REINSW Auctioneers Chapter Committee member and 2018 Communication Award finalist, James Pratt, is set to make history on Monday, 8 April 2019 when he becomes the first auctioneer in the world to conduct a live cryptocurrency real estate auction. The auction will also be a major milestone for Australia when it becomes the first country to be involved in live auctioneer auction with cryptocurrency.
Pratt, Founder and CEO of James Pratt Auctions Group, was asked to collaborate with international heavyweight blockchain corporation, NuYen, and cryptocurrency giants, Binance, to offer interested bidders the opportunity to purchase a luxury beachfront mansion exclusively using cryptocurrency – namely Bitcoin (BTC) or Binance Coin (BNB). The auction will be live-streamed and the use of Bitcoin or Binance Coin will effectively create a borderless payment system.
The property, located at 1 Beech Lane, Casuarina on the NSW North Coast, has been dubbed “the Jetsons house” because of its futuristic style and spaceship-like design, and comes with a price guide of 700–800 bitcoins, equivalent to AU$3.5 million.
Local listing agent, Nick Witheriff of LJ Hooker Kingscliff, says the response from international buyers has been enormous in the lead up to the auction.
"It’s been non-stop with enquirers from buyers across the world, from Asia to USA and China," he says.
The property
According to its realestate.com.au listing, the property is a stunning beachfront residence featuring futuristic-style defined by geometric shapes and bold use of glass, concrete and steel.
The 412m2 home is on an 841m2 north-facing block with 70 metres of automatic windows on the top level to enjoy uninterrupted views of the ocean. With Smeg appliances, a soccer pitch, 25 metre heated lap pool, outdoor shower, in-ground trampoline and covered alfresco entertaining terrace, the property lives up to its multi-million dollar price tag.