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Auction 'Event' yields 3,000 buyers, strong sales

Auction 'Event' yields 3,000 buyers, strong sales

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Staff Reporter

More than 3,000 prospective property buyers flocked to a day-long auction – entitled ‘The Event’ - held on the Gold Coast last Sunday, with more than half of the 145 properties selling, the group reported.

"‘The Event’ is the culmination of reputation and the relentless hard-work of Andrew and Greg Bell and their team at Ray White Surfers Paradise," Ray White deputy chairman Sam White said.

News Ltd reported that more than 3,000 people came through the day-long auction on Sunday and Ray White Surfers Paradise Group agents reported more than 4,000 property inspections for properties on sale.

According to Ray White, of the 145 properties that went under the hammer, 84 sold, yielding a 58 per cent auction clearance.

One of four auctioneers during The Event and joint chief executive of Ray White Queensland, Peter Camphin, described the investor market interest as strong.

“One of the reasons the Bells hold this event in January is to capture the interest in the Gold Coast that comes from interstate during the Christmas holiday break. In the end there were a significant number of Victorians, for instance, who purchased," Mr Camphin said.

"For the same purpose, we saw a lot of units on offer and a smattering of receiverships and mortgagee in possession sales."

"From the rostrum, I had bidding on 90 per cent of the properties I called. It's clear there was a lot of interest as well as caution on price. There was certainly a lot of good activity and genuine bidding. I had a list of 40 bidders handed to me that were registered to bid on multiple properties. That's quite extraordinary."

Mr Camphin said a number of units were sold to people who hadn't seen them.

The strong result came on the same weekend that independent South East Queensland auctioneer Jason Andrew reported a 45 per cent clearance rate.

In its 19th year, up until this year's auction The Event has been responsible for sales worth more than half a billion dollars, with more than $30 million in total sales achieved each year since 2008, Ray White reported.

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Auction 'Event' yields 3,000 buyers, strong sales
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