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My thoughts exactly. People just go stupid at auction. The only time I've had success at auction was when it was a mortgagee auction, and it was a while ago when everyone was saying the property market was going to keep falling and no one wanted to buy. Purchased at Auction for $370k...

A while ago there was an extremely bad condition workers cottage in the valley for sale next to a train line with marks in the hallway from where the previous owner had died and sat there for a while, termite damage in the house, toilet in the backyard with a dirt floor, etc... So a lovely...