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