Carnival-like auction breaks Australian record for most bidders ever – realestate.com.au

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160 registered bidders attended 19 Billabong Street, Crestmead. It was a no reserve property that was left abandoned and wrecked by its former tenants. Crestmead Saturday 28th October 2023 David Clark

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An unliveable dump in Logan has sold at an auction that attracted more than 160 registered bidders and created mob-like scenes.

The record-breaking auction at 19 Billabong Drive, Crestmead, sold for $494,700 and saw the most bidders ever for an Australian auction, with 161 registered bidders.

Over 500 spectators watched as the rare no reserve auction opened with a bid of $1 before eventually reaching the selling price.
Everyone who inspected the property had to sign an indemnity form before looking in the house.

160 plus registered bidders attended 19 Billabong Street, Crestmead. It was a no reserve property that was left abandoned and wrecked by its former tenants. Property agent Cory Boyd with sold sign. Crestmead Photo: David Clark

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Property agent Cory Boyd, who executed the campaign and creative property video, said while he knew the property would drive a lot of interest, he didn’t anticipate breaking the record of most bidders in the country.

“I’ve never seen anything like today in my career. Our number one priority was to get the best result for our seller,” Mr Boyd said.

“We had a local charity PCYC out here today with popcorn, a fairy floss machine and a sausage sizzle.

“The new owners will do a basic renovation of the property, rent it out and maybe sell it in a few years. Crestmead remains very popular with buyers.”
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Everyone who inspected the home needed to sign an indemnity form. Photo: David Clark

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Principal of Ray White Marsden Avi Khan said he was thrilled with the result, and the sellers put a lot of faith in the creative campaign.

“We always tell our sellers we’re the safest pair of hands south of Brisbane. We want to uplift the area, uplift the community, home’s are affordable here, and we offer transparency in the buying process,” Mr Khan said.“

“The market is humming at the moment. It’s very well placed. I think if you want to buy you should get in the market straight away. There is something in it for anyone, and there’s no sign of slowing down.

The home was a no reserve property that was left abandoned and wrecked by its former tenants. Photo: David Clark

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Auctioneer Justin Nickerson from Apollo Auctions said the auction was quite different to auctions he has called before.

“It was a party, carnival-like atmosphere. At most auctions, you usually have that initial apprehension from bidders, but there was none of that,” Mr Nickerson said.

“Bearing in mind the property‘s condition, it was an outstanding result. When you have supreme competition for the property, it doesn’t matter if you have a reserve.

“The market in Brisbane’s south and Logan have remained strong but can be a bit selective at times. A home like the one we sold today has been a bit more challenging to sell recently because builders are so hard to get. So it’s a really great result.”