Buying at Auction? Here Are 4 Things Buyers should know before Auction Day

Auctions can feel intimidating, especially if it’s your first time.

So before every auction, our team makes sure buyers clearly understand these four critical things (because confidence changes outcomes):

No Vendor Bids at a Barfoot & Thompson Auction. Bid With Confidence

At our auctions:

• There are no vendor bids
• Every bid you hear is from a real buyer
• No artificial price inflation

Translation: you’re competing with people, not the auctioneer.

Bid. Don’t “Not Bid.”

If nobody bids and the property passes in:

• You lose the auction advantage
• Negotiations start behind closed doors
• You may suddenly find yourself in a post-auction multi-offer

Translation: staying silent can actually create more competition.

Highest Bidder Has No Exclusive Right After a Pass-In

This surprises many buyers.

If a property passes in:

• The highest bidder does not automatically control negotiations
• Anyone can step in - including conditional buyers
• The vendor may negotiate with multiple parties at once

Translation: being highest on the day doesn’t protect you. Be aware.

Bid Aggressively (But Within Your Limit)

Our advice is simple:

• Never bid beyond what you can afford
• But when you reach your limit, make it a surprise

Strong, confident bidding:

• Signals intent
• Shakes hesitant competitors
• Often shortens auctions and reduces emotional bidding wars

Translation: clarity beats caution in the auction room.

Buying property is one of the biggest financial decisions you’ll ever make.

Understanding the process gives you power.

If you’d like help preparing for an upcoming auction, or just want to talk strategy, we’re always happy to help.