PHOTO: Property buyers were out in force on the Gold Coast at Australia’s largest in-house auction, The Event, which is hosted annually by Ray White Surfers Paradise Group. Photo: Ellen Lutton

Nearly $20 million in property sold under the hammer in just five hours at Australia’s biggest auction event on the Gold Coast on Sunday.

On a picture-perfect hot and sunny day, more than 2000 people turned out to buy and sell and, by 4pm, the ripple of excitement that had kept the atmosphere charged with anticipation, translated to $19 million in sold property.

There was a wide cross-section of real estate on offer, from entry-level apartments to waterfront mansions, and even a multimillion-dollar charter boat.

Andrew Bell, chief executive officer of the Ray White Surfers Paradise Group, was upbeat at the beginning of the day and his positivity was warranted — the RACV Royal Pines Resort venue was bursting at the seams with people, the pace of the auctions was fast and the hammer fell often.