Ninth Island, a Bass Strait island off Tasmania's north-east coast, has sold for more than $1.2 million.
The local owner of the island had initially listed the island for sale at auction last July but knocked back an offer of $1.19 million.
Selling agent Jack Lim of Fletchers Balwyn North told the Australian Financial Review the buyer was a local who bought the island before its latest scheduled auction without viewing it.
The island, which is 11 kilometres from the coast, is about 1.3 kilometres wide.
Its name is best known for the Tasmania's wine, Ninth Island.
Jack Lim said the new buyer might want to use it for ecotourism.
Ninth Island was being marketed to Chinese buyers around February last year.