First Virtual Reality Home Auction Ends with $1.487m Win

The world’s first virtual reality auction has made history with a $1.487 million sale of a home in Elwood. The cutting-edge technology allowed the vendors to see everything the auctioneer saw, marking a significant advancement in the way homes are sold in Melbourne.

Ray White master auctioneer Greg Brydon led the auction while wearing virtual reality goggles, a move he believes will become a common practice in Melbourne home sales in the near future. The auction attracted a crowd of about 120 people, with the bidding quickly exceeding the asking price and culminating in the successful sale.

The home, a converted church, was eventually sold to a downsizer relocating from Sassafras along with her adult daughter. The emotional moment between the buyers and sellers highlighted the significance of this new technological shift in the real estate market.

While virtual reality technology still has room for improvement, industry experts believe it holds great potential in revolutionizing the auction process. With the rise of online streaming auctions, Melbourne has seen an increase in auction numbers, showcasing the demand for more convenient and accessible ways to conduct real estate transactions.

As virtual reality auctions continue to gain momentum, the future of home sales in Melbourne is sure to be shaped by innovative technologies like never before.