When buying at auction, many of the steps leading up to the purchase are the same as making a traditional purchase, therefore, it is important that in conjunction with this fact sheet you also read Buying a Property.
The real estate agent will be able to provide you all the information you need on how to make a bid, however, some important tips to remember are:
Dummy bidding is fictitious or false bidding at an auction by non-genuine bidders in the crowd, with no real intention to buy the property and without adequate disclosure of their interest.
The REIA supports legislation being put into place by most states and territories that prohibits misleading and deceptive practices such as dummy bidding.
For further clarification please see the REIA Guidelines on Auctions or contact your local Agent for the rules and regulations in your area.
This article courtesy of the Real Estate Institute of Australia