Collingwood has gone down by a single-point to Brisbane at Marvel Stadium on Thursday night.
With his team trailing by five points and the clock winding down, Bailey marked a deftly weighted Daniel Rich kick 50m from goal.
The young midfielder moved in as the siren sounded and flushed the kick straight between the posts to lift the Lions to a 11.7 (73) to 11.6 (72) victory.
"It's an amazing feeling," Bailey told Fox Footy after the match.
"It (the kick) felt really good. There was a lot of pressure obviously and I was just glad I was able to put it through."
Bailey was the man at the centre of the Mark Blicavs non-decision last Friday night when Brisbane lost a heartbreaker to Geelong by one point.
He made sure he was the hero this time.
Bailey's kick finished a turbulent week for the Lions that saw them remain in Melbourne after a COVID-19 lockdown in Brisbane.
They led for only three minutes all night – in the first quarter – as Collingwood dominated for long stretches.
The Magpies led by 25 points in the second quarter and even after Brisbane clawed back, it jumped to a 15-point buffer early in the last before giving it up.
The pressure from both teams was immense all night.
Hugh McCluggage (28 disposals) was magnificent for the victors, while Jarryd Lyons (29) and Rich (28) also had big fourth-quarter involvements.
Collingwood will rue not putting the match away earlier, with Brodie Grundy dominant in the ruck, skipper Scott Pendlebury his usual slick self and Isaac Quaynor a ball of energy off half-back.
Two speccies in 10 seconds
It was a night full of highlights, but it was hard to top the 'double speccie' in the third quarter from Joe Daniher and Charlie Cameron. Daniher flew high at half-forward to soar over Jordan Roughead before pumping the ball long – we're talking 70m – to the top of the goalsquare. It gave Cameron time to double back and take a ride on the man usually doing the climbing, Jeremy Howe, to pull down a terrific grab. He kicked the goal to ice the cake.
The Brodie Grundy effect
Following Oscar McInerney's withdrawal due to an ankle injury, the Collingwood ruckman was always going to be a handful against Lions youngsters Tom Fullarton and Connor Ballenden. Grundy was a physical brute. Not only were 23 of his whopping 54 hitouts to advantage, but Grundy gathered 28 disposals and set up a goal for Jordan de Goey with hard running and a delightful left foot pass. Brisbane kept the clearances in check (30-35), but Grundy could have done no more for the Magpies.
Robinson lift the Lions
Brisbane hard man Mitch Robinson has had a quiet opening fortnight, but the veteran wingman took it upon himself to inspire the Lions. With his team trailing heavily in the second quarter, Robinson began throwing his body around, crashing packs, gathering possessions and almost single-handedly lifting his team's intensity. It worked. He finished with 23 touches and eight marks and set up a goal for Hugh McCluggage to be a major reason in Brisbane's comeback.
COLLINGWOOD 4.2 7.3 9.5 11.6 (72)
BRISBANE 2.1 6.1 8.3 11.7 (73)
GOALS
Collingwood: Mihocek 2, Cox 2, Daicos 2, De Goey, Howe, Sidebottom, Sier, Thomas
Brisbane: Daniher 3, Cameron 2, Bailey, Berry, Hipwood, McCluggage, Rich
BEST
Collingwood: Grundy, Quaynor, Pendlebury, Howe, Sidebottom, Adams
Brisbane: McCluggage, Rich, Robinson, Lyons, Adams, Zorko
INJURIES
Collingwood: Nil
Brisbane: Nil
SUBSTITUTES
Collingwood: McCreery (unused)
Brisbane: Prior (unused)
Crowd: TBC at Marvel Stadium