Buying a property at auction can be a daunting process, especially if someone in the family has become emotionally attached to a property and you have spent some money completing due diligence.

Auctions are one of the most transparent methods of buying a home, but it can be nerve wracking. While it may all come down to who has the deepest pockets on the day, sometimes how you play the game will influence just how high the other bidders are prepared to go. Using a professional buyer’s agent can help you navigate the complexities of an auction and even bid on your behalf.

Properties in Wanaka and Queenstown have been selling above the expected price range for the past 2 years. Buyers of course want to know a ball park figure that the property will make at auction.

Often that figure is under quoted effectively hooking buyers into being interested in it. Its not the best idea to take the price indicators as a true measure of what will happen during the auction. It only takes 2 enthusiastic buyers to push the final sale price well beyond the expected cost of the property.

To avoid the confusion of price guides, reserve prices and expected auction performance, engage a buyers agent for clear advice on specific properties as well as full auction attendance and bidding services.