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How to win at auctions

Discussion in 'Real Estate' started by Jacque, 30th Mar, 2006.

  1. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Interesting article in a recent SMH about winning at auctions, and the issues to be aware of so that you don't lose control.

    Part of the article:

    By using the right strategies, buyers can win big time at auction.

    Auctions, especially on-site, were once considered Sydney's best live theatre - neighbours could watch hopeful buyers bid for the honour of paying record high prices during Sydney's biggest property boom.

    A depressed housing market, record low clearance rates and more transparent auction rules, however, have turned things around and now buyers are increasingly the big winners in the live action.

    You can read the rest here: http://www.domain.com.au/Public/Article.aspx?id=1143083961242&index=NationalIndex

    Interesting to note that there's a few conflicting opinions, even amongst buyers' agents, about the best tactics to employ. My two cents: each auction has different circumstances and you need to work out strategy based on the knowledge you have available accordingly.