Ray White Surfers Paradise will conduct an in-room auction of more than 100 Gold Coast properties, making this the 22nd consecutive year it has held this auction extravaganza.
Chief executive Andrew Bell told REB that 1,500 to 2,000 people usually visit the auction room at some point, with 300 to 400 of those placing bids.
Mr Bell said the office would then call back all attendees – as it would at any time of the year.
“Of course, there will be people who miss out on the day, so we will work with those people to find them alternative options,” he said.
The event is held each January to coincide with a surge of interstate tourists, foreign tourists and expat visitors, according to Mr Bell.
“We learned 20-odd years ago that we had this really big increase in buyers at this time of year, so we saw the timing was right,” he said.
“Then we learned there was a variety of interest – some people were interested in acreages, some wanted investment properties, beachfront properties, houses and duplexes. So we started to put a program together that would get a great array of properties.”
Mr Bell said the annual event has become well known on the Gold Coast, which means it not only draws more buyers than a typical auction but also leads to homeowners asking to participate from as early as June.
This year’s event is expected to attract more interest than in the recent past because the Gold Coast market has rebounded after several poor years, Mr Bell said.
For the second year running, the event will be held in conjunction with the Gold Coast Home & Living Expo, which should help Ray White Surfers Paradise bring even more people through the doors.
[Related: Gold Coast tipped as market to watch in 2016]