The One-On-One Interstate Phone Auction
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On Saturday I was bidding on behalf of a client over the phone in a Brisbane based auction. It was different to other phone auctions I had participated in before. I was the only bidder.
Usually I would be represented at the auction by a friend or an agent I can trust. In normal circumstances they would follow my instructions such as raising a bid by a certain figure. They would also compete against other buyers.
On this occasion I was quickly handed over to the auctioneer, who ran the auction over speaker phone in a one-on-one phone call.
Unlike a standard auction where you become a number on your paddle. I was having a direct conversation with the auctioneer. The auctioneer was able to re-iterate the amazing “central location, you won’t find a better property anywhere else…” whilst I could add my own two cents where required.
During the auction there were times of disconnection or muting during conversations with the sellers. This gave time to reflect on previous bids and brought some calm.
My client was in the room with me at the time and was experiencing some anxiety to say the least. Fortunately I was able to calm them down and explain the process may not conclude today.
We didn’t purchase the property on the day. I wasn’t willing to go to the number the sellers wanted. In many instances post auction negotiations can take place over a number of days.