It has five bedrooms and seven bathrooms.“There were three registered bidders there and it was sold to a local buyer.“They’re going to move in.”The prominent property has five bedrooms and seven bathrooms with a pool, spa and cabana outside.There is also a separate guesthouse, boat house and jetty.Mr Paradise said the prestige market had been revitalised in recent weeks.“The prestige market is going from strength to strength,” he said.“In the prestige areas, I think there’s been more and more buyers after the election and more confidence out there.” There have been several failed attempts to sell the property over the past four years.It was built for property veteran and former councillor Max Christmas in the 1980s by Soheil Abedian, who co-founded development company Sunland Group.More from news02:37International architect Desmond Brooks selling luxury beach villa11 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoProperty records show it has been listed on the market several times in the past four years, at one point with a $9.85 million price tag.Ray White Prestige Gold Coast agent Jackson Paradise relisted the residence a month ago in a renewed push to sell it.“We just changed the (marketing) strategy and it worked,” he said. MORE NEWS: Buyer wastes no time snapping up waterfront home Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:44Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:44 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p288p288p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow to bid at auction for your dream home? 01:45 MORE NEWS: Unusual feature sells house A local buyer snapped up the sprawling residence. The mansion at 79-81 Commodore Drive, Paradise Waters, has sold for $5.3 million.A WATERFRONT mega-mansion that was once home to Gold Coast property kingpin Max Christmas has sold under the hammer – four years after it initially hit the market.Local buyers snapped up the Paradise Waters property on Commodore Drive for $5.3 million at Ray White Surfers Paradise Group’s mid year auction event on Thursday.The sale, which follows several failed attempts over the years, has resulted in a hefty profit for sellers Peter and Lisa Le Fanue, who paid $2.15 million for it 21 years ago. It was built for Gold Coast real estate pioneer Max Christmas in the 1980s.