Auction strategies

Brilliant. I want to start getting into investing in those stamps though. Bang $28,750, Bang $41,225 I reckon it would be a great little return haha

 

Nah, same thing, if your the highest bidder and passes in negotiate afterwards.

Depends on the day too, if weekend they can negotiate anytime over the weekend.

If weekday it is probably end of next business day, you would have to check on this. So same rules apply as onsite.

 

I've won at 2 auctions using this strategy:

"8. As soon as someone bids against you, bid again immediately"

I also waited until the auction was about to end and someone was about to purchase the property (and it was still within my budget) before making my first bid. The reaction is always surprise! We have a new bidder! You can sense the disappointment from the previous highest bidder as he thought he was about to win it. Then I keep bidding aggressively until my budget.

Rational is that this puts time pressures on the other guy, not giving him much time to rethink his position, how much he wants to really spend and also making him think I'm not going to stop. For all he knows I could be some super rich person with super deep pockets.

Luckily the auctioneer seemed to help me out in one of the auctions as well since he kept hurrying the other guy to bid or concede.

 

What it does is psychologically f**ks em up. You bad boy you

 

It's called "mental disintegration"

Of course, if he does have deeper pockets then he wins But he'll be thinking "WTF was that? That b@stard just cost me $X!

 

An interesting strategy that paid off!

"As the bidding was due to start, a man in the audience asked about ongoing fees associated with owning the island block, which he claimed was to the tune of $70,000. Mr O’Doherty said the owners actually paid $13,000 each year in fees...
[after the auction finished much lower than expected]
the other 10 bidders were scared off by the suggestion that they could potentially pay $70,000 in annual fees."