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I think it is time they cleaned up their auction act in Victoria. I believe (happy to stand corrected) that there is no limit to the number of vendor bids that the auctioneer can make....gee you don't even have to register to bid. In NSW the auctioneer can make only ONE vendor bid and if he...

Whenever you miss out on something you really wanted, I find (by experience), there is always something better just around the corner. ;)

If this whole thing has only taught you this one thing - it will be worth it for the rest of your investing life :)

Yeah, unfortunately there is no 'legal' about it. It is just one of those silly rules that REAs make up about the highest bidder being able to negotiate with the vendor, first. Bottom line is, after the auction he can sell to whomever he likes. He did not like you, so he did not sell to you. :(...