Handling Vendor Bids at Auction

[marks]

Hi,

Does anyone have some ways of handling vendor bids at Auction.
In Qld the Auctioneer can (and does) vendor bid up to the reserve price.
Not only is it annoying and pushing the price up without competition, I've seen bidders get in competition with the vendor's bid! I presume it is so the bidder can be the highest bidder as to negotiate with the vendor when it is passed in.
Also, REAs then tell prospective buyers it was passed in at an inflated price.

Any advice?
I've been told you can make a bid at the same level as the vendor bid. The auctioneer is then in a position to take your bid or the VB. (as if two people bidding at the same time) As an attempt to slow the bidding down.
But the auctioneer could just bid another VB again.

Thoughts?

Mark.

 

[Ed Barton]

Hi,
I've seen bidders get in competition with the vendor's bid! I presume it is so the bidder can be the highest bidder as to negotiate with the vendor when it is passed in.

I'd imagine if it's passed in on VB then they will start negotiations with the highest natural bidder.

 

[devank]

I guess RE agent does this so that records look better. On record, VB would be shown as passed in without any indication that it is a VB. Whoever comes after that may think that someone else was prepared to pay that amount!