There was just a short item on last night’s television news, so I don’t have many details about it just yet, but yesterday a home in Sydney was successfully sold via an online auction. Video footage of the auctioneer was beamed over the internet, with people submitting bids in real time without actually being at the property.
It all looked ok to me, and I can’t think of too many problems. I’m not sure how the auctioneer and the selling agent feels about it. They often like to stand around and chat with the bidders to see how they’re going during the auction process, and I guess they can’t really do that in this situation. Although I suppose the bidders would have to submit all of their details to register to bid, so they would have phone numbers available.
Would you sell your home with an online auction?