He said the Queenstown buyer wished to remain anonymous.
The tennis court section is the second recent Queenstown example where big money has changed hands due to land value, rather than what lies on top of it.
A Brisbane St cottage in central Queenstown, which had been owned by the same family, sold at auction last month for $3m.
The 100sqm cottage at 16 Brisbane St in central Queenstown, though not the waterfront, has three bedrooms, an original coal range, open wood fire and a claw foot bath.
Harcourts agent Simon Hayes said the property dated back to the 1880s.
The sale price was about the land and not the cottage.
The property was in a zone that meant up to three dwellings could be built on the site.
The property was last year valued by QV at $2,630,000.
The sale price worked out about $3000 per square metre, one of the higher sales in the resort in recent times.
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Last year Happiness House, on a 693sqm section on the corner of Park and Brisbane Sts, sold for $2.213 million - that worked out at $3193 per square metre.
Of last Thursday's auction, Mr Hayes said bidding opened at $1.8 million.
"It wasn't fast and furious. It was reasonably solid ... In the end there were two parties that were bidding for it.''
Hayes could not comment on where the buyer lived, but believed, in time, they would likely demolish the home and re-build on the site.
