Auction Bidding Tips

  • If at all possible, attend an auction or two beforehand, so you can experience what goes on and get a feel for the process when you are not a buyer. The unknown can create anxiety and fear, so by attending a few auctions as a spectator you will have removed a lot of anxiety
  • It is a requirement in NSW for anyone who is intending to bid at auction to complete a registration form prior to the auction
  • You will need formal identification to register
  • If you are intending to nominate a person to bid on your behalf then the nominated person must also register and identify themselves
  • Following registration you will receive a bidders number which must be clearly displayed when making a bid
  • Position yourself so that you have a good view of the other bidders and most importantly, where you will be seen and heard by the auctioneer
  • Bidding can be made by calling out, a raise of the hand, or any other method you choose, but these bids must be clear to the auctioneer
  • Auctions can be an exciting, but sometimes daunting process. Stay calm; make clear and decisive bids based on your projected budget. Being overwhelmed by the process can lead to over extending your budget or disappointment by missing out on the property you really wanted
  • Don’t be distracted or intimidated by other bidders, particularly those bidding around you
  • Our agents are available to assist you with the auction process should you require help on the day
  • Check in the lead up to the auction what terms and conditions of sale will be and take a copy of the Contract for Sale to your Solicitor or Conveyancer for their perusal. Confirm deposit amounts and settlement periods, and do not be afraid to ask for variations if it will enable you to bid. Your agent will be able to seek approval from the sellers and if you are in early enough they will have plenty of time to consider your request
  • The auctioneer will explain the conditions of sale in regard to the contracts
  • Ensure that you are in a position to sign and exchange the contract should your bid be successful. This will require a full 10% (of the purchase price) deposit
  • Please be aware that under auction conditions, there is no cooling off period