If Johnathan is making a profit from it at that price, good luck to him. I met him near 3 years ago when he showed me a Cav 28 for $18,000 which I passed on and bought my Lotus 9.2 for $28,000 the next day.
I admire the guy for his willingness to take a punt. Nobody would know Sydney Harbour better than he, or the market.
He operates his business from a 14 to 16 foot dinghy and a good smart phone. Seems to be honest (got my $1,000 holding deposit back) and I wish him all the best.
When you look at what he is doing, it is a dream lifestyle and very much a fringe dweller thing.