BUYER INFORMATION BUYERS GUIDE TO AUCTION | Page 4

At the Auction.
Before bidding starts, the Auctioneer must tell bidders:
• the Auction will be conducted according to the
Auction rules in Schedules to the Sale of Land
(Public Auctions) Regulations 2014.
• the rules prohibit bids being accepted after the fall of the
hammer.
• bidders will be identified on request.
• it is against the law to make a false bid, hinder another bidder,
or in any way intentionally disrupt an Auction.
• substantial fines apply to anyone who engages in illegal
Auction conduct.
• whether or not there will be vendor/seller or co-owner bids.
• any additional conditions that apply to the Auction.
It is illegal to disrupt an Auction, but you can still ask
questions. During the Auction, anyone can ask the Auctioneer
a reasonable number of questions about the property, the
contract, or the Auction. If you are bidding, you can also ask the
Auctioneer to point out who else made a bid. The Auctioneer
can set the amount by which bids increase. These are called
rises or bidding advances.
You can bid at the amount stated by the Auctioneer or offer an
alternative amount. The Auctioneer may choose to accept or
reject that bid.