Everything you need to know about our auction process

You’ll have two opportunities to buy each property listed with Luxury Auctions.

In the first instance, properties are listed at Guide Price for four weeks – this allows buyers to browse before the auction commences.

The guide price gives the buyer an idea of the Reserve Price for the property – usually within 10% of the minimum price required by the seller. However, the guide price is not an indication of the expected sale price or the property’s valuation, and it can be adjusted during the 4-week period.

You’ll have two opportunities to buy each property listed with Luxury Auctions.

In the first instance, properties are listed at Guide Price for four weeks – this allows buyers to browse before the auction commences.

During this four-week period, you can choose to make a pre-auction offer on a property through our platform or a listing agent and sellers will consider all pre-auction offers. All offers will be shown on our platform, and those who’ve made offers will be notified when a new offer is made after theirs. In this case, you’ll have to counter with a higher offer.

The seller can accept any pre-auction offer during this initial four-week period, and if they do so then the auction will not go forward and the price will be locked in for the buyer.

After the initial four-week period, the official auction will be held over six days.

Bidding will go live on the first day at a set time on each property listing and on our platform, and the guide price will be updated to the opening bid.

After the initial four-week period, the official auction will be held over six days.

Bidding will go live on the first day at a set time on each property listing and on our platform, and the guide price will be updated to the opening bid.

It’s simple and easy to register on our platform, and you’ll be supplied with all the details you need in order to bid on the property of your choice.
The auction will close at midnight on the final day, unless a bid is placed within the final minute. In this instance, the auction will extend and continue as long as an offer is made, literally, at the last minute. For a deeper understanding of the auction rules, visit our platform for more information when you register)
Only cash offers are accepted on the auction, but finance can be pre-approved in advance of the auction through one of our bond originator partners.

If you’re feeling at all hesitant, remember that our team will be on hand to help round-the-clock.

It’s simple and easy to register on our platform, and you’ll be supplied with all the details you need in order to bid on the property of your choice.
The auction will close at midnight on the final day, unless a bid is placed within the final minute. In this instance, the auction will extend and continue as long as an offer is made, literally, at the last minute. For a deeper understanding of the auction rules, visit our platform for more information when you register)
Only cash offers are accepted on the auction, but finance can be pre-approved in advance of the auction through one of our bond originator partners.

If you’re feeling at all hesitant, remember that our team will be on hand to help round-the-clock.

While it’s relatively painless to buy a property on auction, there are a few ins and outs that you need to know before you begin. Here are a few tips to make the most of your auction experience.

Before you bid, make sure that your finances are in order so that you can properly budget for the property. While you won’t know the exact amount it’ll sell for, it’s good to assume that it will be around the guide price, if not slightly higher. Additional costs also need to be accounted for, such as transfer fees, and if you’re not purchasing with cash then arrange pre-approval on a loan so that you know exactly what you’re working with.

Once the hammer falls, the selling price is finalised and the successful bidder enters into a legally binding contract. Note that a deposit will have to be paid within the following 24 hours.

There will be numerous assets listed under the property listing that you can browse at leisure, including videos, virtual tours and images. Make sure you familiarise yourself with the property you’re bidding on or organise a viewing with one of our agents beforehand.

Make sure to download all the legal documents with regards to each property and read them carefully. For any queries or adjustments to the conditions, engage with our team before the auction goes live.

Auctions can be exciting, but be realistic about your budget – set your maximum bid before the bidding begins and make sure you stick to it!

Upon a successful auction bid, your next steps will be to sign a binding contract and pay a non-refundable deposit within 24 hours. The remaining balance must be paid within 30 days of the auction, or according to the closing date set out in the contract.

While it’s relatively painless to buy a property on auction, there are a few ins and outs that you need to know before you begin. Here are a few tips to make the most of your auction experience.

Once the hammer falls, the selling price is finalised and the successful bidder enters into a legally binding contract. Note that a deposit will have to be paid within the following 24 hours.

Auctions can be exciting, but be realistic about your budget – set your maximum bid before the bidding begins and make sure you stick to it!

Everything you need to know about our auction process

Everything you need to know about our auction process

Get your offer in before the auction

Get your offer in before the auction

The auction begins

The auction begins

Register to bid

Register to bid

Priming for auction success

Priming for auction success