How buyer’s $2k bid secured luxury waterfront 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 had topped the previous highest bid by just $2,000 — 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 $2,000?”

But the underbidder was out, and the buyer took home the keys to the six-bedroom, four-bathroom property at 144 Tallebudgera Dr.

luxury waterfront home at Palm Beach
Hamptons style and super-sized house numbers

Ten registered bidders attended the auction, 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 an 892sq m lot was marketed by Rob Lamb, of Kollosche.

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 competive nature of the auction was exactly what was needed to get this result.”

The home is fully automated and has custom-made interior finishes
The home is fully automated and has custom-made interior finishes

Mr Panos said the turnout at the lunchtime auction signalled strong appetite for “quality properties”, with prestige buyers prepared to pay a premium for near-new or renovated homes.

“I am a big fan of the Gold Coast and today is an indication of why I love it so much.

“We had ten registered bidders, which is a very big number, while at the moment auctions in Sydney are getting about two to three registered bidders,” he said.

Features of the three-storey house include full home automation, custom-made interiors, a resort-style al fresco entertaining area with saltwater pool, spa, and waterfront cabana, and a private boat shed with a fixed jetty.

Balcony views from the three-storey house
Balcony views from the three-storey house

The kitchen has a Carrara marble-like island bench, shaker profile cabinetry, and a butler’s pantry.

All five bedrooms in the main house are on the first floor, including the master suite, which has a deluxe ensuite plus a separate parents’ retreat, while there is also a guesthouse with a separate entrance, living area and kitchenette.

Other features include two double garages with custom doors, a circular driveway, car wash bay, landscaped lawns and gardens, security camera system, 11 TVs, and 4 Apple iPad launch ports.

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