Fabian Sanelli

I'm telling buyers not to use this because I hate this, but it's actually

a really, really good strategy if you want to get under the skin of the auctioneer.

Now, this particular strategy is when you bid only in obscure increments.

So you force the auctioneer to stop, take a break, think about the price before they kick the auction back off again.

Completely kills the momentum, slows the auction right down.

In return, can actually affect the sale price, but that's better for our buyers, of course, listening here.

I'm only suggesting use that one, though, once the property is on the market because most auctioneers won't take those increments unless the reserve's been met.

I've got a bit of a general rule when I call auctions and even when I train my auctioneers.

The moment the property is announced on the market, no bid should be declined, even if it's as small as a $500, even a $100 bid, because it wouldn't make sense that you knock bids back when the reserve's been met, because at that point...

the property is to be sold at the highest bid.

So yes, it's frustrating for the auctioneers and even for myself, but sometimes a small increment from a buyer can result in excess increments from all the underbidders and the auction can actually exceed expectations or even excel from there.

So even though it's a little bit, some buyers look at you and go, why would he take that?

Well, it probably makes more sense to take it than not take it.

Yeah, it's a little bit interesting that one, Craig, but unfortunately I have to agree with the auctioneer.

I think taking it's probably the right approach.

It's an interesting tactic and I see this one a lot more in this market as it's slower because what those particular bidders are doing is they're trying to suss out their competitors.

They're trying to work out who's bidding.

They want to read their body language and then they want to make their move right down the back end of the auction.

It's annoying.

It is an annoying strategy, especially for the bidders because they're basically bidded from the very start.