Take two auction frenzy as investors mop up The Block

Patience has yielded $72,000 for the latest contestants to sell on Channel 9 renovation series The Block.

Rod and Tania have sold their Richmond cottage for $922,000, well above the $850,000 reserve that wasn't met at its intense weekend auction.

The couple get to keep any proceeds above the reserve price set by Channel 9.

It sold at an impromptu Jellis Craig onsite auction on Monday evening attended by six parties, with four competing after the bidding opened at $880,000.

Jellis Craig agent Clayton Smith says just one of the interested parties had been at Saturday night's auction, whereas the other five had only seen the property on Monday or Tuesday. 

It was bought by a Melbourne couple as an investment.

The show's winners Polly and Waz secured just $15,000 above their reserve, but also pocketed the $100,000 overall prize.

The sisters Amie and Katrina sold immediately after auction at their $860,000 reserve price.

The Block's dearest offering with a $950,000 reserve was Josh and Jenna's double-fronted property, which the couple sold for $1 million. Woodards agent Ruth Roberts told Property Observer it had been bought by a Melbourne investor who had not attended the Saturday night auction. 

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