Thursday, June 13, 2024
6.3 C
Kilmore
- Advertisement -

Bidding at auction

Popular Stories

The North Central Review
The North Central Reviewhttps://ncreview.com.au/
The North Central Review is an independently owned newspaper publishing company based in Kilmore that is responsible for publishing two community newspapers each week, covering communities within the Mitchell Shire

AUCTIONEERS have different ways of conducting an auction. Generally, they aim to encourage as many bidders as possible to compete, to achieve the highest possible price.

The auctioneer can set the amount by which bids increase. These are called rises or bidding advances.
You can bid at the amount stated by the auctioneer or offer an alternative amount. The auctioneer may choose to accept or reject that bid.

Be clear about your bidding limit. To bid successfully bid confidently, ask relevant questions of the auctioneer, including who made a bid.

Generally, the amount the bidding advances will decrease as the auction draws to a close. The auctioneer may refuse a bid at any time during the auction, including when the auction hammer is falling. If there is a dispute over a bid, resume the auction at the last undisputed bid or start the bidding again. Refer a bid to the seller at any time before the conclusion of the auction withdraw the property from sale at any time.

Previous article
Next article
- Advertisement -
- Advertisement Mbl -

Related Articles

- Advertisement -

Latest Articles