Australia’s second-richest person Harry Triguboff cut $1 million from his original asking price to sell a luxury, two-level Gold Coast holiday penthouse at auction over the weekend for $11 million.

The Meriton boss, who last year said he would slow the pace of apartment development because higher interest rates were making them harder to sell, still made a hefty capital gain on the Silverpoint tower property he and late wife Rhonda acquired in 1990 for $2.6 million.

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