Bid at Auction without Attending

Isn’t it great what you can do nowadays? With internet shopping you can buy a whole new wardrobe without even having to leave the house. With conference calls you can sort your business out with all the partners across the world from the comfort of your own home.

Technology has made it so if we didn’t want to we would never have to leave the house. So it follows suit that auction houses are the same.

If you have viewed the property and you know you want it but for some reason cannot make it to the auction house on the day of the auction then the solution is simple – stay at home and do it over the phone.

Bidding Over The Phone

You may have seen auctions on television where there are several telephone operators around the auction house all signalling to accept or decline bids. These operators are talking to potential buyers who are serious about buying a property but were unable to attend the auction that day.

It could be that they are not from the area or simply that they couldn’t get out of work but it doesn’t matter. The operators will tell the buyer when their lot is up and will keep them informed of other bids being made in the room.

The auctioneer will be keeping an eye on the telephone operators as well as the bidders that are there in person. Each time a higher bid is offered the telephone operator will relay this to the buyer on the other end of the line who will then tell the operator whether or not he or she wants to up the bid. The operator will then signal this to the auctioneer, just like the other bidders in the room are doing.

Sealed Bids

Another way potential buyers can make a bid for a property without actually attending the auction is through sealed bids. These bids are made in advance. They are written on paper and sealed until a certain date. The bids are usually opened by wither an auctioneer or the solicitor of the property owner at his or her office and whichever bid is highest will seal the deal. The bidder is then notified that they have been successful in purchasing the property.

While it is possible to purchase a property through auction without attending the auction house the buyer may be missing out on doing so. The atmosphere at a property auction is like nothing you will ever experience elsewhere. It’s an exciting place to be and as long as you are careful with what you offer and don’t get carried away a day at a property auction can actually be a lot of fun!

If you can get to the auction it’s definitely worth going along just to take part is something with such a special atmosphere. The adrenaline you’ll feel when your lot comes up will be worth the distance you’ve had to travel to get there!