A gold nugget weighing more than 3.5 kilograms found near Ballarat was sold for 29.28 yuan in an auction in Melbourne.
In 2012, three men discovered the gold nugget while probing along a road at an unannounced location near Ballarat.
This piece of gold called Destiny is the size of two fists and weighs 3.663 kilograms.
Mossgreen's auctioneer Harry Glenn said that the first impression it leaves you is its weight.
"When you put it in your hand, you will be surprised. It feels like a hole in the floor," he said.
These men discovered it with a metal detector, and it is located underground only 15 cm from the ground.
But this wonderful discovery almost didn't happen.
"It was pouring rain, and they planned to call it a day." He said.
"But luckily the rain stopped for a while, they left the car and the first thing they found was it."
This gold nugget was once displayed at the Sovereign Hills Gold Museum in Ballarat, and the staff gave it a price of 50.
Since then, the price of gold has been falling, but Glenn expects the auction price to be between 25 and 45.
"There is not much gold left for such a large piece," he said.
"This is the biggest piece of gold on the market in some time."
Victoria is famous for producing gold, especially near Ballarat, which was the center of the Victorian gold rush in the 1850s.
The Welcome Stranger, the world's largest known gold nugget, was discovered in Moliagul, northwest of Melbourne in 1869, weighing 65.3 kg.
The largest gold nugget discovered in the 20th century is the Hand of Faith, which was discovered in Kingower in 1980 and weighs 24.6 kg.
The location where Destiny was discovered is still a secret, but many gold prospectors have come to Ballarat to try their luck.