Airlie Beach waterfront bungalow with no reserve at auction this month
A waterfront bungalow on the Whitsunday Islands will go to auction without a reserve next month, for the first time ever recorded.
Marketing agent, Steve Marks, Ray White Whitsundays, pointed out that it provides buyers a chance to get a good deal for the one bedroom, one bathroom bungalow.
It is, however, likely to prompt enough interest that there should be some competition.
"There is no doubt it my mind it won’t sell. If the one and only bid is for $1, then that’s what it will sell for," said Marks.
"Our vendors asked us how we can guarantee a sale and our answer was to have no reserve," he said.
This type of auction is uncommon due to the lack of control the vendor has over the outcome.
"With a no reserve auction the agent is 100% responsible for the sale. I have sold this way once before in the past," he said.
"About five years ago I auctioned a piece of Whitsunday land with no reserve. The first bid started at $5,000 and suddenly the room went quiet. I thought I was going to be sick. It sold for $130,000. A scary, yet exciting sales process."
Over the past 10 years, Palm Bay had been managed by Peppers Resort and recently changed.
The bungalow, 13 Palm Bay Street, Airlie Beach, located on Long Island mid-way between mainland Australia and Hamilton Island, is a beachfront position near pools and resort facilities.
The auction will be held at Coral Sea Resort on 18 November at 6pm.
