‘THAT’S RUDE’: LOCAL BUYER’S $2K BID SNAGS LUXURY HOME
A LUXURY waterfront home at Palm Beach sold under the hammer for $5.672m, marking a hefty profit for the vendors who purchased the Hamptons-style pad just before the pandemic boom.
But despite the impressive sale price, the local buyer topped the previous highest bid by just $2000 — prompting a spicy response from auctioneer Tom Panos, known for his appearances on The Block. “I think that’s rude,” Mr Panos said. “How can you value it at $2000?” But the underbidder was out and the buyer took home the keys to the six-bedroom, four-bathroom property at 144 Tallebudgera Drive.
Ten registered bidders attended the auction last Friday, with the property announced on the market when the price hit $5.6m.
Mr Panos fielded another bid of $5.66m, then $5.67m, before the new owner came back with his contentious final bid.
The home, on a 892sq m lot, was marketed by Kollosche’s Rob Lamb.
It last changed hands for $3.1m in January 2020, as the arrival of Covid-19 sent jitters through the housing market before prices soared to record highs.
Mr Lamb said the campaign had attracted strong interest, including from some high-profile football players, with more than 150 inquiries and seven inspections over two weeks.
“The market is still good. Blue-chip real estate is still fetching great money,” he said.
“The competitive nature of the auction was exactly what was needed to get this result.”
Mr Panos said the turnout at the lunchtime auction signalled strong appetite for “quality properties”.
“I am a big fan of the Gold Coast and today is an indication of why I love it so much,” he said.
“We had 10 registered bidders, which is a very big number, while at the moment auctions in Sydney are getting about two to three registered bidders.”