Record $32 million auction bid rejected for Sovereign Islands waterfront mansion

Vendor Riccardo Rizzi, who rejected the $32 million bid and last year a $28 million bid, remains confident he will achieve his desired price

Record $32 million auction bid rejected for Sovereign Islands waterfront mansion
Record $32 million auction bid rejected for Sovereign Islands waterfront mansion

A record $32 million auction bid was made for a waterfront mansion on The Sovereign Islands in South East Queensland.

But the vendor Riccardo Rizzi, who rejected the $32m bid offered at weekend auction, remains confident he will achieve the desired price.

“The Queensland market’s hot, it’s booming,” he told The Courier-Mail post-auction. 

“The house reached $32 million, it didn’t sell. It’s now on the open market at $36 million and there’s a couple of people interested."

There was an onsite auction attended by eight registered bidders last October when a $28 million vendor bid was lodged.

The now Perth based civil engineer Riccardo Rizzipurchased the incomplete house in 2013 for $5.3 million.

Set on 4255 square metres, the finished home has six bedrooms and a 30-metre pool in a roman-inspired garden.

It has been listed through Amir Mian of Amir Prestige.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Sovereign Islands Record Offer Waterfront Mansion

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