Queensland's $1 town goes under the hammer today
IN an auction unlike any other seen on the Darling Downs, almost an entire town will go under the hammer and potentially sold for just $1 today.
Three quarters of the tiny town of Yelarbon, 190km south-west of Toowoomba, will be auctioned off this morning as part of a deceased estate.
The auction includes eight shops - the bulk of Yelarbon's retail centre - and a home.
True Country Realty auctioneer Jodi Bynon said previously the unprecedented event would put Yelarbon on the map.
"With no reserve if someone comes along and bids for $1, and there are no further bids, it will be sold for $1. It's extremely exciting."
We have been unable to contact Mr Bynon this morning for an update.
With a population of just 448, the pending auction has the Yelarbon's residents buzzing.
Mr Bynon previously said the auction was unlike any he'd seen in his years as an auctioneer in south-east Queensland.
Clearly the auction's uniqueness has captured the imagination of potential buyers, with Mr Bynon reporting an unusual amount of interest.
"We're expecting a big crowd, but with auctions like these you never know who will turn up," he said.
"There have certainly been a lot of parties expressing interest."
The properties were owned by Manny Coe, who was from the Gold Coast and died with no living relatives.
Yelarbon is on the Dumaresq River between Goondiwindi and Inglewood.
The town is on a railway line and during its heyday was a loading station for grain.
The proposed Melbourne to Brisbane Inland Rail project is expected to pass through it.
Kate Bremner has lived in Yelarbon for 40 years and said it was a good place to call home.
"I can't understand why people are complaining about the price of houses when you can buy a nice house in a country town like Yelarbon," she said.
The auction will take place today on-site from 10.30am.