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In the space of one day, an ambitious auction spectacular managed to sell more than $13 million in property in Queensland’s Gold Coast.
Ray White held the auction event after an extensive print marketing campaign to leverage off the Commonwealth Games.
Ray White’s Queensland CEO, Tony Warland, said that there were 200 bids on the 51 properties ranging from prestige waterfront homes to affordable units.
“Buyers have more faith in a property’s value when other people are looking to buy it, too, and there was more than 200 bids on these properties,” the CEO said.
Mr Warland said that 25 per cent of the properties cleared on the day, with the remainder in negotiation with buyers.
“We are delighted not only by the amount of sales but with the amount of property being negotiated.
“We’ve created a lot of opportunities for sales and there’s no better way to achieve a premium price than when you become the competition creator.”
The campaign for the auction was Ray White’s biggest ever print marketing exercise with The Gold Coast bulletin, with more than 300 pages of property marketed during the Commonwealth Games on behalf of their owners, Mr Warland said.
“This campaign brought so much activity to the market during the Games period, creating so much opportunity for our sellers,” the CEO said.
Mr Warland added that many other agencies had gone quiet during the Games period, but Ray White decided to go all in.
“We made it our focus to enhance our owner’s properties to increase exposure for them during this period, and the real success is now the market is re-emerging after the Commonwealth Games,” the CEO said.
Ray White’s Queensland chief auctioneer, Mitch Peereboom, said that the auction highlighted buyer confidence in the Gold Coast.
“The eyes of the world have been firmly on the Gold Coast in recent weeks, with the Commonwealth Games and this auction event confirm[ing] there is still a strong demand in this buoyant market,” Mr Peereboom said.
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