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Auction Buyer NZ
Property address
CV (RV)
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Market Estimate
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Preferred price
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Absolute maximum
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Strategy
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Bold
Dominate early
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Medium
Steady and sharp
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Smart
Watch, then strike
Auction Live
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⛔ AT YOUR ABSOLUTE MAXIMUM — DO NOT GO HIGHER
CURRENT BID
No bids yet
Ready
THEIR BID
Type full bid, or small bump amount
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SUGGESTED OPENING BID
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Preferred —
Max —
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Waiting
Enter their bid above to get live strategy
Bid Log
Bids appear here as you log them
Tap "They bid this" or "BID THIS ↑"
Prepare to Buy

Know Before You Go

Everything you need to do before auction day

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Pre-Auction Checklist
Tap each item as you complete it
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4+ Weeks Before
Engage a property lawyer
They review the S&P agreement and title — do this early, not the day before
Talk to a mortgage broker
Get pre-approval in principle. RBNZ LVR rules mean owner-occupiers usually need 20% deposit
Request LIM report from council
Covers consents, zoning, flood risk, heritage, rates — allow up to 10 working days
Order a title search (LINZ)
Check for covenants, easements, encumbrances that could affect the property
2–3 Weeks Before
Book a building inspection
Use a licensed building practitioner or accredited inspector — not your mate in construction
Consider a meth test
Relevant for any property that may have had tenants. ~$200–$400
Review S&P agreement with lawyer
Submit all property docs to your bank for property-specific finance approval
Research comparable sales
Use OneRoof, QV, or Homes.co.nz to understand recent sold prices in the area
1 Week Before
Confirm unconditional finance in writing
Your lender must confirm they will fund at your maximum — get this in writing
Set your absolute maximum
Decide your hard stop with a clear head — not in the heat of bidding. Enter it in Setup.
Arrange your deposit
10% is due on the fall of the hammer. Organise a bank cheque or same-day transfer
Decide on your strategy
Bold, Medium, or Smart — see the Strategy Guide below. Set it in the Setup tab.
Day of Auction
Arrive early, register to bid
Bring photo ID. You must register before you can bid
Bring deposit confirmation
Bank cheque for 10% or confirmation your bank can transfer same-day
Have lawyer's number saved
You may need to call them immediately if you win or have last-minute questions
Scope the room — who else is bidding?
Look for other registered bidders. Count them. Fewer competitors = more control.
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Bidding Strategy Guide
The three approaches explained
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Bold
Dominate from the first bid
Bold strategy is about psychological control. You open with a large, confident bid that signals to every other buyer in the room that you're serious, well-funded, and here to win. When others counter, you respond instantly — before the auctioneer even finishes calling. Speed and size together signal deep conviction and remaining budget, which can cause less committed buyers to mentally drop out early.

Bid increments are large — especially when the opening bid is way below the property's value. If someone opens at $500k on a $1.2m property, Bold doesn't counter with $525k. It jumps to ~$840k. That's a power move, not aggression — it's simply reflecting what the property is actually worth.
Best used when: You've done your homework, know your number, and want to reduce the risk of a prolonged back-and-forth. Works well when you suspect 1–2 other serious bidders — a show of force can make one of them decide it's not worth it. Requires strong pre-approved finance and emotional discipline.
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Medium
Measured, strategic, in control
Medium is the most common effective approach for experienced buyers. You hold back slightly in the early phase, letting others reveal themselves first, then enter with confident steady bids around 65–70% of the estimated value. You match the auction's natural pace — consistent increments signal that you have room to move without overpaying early.

The key discipline with Medium is never being the first to reduce your increment size. If bids are going in $10k steps, keep matching that right to your limit. Dropping to $5k first is a tell — it tells every other bidder you're getting close to your ceiling.
Best used when: You want balance between control and information-gathering. Good default strategy for most buyers in most auctions. Works especially well when you're not sure how many serious bidders there are.
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Smart
Watch first, enter last
Smart (conservative) strategy is about outlasting the room. You hold back deliberately in the early phase, studying who's bidding and how quickly. Fast bidders who respond immediately have budget. Slow bidders who pause between bids are stretching. You're gathering intelligence before committing a dollar.

When two or three others have been trading bids and you sense them tiring — that's your moment. Step in fresh with a confident bid. To people who've been going hard for 10 minutes, a new voice entering right at the end feels like a force of nature. They believe you're just starting when they're ending.
Best used when: Multiple active bidders are competing against each other early. You have the patience to wait. Note: don't wait too long — entering after the "on the market" call has been made with very little room is risky. Get in while there's still a few rounds left.
Regardless of strategy: Always use odd numbers near your maximum. Bidding $1,052,000 instead of $1,050,000 signals you've calculated carefully and have room — not that you're at a round-number limit. Most buyers mentally stop at round numbers. That extra $2,000 wins auctions.
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Conduct of Auction
Section 2 of the standard NZ auction agreement
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Standard Conditions as approved by the Real Estate Institute of New Zealand (REINZ) and the Auckland District Law Society. Used by all major agencies including Ray White, Barfoot & Thompson, Bayleys, and Harcourts.
2.1 — Reserve Price
"The property is offered for sale subject to a reserve price and, subject to the reserve price being met, the highest bidder whose bid is accepted by the auctioneer shall be the purchaser."
The reserve is the vendor's secret minimum. Once any bid meets or exceeds it and the auctioneer accepts, the property is sold — unconditionally — to you.
2.2 — Bid Increments
"The auctioneer may nominate the sum by which the bidding can be raised."
The auctioneer controls the minimum increment — commonly $10k, $5k, or $1k. They can change it mid-auction. You can bid any amount above the minimum, including larger jumps.
2.3 — Auctioneer's Discretion
"The auctioneer may refuse any bid."
The auctioneer can reject a bid — for example, if it's below the minimum increment or causes a dispute. Their decision is final in the room.
2.4 — Vendor Bids
"The auctioneer or the licensed real estate agent acting for the vendor may submit a bid on behalf of any person. The auctioneer shall identify a person so acting before the commencement of bidding."
Vendor bids are legal, but only below the reserve price — and the auctioneer MUST announce them as vendor bids before starting. If you hear "vendor bid" or "on behalf of the vendor", that's not a real buyer. Shill or dummy bids (undeclared vendor bids) are illegal.
2.5 — Vendor's Right to Withdraw
"The vendor reserves the right to bid personally, by a representative, or through the auctioneer, and to withdraw the property at any time before it has been sold and without declaring the reserve price."
Until the hammer falls, the vendor can pull the property from auction at any time. The reserve price is never disclosed.
2.6 — Bid Disputes
"If a dispute arises concerning any bid, the auctioneer will determine the dispute or re-offer the property at the last undisputed bid."
If two people think they won a bid at the same time, the auctioneer decides — or restarts bidding from the last clean bid. Stay focused on the auctioneer.
2.7 — On the Fall of the Hammer
"The purchaser shall immediately: (a) sign the Memorandum of Contract; (b) pay the deposit being 10% of the purchase price unless otherwise agreed; and (c) complete GST information if applicable."
The moment you win, you sign and pay 10% deposit — immediately. Not tomorrow. Have your cheque or same-day bank transfer organised before you walk into that room.
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If Bidding Pauses for Negotiation
Highest bidder, below reserve
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If bidding stalls below the reserve and you are holding the highest bid, the auctioneer may pause the auction and invite you to speak privately. The property has not necessarily been passed in. This is part of the auction process and is worth understanding before auction day.
1 — Ask Before Auction Day
Speak with the salesperson before the auction if you have questions about what can happen when bidding pauses below reserve. They can explain the process and answer questions specific to that campaign.
2 — Ask About the Auctioneer
You can also ask for the auctioneer's contact details. Auctioneers are usually open to explaining how the auction process works and answering practical questions before the day.
3 — Keep Advice Personal
Every auction can run slightly differently depending on the vendor's instructions and the auction conditions. Get clear guidance from the agent, auctioneer, lawyer, or finance adviser before you bid.
Bottom line: if you are unsure about any part of the auction process, ask before auction day so there are no surprises in the room.

Official REA resources: auction guidance and buyer and seller guidance.
Auction Quiz
Test yourself before the big day
Practice Run
Hidden reserve. Realistic pressure.

Run the room before auction day

Choose a property, set your ceiling, then bid against simulated buyers. The reserve stays hidden until the result.

Example properties
Custom option
Market estimate
Preferred price
Absolute maximum
1
On the market
Current bid
No bids yet
The auctioneer is opening the room.
Preferred —
Max —
Practice Log
On the market
Reserve has been met.