Hundreds of bidders miss out as Gold Coast mega-auction sells $114m in property

6 days ago 5

News Corp Australia

First published 3 Feb 2026, 6:00am

Four offices joined forces for the Ray White Auction Experience 2026

More than 330 bidders are still without a home following a mega-auction event with a massive 76 per cent clearance rate.

Ray White’s Auction Experience on the Gold Coast included around 150 properties ranging from luxury homes to one-bedroom apartments, with sales under the hammer totalling more than $114m.

Ray White Malan + Co’s clearance rate of 76 per cent topped the day’s overall rate of 60 per cent, with the Burleigh Heads-based office selling 64 properties either prior to auction or on the day, totalling $88m.

There was an average of 3.7 bidders per auction

With more than 400 registered bidders on the day and an average of 3.7 buyers per auction, more 330 people missed out on their dream home and are still in the market, according to Ray White Malan + Co CEO Michael Andrews.

“It’s wonderful that more than 60 people are now settling on their new purchase but with so many under bidders on the day, the market is still flush with buyers and they won’t want to miss out a second or third time,” Mr Andrews said.

“That’s great news for vendors who might’ve thought they’d missed the summer auction season, that demand is still there so I expect open homes to be very busy over the coming weeks.

“The Auction Experience, overall, was an incredible event — there was so much energy in the room, and the early blocks saw something like 49 out of 50 lots sold under the hammer.”

Hundreds of buyers are still on the hunt

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Five Ray White agencies come together for the event, also including Surfers Paradise, Advantage, Robina and TMG.

The day’s top sale was $4.4m for a renovated beach house at 106 Seagull Ave, Mermaid Beach, which last sold for $3.35m in 2022.

Among entry-level properties, a rundown shack at 12 Railway Pde, Nerang, was snapped up for $910,000.

“To sell $117m worth of property across all the agencies shows there’s supply as much as demand, and I think that gets overlooked in a lot of real estate commentary,” Mr Andrews said.

“We often hear that people are moving to the Gold Coast in droves, and that’s true, but if vendors aren’t listing their homes, then they can’t even make an offer.

“Good luck to all those under bidders; there is a home out there for them, I can guarantee them that.”