The colossal Sunday event put on by the Sunshine Coast’s five Ray White offices attracted a crowd of 400 people, 100 of whom registered to bid.
A whopping $9,945,000 worth of property was purchased on the day.
There were a variety of properties on offer, ranging from rural holdings, to investment apartments, stand-alone homes and one commercial property.
Four of the homes sold prior to the event, and 15 properties sold under hammer, in what auctioneer Haesley Cush said was a great result.
“We were pleasantly surprised by the number of bidders and the way they participated,” he said.
“We expected a lot but no where near that many, the sales prices were higher and the number of bidders was also higher than we expected.”
Auctioneer Dan Sowden said it made sense to hold a large auction event at this time of year.
“Spring is the busiest time of the year and the best real estate is coming onto the market so we wanted to tie it in,” he said.
The Maroochydore crowd was mostly made up Baby Boomers, but Mr Sowden said there was a high proportion of owner occupiers interested in the properties as well as investors.
Both auctioneers kept things moving at a clip, with properties selling for large sums in a matter of minutes.
The first property on the market, an apartment with 360-degree views at19/3 Pacific Boulevard, Buddina, sold for $1.24 million in less than five minutes.
The second property to go was a more modest apartment at 11/14 Mary Street, Alexandra Headland, which sold for $362,000.
Four bidders battled for the apartment, with a local investor coming out on top.
Selling agent Pam Thomas said the property sold well above the vendor’s reserve price, and they were “over the moon” when they heard the result.
Ms Thomas said the beauty of in-room auctions is that you always know there are going to be plenty of investors there on the day, and they could be the “wildcard” who ends up buying the property.
While there was some fierce bidding, there was one truly stand out auction.
About seven people fought for 4 Koel Street, a modest three-bedroom deceased estate in a prime Noosaville location. Within minutes, bidding rose from $482,000 to a final price of $557,000.
Selling agent Nat King said he had expected it to sell, but the auction itself was better than hoped.
“Inquiry was really strong… I had over 100 enquiries, and 61 people through,” he said.
While interest had been from a real mix of people – investors, owner occupiers and first home buyers – the property sold to a young couple who will likely keep it as an investment for at least 12 months, before renovating and possibly moving in themselves.
Mr King said the property had attracted such attention due to it’s prime location in a secluded pocket of Noosaville.
Mr King said the result was fantastic, and the vendors “couldn’t believe it” they were so happy. A second property from the same vendors at 2 Buna Street, Maroochydore, sold for $505,000.