Buying at auction can be one of the most high-pressure experiences in property, fast-paced, emotional, and often unpredictable. At PMC Property Buyers, we believe the key to success is preparation, control, and a clear mindset. Here are our top tips to help buyers navigate the process with confidence.
1. Your decision to go to auction
Before committing to an auction, it’s important to assess whether that environment actually benefits you as a buyer.
- Sales agents favour auctions because they bring all potential buyers together, ready to bid to their maximum in that moment. For buyers, this creates one of the most challenging environments to purchase a property.
- It can be advantageous to make an offer when your competitors aren’t ready, perhaps they’re on holiday, tied up at work, or haven’t completed their due diligence. At such a time, you’re in a much stronger position to act decisively and secure the property.
- There are exceptions where auction can be the best route to secure a property. This often happens if the agent has overpriced the property, deterring other buyers who don’t see value. With the right understanding of the process and a solid negotiation strategy, it’s possible for the owner and agent to sell the property below its true value on auction day to conclude the sale quickly.
- Always consider whether the format works for you, or if you are simply playing into the agent’s strategy.
2. Control and preparation
Once you’re at auction, control is very limited, so preparation becomes everything.
- The agent and auctioneer may influence the process, but as a buyer, the only thing you can control is your preparation and your approach.
- When we’re bidding, there’s very little we can control. However, one thing we do try to influence is the behaviour of other buyers at the auction. In particular, we aim to encourage what we call discretionary bids, bids made above a buyer’s predetermined limit, often driven by emotion, where they believe that paying just a little bit more might secure the property. As a competing buyer, you need to prepare as well as possible, to discourage those discretionary bids. There are a few things you can do to discourage people from making these bids, for example, one of the most common things is that when buyers get to their initial limit, they go away and have a discussion with each other on how much more they should go, that’s sending a clear message to other buyers that we don’t have much left. Which in turn will encourage people to bid more.
- Preparation is critical. You need to arrive with a clear plan: when you’ll bid, how much you’ll bid, how frequently you’ll bid, and most importantly, your absolute walk-away limit that you’re genuinely comfortable with. If you don’t have this clarity before the auction, you’re likely to hesitate or make mistakes in the heat of the moment, surrendering any influence you have over other bidders. Hesitation signals weakness, suggests you’re near your limit, and encourages others to push harder by giving them confidence there’s room to bid more.
- Auction strategy is never one-size-fits-all. It’s shaped by the price guide, what the property is truly worth to you, how many bidders there are, who those bidders appear to be, and the broader market conditions. Many of these factors can only be properly assessed once you arrive at the auction. Sometimes the right approach is strong, confident bids in larger increments; other times it’s smaller, measured bids or letting the auction play out before stepping in. Arrive early and observe the registration table so you understand how many competitors you’re up against. Strategy is preparation, being ready for multiple scenarios. Visualise how the auction may unfold, where bidding might open, and what your opening bid will be. Throughout, project confidence and calm; erratic behaviour or on-the-spot decision-making undermines your position. A composed, deliberate approach can unsettle others, particularly those already close to their limit.
- Focus on what can be controlled: preparation, communication, and mindset. Have a detailed plan covering your bidding strategy, limit, and fallback positions. A clear plan ensures you can execute confidently on the day without emotion clouding judgment.
3. Setting limits and framing the conversation
The way you discuss price matters.
- Most people think in terms of, “I’m happy to go to this amount,” rather than asking, “At what price would I be comfortable letting someone else buy this property?” For example, if your limit is $2,000,000, would you be fine if someone secured it for $2,000,001? And if so, would you also be comfortable owning it yourself at $2,001,000?
- Instead of asking yourself “What’s my limit?”, try reframing to “At what price would I be happy for someone else to own the property?”
- This shift helps you make rational, values-based decisions and avoid regret. Always consider the rarity of the property and the opportunity cost of walking away.
4. Getting ready for auction day
Preparation is crucial for remaining calm and confident once the bidding begins.
• Rehearse how you’ll act under pressure, including your bidding increments and limits.
• Decide on a maximum price and give yourself 24 hours to sit with it before auction day.
• On the day, follow your plan, no second-guessing, just confident execution.
5. Bidding strategy on the day
Auction day is about projecting confidence, not leaving things to chance.
• Start assertively to show strength and deter competition.
• Skip hesitant or “discretionary” bids, confidence leaves a strong impression.
• Use your tone, body language, and pace to convey control.
• Always finish on a non-round number to avoid being edged out by a small margin.
6. Next steps
At PMC, we’re constantly fine-tuning our approach to give clients the strongest possible support.
• Include structured pre-auction meetings in every buyer campaign.
• Revisit client conversations to reinforce understanding and confidence.
• Keep sharing examples, insights, and results as we apply these strategies across different markets.
At PMC Property Buyers, we combine data-driven strategy with calm, confident execution, giving our clients the edge when it matters most.