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Five tips for buying at a busy auction

The auction heat has really turned up across Australia.

Victoria is getting set to have it's busiest auction week ever, while Sydney is consistently posting 80% plus auction clearance rates.

Award-winning auctioneer and director of Marshall White, Marcus Chiminello, shares his top five tips for buying at a busy auction. 

number-1Don’t get to the auction too early (five minutes beforehand is plenty) this will help with nerves.

number-2

Bid strongly and respond quickly to your competing bidders.
 

number-3Ensure you set your limit on a odd figure such as $1,207,000 – too many buyers set their limits on even figures such as $1,200,000 and don’t realise they are missing their dream home by very little money in the over all scheme of things.

number-4When bidding, bid with absolute intent and give the crowd the impression you have an unlimited budget and you will own this home in the coming minutes.

number-5 If all of this sounds too daunting or nerve racking, employ a professional to do it for you. Melbourne is fortunate to have some of Australia’s best buyers advocates so it may be worthwhile having a chat with them.

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