It would be difficult for the NSW Reconstruction Authority (NSWRA) not to feel happy this morning after last night's first Buyback Auction at the Lismore Heights Bowling Club.

Thirty-three registered bidders were either in the room in person or on the phone with staff from the participating real estate agent, PRD Northern Rivers.

"From the number of viewings here, I think it was a good turnout," said PRD Principal Rob Horder, "The amount of people and their competitive bidding was good."

As is often the case when buying a house, emotion played a part for some buyers. One young couple were disappointed when they missed out on 13 Frank Street, South Lismore, because of what they saw and felt during the viewing. They were going to relocate it to a block of land they were going to purchase.

Another successful bidder was putting a second house on a rural property, while another was an observer on the night so that he could get a feel for the prices paid. He will return for future auctions. One man purchased multiple properties.

Former Trinity Catholic College Deputy Principal Sean Baldwin was the auctioneer for the night, and the purchase prices ranged from $2,300 to $101,000.

There were ten houses available, with photos and a description displayed on a large screen as each property went up for auction.

The first property to go under the hammer was 119 Richmond Street in Woodburn.

Sean Baldwin attempted to get an open bid of $50,000, but that proved to be too steep as everyone in the room was out to grab a bargain. The opening bid was $10,000, which then increased in thousand-dollar and then five hundred dollar increments until it finally sold for $26,000.

The next property, 97-99 Richmond Street, Woodburn, had a few The Block moments when bidding started increasing by $30 and then $1 before selling for $4,153.

15 Rhodes Street, South Lismore, a three-bedroom, one bathroom renovated house, captured the hearts of most of the bidders. Starting at $10,000, multiple bidders continued to increase their offers until it finally sold for $101,000, which was $25,000 above the next highest bid, 12 Molesworth Street, Lismore.

(15 Rhodes Street, South Lismore sold for $101,000)

The range of the rest of the ten homes sold was:

• 13 Frank Street, South Lismore $15,000
• 172 Union Street, South Lismore $7,500
• 5 Coleman Street, Lismore $52,000
• 19 Coleman Street, Lismore $2,500
• 23 Coleman Street, Lismore $13,000
• 14 Cathcart Street, Lismore $2,300

Buyback Auction II is tonight from 5:30pm with another ten properties for sale. These houses are from Kyogle and South Murwillumbah. Registrations are from 5pm.

For those who would like to view the next batch of buyback houses, Wal Murray Real Estate has viewings this week and next for houses in the Lismore CBD and North Lismore. You can check out the houses and the viewing dates and times here.

There is no reserve price, so if there were one bidder who bid $1, that would be accepted.