Auction: can two people from the same family bid separately...if...
- Thread starter jerrybee
- Start date
Perhaps to make it look like a legitimate auction for val purposes?
"Oh it was certainly well contested!"
You can register separately and bid separately. No-one will know at that point that you plan to buy jointly.
But as Jacque said, why on earth would you want to drive up the price you ultimately pay? .....are you insane?
"Oh it was certainly well contested!"
surefire reason for a valuer to recreate the market
ta
rolf
Not that silly of an idea, which I see quite often at auctions. One person starts off the bidding and then towards the end of the auction their partner/friend takes over to make it look like a new party is in the running and has only just started. It's not a bad tactic at all.
Ok so it won't be a problem that my wife bids but is *registered* separately? Is there a rule that says only the person that registers can be the one on the contract? So to be clear, you don't have to joint register even if you intend to jointly sign / buy?
Sorry I don't want to publically announce my strategy here on the forum but happy to reply to private messages.
Sorry I don't want to publically announce my strategy here on the forum but happy to reply to private messages.
You don't need to register if you're bidding in Victoria
No problems either that
As long as the highest bidder proceeds then the auctioneer doesn't care
Unless you are using nominee clauses which some agents are ok with some are not
As for keeping your strategy private
You haven't revealed the address or even location
Out of the thousands of auctions, I doubt anyone is going to have any idea what you are up to
Lol yeah but if I described what I'm doing it massively narrows it down! I'll message you later
Lol yeah but if I described what I'm doing it massively narrows it down! I'll message you later
Multiple vendor bidding?
On paper I thibk most people would saythe idea of bidding agains. Your self is a ludicrous idea
In a quiet market I see no point
My guess is that it would work best in a every other market
The only benefit I could thibk is that by creating an impressio. Of beiby hotly contested
I've been guilty of being affected emotionally at an aauction where two people's aaggressive bidding has put me off an made me think I've got no chance
Obviously if your max mid is well below their max bid then it won't matter but if it's a matter of a couple of k then you might get lucky
In a quiet market I see no point
My guess is that it would work best in a every other market
The only benefit I could thibk is that by creating an impressio. Of beiby hotly contested
I've been guilty of being affected emotionally at an aauction where two people's aaggressive bidding has put me off an made me think I've got no chance
Obviously if your max mid is well below their max bid then it won't matter but if it's a matter of a couple of k then you might get lucky
This could be a great strategy particularly if a property is passed in. Assume Party A is related or working with Party B.
If Party A or Party B has the winning bid then great result providing they don?t bid against each other (only against third parties).
If property is passed in and Party A is the underbidder, then Party A will have the opportunity to negotiate with the vendor. Party A would then know the vendor's bottom line and could buy or walk away, depending on Party A/Party B target price.
If Party A walks, then the Vendor will be disappointed and will have twice been 'conditioned' having had an unsuccessful auction as well as not negotiating a post auction sale. The prospect of home opens and a drawn out selling campaign could add to their disappointment.
With the knowledge of the Vendor's bottom line (from Party A), Party B could then approach the Vendor /Agent with an offer below Vendor's previous bottom line.
Could be a reasonable strategy for IP, but unlikely to work for a PPOR unless there is no emotion attached.
If Party A or Party B has the winning bid then great result providing they don?t bid against each other (only against third parties).
If property is passed in and Party A is the underbidder, then Party A will have the opportunity to negotiate with the vendor. Party A would then know the vendor's bottom line and could buy or walk away, depending on Party A/Party B target price.
If Party A walks, then the Vendor will be disappointed and will have twice been 'conditioned' having had an unsuccessful auction as well as not negotiating a post auction sale. The prospect of home opens and a drawn out selling campaign could add to their disappointment.
With the knowledge of the Vendor's bottom line (from Party A), Party B could then approach the Vendor /Agent with an offer below Vendor's previous bottom line.
Could be a reasonable strategy for IP, but unlikely to work for a PPOR unless there is no emotion attached.
These Tactics are quite interesting to read about.
Was at an auction yesterday, One party did not even know what the current bid was and offered 20K under current
Needless to say it was their first and last offer, 50k below reserve.
Blows the mind that people spending under half a million dollars would not at least consider some tactic's or attend a few auctions.
Was at an auction yesterday, One party did not even know what the current bid was and offered 20K under current
Needless to say it was their first and last offer, 50k below reserve.
Blows the mind that people spending under half a million dollars would not at least consider some tactic's or attend a few auctions.
I think people should buy some stuff on eBay before buying property at auction.
You need to experience the loss of an item for a measly $0.50: you bid to a max of $50, somebody else bid $50.50. You need to stop thinking in terms of round figures like $50 and realise that $49 is close enough to $50 and if you're prepared to pay $50 then $51 is close enough too.
You need to REALLY determine the amount at which you wouldn't pay a cent more and still be happy with the purchase if you buy it, but also be happy to let it go if somebody else bids more.
And you need to learn to read the item description to see what it is you're actually getting and take all buying costs into account (especially postage but sometimes foreign exchange rates) to work out whether or not you're getting a good deal, or just trying to "win" the auction for the sake of winning.
You need to experience the loss of an item for a measly $0.50: you bid to a max of $50, somebody else bid $50.50. You need to stop thinking in terms of round figures like $50 and realise that $49 is close enough to $50 and if you're prepared to pay $50 then $51 is close enough too.
You need to REALLY determine the amount at which you wouldn't pay a cent more and still be happy with the purchase if you buy it, but also be happy to let it go if somebody else bids more.
And you need to learn to read the item description to see what it is you're actually getting and take all buying costs into account (especially postage but sometimes foreign exchange rates) to work out whether or not you're getting a good deal, or just trying to "win" the auction for the sake of winning.
