What Would You Pay for an Island Bungalow on the Whitsunday Islands?

For the first time in history a waterfront bungalow located on the Whitsunday Islands will go to auction with no reserve price.

Marketing agent Steve Marks of Ray White Whitsundays says this is a rare and unusual method of sale but also gives buyers a chance to snap up a deal.

“Our vendors asked us how we can guarantee a sale and our answer was to have no reserve,” he said.

“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.”

Steve Marks says no reserve auctions don't pop up very often due to the lack of control on price.

“With a no reserve auction the agent is 100 per cent responsible for the sale. I have sold this way once before in the past.

“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.”

For the past 10 years Palm Bay was managed by Peppers Resort and only recently has changed.

The bungalow is located on Long Island which lies mid-way between the Australian mainland and Hamilton Island in Queensland's' Whitsunday Island Group.It is on prime beachfront position close to the pools and resort facilities.

“This is an opportunity to purchase a piece of island (at any price) and have a return on investment with holiday rentals,” said Steve.

The auction will be held at Coral Sea Resort on Monday 18 November at 6pm. For more information contact Steven Marks on 0423 790 850.