Under the hammer: Gold Coast mansion sells at auction after 115 bids

4 Paradise Place, Surfers Paradise sold after 115 bids.

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Two buyers battled it out for the keys to a Queensland mansion that attracted a whopping 115 bids when it went under the hammer.

The Gold Coast property in Surfers Paradise sold for $6.476m when it was offered at auction but it was the bidding that really turned heads.

“It was very aggressive and very competitive,” said agent Kollosche agent Matthew Follent, who marketed the property with Michael Kollosche. “It was an hour of bidding and quite theatrical. It was a very good show.”

The house from the street.

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Auctioneer Justin Nickerson called the auction which attracted six registered bidders.

Mr Follent said he was confident the property would sell but wasn’t expecting the show that was put on.

“The crowd was laughing with the continuous back and forth bids,” Mr Follent said.

“It was like the two bidders were psyching each out with another $500, and then another $500. It finally sold when one of them pulled out.”

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The property comes with a pontoon.

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The three-bedroom house at 4 Paradise Place, which underwent a full-scale renovation designed by Reece Keil Design, is on a 506sq m riverfront block with city skyline and hinterland views.

Standout features include a media room, office, lift, covered alfresco patio, wide sandy beach and pontoon.

The kitchen and living area.

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Property records shows the seller, Beverley Finn, paid $2.735m for the property in 2017.

Mr Follent said the sale price exceeded the seller’s expectations.

“It was just so emotional on the day,” he said.

“It was the right ingredients and the right time with a well run campaign where we stuck to our processes and ended up with a dream auction.”

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Mr Follent said the prestige market on the Gold Coast continued to lack supply.

“About 70 per cent of the buyers we are seeing are from Melbourne, Sydney or New Zealand,” he said.

“They’re moving here in flocks and that is adding to the lack of supply.

“People have realised how good the Gold Coast really is.”

It’s a maturing city with plenty of do with your family and I think property will continue to be strong.”

PropTrack data shows the median house price in Surfers Paradise is $3,325m up 20 per cent over 12 months.