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Hammer time: Bidding wars erupting at Coast auctions

Absolutely, nine out of 10 are going overs, well above the reserve. In an auction, so long as there s multiple bidders, there s strong results, Mr Jensen said. Some owners have stigmas about auctions based on bad experiences in the past, but any hot market with multiple bidders we always advise an auction. The buyers left over want us to find them something similar. This week, Mr Jensen sold a two-bedroom unit at Alexandra Headland for a record price for its complex at an auction with no reserve price. Ray White Mooloolaba and Kawana auctioneer James Goldsworthy said crowds of up to 100 people were coming out on auction days.

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