1. Attend Local Auctions to Understand the Process

Before you bid at a property auction, spend time attending auctions in the same area. This helps you get familiar with the auction environment, the pace of bidding, and the terminology auctioneers commonly use. Observing local auctions also gives you insight into buyer demand, price expectations, and how competitive the market is.

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2. Look for Clues to Uncover the Reserve Price

During an auction, you may hear the auctioneer announce the property is “on the market,” meaning the reserve price has been met. To better understand where the reserve might sit, watch the auctioneer’s behaviour closely.
They may:

• Reject low opening bids

• Push for larger bid increments (e.g., $50k instead of $10k)

• Become more flexible and accept smaller bids as the reserve approaches
  Understanding these signals can help you adjust your strategy in real time.

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3. Set Clear Budget Limits and Stick to Them

Before auction day, understand exactly how much you can afford to spend. Set two limits:

• Your ideal maximum price based on market research

• Your absolute walk-away price, which includes how much extra—if any—you’re comfortable paying
  Sticking to your limits will prevent emotional bidding and help you avoid overpaying for the property.

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4. Slow the Auction Pace with Smart Bidding

Use bidding strategies that disrupt the rhythm of the auction. You can:

• Make smaller incremental bids

• Bid in irregular amounts (e.g., $802,500 instead of $800,000)
  These tactics can slow down momentum, unsettle other buyers, and give you a psychological advantage.

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5. Consider Last-Minute or Late Bidding

Some buyers prefer to hold back and place bids only in the final stages of the auction. This strategy can catch competitors off guard and reduce early pressure. Even if you wait until the end, be prepared to place a few strategic bids to stay in the running.

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6. Monitor Other Bidders’ Behaviour

Pay close attention to your competition. Signs like hesitation, slower bidding, or discussions with a partner may indicate they’re reaching their limit. Understanding these cues can help you decide when to push forward or hold back.

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7. Use Confident Body Language

Confidence can influence both the auctioneer and other bidders. Stand tall, keep calm, make clear eye contact, and avoid showing uncertainty. Strong body language signals that you’re serious and prepared—often discouraging less confident bidders.

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8. Be Ready to Walk Away

Not every auction will go your way. If the price rises beyond your limit or exceeds the property’s value, be prepared to walk away. Protecting your budget is more important than winning an auction at any cost.​

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