No reserve auctions might be rare but when one comes onto the market they can create a buyer frenzy — and break records.

And if luck is on your side, theoretically, you could snap up a home for as little as $1.

Ray White Collective principal and auctioneer Haesley Cush said no reserve auctions were a bit like the grand final for the property market.

“I’ve only called four others (no reserve auctions) among the other 30,000 auctions and each one is memorable,” he said.

“There is no reserve. The property will sell to the highest bidder.

“So if you bid $100 and no one else bids, then you buy it.”

Ray White Clayfield agent and former NRL star Nick Kouparitsas is marketing 316 Buckland Road at Nundah , with the property to go under the hammer with no reserve price at the Ray White aucti

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