One Registered Bidder
Over the last decade in Queensland we’ve had an average of 1.9 registered bidders per auction and a 60% chance that they will actually participate.
The last year or so we’ve seen that average up four times.
Just when we were getting used to this different style of auction, we have returned to 1.9 registered bidders and an active bidding ratio of 60%. We have now been there for four consecutive Saturdays.
For those that remain curious, these are some questions to ponder:
- How do we get in excess of the reserve with only one bidder?
- How do we hold our buyer in until auction day?
- How do we help our seller understand market with fewer inspections?
The uninitiated who believe “you only need two” are actually incorrect “you only need one”.