Ethical Auction
JOHNSTON DIXON conducts 'Ethical Auctions'. Ethical Auctions are the same as any other except non-genuine bidding which can be detrimental to the outcome is excluded from the process. 

Given the transparency of ethical auctions, buyers more actively participate and true values are realised. 

Registering

If you are interested in competing to buy any auction property that we are representing, it is important toregister early.

Registering ensures that if the property may be sold prior to the auction, that the best endeavours will be made to contact you to give you the opportunity to make an offer prior.

On auction day itself, it is a statutory requirement that all potential bidders register prior to the commencement of the auction.

Preparation
A number of matters should considered prior to auction day:

- The relevant contract of sale
- Your financial position
- The potential sale of your own property if applicable
- Having a deposit ready should you be successful
- Arranging necessary authorities if someone is to bid on your behalf

Setting a Limit
Think about what the property you are interested in is worth to you, and what you would pay so as not to miss the opportunity to acquire it. As there are no conditions, the true value of a property at auction is simply the best price a buyer is prepared to offer.

Remember: The temporary discomfort of having to go a little higher than you might have liked is infinitely preferable to the enduring regret of not having gone as high as you should when you still had the opportunity'

Bidding
At an Ethical Auction you will not be competing with any non-genuine bidders so you can focus totally on winning the right to own the property.

Whilst we recommend clear, confident bids to ensure that your bid is not missed, we accept bids by any recognisable means.

Please not that auctioneers are not required to announce when a property is 'On the market' (i.e. at or above the reserve). Waiting for this announcement before bidding may cost you the property.

Highest Bidder
Should a property be “passed in” at auction, that signals that the reserve price has not been reached.

If a property is passed in, the highest bidder will have the first and exclusive right to negotiate with the vendor at the reserve price.  As such it is important to be leading the bidding at all times.

Should the highest bidder not exercise their right to negotiate with the vendor immediately following the auction, all other interested parties are then free to join in the negotiations.