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Rather than waiting for the market to come up north, one auction house is bringing exclusive properties down south to where the market is.
Queensland Sotheby’s International Realty plans to auction several high-end Tropical North Queensland properties in Sydney later this month.
The owner and CEO of Queensland Sotheby’s International Realty, Paul Arthur, said that most of the buyers for these properties were based down south, so it made sense to sell here.
“Buyers who are looking for properties at this level in Tropical North Queensland are typically from Sydney and Melbourne, so we decided to bundle a number of luxury properties and bring them to those interested in one night,” Mr Arthur said.
One of Sotheby’s agents, Barbara Wolveridge, echoed Mr Arthur and said that all of the interest was from buyers that don’t live in Queensland.
“The demand for pretty much all of our high-end properties is coming from interstate buyers, so it just makes sense to hold the auction there,” Ms Wolveridge said.
An auction of this nature also brought forward an end date to a property sale, according to Ms Wolveridge, further increasing demand.
“Someone might see a property, but they don’t really rush to secure it, because they think ‘Oh, it’ll still be there when I’m ready’. But with an auction like this, people realise they only have a few weeks to secure that property,” Ms Wolveridge said.
Sotheby’s will also partner up again with online auction platform Gavl to project the auction around the world.
Director of Queensland Sotheby’s International Realty Deanne Arthur said that they were excited to be able to have bidders from around the world.
“We will be using Gavl technology, allowing live-streaming and online bidding anywhere in the world. In fact, we are the only Queensland agency doing so, aligning with our national and international presence,” Ms Arthur said.
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