Buying a property at auction can be one of the most thrilling — and intimidating — moments in a home buyer’s or investor’s journey. Fast bidding, big emotions, and public pressure can make or break your success. But as seasoned auctioneer Greg Brydon shared on Should’ve Bought That by Ynance, mastering the art of the auction is about preparation, psychology, and confidence.
Here’s what you need to know before you raise your hand on auction day.
Understanding How Auctions Work in Australia
An auction is a transparent way to sell property, but it moves fast. In most Australian states — especially Victoria and New South Wales — auctions are the preferred way to sell homes.
As Greg explains, “Emotion plays drastically into the auction campaign. Buyers have seconds, not hours, to decide what they’ll pay.”
On-site vs In-room Auctions
- On-site auctions (common in Victoria): Conducted outside the property, usually on Saturdays.
- In-room auctions (common in NSW & NZ): Multiple properties are sold back-to-back in one location.
Both types rely on the same fundamentals — confidence, strategy, and emotional control.
How Interest Rates and Confidence Affect Bidding
Auction results often reflect buyer confidence more than financial conditions.
According to Greg, even when interest rates barely move, “it changes how confident people feel about heading to an auction.”
In 2025, Melbourne and Sydney lead the country in auction volumes, with clearance rates sitting around 70%. That confidence tells us one thing — auctions remain central to the Australian property market.
Top Auction Strategies for Buyers
1. Be Prepared Before You Bid
Preparation starts well before auction day:
- Get pre-approved finance through a trusted mortgage broker.
- Arrange building and pest inspections early.
- Understand your price range and stick to it.
“Preparation is the best thing for buyers,” says Greg. “Whether that’s inspections or a pre-valuation from the bank — just make sure it all stacks up.”
2. Know When to Strike
Greg’s golden rule: “If you’re going to lose, lose quickly.”
Don’t drag out emotional bidding. Instead, start with strength and clarity.
If the quoted range is $1–1.1 million and your budget is $1.15 million, consider opening high — around $1.12 million. That bold move can knock out the competition early and stop momentum building against you.
3. Stay Calm and Strategic
Every auction has a rhythm.
Greg describes four types of bidders:
- Quick-fire bidders who match every increment instantly.
- Cautious bidders who wait until “third call.”
- Emotional bidders who overcommit.
- Silent snipers who jump in at the end.
Knowing which one you are — and how others behave — can help you stay composed and tactical.
4. Communicate with the Agent
One of the biggest mistakes buyers make? Staying silent.
Agents often know who’s serious and who isn’t. Being upfront about your interest and conditions can make a difference.
As Greg puts it, “The easier you are to deal with as a buyer, the better the agent will be to you.”
Auction or Private Sale — What’s Better?
Even as an auctioneer, Greg doesn’t believe every property suits auction.
“It’s property dependent,” he says. “The main difference between auction and private sale is emotion. Auctions run on emotion — and that’s what drives results.”
Still, auctions create a fair, competitive environment where serious buyers meet serious sellers. For well-prepared buyers, that emotion can work in their favour.
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