Why remote auction bidding benefitted buyers!

Now that COVID restrictions are starting to be lifted in the ACT, we see a large volume of auctions come to the market. 

During the lockdown in Canberra, we witnessed the evolution of remote auctions. 

As a buyers agent and auction tactician in Canberra, there was no doubt that remote auctions really benefited buyers. 

Here is some of the reason why buyers benefited in Canberra because of remote bidding

  1. the total number of total bidders per auction was down
  2. the auction platforms slowed the speed of bidding
  3. many bidders opted to make phone bids, and hence requests were relayed to the auctioneer. 
  4. relayed or delayed bids impede the ability for the auctioneer to influence the auction
  5. experience bidders took control and were not overawed by not seeing their competitor bidders 

Now that we are returning to onsite auctions. Twenty-three in total this last weekend buyers need to be recalibrating thier auction strategies. 

At the moment, June 2020, the stock levels are down dramatically, and many agents incomes are reduced by the reduction in sales. This is why I think this will be a bustling Spring auction market! 

So if you need assistance bidding at an auction in Canberra, please call 0400446605 Frank Walmsley