Clive Palmer sells waterfront mansion on Gold Coast

Clive Palmer has reportedly sold his Gold Coast waterfront mansion to a confidant soon after beginning its marketing.

It was bought by former Deloitte chief executive Domenic Martino, who's also listed as a director of the Palmer Foundation.

He's paying the same $1.75 million price that Palmer paid in 2011.

Set on 790 square metres and only built in 2004, the Paradise Point home has five bedrooms, a theatre room, wine cellar, executive home office and a swimming pool.

Palmer snatched the home for a steal five years ago when he bought it from Fred Taplin, who had paid $2.45 million in 2007.

Talpin, a former Gold Coast Galaxy chief executive, later went up against Palmer's Gold Coast United FC on a rival bid for the region's first A-League franchise, a battle which Palmer won.