Steve Smith sells his mansion for almost double what paid for it

Cricketer Steve Smith has sold his Vaucluse mansion for $12.38 million, almost double what he paid for the property little more than two years ago.

The Kings Road house went under the hammer on Thursday evening, with competition from two buyers pushing the price well above the $6.6 million that Smith and partner Dani Willis bought the block for in 2020.

The pair has transformed the home in the short time frame, turning it into a far more luxurious residence by McKim Design.

Four parties registered to bid on the four-bedroom, three-bathroom house, and bidding opened with an offer of $11.5 million.

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Auctioneer Damien Cooley, of Cooley Auctions, then asked for minimum bids of $250,000, before adjusting that to $100,000 increases when the crowd held back.

Bidding rose in $100,000 jumps to $12 million, with a family from the north shore and another from the eastern suburbs competing for the keys.

“I can’t sell it at this number,” Cooley told the crowd when bidding stalled at the $12 million mark.

From there the offers climbed in $50,000 jumps to $12.35 million. A final $30,000 raise, after Cooley again knocked back smaller increases, took the bidding to the $12.38 million sale price.