Join us for our rolling coverage of The Block auctions for 2023.
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This year's Blockheads are in for a finale night to remember. Picture: Channel 9
Fourth auction: Kyle and Leslie secure $130,000 profit
8:58pm
A better result than Kristy and Brett, but it must hurt seeing a profit of $130,000 after the first two homes sold for more than $1m above reserve.
WA couple Kyle and Leslie’s House 1 sold to Adrian Portelli for $3.1m, his third purchase of the day.
| Auction | House | Reserve | Sold price | Prize money |
|---|---|---|---|---|
| 1 | House 4: Steph and Gian | $3.35m | $5m | $1.65m |
| 2 | House 5: Eliza and Liberty | $3.25m | $4.3m | $1.05m |
| 3 | House 3: Kristy and Brett | $2.97m | $3.035m | $65,000 |
| 4 | House 4: Kyle and Leslie | $2.97m | $3.1m | $130,000 |
This rollercoaster ride could still end on a high – final auction up next.
Ouch, Kristy and Brett sell for just $65,000 over reserve
8:47pm
After a long, drawn-out process, Kristy and Brett’s House 3 sold for just $65,000 over reserve.
Adrian Portelli failed to place a bid and Danny Wallis remained on the sidelines.
They're furious with their agent, who they believe not only damaged their auction result, but has set a low bar for the remaining auctions too.
You can see just how stark the difference is in this table:
| Auction | House | Reserve | Sold price | Prize money |
|---|---|---|---|---|
| 1 | House 4: Steph and Gian | $3.35m | $5m | $1.65m |
| 2 | House 5: Eliza and Liberty | $3.25m | $4.3m | $1.05m |
| 3 | House 3: Kristy and Brett | $2.97m | $3.035m | $65,000 |
It’s bringing back 2022 vibes, let’s hope this rollercoaster auction ride is back on the up for the final two auctions.
Third auction: Shock and disbelief all round at Kristy and Brett's
8:41pm
What just happened? We’ve gone from Millionaire’s Factory to struggle street.
In painful viewing, House 3's auctioneer declared the home was on the market as soon it reached the reserve – from there it's been a slow uphill battle.
Will they get more?
Second auction: Eliza and Liberty pocket $1.05m
8:23pm
It’s two from two for Adrian Portelli, who has snapped up House 5 for $4.3m after bidding against himself - twice!
That’s an extraordinary $1.05m above the reserve.
It’s a strong start – both teams have pocketed a lifechanging amount of money for their 13 week renovation.
Auction results so far:
| Auction | House | Reserve | Sold price | Prize money |
|---|---|---|---|---|
| 1 | House 4: Steph and Gian | $3.35m | $5m | $1.65m |
| 2 | House 5: Eliza and Liberty | $3.25m | $4.3m | $1.05m |
The two homes with the highest reserves are now out of the way. Can the momentum continue?
First auction: Steph and Gian sell for $1.65m over reserve!
8:05pm
The Block auction record has been broken, with Steph and Gian’s House 4 selling to Adrian Portelli for $5m, which is an unbelievable $1.65m over reserve.
At just over 700sqm, House 4 is the largest on The Block this year, but with their higher reserve price who knows if it’s enough to take out the title.
The previous auction record was set by Omar and Oz in 2022, when they sold for $1,586,666.66 above the reserve.
Auction result:
| Auction | House | Reserve | Sold price | Prize money |
|---|---|---|---|---|
| 1 | House 4: Steph and Gian | $3.35m | $5m | $1.65m |
First auction: Medical episode stops auction
7:57pm
What a start for Steph and Gian! Danny Wallis’ first bid is a knockout, almost more than $650,000 over reserve.
But an emergency stops the auction. Someone had fainted.
Cut to commercial.
Agents are ‘nervous’
7:53pm
With auction orders and reserves now locked in, it’s strategy time.
There’s mostly pessimistic reactions from their selling agents, but some are more positive than others.
Belle are actually happy with Kristy and Brett’s auction reserve and order.
McGrath appear positive as well with Kyle and Leslie who will go fourth.
Will they be smiling afterwards? Time will tell.
Auction order locked in
7:40pm
It’s been an emotional journey to choose the auction order. Steph is overwhelmed and in tears after finding out their auction reserve is 'worse than the worst case’.
However, they eventually agree to go first still.
No one wants to go last, and unfortunately for Leah and Ash, they’ve drawn the short straw.
Here’s the auction order.
- Steph and Gian - House 4
- Eliza and Liberty - House 5
- Kristy and Brett - House 3
- Kyle and Leslie – House 1
- Leah and Ash – House 2
The auction order can play a tactical role in winning The Block, as going earlier can mean more buyers are in the room.
Auction reserves revealed
7:30pm
Winning lots of room reveals may give contestants more money to pour into their renovation, but come auction day the reserve price can level the playing field.
Steph and Gian – who won a whopping five room reveals, scored a $20,000 wardrobe upgrade and took out several other challenges – have the highest reserve at $3.35m.
Steph and Gian have the highest auction reserve.
That’s still less than what producers paid for the unrenovated property in June 2022, when they set a suburb record of $3.5m.
Kyle and Leslie, who won the least amount of rooms, have the lowest reserve price at $2.97m in line with Leah and Ash in House 2.
See the reserves here, as well as what Channel 9 paid to secure the blocks.
| Team | Auction reserve | Price paid for original home |
|---|---|---|
| House 1: Kyle and Leslie | $2.97m | $3m in June 2022 |
| House 2: Leah and Ash | $2.97m | $2.3m in July 2022 |
| House 3: Kristy and Brett | $2.97m | $2.75m in July 2022 |
| House 4: Steph and Gian | $3.35m | $3.5m in June 2022 (suburb record) |
| House 5: Eliza and Liberty | $3.25m | $2.75m in July 2022 |
As always, the contestants feel they’re too high.
Where does this leave us for the auction order?
Auction reserves set, auction order TBC
7:23pm
Scott Cam has taken a diplomatic approach, asking the teams what order they want to go in for the auction.
Scott Cam is letting teams pick their own auction order. Picture: Channel 9
Steph and Gian chose first, and everyone accepted.
Everyone wants second and no one wants to go last. So we're in a gridlock.
To make things (maybe) less complex, teams are allowed to see their reserves in secret.
Judging by their reactions, things aren't looking good.
Auction orders coming up...
7:14pm
Well that was an all singing all dancing opener to the finale as Elvis handed over the much anticipated reserves, and Scott Cam is shaking things up this year and setting the auction order BEFORE revealing reserves.
And we’re off!
7:00pm
The Block’s finale has kicked off! Stay tuned for all the live action as it happens.
How important is the auction order?
6:45pm
It’s almost go-time and the contestants must be feeling nervous.
Whoever gets to pick the auction order will have a strategic advantage as it’s a major factor in determining how many buyers are in the room.
We spoke with some former contestants, who gave some sound advice: “Just try not to go last if possible, do whatever you can!”
Dylan and Jenny learnt that the hard way last season.
Read more: What it's really like at a Block auction
Will Danny Wallis be bidding again?
6:15pm
Multimillionaire Danny Wallis has become a staple at The Block auctions, spending a collective $35m on nine Block homes over the years, including Omar and Oz’s winning Gisborne house in season 18, which he splashed $5,666,666.60 on.
But the Victorian government’s plan to change the land tax payment threshold from January 2024 could throw a spanner in the works.
Mr Wallis has just listed a St Kilda house he purchased off The Block in 2019.
“Land taxes are way too dear and these days you can’t get a decent return,” Mr Wallis said.
How Block home values have performed
5:45pm
Do Block homes make for a good investment?
We’ve taken a look back at how many Block properties have resold at a loss – and the result may surprise you.
Read more: The Block buyer beware: Sales data shows values don't always go up
Could we see some suburb records?
5:15pm
If we don’t, Channel 9 will be facing some hefty losses on the homes.
Producers of the show broke the suburb record for Hampton East after paying $3.5m for Steph and Gian’s House 4 in June 2022, before it was renovated. House 4 is now listed with a price guide of $2.8m-$3m ahead of its auction.
The Block paid a collective $14.3 million in mid-2022 for the five classic brick homes.
The original Block homes on Charming St, Hampton East. Picture: Channel 9
Regular Block bidder and buyer’s advocate Frank Valentic told realestate.com.au contestants could be facing another disastrous auction day unless producers are willing to take a ‘loss’ on the homes and set realistic reserves.
Read more: The Block pumps more money into builds than it makes in sales, creating extraordinary tax hack
Who will win The Block 2023?
4:45pm
House 4’s Steph and Gian are currently clear favourites to win The Block this year after winning the most rooms out of any team.
But there are many factors that can influence the result, such as the auction order, reserve price and whether serial Block purchaser Danny Wallis, or Adrian Portelli – aka Lambo guy – is in the room
Also likely to be bidding tonight on behalf of clients will be buyer’s agents Greville Pabst, Nicole Jacobs, and Frank Valentic.
They’ve revealed who they think will win, and why all five homes may not sell.
Tonight is the night
4.15pm
Welcome to our live coverage of The Block auctions, and before we get under way, let's get some disclaimers out of the way right off the top, realestate.com.au is not a sponsor of, or otherwise affiliated with The Block, but we are here with our popcorn watching on with the rest of the country.
Before The Block auctions begin at 7pm, take a look back on the all the rooms the teams delivered this season.
Read more: Every room reveal of the season
Leslie and Kyle's kitchen. Picture: Channel 9.
Note
realestate.com.au is not a sponsor of, or otherwise affiliated with The Block.
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2023-11-05 09:44:44Z
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