If you’ve ever felt the adrenaline rush of a Saturday auction, you know it pays to arrive armed with auction bidding strategies that keep emotions in check and dummy bids at bay. Below you’ll find a step-by-step playbook from Trish Moore, Buyers Advocate at Hidden Gems Property Scouts and head of BIR Finance’s Property Concierge—a free resource for our clients nationwide.
Homework Beats Hype
Dummy bids and crowd buzz can push numbers sky-high, but solid research trumps theatrics every time. Dive into recent comparable sales within a two-kilometre radius and no older than three months. Back that up with an independent valuation or a buyer-advocate report to test the agent’s price guide.
Pinpoint the True Market Value
Algorithms and “price hopes” can mislead. Cross-check with data from CoreLogic, Pricefinder or your buyers advocate to narrow the true value band. Knowing what similar homes actually sold for gives you a hard reference point when bidding heats up.
Draw Your Line in the Sand
Before auction day, decide on an absolute maximum bid—write it down and keep it in your pocket. Seeing that figure in black and white helps you walk away when excitement tries to empty your wallet.
Do the Legwork Early
Legals: Have your solicitor review the contract and Section 32 well ahead of time.
Inspections: Arrange building and pest checks so hidden nasties don’t derail things later.
Finance: Pre-approved funds mean you bid with confidence, not crossed fingers.
Understand the Rules
In Victoria you don’t register to bid, so you won’t know every face in the crowd. Auctioneers can make vendor bids, but they must announce them clearly—stay calm when you hear one. Dummy bidding by others is illegal; if you suspect it, note the details and report it to Consumer Affairs Victoria after the event.
Auction-Day Tactics
Arrive early, read the body language and project confidence—hesitation invites competition.
Lead with a strong opening bid to set the pace, then drop to smaller increments as you near your ceiling.
If the property passes in, the highest bidder earns first negotiation rights—have a plan ready for that conversation.
Bring in Backup (It’s Often Free)
A buyers advocate removes emotion, calls out shady tactics and negotiates hard once the hammer falls. Better still, advocates like Trish often sniff out off-market opportunities long before they hit the portals. Agents love them because they represent genuine, ready buyers—speed often matters more to agents than squeezing every last dollar.
The Bottom Line
Research, a rock-solid ceiling price and nerves of steel beat dummy bids every time. Do your prep, trust your limit and you’ll never pay more than the property is truly worth.
Book a Free Strategy Session
Keen for tailored advice? BIR Finance clients enjoy a complimentary one-on-one with Trish Moore. Tap into her experience, sharpen your strategy and secure the right home at the right price.
Organise a chat with Trish—simply email Michael at BIR Finance and we’ll set it up.
