BYRON Bay celebrity hideaway Rae's at Wategos has changed hands for a staggering price, selling for more than $21 million ahead of an auction today.

The final sales figure was not disclosed. However, it was understood the vendor had turned down offers of $16 million and $21 million before accepting the final offer.

More than 80 people had gathered at Rae's on Wategos for the 2pm auction of the iconic hotel this afternoon when auctioneer Andrew Bell announced at 2.30pm that the owner, Vincent Rae, had accepted an offer so the auction would not be proceeding. 

Close to 100 people attended this afternoon's auction on site in Byron Bay as the iconic resort went under the hammer.
Close to 100 people attended this afternoon's auction on site in Byron Bay as the iconic resort went under the hammer.


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