Why Buy at Auction?
- The purchase is completed in a known timescale
- All bidders are on the same level playing field
- The knowledge that you have only paid a small amount more than the next highest bidder
- A missive is concluded on the fall of the hammer
- Bidding is conducted in a public Auction room. You can see who is bidding and how much
- High volumes of similar stock are offered at the same time, an attraction to investors
- If the reserve price is not achieved all is not lost.
The vendor may be flexible on price after the Auction
providing the sale proceeds on Auction terms
- Occasionally, properties are offered with very competitive guide prices to generate pre-Auction interest. Sometimes bargains are available
- For a useful guide to auction sales and procedures visit www.rics.org