Sandringham's $7.8 million Versace inspired trophy home tops Sydney's weekend auctions

It was Sydney's highest weekend sale, on a weekend when another strong 86% auction success rate was achieved.

It was first time the trophy home had been offered by the original owner of the Versace-inspired Sandringham mansion.

The $7.8 million sale was achieved through Liam Tsaprazis and Kelvin Zheng at McGrath Estate Agents.

There was a strong Chinese appeal about the home which was completed about eight years ago by the Tomazin family.

There had been hopes of $8 million, with bidding interest from three parties.The beachfront reserve masterpiece provided a luxurious indoor/outdoor lifestyle with views over Sandringham Bay, setting a record price in the St George District district.

The block cost $2,765,000 in 2002.The home sits on 980 square metre block at its Primrose Avenue cul-de-sac location, moments from Sandringham's café culture.

APM's 86.1% initial clearance rate was the seventh consecutive weekend at 80% or above. There were 602 of the 715 results included in the preliminary tally.

McGrath auctions achieved a clearance of 87% for Sydney.

Last weekend's revised figure came in at 80.4%.