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You're missing the point. If it SELLS above the advertised price, then someone was obviously willing to pay that amount. If you get two people who really want it at auction and they bid it up, then great! The issue I have is where it's advertised for a price, yet the vendor won't accept an...

I realise there are differences between Victoria and the rest of Australia, but it shouldn't be part of the 'game'. If a second hand car dealer had a car on sale advertised 'from $19,500', yet wouldn't accept an offer of $22,000, would this be acceptable? Yet we accept it as part of the...

That's all well and good, but I think you have missed the point. If it is advertised at $550 - $600, then the reserve should be in that range. Otherwise it's false advertising. Simple.

I agree Aaron, the vendor can ask for whatever they want. But they shouldn't advertise it for $550k - $600k if they know they want at least $650k.