Why is it important to research auction results?

Researching previous property auction results can be beneficial for several reasons:

1.    Pricing Insights: Studying past auction results can provide valuable insights into the market's behavior. You can analyze trends and patterns in property prices, helping you understand the fair market value for specific types of properties in different areas.

2.    Market Conditions: Auction results offer a glimpse into the current state of the real estate market. By observing whether properties are selling quickly or struggling to find buyers, you can assess the market's strength and determine if it's a good time to buy or sell.

3.    Comparable Sales: Similar to how real estate agents use comparable sales data, researching auction results allows you to find properties that are similar to the one you're interested in. This enables you to compare prices and make informed decisions about what price range is reasonable for a particular property.

4.    Investment Opportunities: Property auctions can present unique investment opportunities, such as distressed properties or those sold below market value. By analyzing past auction results, you can identify potential investment gems and understand the risks associated with certain types of properties.

5.    Avoiding Overpayment: Being aware of previous auction outcomes can help you avoid overpaying for a property. It provides a reference point for understanding what similar properties have sold for in the past and helps you set a reasonable budget for bidding.

6.    Understanding Demand: By analyzing auction results, you can gauge the demand for properties in specific areas or types of properties. High demand may indicate a potentially competitive market, while low demand might suggest that you have more negotiating power as a buyer.

7.    Market Sentiment: Auction results can reflect the sentiment of buyers and sellers in the market. High sale prices and competitive bidding may indicate strong buyer confidence, while low sale prices could signal a more cautious or buyer-favorable market.

8.    Auction Strategies: If you're planning to participate in an auction, studying past results can help you develop effective bidding strategies. You can observe what tactics were successful for winning bids and what might have led to unsuccessful outcomes.

9.    Avoiding Pitfalls: Researching previous auction results can also help you identify potential pitfalls. If you notice a pattern of certain properties failing to sell or selling well below their estimated value, it might be a red flag indicating issues with the property or the location.

We are the ONLY website to hold auction results dating back to 1991. When searching for auction properties using our website, there are tools available to show you what auction history a property may have. As well as what properties along the same street or similar properties have sold for. These tools help you to make the most informed decision before you bid.