What's the best auction strategy?
In this video series I answer your questions and this week watch I discuss my strategy to bidding at auction.
This week’s question:
Hi Michael - I’m looking to buy a property at auction and wanted to know the best bidding strategy.
- Also read:Latest property price forecasts for 2024 revealed. What’s ahead in our housing markets in the next year or two?
- Also read:Here’s how to avoid these 12 common reasons property investors fail to build a Multi Million Dollar Property Portfolio
- Also read:Sydney property market forecast for 2024
- Also read:Boom to bust: What makes property prices rise and fall
- Also read:This week’s Australian Property Market Update – Latest Data, State by State November 28th, 2023
I’ve heard conflicting idea, some say I that should bid contently from the start and make a high opening bid – But I’d rather wait to see until the property is “on the market” and then commence bidding rather than pushing the price up.
What are your thoughts? - Elise, Hawthorn
Please leave your question in the comments section below and we’ll answer it.