[ad_1]

Channel Nine’s extraordinary profit from The Block is revealed despite two homes failing to sell on auction day

Channel Nine has pocketed a serious profit from this year’s season of The Block, despite two homes passing in at auction and a third barely making reserve.

The network made an estimated $19million profit from the auction, which took place in Gisborne on Saturday and aired on the show on Sunday night.

Nine paid $11million last year for the 28ha plot of land, which was subdivided into seven lots with five assigned to the contestants, reports The Australian.

Nine has pocketed a serious profit from this year's season of The Block, despite two homes passing in at auction and a third just making reserve. (Pictured: Scott Cam and Shelley Craft)

Nine has pocketed a serious profit from this year’s season of The Block, despite two homes passing in at auction and a third just making reserve. (Pictured: Scott Cam and Shelley Craft)

The reserves for each home were over $4million, and host Scott Cam’s own renovation will likely sell at a later date.

It’s believed the network will make $30million when the entire lot is sold.

Omar Slaimankhel and Oz Malik were crowned the winners on Sunday, selling their reno for $5,666,666 and taking home a record-breaking $1.6million in prize money.

The network made an estimated $19million profit from the auction, which took place in Gisborne on Saturday and aired on the show on Sunday night

The network made an estimated $19million profit from the auction, which took place in Gisborne on Saturday and aired on the show on Sunday night 

The western Sydney mates made the largest sum of all five Block houses, far exceeding the $4.08million reserve.

But there was also heartache for two couples, Ankur and Sharon, and Dylan and Jenny, who failed to sell their homes at auction.

Their properties were passed in when they failed to attract a bidder over the $4.08million reserve, with both attracting a highest bid of $4,075,000.

Omar Slaimankhel and Oz Malik (pictured) were crowned the winners on Sunday, selling their reno for $5,666,666 and taking home a record-breaking $1.6million in prize money

Omar Slaimankhel and Oz Malik (pictured) were crowned the winners on Sunday, selling their reno for $5,666,666 and taking home a record-breaking $1.6million in prize money 

The couples continued to negotiate with their highest bidders after filming.

It’s the first time a Block property has failed to sell at auction since season four in 2011 when two teams’ homes were passed in.

Tom and Sarah-Jane didn’t fare much better, with their Macedon Ranges home selling for a profit of just $20,000.

There was also heartache for two couples, Ankur and Sharon, and Dylan and Jenny (pictured), who failed to sell their homes at auction

There was also heartache for two couples, Ankur and Sharon, and Dylan and Jenny (pictured), who failed to sell their homes at auction 

Advertisement

[ad_2]

Source link