Australasia’s largest real estate group, Ray White, expects to sell millions of dollars worth of property in one morning when it launches its latest trans-Tasman Auction Spectacular in Melbourne on Sunday.

Ray White Victoria General Manager, Marcus Williams, said the Auction Spectacular would be held by the Ray White group from June 21-July 1 at locations throughout Australia and New Zealand.

Mr Williams said more than 700 properties went under the hammer at the last series of super auctions in March this year, helping the Ray White group achieve record monthly sales of $2.37 billion.

“For our first time hosting an Auction Spectacular we had tremendous success with sales of more than $9 million generated from the Melbourne event,” Mr Williams said.

“We had several properties sell 25 per cent above the reserve in the sub $500,000 range, which was a terrific result for our vendors.”

Mr Williams said Melbourne would be staging only its second mega auction event at the Sofitel on Collins at 10am Sunday.

He said in-room auctions in the Melbourne CBD were rare with Ray White the only real estate group to hold them in Victoria.

“They have been very popular in New South Wales and Queensland for many years and you find that they attract genuine buyers rather than a majority of curious neighbours who attend on-site auctions,” Mr Williams said.

“Holding in-room auctions means you also don’t have to cope with the cold winds and rain - very beneficial at this time of the year.”

Ray White Chief Auctioneer Phil Parker said there was keen bidding at the last Melbourne auction event, which attracted more than 500 people.

“We held the last auction on a weekday and this time it is on a Sunday. We are expecting some pretty big numbers this time,” he said.

Mr Parker said all bidders at the last Melbourne auction were registered despite Victoria not requiring bidders at auctions to register.

“We think it is important that all buyers know other bidders are genuine and we plan to implement that policy again on June 21 even though we are not legally required to do so,” he said.

Mr Parker said around 20 properties had been listed for sale on Sunday from all over Victoria, including a Queen Anne style residence with a tennis court in the prestigious Melbourne suburb of Park Orchards.

He said the auction environment was highly effective because of the competition among genuine buyers and sense of urgency, and the atmosphere was even more fever-pitched at an Auction Spectacular.

“Buyers and vendors get a real sense and appreciation of the state of the market,” he said.

Mr Parker said well-marketed properties presented at auction sell as much as 30 per cent faster than those sold through a private sale.

“The auction process attracts genuine buyers and no other real estate network in Australia offers more property for auction at any time than Ray White,” he said.

Brisbane-based Mr Parker said mega auctions put more pressure on the auctioneer to remain focused throughout the event.

“You have to maintain your energy levels for a few hours at a time,” he said.