The winners will walk away from the show with a windfall gain, but the finale soon became a tale of two markets – and not all contestants were so lucky.
has given away its largest prize yet, after contestants Steph and Gian Ottavio’s house soared $1.65 million above its reserve price at auction to win the season.His outsized offer means NSW high school sweethearts Steph and Gian take home the $100,000 winner’s cheque, pocketing a total of $1.75 million.
Steph and Gian won the 2023 season of The Block after their five-bedroom Japandi-style residence sold for $5 million. Melbourne’s preliminary auction clearance rate by Saturday evening was 59.8 per cent from 189 reported results, on Domain figures.The five-bedder had a price guide of $2.8 million to $3 million and a reserve price of $3.25 million.
Proceedings began at $2.75 million and when the offers reached $2.97 million, Valentic asked if the home was on the market, to which auctioneer Sam Inan of Belle Property Brighton replied they were selling. A short break followed and when the auction resumed, two parties traded small bids until the hammer fell.“Our agent literally s--- the bed with our game plan,” she said, “And pretty much said that our reserve was what it was to the auction.
A feature of the show this year was reserve prices set above advertised price guides, which is legal in Victoria but can be confusing for buyers. This practice generallyHe paid $3.1 million for the four-bedroom home, which had a price guide of $2.7 million to $2.9 million and a reserve of $2.97 million, leaving the contestants with $130,000 profit.
Queensland parents Leah and Ash Milton were expecting bidding from the attendee who earlier left in an ambulance. They decided not to risk continuing once they watched Portelli and Wallis lose interest. Comedian Dave Hughes attended, but did not bid.
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