Five tips for buying at a busy auction

The auction heat has really turned up across Australia.

Victoria is getting set to have it's busiest auction week ever, while Sydney is consistently posting 80% plus auction clearance rates.

Award-winning auctioneer and director of Marshall White, Marcus Chiminello, shares his top five tips for buying at a busy auction. 

Don’t get to the auction too early (five minutes beforehand is plenty) this will help with nerves.

Bid strongly and respond quickly to your competing bidders.
 

Ensure you set your limit on a odd figure such as $1,207,000 – too many buyers set their limits on even figures such as $1,200,000 and don’t realise they are missing their dream home by very little money in the over all scheme of things.

When bidding, bid with absolute intent and give the crowd the impression you have an unlimited budget and you will own this home in the coming minutes.

If all of this sounds too daunting or nerve racking, employ a professional to do it for you. Melbourne is fortunate to have some of Australia’s best buyers advocates so it may be worthwhile having a chat with them.