How to Bid
Preparation is key
- Make sure that the Auctioneer can see you. Ideally, you should hold up your bidder number and call out your bid in a clear audible voice. This will be provided upon entry to Auction once registration is complete.
- You can call out an exact amount – e.g. "$260,000" or indicate the amount you wish to increase the previous bid by the increment suggested by the Auctioneer – e.g “Another $10,000”.
- If the Auctioneer calls the incorrect amount or misinterprets your bid – call out to the auctioneer and clarify the bid with them immediately.
Need more information?
The Office of Fair Trading can provide you with more information on the laws that apply to property auctions. You can contact them on 3246 1523 or check out their website on www.fairtrading.qld.gov.au
Source: Real Estate Institute of Queensland. (2015). A Bidder's Guide for Residential Property in Queensland. REIQ. Brisbane: The Real Estate Insitute of Queensland Ltd.