Brisbane investors cleared out three different auctions across one morning for nearly $3 million, beating seventeen other bidders to claim properties across the city.
The rainy Saturday saw three, seven and nine registered bidders go head-to-head across the various properties, with one property selling for more than $100,000 more than its best offer prior to auction.
![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
Ray White Wilston agent Nick Thornton and the vendor of the home, shortly after a successful sale.
The five-bedroom, two-bathroom home at 264 King St, Caboolture, had a best offer of $780,000 before going to auction on Saturday morning.
Ray White Wilston agent Nick Thornton said he thought the 50-year family home could sell for better at auction, and his vendor trusted him to go through with the process.
“I thought that if we could get the sellers to $820,000 then I had done a great job,” he said.
Three registered bidders arrived to the auction, all of them active as they competed to raise the price above the reserve of $800,000.
The underbidder, who made the offer of $780,000, ended up bidding $915,000 on the day.
However, they ended up losing out to an Indian investor, who had bought homes from Mr Thornton before.
“This is the beauty of the auction; pressure and competition,” he said. “The buyer knows the value of the property when they see their competition in front of them.”
33 Highbury St, Acacia Ridge
Potential buyers managed to attend the auction during a break in the morning rain, as offers for the home went past the set reserve price.
Meanwhile, seven registered bidders appeared for the auction at 33 Highbury St, Acacia Ridge: a three-bedroom, one-bathroom home, being sold after ten years of ownership.
Four active bidders were going after this home, with the battle soon narrowing down to two bidders. Each bidder pushed past the reserve price for the house, as bidding escalated beyond $850,000.
In the end, an investor from Tarragindi bought the property for an offer of $890,000.
Said investor bought the property for more than $100,000 over the suburb median of $749,000. Recent renovations had been made on the home, driving up the value of the property.
Finally, a home at 31 Lucy St, Albion, had nine registered bidders and the biggest sale between the three properties.
Despite the rain, bidding remained active between five different auctions, drawing a crowd of around 50 people to see how the home would sell after 60 years off the market.
Bidding went back and forth between five active bidders, who quickly rose the price beyond the $1 million mark.
Finally, the home sold under the hammer for $1.115 million, to another investor who was buying the home for the family trust.
Ray White Metro North agent Ashley Robinson said the home was a complete renovator, whose vendors were thrilled at the outcome of the day.
“There was rapid fire energetic bidding,” she said. “It has only ever had two owners. They were absolutely over the moon; they had held it as an investment property for all that time.”
The investor will reportedly renovate the property further, before selling it once again.
