5719 Anchorage Terrace Sanctuary Cove
A waterfront mansion owned by the wife of a bankrupt businessman was the top sale at an auction event racking up $105 million under the hammer.
The Sanctuary Cove trophy home sold for $13m, two years after it was purchased under a company name linked to Maxine Hickmann, whose partner Aaron Hickmann was CEO of South Australian lighting company Vailo.
Vailo became naming rights sponsor for Adelaide’s Supercars event in 2022, but by late 2025 was at the centre of investigations by liquidators.
Aaron Hickmann and his wife Maxine Hickmann. Picture: Supplied/Facebook
Mr Hickmann was declared bankrupt in April last year, while a statement of affairs prepared by the embattled entrepreneur reportedly claimed he had no bank accounts, owned no property, car, super, shares, bitcoin or expensive jewellery.
The couple moved to Queensland in 2023, splashing $12.11m on the flashy property held under company name, Monari One, records show.
The Gold Coast Bulletin then reported Mr Hickmann, who had previously sponsored sporting teams including the Adelaide Crows and Hawthorn AFL clubs, sought to relocate Vailo’s manufacturing facility from Adelaide to Yatala
Bankrupt Vailo founder Aaron Hickmann in Adelaide. Picture: Brett Hartwig.
Ray White agent Matt Gates marketed the five-bedroom, five-bathroom home at 5719 Anchorage Terrace.
It was part of the agency’s annual auction showcase, The Event, but sold ahead of going under the hammer.
Designed by architect Bayden Goddan, the Palm Springs-inspired home on a 1,995 sqm parcel had luxury features including a basement wine club housing 2000 bottles, heated infinity-edge pool, riverside firepit lounge, executive office, gym, boat shed and 30m pontoon for mooring a superyacht.
Inside the luxury home
Features include a basement wine cellar
The Event, hosted by Ray White Bell Group, Sanctuary Cove, Alliance and RWC Gold Coast, comprised 101 properties sold for a total value of $105m, with a third of those changing hands prior.
Listings ranged from vacant land to prestige homes, one-bedroom units to brand-new penthouses, plus an array of commercial properties.
It has expansive waterfront entertaining areas
The home’s pontoon for mooring a superyacht
Clearance rates sat at 84 per cent by the day’s end, with an average sale price across all properties of $1,039,604.
Ray White Bell Group chair Andrew Bell said the results were a litmus test for the Gold Coast property market through 2026.
“The message in [the] room today was pretty clear — if you get properties, price them correctly, you can expect to sell,” Mr Bell said.
“There were some periods of very aggressive bidding.
“I think a lot of people have accepted they’re going to be in debt, but that’s preferable to living in uncertainty [in] rental accommodation, unsure whether landlords are going to sell their property.”
Matt Gates at The Event 2026. Picture: Celeste Humphrey.
Entry-level buyers included Jacki Colman, who ended her months-long search with a bid of $495,000 for a Nerang unit.
The single mother had been renting a home with her 13-year-old daughter while working two jobs.
“I didn’t sleep last night,” Ms Colman said.
“Going to open homes now, you see the increase of people looking when you see how many inspections there are…there’s a lot of competition.”
Buyer Jacki Colman with her father Bruce Colman. Picture: Celeste Humphrey.
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Seasoned investors Colin Smith and May Traill paid $820,000 for a Labrador apartment which attracted five bidders, and said they preferred the transparent nature of auctions to other methods of sale.
Mr Smith said Labrador held value as a market that had not yet reached its peak.
“Having missed out on six properties, and not having opportunity to negotiate, has meant this is a really effective way to buy at the moment. We might buy another piece of stock, we will see,” he said.
Investors May Traill and Colin Smith bought a Labrador unit. Picture: Celeste Humphrey.
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