Nearly 150 properties under the hammer on Gold Coast in one of Australia's biggest auction days

There were 135 properties up for grabs on Sunday in one of Australia’s biggest auction days yet. 

Ray White Surfers Paradise’s The Event saw more than 150 agents and 333 registered bidders converge on the Gold Coast Turf Club. 

Company chief executive Andrew Bell opened the event before an estimated 2000 audience members. “It’s going to be a strong 2017,” he said. “Today’s not the day to be in second place.”

Twenty properties sold before Mr Bell hit the stage and bidding was off to a rapid start.

The first property to sell was second on the agenda: 10A “Imperial Surf” at 80 Esplanade Surfers Paradise.

Bidding on the two bedroom, two bathroom apartment started at $250,000 and quickly shot up to the $500,000 mark with more than half a dozen bidders fiercely fighting over the beachfront unit.

Bidding came down to last call several times before slowing at $550,000. It sold at $556,000.

A Brisbane couple nabbed the top floor unit at 100 Cotlew Street East for a bargain, $312,000 for another two-bedroom and bathroom property. The new owners were overjoyed with the buy. They declined to be named because they hadn’t told any of their friends and family they were moving to the Gold Coast. 

“We started looking for properties at 9am yesterday,” the wife said. “I can’t believe it … within 48 hours we found a place to live.” 

Sunday’s biggest sale was 76 Admiralty Drive in Paradise Waters. The huge riverfront home sold under the hammer for $3.5 million.  

Mr Bell said the sale was a vote of confidence in the postcode. “It’s good to see in Paradise Waters,” he said. “It’s a market that’s seen a bit of action since the start of the year.”

A site of 835 square metres of unimproved land surrounded by prestige homes in Paradise Waters sold for $2.8 million, which auctioneer Haesley Cush said was a sign of strength returning to the Gold Coast property market.

Houses, land and apartments were not the only things for sale, a Westcoaster 60 houseboat was up for auction too.The luxurious boat had four bedrooms, a heated spa and space for jet skis and canoes on board.

Bidding paused at $620,000 to get advice from the vendors. Agents struggled to contact them because they were “unsurprisingly… on the water”, as auctioneer Peter Camphin put it.

Tamborine Mountain mansion Eagle’s Retreat saw some interest, but failed to reach the vendor’s expectations. Mr Cush placed a vendor bid of $2.5 million and said he would go “no lower”. After negotiations it was passed in at $2.6 million; vendor Brett McMahon previously told Fairfax Media he had high hopes for the sale.

By the end of Sunday, the clearance rate was hovering about 50 per cent. Mr Bell said both buyers and sellers were being stubborn. 

“We know how close we were in a lot of these, people are digging their toes in,” he said. “We’re within a couple of thousand of the reserve price in most cases.

“In a couple of days [the clearance rate] will be closer to 80 per cent.”