If you have never bid at Auction before you may have concerns. The first thing is to dispel the urban legend that you will end up purchasing a property because you have waved at a friend entering the room or have sneezed at the wrong time. Our Auctioneers all have years of experience and are trained to spot genuine bids and will repeatedly confirm that a bid is correct before bringing the hammer down. Bidding at auction is easy and you shouldn’t be nervous or anxious about it. We try our best to ensure all our auctions are relaxed and friendly occasions and are clear and easy to follow.
There are three ways to bid at our auctions:
- As a potential buyer you attend the auction and bid for the property.
- On arrival at the auction venue you should collect a copy of our addendum sheet for news of any last minute sales, withdrawals or material alterations.
- Collect an auction catalogue or auction particulars if you haven’t already got one. You can just raise or wave the catalogue if you want to bid.
- If you would feel more confident bidding with some assistance we would be happy to arrange (with prior notice) a member of our staff to sit alongside you during the auction and give any guidance that you feel you need.
- A telephone bidding service is also available to those unable to attend, but you will need to give prior notice so we can make the necessary arrangements on the auction day.
- If you are planning to bid on a property it will be during the auction whilst on the telephone to a member of our auction team. We will call you a few minutes prior to your chosen property being offered for sale to make sure we have a good clear line. We will then relay the Auctioneers words to you, so you are aware of bidding in the room and you are able to instruct the team member if and when and how much you wish to bid.
- Proxy bidding is used when you are unable to attend the auction or unavailable to bid over the phone.
- You submit a bid in writing on a proxy bidding form and authorise us to act for you. You authorise us to bid in the auction room on your behalf up to the maximum figure you set.
- The bidding is made in increments as the auction progresses. We will not automatically offer your maximum amount and will try and buy the property for you at the lowest amount possible. For example – Say you authorise a maximum bid of £105,000 and in the auction room you have the final bid at £100,000 and this figure exceeded the reserve price (price set by the seller prior to the auction, which he has agreed is the minimum he would allow the property sell for), you will be successful in buying the property for £100,000.
- Any of our Auctioneers would be pleased to fully explain the Proxy Bidding process.
NOTE: A completed Proxy or Bidding Form sent to us along with your deposit cheque and buyers’ administration fee is all that is needed to make either a Proxy or Telephone Bid. These will of course be fully refunded if your bid is unsuccessful.