A fresh renovation of a one-bedroom apartment in Cremorne lifted the sale price for the vendors by $400,000 to $1.25 million compared to a $850,000 offer late last year in its original condition. The one-bedroom turnkey apartment at 501/221 Ben Boyd Road has panoramic views of Middle Harbour and a parking spot. Six buyers registered, and four actively bid for the Sydney pad guided at $1,050,000. Bidding opened at $1 million, jumped to $1.15 million, then rose in $10,000 strides above its $1,155,000 reserve until it sold under the hammer for $1.25 million. There is no legal requirement for a vendor’s reserve to be in line with their property’s price guide.