The Block 2024 Auction Day Sees All Homes Sold to One Buyer

Auction Day 2024

 

The Block’s 2024 auction day on Phillip Island delivered an extraordinary outcome that few could have predicted—except for one person. Marty Fox, CEO of WHITEFOX Real Estate and judge on the show, not only foresaw the possibility of a single buyer sweeping up all five homes but also accurately predicted that the team auctioning last would claim the top profit.

His insights proved spot-on, as billionaire Adrian Portelli purchased every property on offer, creating a historic moment in The Block’s history. With record-breaking profits, unexpected twists, and the announcement of Daylesford as the location for next year’s season, here’s a comprehensive recap of the day’s events, key statistics, and what this all means for The Block’s future.

A Record-Breaking Auction Day: The Block’s Unprecedented Sale

In a stunning and strategic move, billionaire Adrian Portelli turned The Block’s 2024 auction day into a historic, single-buyer sweep.

This season featured five meticulously renovated homes on Phillip Island, and Portelli saw the value in acquiring the entire collection. However, in a twist only revealed after the show, it emerged that Portelli had used a buyer’s advocate to secure two of the properties anonymously before openly bidding on the remaining homes himself.

This tactic kept other bidders and contestants unaware of his intentions, allowing him to control the auction process from behind the scenes.

Marty had boldly predicted that one buyer might dominate the auction and that the team auctioning last would benefit most—a forecast that proved remarkably accurate as Portelli’s calculated approach unfolded, reshaping what could have been a competitive day into an extraordinary display of strategic bidding.

Maddy and Charlotte: The Youngest Winners Claim the Top Prize

As Marty predicted, the team auctioning last—Maddy and Charlotte—walked away with the season’s biggest prize. The youngest contestants in The Block’s history, they sold their property, House 1, to Portelli for a staggering $3.5 million, netting them a profit of $1.55 million. In addition, they received the $100,000 grand prize for achieving the highest profit margin, bringing their total earnings to an impressive $1.65 million. Their success was not only a personal victory but also a testament to the importance of strategic positioning and design choices on The Block.

Full Auction Results: Profits, Reserves, and Sale Prices for Each Property

Here’s a breakdown of each home’s sale, reserve, and profit, with Adrian Portelli acquiring each property:

House 1 (Maddy and Charlotte)

•      Sale Price: $3.5 million
•      Reserve: $1.95 million
•      Profit: $1.55 million
•      Total Earnings (with Prize): $1.65 million

House 2 (Courtney and Grant)

•      Sale Price: $3.3 million
•      Reserve: $1.95 million
•      Profit: $1.35 million

House 3 (Ricky and Haydn)

•      Sale Price: $2.75 million
•      Reserve: $2 million
•      Profit: $750,000

House 4 (Kylie and Brad)

•      Sale Price: $2.6 million
•      Reserve: $1.95 million
•      Profit: $650,000

House 5 (Kristian and Mimi)

•      Sale Price: $2.93 million
•      Reserve: $1.9 million
•      Profit: $1.03 million

 

Together, the contestants took home a total of over $5.33 million in profits, not including the $100,000 prize awarded to Maddy and Charlotte. This season set a high bar for future contestants, demonstrating the significant financial rewards achievable as a participant on The Block.

Prize Money and Profits: The Block’s Most Lucrative Season Yet

This year, The Block distributed over $5.33 million in profits to its contestants, making it the most financially rewarding seasons to date. Each team walked away with a substantial profit, highlighting the value of hard work, creativity, and savvy decision-making. Maddy and Charlotte’s $1.65 million in total earnings underscored the potential for life-changing gains on The Block.

For viewers, this season emphasised the show’s core message: with the right blend of innovation, effort, and market insight, contestants can achieve substantial rewards.

The Block 2025: Daylesford Brings Fresh Challenges and New Opportunities

With Adrian Portelli stepping back as a buyer, The Block’s producers face an intriguing new challenge, potentially opening the door to a broader pool of bidders in the future.

The success of the 2024 auction has set a high standard, and producers will be looking to keep the competition fresh and unpredictable. Next year, The Block heads to Daylesford, a picturesque town celebrated for its natural beauty, heritage architecture, and wellness culture. This new location offers fresh design possibilities, promising contestants inspiring challenges and viewers a vibrant new setting to explore.

Daylesford’s unique charm will add appeal, setting the stage for another season of creative design and high-stakes real estate.

As we look ahead to 2025, one thing is certain: The Block’s legacy of unexpected twists, transformative rewards, and thrilling competition is here to stay.