Hammering misconceptions: Auction success a mix of style and substance
You gotta know when to hold-em, know when to fold-em; going into an auction fully prepared and with a strategy in place is fundamental to completing a successful purchase in such a dynamic setting.
Auctions can be an overwhelming experience for some but with the right preparation can be an investor's best friend. (Image source: Shutterstock.com)
Auctions are not for the faint hearted. From unconditional purchasing to intimidation tactics, many buyers loathe the mere prospect of taking part in one.
However, even for those who feel they can muster the courage to put up their hand and bid, there are some critical mistakes bidders make that have either caused significant stress or cost them the purchase altogether.
Auction rules vary between states and territories, and knowing the auction …
