Bidding at an auction can be a stressful experience, especially for first-timers. Fast-paced, competitive, and emotionally charged, it’s not surprising that many buyers find auction day overwhelming.
We’ve helped hundreds of clients successfully purchase properties at auction, and we know what works. Whether you’re feeling anxious or just want to sharpen your strategy, this guide offers practical tips to help you prepare, stay composed, and bid with confidence.
And remember, if another buyer has a significantly bigger budget, no strategy will beat pure spending power. But if it’s a close race, the right approach could give you the winning edge, without paying more than you need to.
Before Auction Day
1. Attend Local Open Homes and Auctions
- Get to know the market by inspecting properties and attending as many open homes as possible.
- Ask agents about recent sales and research those properties online.
- Attend auctions of properties you’ve viewed to compare price guides with final sale prices.
- Watch how auctioneers and agents operate and observe bidder behaviour. The more familiar you are with the process, the less stressful it will feel on the day.
2. Do Your Pricing Research
- Understand the true market value of the property.
- Look at comparable sales in the area—recent and relevant.
- Review auction results weekly on sites like Domain and Realestate.
- Understanding the market can help you determine when an agent is underquoting.
Still unsure? Ask us for a professional Property Appraisal to avoid overpaying or chasing a property above your budget.
3. Complete Your Due Diligence
- Have a solicitor or conveyancer review the Contract of Sale.
- Ensure any changes to contract terms are agreed upon in writing before auction day.
- Book a building and pest inspection (and a strata inspection for apartments). Review the reports and ask questions where necessary.
- Confirm with your lender in writing that your finance is unconditionally approved.
- Be ready to pay the deposit—typically 10%—immediately upon winning the auction (unless otherwise arranged).
4. Plan Your Auction Strategy
- Set your absolute maximum limit and stick to it.
- Consider your bidding approach.
- Expect pressure. Auctioneers are skilled at drawing out extra bids, so decide in advance how you’ll respond.
On Auction Day
1. Dress the Part
Confidence counts. Dressing neatly or in business attire can help you feel more self-assured, and may give the impression to others that you’re a serious contender with a healthy budget.
2. Arrive Early & Register to Bid
- Give yourself plenty of time. Don’t add more stress to what is an already stressful situation.
- Bring valid photo ID to register
- Watch the registration table to gauge how many are registering. This will help you assess the competition.
- Observe the crowd.
3. Choose Your Position
- Stand where you can clearly see the auctioneer and other bidders, and where they can see you.
- Avoid hiding at the back of the crowd or behind others.
4. Bid with Confidence
- Speak clearly and use full numbers. Instead of “9-50,” say “Nine hundred and fifty thousand dollars.” It sounds stronger and more decisive.
- Respond quickly and with confidence when the bidding is against you.
- Control your body language. Avoid showing hesitation or conferring constantly as others will sense you’re reaching your limit.
- Watch the body language of your competition. This can often tell you if they are close to their limit.
- Act confident, even if you’re not. Appear as though you have more money left in the tank than you actually do. Sometimes, perception alone can cause others to bow out.
When a Property Passes In
If bidding doesn’t reach the reserve, and you’re the highest bidder, don’t be pressured into bidding against yourself. Instead, let the property pass in.
As the highest bidder, you’ll have the first right to negotiate with the agent. This can often result in a better outcome than continuing the bidding publicly.
Need Support on Auction Day?
If the idea of bidding still makes you uneasy, you’re not alone. Many buyers prefer to leave it to the professionals.
We offer a tailored Auction Bidding Service, designed to give you the best chance of securing your ideal property while removing the stress and emotion from the equation.
Talk to us if you’d like expert representation on auction day.
