one of the many collectors items once owned by the late actress that was sold in the auction Property From the Estate of Olivia Newton-John. Other items up for grabs included her 2002 ARIA Hall of Fame Award, which sold for AU $20,000, her 2014 passport, her turquoise baby grand piano, and a copy of a handwritten speech she once gave. A portion of the proceeds will go to The Olivia Newton-John Foundation Fund — a fund dedicated to researching plant medicine and cancer. The actress originally sold the jacket for a whopping AU $587,000 in 2019 through an auction house, and the buyer shocked her by returning it. The leather jacket remained in her possession until her death in August 2022, after a brave decades-long battle with breast cancer. Image: CPC/THA/ Shutterstock Editorial

Money & Banking

Donald Bradman's baggy green sells for eye-watering price

Sir Donald Bradman's baggy green that he wore in his final Australian Test series has fetched nearly half a million at auction. The cap was worn by Bradman during the 1947-48 series, when the Indian team played on Australia soil for the first time in history. The baggy green fetched a whopping $390,000, with the final price totalling $479,700 including auction costs. It attracted significant interest from potential buyers from both Australia and overseas, with the winning buyer coming out on top after a 10 minute flurry at Bonhams Auction House in Sydney on Tuesday evening. The auction house described the cap as "sun faded and worn", with "some insect damage" and "some loss to edge of peak". The cap was also advertised as “the only known Baggy Green” to have been worn by Bradman during the series, where he cored 715 runs in six innings at an average of 178.75, with three centuries and a double-hundred. Bradman had gifted it to India's team manager at the time, who then gave it to the team's wicket keeper. While it is currently not known who placed the winning bid, the cap itself has particular significance to Indian fans, as the series took place just months after the country gained independence. For Aussie fans, the cap was worn during Bradman's final game on Australian soil, with the cricket legend embarking on a farewell tour of England afterwards. This is not the first cap of Bradman's to go under the hammer, with the cap he wore during his 1928 Test debut fetching over $450,000 plus fees in 2020. The late Shane Warne's baggy green currently holds the record for sale at auction, after selling for $1m when auctioned off in 2020. Image: Design Pics Inc/ Shutterstock Editorial

Money & Banking

Tourism hotspot in Italy attracts attention for selling strange souvenir

Italy’s picturesque region of Lake Como has started selling a unique souvenir, making many people raise their eyebrows. The north Italian tourist hotspot has long been known for being the backdrop of many Hollywood films, while also hosting countless celebrity weddings, with many famous faces owning houses in the region. For those travelling to the stunning Lake Como and wanting to purchase a souvenir to remind them of their travels, you can now forgo the classic keyring or magnet for a more unique souvenir item. Communications company ItalyComunica says it has bottled the very air of Italy’s picturesque Lake Como and is selling these cans for €9.90 ($16 AUD) apiece. Each can is said to contain 400 millilitres of “100% authentic air” collected from Lake Como, with the website stating buyers can “Open it whenever you need a moment of escape, tranquillity, or simply beauty.” In an attempt to capitalise on the ever-growing visitor numbers, marketing specialist Davide Abagnale originally created the e-commerce site to sell dedicated Lake Como posters, before delving into the world of the unique souvenirs. His latest initiative of selling canned air aims to “create a souvenir that could be easily transported in a suitcase for tourists” and “something original, fun and even provocative.” Abagnale told <a href="https://edition.cnn.com/2024/11/04/travel/lake-como-air-cans-on-sale-intl-scli/index.html">CNN</a>, “It’s not a product, it’s a tangible memory that you carry in your heart,” adding that once tourists are home and have opened the can, they can repurpose it as a souvenir pen holder or plant holder. Not everyone was first onboard with the idea, as Como mayor Alessandro Rapinese said it wouldn’t be his first idea for tourists, and would prefer they take home other souvenirs, like the silk scarves the area is known for. “It’s a novel idea, but not for everyone,” he told CNN. “But as mayor of one of Italy’s most beautiful cities, if someone wants to take some of their air home, that’s fine as long as they also take beautiful memories of this area.” Image credits: ItalyComunica/CNN/Shutterstock

International Travel

Qantas faces the music for selling seats on cancelled flights

Qantas has been fined a whopping $120 million for purposefully misleading customers on flight bookings for several years. After being sued by the Australian Competition and Consumer Commission (ACCC) over dishonest conduct relating to the sale of tickets on cancelled flights, the airline admitted they were deceiving travellers by continuing to sell tickets on flights that had already been cancelled. On Tuesday, Justice Helen Rofe formally ordered Qantas to pay a $100 million fine for their conduct, and another $20 million to travellers who were affected. Qantas agreed to pay $225 to affected customers on domestic flights and $450 on international flights. "This is a substantial penalty, which sets a strong signal to all businesses, big or small, that they will face serious consequences if they mislead their customers," ACCC chair Gina Cass-Gottlieb said in a statement following the court orders. Earlier this year, Cass-Gottlieb described Qantas’ conduct as “egregious and unacceptable”, after data showed that between May 2021 and August 2023, the airline sold tickets on cancelled flights to more than 86,000 customers. In addition to cancelling the flights, the airline also failed to inform travellers that their flights were no longer going ahead as scheduled. ACCC barrister Christopher Caleo claimed that some senior airline managers knew about different aspects of the issue, including the fact that cancelled flights were not removed from booking pages or that customers could still book those flights, but no single manager was aware of the severity of the issue. "Qantas was aware of deficiencies in their systems," Caleo said. "Despite their awareness, it persisted over an extended period of time and affected a large number of consumers." Caleo added that the sizable fine presented to Qantas was required in order to deter them from any further devious conduct. "A penalty must send a signal to other companies in Australia, particularly to other large companies, that contraventions of Australian consumer law will not be tolerated," he said. "It must sting and must not be an acceptable cost for Qantas for failing to have systems in place." Qantas said it has made changes to its systems and agreed to notify customers of cancelled flights no longer than 48 hours from cancelling a flight and stop selling tickets for those journeys within 24 hours, with these changes also taking effect with subsidiary Jetstar. "The fact that Qantas made these changes makes it clear that Qantas wants to avoid the matter from occurring again," barrister Ruth Higgins said. Image credits: Shutterstock

Travel Trouble

Aussie family's refusal to sell family home could land them a $60m fortune

An Aussie family that repeatedly said no to selling their much-loved family home to developers could land them a $60million in Australia's booming property market, but the defiant family refuses to sell. A year ago, the Zammit family from Quakers Hill in Sydney's north west caught worldwide attention when they refused to sell their 20,000 sqm parcel of land to developers who had purchased all the other land around them. The family received offers of up to $50m to sell their home to complete the new development named The Ponds, but they refused to sell. That didn't deter developers who are still offering the owners a massive amount of cash to sell their homes, with offers reportedly around $60m now, meaning the family have earned another $10m or 20 per cent over the past year. According to PropTrack home prices in Quakers Hill have risen by 8.5 per cent over the past 12 months, meaning that the Zammits would have earned at least another $4.25 million. The median price of a home in Quakers hill is now at $1.172m, around a decade ago it was $700,000. Last year, one of the property owners, Diane Zammit, 50, told news.com.au that the neighbourhood used to be “farmland dotted with little red brick homes and cottages." “Every home was unique and there was so much space – but not any more. It’s just not the same,” she said. It is estimated that 50 houses could fit on the block of land if they chose to sell, but some of their neighbours reportedly don't want them to, as they like living in a cul-de-sac. Ray White Quakers Hill agent Taylor Bredin previously praised the family for staying put. “The fact that most people sold out years and years ago, these guys have held on. All credit to them," he told 7News. “Depending on how far you push the development plan, you’d be able to push anywhere from 40 to 50 properties on something like this, and when subdivided, a 300 square metre block would get a million dollars.” Images: Channel 7

Money & Banking

Is it worth selling my house if I’m going into aged care?

<div class="theconversation-article-body"><a href="https://theconversation.com/profiles/colin-zhang-1234147">Colin Zhang</a>, <a href="https://theconversation.com/institutions/macquarie-university-1174">Macquarie University</a> For senior Australians who cannot live independently at home, residential aged care can provide accommodation, personal care and general health care. People usually think this is expensive. And many assume they need to sell their home to pay for a lump-sum deposit. But that’s not necessarily the case. Here’s what you need to consider. <h2>You may get some financial support</h2> Fees for residential aged care are complex and can be confusing. Some are for your daily care, some are means-tested, some are for your accommodation and some pay for extras, such as cable TV. But it’s easier to think of these fees as falling into two categories: <ul> <li> an “entry deposit”, which is usually more than <a href="https://www.health.gov.au/sites/default/files/documents/2020/06/eighth-report-on-the-funding-and-financing-of-the-aged-care-industry-july-2020-eighth-report-on-the-funding-and-financing-of-the-aged-care-industry-may-2020.pdf">$A300,000</a>, and is refunded when you leave aged care </li> <li> daily “<a href="https://www.myagedcare.gov.au/aged-care-home-costs-and-fees">ongoing fees</a>”, which are $52.71-$300 a day, or more. These cover the basic daily fee, which everyone pays, and the means-tested care fee. </li> </ul> To find out how much government support you’ll receive for both these categories, you will have a “<a href="https://www.myagedcare.gov.au/income-and-means-assessments/#aged-care-home">means test</a>” to assess your income and assets. This means test is similar (but different) to the means test for the aged pension. Generally speaking, the lower your aged-care means test amount, the more government support you’ll receive for aged care. With full support, you don’t need to pay an “entry deposit”. But you still need to pay the basic daily fee (currently, <a href="https://www.myagedcare.gov.au/aged-care-home-costs-and-fees">$52.71</a> a day), equivalent to 85% of your aged pension. If you get partial support, you pay less for your “entry deposit” and ongoing fees. <h2>You don’t need a lump sum</h2> You don’t have to pay for your “entry deposit” as a lump sum. You can choose to pay a rental-style daily cost instead. This is calculated as follows: you multiply the amount of the required “entry deposit” by the maximum permissible interest rate. This rate is set by government and is currently at <a href="https://www.health.gov.au/sites/default/files/documents/2021/03/schedule-of-fees-and-charges-for-residential-and-home-care-schedule-from-20-march-2021_0.pdf">4.01%</a> per year for new residents. Then you divide that sum by 365 to give a daily rate. This option is like borrowing money to pay for your “entry deposit” via an interest-only loan. You can also pay for your “entry deposit” with a combination of a lump sum and a daily rental cost. As it’s not compulsory to pay a lump sum for your “entry deposit”, you have different options for dealing with your family home. <h2>Option 1: keep your house and rent it out</h2> This allows you to use the rental-style daily cost to finance your “entry deposit”. Pros <ul> <li> you could have more income from rent. This can help pay for the rental-style daily cost and “ongoing fees” of aged care </li> <li> you might have a special sentimental attachment to your family house. So keeping it might be a less confronting option </li> <li> keeping an expensive family house will not heavily impact your residential aged care cost. That’s because any value of your family house above <a href="https://www.health.gov.au/sites/default/files/documents/2021/03/schedule-of-fees-and-charges-for-residential-and-home-care-schedule-from-20-march-2021_0.pdf">$173,075.20</a> will be excluded from your <a href="https://www.servicesaustralia.gov.au/organisations/health-professionals/services/aged-care-entry-requirements-providers/residential-care/residential-aged-care-means-assessment">means test</a> </li> <li> you can still access the capital gains of your house, as house prices rise. </li> </ul> Cons <ul> <li> your rental income needs to be included in the means test for your aged pension. So you might get less aged pension </li> <li> you might need to pay income tax on the rental income </li> <li> compared to the lump sum payment, choosing the rental-style daily cost means you will end up <a href="https://www.smh.com.au/money/super-and-retirement/seek-help-when-weighing-up-how-to-pay-for-your-aged-care-20191202-p53g16.html">paying more</a> </li> <li> you are subject to a changing rental market. </li> </ul> <h2>Option 2: keep your house and rent it out, with a twist</h2> If you have some savings, you can use a combination of a lump sum and daily rental cost to pay for your “entry deposit”. Pros <ul> <li> like option 1, you can keep your house and have a steady income </li> <li> the amount of lump sum deposit will not be counted as an asset in the pension means test. </li> </ul> Cons <ul> <li> like option 1, you could have less pension income, higher age-care costs and need to pay more income tax </li> <li> you have less liquid assets (assets you could quickly sell or access), which could be handy in an emergency. </li> </ul> <h2>Option 3: sell your house</h2> If you sell your house, you can use all or part of the proceeds to pay for your “entry deposit”. Pros <ul> <li> if you have any money left over after selling your house and paying for your “entry deposit”, you can invest the rest </li> <li> as your “entry deposit” is exempt from your aged pension means test, it means more pension income. </li> </ul> Cons <ul> <li>if you have money left over after selling your house, this will be included in the aged-care means test. So you can end up with less financial support for aged care.</li> </ul> <h2>In a nutshell</h2> Keeping your house and renting it out (option 1 or 2) can give you a better income stream, which you can use to cover other living costs. And if you’re not concerned about having access to liquid assets in an emergency, option 2 can be better for you than option 1. But selling your house (option 3) avoids you being exposed to a changing rental market, particularly if the economy is going into recession. It also gives you more capital, and you don’t need to pay a rental-style daily cost. <hr /> This article is general in nature, and should not be considered financial advice. For advice tailored to your individual situation and your personal finances, please see a qualified financial planner. Correction: this article previously stated the amount of lump sum deposit will not be counted as an asset in the aged-care means test, as a pro of option 2. In fact, the amount of lump sum deposit will not be counted as an asset in the pension means test.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/161674/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/colin-zhang-1234147">Colin Zhang</a>, Lecturer, Department of Actuarial Studies and Business Analytics, <a href="https://theconversation.com/institutions/macquarie-university-1174">Macquarie University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/is-it-worth-selling-my-house-if-im-going-into-aged-care-161674">original article</a>. </div>

Retirement Income

Jamie Oliver sells vintage Fiat with unique plate number

Jamie Oliver is putting up his 1955 Fiat 1100 pick-up for auction on Saturday September 28. The celebrity chef, who is an avid car enthusiast, has owned the vehicle since 2012, and it is still in its original and unrestored condition, with just 43,000 km on the clock. The ute was imported from Italy in 1973, and the celebrity chef is the third UK owner of the vintage vehicle. Not only does the ute still have its original steel wheels - with yellow highlights - it has a unique plate number that spells out '677 Yum'. The rear of the car has been embellished by the celebrity chef, with a sticker of a white hearts and the initials J.O which stands for both his name and his wife Juliette, known as Jools. The Fiat 1100 is painted green and has brown vinyl seats, with the spare wheel stowed behind them. It has a four-speed manual gearbox that connects the four-cylinder petrol engine to a live axle rear-end. Classic Car Auctions, the auctioneers selling the car, has assessed the vehicles condition and given it an overall grade of 80 out of 135, meaning that the car is still in 'good condition'. The ute is expected to sell for between £6000 and £8000 ($AU11,700 to $AU15,600). Images: Classic Car Auctions

Money & Banking

Doting dad sells everything he owns to develop cure for son's "incurable" condition

A dedicated father has drained his life savings to help find a cure for his son's "incurable" disorder. Terry Pirovolakis, a 44-year-old IT director, was hellbent on finding a cure for his six-year-old son Michael after he was diagnosed with Spastic paraplegia 50 (SPG50): a degenerative neurological condition that affects less than 100 people worldwide. SPG50 affects children's development, leading to cognitive impairment, muscle weakness, and paralysis over the course several years, often ending in death usually before a patient reaches the age of 30. "They said he'd never walk or talk, and would need support for the rest of his life," he recalled of the 2018 diagnosis. "They told us to just go home and love him - and said he would be paralysed from the waist down by age 10, and quadriplegic by age 20," he continued. Determined to save his son, Terry drained his life savings to start researching potential cures rooted in gene therapy, after reading countless journals on the subject and meeting with experts around the world. Terry said, "We then liquidated our life savings, refinanced our home and paid a team at the University of Texas Southwestern Medical Center to create a proof of concept to start Michael's gene therapy." The father soon signed a contract to start a gene therapy program, consisting of injecting cerebral spinal fluid into the patient's back, and after years of lab work, the treatment started to take, and on December 30th 2021, the government <a id="mol-70453400-6948-11ef-9b54-1d20db350cbd" href="https://www.dailymail.co.uk/news/canada/index.html" target="_self"></a>moved it forward. "On March 24, 2022, my son was the first person to ever get treated with gene therapy at SickKids in Toronto," Pirovolakis, a father of three, told Fox News in detailing his medical odyssey. Michael was the first to receive his father's one-time treatment, after Pirovolakis quit his job and started a nonprofit in California to devote himself to the cause. The company, named Elpida Therapeutics, after the Greek word for 'hope', now has five employees and 20 consultants, with Michael now on the mend. Since being treated, the youngster's condition seems to have stabilised, and he is now able to use a device to communicate with his family and caregivers. Another three children who were able to receive the remaining doses from Pirovolakis' first batch, as the drug still costs about $1million to make for each child, are also seeing positive results. "When I heard that no one was going to do anything about it, I had to - I couldn't let them die," Pirovolakis said. "We decided that we had to help other kids." Despite it being approved, big pharmaceutical companies have been slow to manufacture the drug, with several firms rejecting the prospect when proposed, Pirovolakis said "No investor is going to give you money to treat a disease that is not going to make money," he said. "That's the dilemma we're in." Pirovolakis said that when his son was diagnosed, he was told the boy would be paralysed from the waist down by the age of ten and quadriplegic by the age of 20, forcing the father to do everything he can. "We were told he would never speak or walk, and that he will have severe developmental delays. I just couldn't accept that fate for my child," he said. "The technology to cure our children is already here. I hope that someone with immense wealth - and more importantly, the vision and influence - will step in." Image credits: Facebook

Money & Banking

Travel agent arrested after allegedly selling fraudulent bookings

A Sydney travel agent accused of taking the money of dozens of customers has been arrested by police. Footage obtained by A Current Affair showed the moment police finally caught Zahra Rachid, who is accused of ripping of customers and leaving them hundreds of thousands of dollars out of pocket. Officers in Sydney's south established Strike Force Bail to investigate reports of a travel agent that had allegedly failed to honour customer bookings. Rachid, who ran Travel World Sydney, allegedly cancelled bookings made by customers without their knowledge, and did not issue any refunds, pocketing the money for herself. NSW Fair Trading received complaints about Travel World Sydney totalling more than $230,000. Nicole Vris, claims she used Rachid as a travel agent to book a trip to Greece for herself and 34 family members. She thought that her dream family holiday was booked, but when she checked her flights with the airline, they had no record of her booking. "It's very hard to round everyone up to go on a holiday at the same time, it's so hard," Vris told A Current Affair. "Zahra has ruined that dream for many people." Her family has allegedly been left about $160,000 out of pocket. She has since paid for new flights to Greece, going with only a handful of family members who are able to afford to pay for the trip twice. "Your face value matters in life ... and she's definitely lost that," Vris said. "This was going to happen and she needs to be held accountable for her actions." Rachid is facing 16 fraud charges and is due in court in July. "I think everybody having their funds returned to them would be great and I think by Zahra being put away it might just shake her foundations a little bit," Vris said. Images: A Current Affair

Legal

Yoko Ono selling John Lennon's New York home for first time in 50 years

For the first time in 50 years, the house where John Lennon and Yoko Ono lived in New York City has hit the market. The brick, bluestone and terra cotta structure at 496 Broome St. was the first home the pair bought together in New York City before they moved to the Upper West Side of Manhattan. Yoko Ono has held onto the property since she first bought it with the late Beatles member, and has now listed it with her son with JLL Real Estate, for an asking price of $US5.5 million ($8.23m AUD). “The building on Broome St. was sort of like a base for their artistic ventures,” Philip Norman, author of “John Lennon: The Life,” told the <a href="https://nypost.com/2024/05/21/real-estate/yoko-ono-lists-former-nyc-home-for-5-5m/" target="_blank" rel="noopener">New York Post</a>. “Bank Street was their salon, where people could just walk in.” First built in 1885, the two-storey building has an open-plan format, with a gallery-like ground floor space with 14.4-foot-high ceilings, an open kitchen and a lofted bedroom. On the second floor, there’s a live-work space and a recording studio. “496 Broome St. is both a unique piece of New York history and popular culture and a prime investment opportunity for the right buyer,” said Paul Smadbeck, who holds the listing. “Versatile zoning and its location in one of the city’s most desirable and trendsetting neighbourhoods offers an exciting opportunity to create a one-of-a-kind property.” Image credits: Mediapunch / JLL Real Estate

Real Estate

Adorable Collie sells for world record-breaking price

A border collie has been sold for a world record-breaking amount at the Ray White Rockhampton Working Dog Sale and Trial. Helen and James Parker paid $40,000 for Liz, a border collie who they describe as the "whole package". The couple, who run a wagyu cattle farm in Monto, Queensland are keen to welcome the pup who will help them muster cattle as part of the day-to-day running of the farm. "We leave in the morning early, they might do three to four hours mustering in the morning, then we get the cattle to the yard and then in the afternoon we'll walk them away," Helen said. "Our mustering round's about a week, so all day for a week, so some big days and it's hot up here in summer so they need to be able to travel and follow us on a horse and big days in hot conditions so we can't do the job without them." Liz, who was raised by Joe Leven, is the second dog the couple have purchased from Joe, and they say the price was worth it. "We weren't planning on breaking records but we're happy to have her," Helen told 2GB's Ben Fordham. "She's the whole package, she's got breeding behind her, she has all herding ability, natural instinct. I just think she's a great asset to our team." Although Liz is an unusual name for a cattle dog, it is actually a tribute to the late Queen Elizabeth. "Joe named them and there's a bit of a story behind how Liz got her name. She was born the year that Queen Elizabeth passed away, so she's really upheld her name, she's the queen," Helen explained. The Rockhampton Working Dog trial and Sale was a success for Joe and Cabra Glebe Working Dogs, who managed to sell another dog, Jenny for $38,000. Image: Ray White Working dog sale Facebook

Family & Pets

Best-selling author diagnosed with "aggressive" brain cancer

Best-selling author Sophie Kinsella has shared that she has been fighting "aggressive" brain cancer since the end of 2022. The British writer took to Instagram to reveal she was diagnosed with glioblastoma 18 months ago, and shared why she chose to keep the devatstsing news out of the spotlight. The 54-year-old said she wanted to "make sure my children were able to hear and process the news in privacy and adapt to our new normal" before going public with her diagnosis. "I have been under the care of the excellent team at University College Hospital in London and have had successful surgery and subsequent radiotherapy and chemotherapy, which is still ongoing," she told her followers on Instagram. "At the moment all is stable and I am feeling generally very well, though I get very tired and my memory is even worse than it was before!" Kinsella said she is "so grateful to my family and close friends who have been an incredible support to me, and to the wonderful doctors and nurses who have treated me." She also thanked her readers for their "constant support", adding how the reception of her latest novel The Burnout, released in October 2023, "really buoyed me up during a difficult time." She ended her statement by saying, "To everyone who is suffering from cancer in any form I send love and best wishes, as well as to those who support them." "It can feel very lonely and scary to have a tough diagnosis, and the support and care of those around you means more than words can say." Image credits: Getty Images

Caring

Why a one-cent stamp is set to sell for millions

An extremely rare stamp that was once bought for a measly one cent is set to sell for millions of dollars, breaking records at a US auction house. While to the untrained eye, the blue stamp seems like any old stamp, the 1868 one-cent Z-grill is actually the rarest stamp in America due to its unique history and rarity. On June 14th, the one-cent Z-grill will be put up for sale by Robert A. Siegel Auction Galleries, marking the first time the rare stamp has been on auction since 1998. Experts from the New York auction house say it could fetch $6 million to $7.5 million (AUD), which would make it the single most expensive US stamp ever sold. The reason for the extraordinary price comes down to the fact that out of the two known Z-grill stamp copies, the one up for auction is the only copy available for private purchase by collectors, while other historic copy is held at the New York Public Library. The Z-grill is unique due to its signature embossed paper, which was introduced to the US postal service after the Civil War to prevent stamps from being reused. Since 2005, the coveted stamp has belonged to billionaire investor and “bond king” Bill Gross. “It’s considered the trophy of collecting United States stamps,” said Charles Shreve, who has managed and built Gross’ extensive stamp collection for years and serves as director of international auctions at Robert A. Siegel Auction Galleries. “There’s only one. If you want to brag, that’s the stamp.” Mr Gross' entire collection is estimated to be worth $22.6 million to $30 million AUD. The top 100 stamps from the collection will be auctioned off on June 14th, while the remaining stamps will be sold on June 15th. “There’s multiple stamps that’ll bring $500,000 or $750,000 (USD) but the (one-cent) Z-grill is the star of the show,” Shreve said. “I just know some people who are lusting for it, and we want to try to get as many people interested in it as possible.” Image credits: Robert A. Siegel Auction Galleries

Money & Banking

Airline selling international flights for under $400

Looking to jet off to Europe without breaking the bank? Well, now might be your chance! Budget airline Scoot has just unveiled an irresistible March sale, offering one-way flights to various European and other international destinations for less than $400. With more than 60 destinations on offer, travellers from Sydney, Melbourne and Perth are in for a treat. Scoot, known for its affordable fares and quality service, is the low-fare subsidiary of Singapore Airlines. The airline kicked off its one-week sale on Tuesday March 19, much to the delight of eager globetrotters. From Greece to Japan, and from Singapore to Indonesia, there's a plethora of destinations waiting to be explored. Among the highlights of this enticing offer are flights to Singapore starting from a mere $198, Athens from $355, Osaka from $315, and Denpasar from just $189. With such competitive pricing, it's no wonder travellers are scrambling to secure their seats. However, with great deals often come limited availability. While Scoot has not disclosed the exact number of seats up for grabs, travel experts advise acting fast. Graham Turner, from Flight Centre, <a href="https://7news.com.au/news/scoot-launches-march-sale-with-flights-to-europe-from-395-c-14009924" target="_blank" rel="noopener">cautioned 7News</a> that while the deals are fantastic, they're likely to be snapped up quickly. "There won't be a lot," he warned, while stressing the importance of doing thorough research before making a booking. It's essential for travellers to note that the fares advertised are all one-way and do not include additional charges such as taxes, checked baggage, WiFi, in-flight entertainment, food or flight changes. Despite these add-ons, the base fares remain incredibly competitive, making Scoot's March sale an attractive option for those seeking budget-friendly travel options. If you've been dreaming of am international getaway, now is the time to turn those dreams into reality. But don't delay – Scoot's March sale is set to run only until Monday night March 25, giving travellers just a limited window of opportunity to snag these incredible deals. So, whether you're yearning to wander through the historic streets of Athens, indulge in sushi delights in Osaka, or relax on the pristine beaches of Denpasar, Scoot's March sale has something for every traveller's taste and budget. Don't miss out on this chance to explore Europe without breaking the bank! Image: Scoot

Travel Tips

Mission: Impossible Sydney mansion sells for eye-watering price

One of Sydney's most iconic properties, known as the Boomerang in Elizabeth Bay, has sold for $80 million. The mansion is featured in the second instalment in the Mission: Impossible franchise, with the 2000 movie starring Tom Cruise being set and filmed in Sydney. It was the first house to officially sell for above $1 million in 1978, before setting another record in 2002 when it fetched $20.7 million. Now, multiple sources have confirmed it has been snapped up by a purchaser, originally from Asia, for four times what it last sold for. The property has long been rated as one of Sydney’s Top 50 homes, and has been in the name of Katrina Fox, the daughter of Melbourne-based billionaire trucking magnate Lindsay Fox, since 2005. The impressive home was put up for sale by Ray White in 2017 with hopes of selling for $60 million and then again with Brad Pillinger of Pillinger for $80 million in 2021 — the last agent to have it listed. Pillinger couldn’t be contacted ahead of publication, but other sources have confirmed the property has sold for the $80m asking price, while speculation from other sources that the result was $105 million have been dismissed. Boomerang sits on 4233 square metres of waterfront land, and features 25 rooms including a private cinema modelled on the State Theatre. Image credits: realestate.com.au / Paramount Pictures

Real Estate

Tiny ancient Christmas tree sells for thousands

One of the world's first mass-produced Christmas trees has sold at auction for a whopping 56 times higher than its original purchase price. The tree was first bought in 1920 for just six pence, and was snapped up at the auction in England by an anonymous buyer for £3,400, or $6,433 AUD. The tree was described by the auctioneer as “the humblest Christmas tree in the world”, measuring just 79cm in height, boasting 25 branches, 12 berries and six mini candle holders. The tree sits in a small, red-painted wooden base with a simple decorative emblem. The Christmas tree was first bought by the family of eight-year-old Dorothy Grant in 1920, with Dorothy using it as her tree until she passed away at the age of 101. The tree is believed to have been bought from Woolworths, with Grant decorating the tree as a child with cotton wool to mimic snow, given that baubles were considered a luxury at the time. After Grant's passing in 2014, the charming tree was passed down to her daughter Shirley Hall, who was "parting with the tree now to honour her mother's memory and to ensure it survives as a humble reminder of 1920s life". It was expected to sell for between £60 and £80 (between $110 and $150 AUD) but was bought for the astonishing price of £3,411 when it went under the hammer at Hansons auctioneers on Friday. Charles Hanson, the owner of Hansons and a regular guest on the BBC’s Bargain Hunt said, “This is one of the earliest Christmas trees of its type we have seen. The humblest Christmas tree in the world has a new home and we’re delighted for both buyer and seller … I think it’s down to the power of nostalgia. Dorothy’s story resonated with people.” He added, “As simple as it was, Dorothy loved that tree. It became a staple part of family celebrations for decades. The fact that it brought such joy to Dorothy is humbling in itself. It reminds us that extravagance and excess are not required to capture the spirit of Christmas. For Dorothy it was enough to have a tree." “Some of the first artificial Christmas trees utilised machinery which had been designed to manufacture toilet brushes. The waste-not, want-not generations of old are still teaching us an important lesson about valuing the simple things and not replacing objects just for the sake of it." Image credits: Hansons Auctioneers

Money & Banking

Little girl's Anzac artwork sells at auction for $100,000

A moving artwork created by nine-year-old Evie Poolman has sold for a staggering six-figure sum at auction. Young Evie created the artwork of the 'Lone Soldier' just six months after receiving a devastating diagnosis of diffuse intrinsic pontine glioma (DIPG), a deadly type of brain tumour. Evie underwent four brain surgeries and 30 rounds of radiation for her condition but tragically died at the age of nine in June 2021. Now, the artwork - a striking red and orange piece depicting an Anzac standing before a grave at sunset - has been auctioned off by Evie's parents in an attempt to raise money for a cure for the horrible disease. Currently, DIPG has a zero per cent survival rate but despite this, since 2015, less than a million dollars has been dedicated to research in Australia. Evie's parents Chuck and Bridget chose to auction off their late daughter's artwork at the Heels 2 Heal charity lunch in Sydney on Friday, to increase the funding of research into DIPG. The lucky winner, Jo Kinghorn, forked out a staggering $100,000 for the artwork, as she handed over the money "with absolute joy and pleasure". "It was so exciting for me, I've never really experienced anything like that before," Kinghorn, a friend of the Poolman family, told 2GB's Ben Fordham, adding that she hadn't woken up that day expecting to part with so much money. "I'm just so grateful that the painting ended up in my hands." Kinghorn was more than happy to contribute so much money, knowing the funds were going to a good cause. "It's a drop in the ocean as to what is needed, and the government has the ability to properly fund these trials," Kinghorn said of the money spent. "I saw first-hand what this did to a family, and the strength of this family is beyond words. I cannot be more proud. It's just devastating." Image credits: 2GB

Money & Banking

"These guys have held on": Why a family turned down $50 million for their home

A Sydney family has repeatedly refused to sell their family home to major developers, despite being offered an eight-figure sum for the property. The Zammit family have lived in their impressive home for several decades and have said time and time again that they have no intentions of selling the house, which is situated on a 20,000 square metre parcel of land in western Sydney. With the massive area of land being smack bang in the centre of a major housing development, some realtors have estimated that the property could fetch a price as high as $50 million. Despite the family saying they would be staying in the home, documents obtained by <a href="https://www.news.com.au/finance/real-estate/selling/sydney-familys-home-goes-from-858k-to-50m-as-major-development-crops-up/news-story/eb0bacc20cdae5cad461ff89797cb71d" target="_blank" rel="noopener">news.com.au</a> have confirmed that the house was up for sale in both 2015 and and 2016. The house was swiftly taken off the market after being initially listed with a price range $858,000 to $945,000. And just a few years later, they are believed to have received offers of between $33 million and $50 million. The massive property boasts a lush green lawn in stark contrast to all the houses around it and also a huge 200 metre driveway. But just metres away are rows and rows of carbon copy grey houses crammed into tight blocks as part of a major development. The high-density neighbouring homes are built right up to the fence of the Zammit's property, and neighbours reportedly don’t want the owners to sell as they like living in a cul-de-sac. It’s estimated that 50 houses could fit on the Zammit's block of land if they followed the same style as other developer homes in the area. A local real estate agent previously praised the Zammit family for staying put, despite the big payouts they have likely been offered. “The fact that most people sold out years and years ago, these guys have held on. All credit to them,” Ray White Quakers Hill agent Taylor Bredin told 7News. “Depending on how far you push the development plan, you’d be able to push anywhere from 40 to 50 properties on something like this, and when subdivided, a 300 square metre block would get a million dollars.” Image credits: 7News

Money & Banking

News

Shop

Catalogues

Contests

Entertainment

Travel

Health

Lifestyle

Finance

Property

Games

Information

Keep up to date

Search

Ray Martin cashes in after selling luxury Sydney home

Does ‘made with love’ sell? Research reveals who values handmade products the most

Olivia Newton-John's iconic leather jacket sells for astonishing price

Donald Bradman's baggy green sells for eye-watering price

Tourism hotspot in Italy attracts attention for selling strange souvenir

Qantas faces the music for selling seats on cancelled flights

Aussie family's refusal to sell family home could land them a $60m fortune

Is it worth selling my house if I’m going into aged care?

Jamie Oliver sells vintage Fiat with unique plate number

Doting dad sells everything he owns to develop cure for son's "incurable" condition

Travel agent arrested after allegedly selling fraudulent bookings

Yoko Ono selling John Lennon's New York home for first time in 50 years

Adorable Collie sells for world record-breaking price

Best-selling author diagnosed with "aggressive" brain cancer

Why a one-cent stamp is set to sell for millions

Airline selling international flights for under $400

Mission: Impossible Sydney mansion sells for eye-watering price

Tiny ancient Christmas tree sells for thousands

Little girl's Anzac artwork sells at auction for $100,000

"These guys have held on": Why a family turned down $50 million for their home

Our Partners