Chance for a bar­gain Whit­sun­day Is­lands bungalow

Port Douglas & Mossman Gazette - - FRONT PAGE -

FOR the first time in his­tory a water­front bungalow on the Whit­sun­day Is­lands will go to auc­tion with no re­serve price. Mar­ket­ing agent Steve Marks of Ray White Whit­sun­days says this is a rare and un­usual method of sale. ‘‘Our ven- dors asked us how we can guar­an­tee a sale and our an­swer was to have no re­serve,’’ he said. ‘‘There is no doubt it my mind it won’t sell. If the one and only bid is for $1, then that’s what it will sell for.’’ Mr Marks says no re­serve auc­tions don’t pop up very of­ten due to the lack of con­trol on price. With a no re­serve auc­tion the agent is 100 per cent re­spon­si­ble for the sale. I have sold this way once be­fore in the past. About five years ago I auc­tioned a piece of Whit­sun­day land with no re­serve. The first bid started at $5,000 and sud­denly the room went quiet. I thought I was go­ing to be sick. It sold for $130,000. A scary, yet ex­cit­ing sales process.’’

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