As online property auctions continue to grow in popularity across the UK, estate agents are taking on a more crucial role in guiding both sellers and buyers through the process. While managing a live auction can initially feel challenging, with the right preparation and strategy, it becomes a highly effective way to achieve fast, secure, and competitive outcomes.

Understanding Bidding Increments

Whether you're an estate agent new to property auctions or looking to better support your clients, understanding bidding increments is key to navigating the auction process with confidence.

What Are Bidding Increments? Bidding increments are the set amounts by which a bid must increase during an auction. They ensure that bidding progresses in an orderly, transparent, and efficient way.

Rather than allowing bidders to raise their offer by small, arbitrary amounts, increments create a structured framework that keeps the auction competitive and moving forward.

As an estate agent, you’re often the first point of contact for sellers and buyers considering the auction route. Understanding bidding increments allows you to:

1. Explain the auction process clearly to clients
2. Set realistic expectations around bidding behaviour
3. Support sellers in understanding how competitive bidding can drive price
4. Advise buyers on how to bid strategically within the framework

Auctions offer a fast and secure method of sale, and as an agent, your knowledge plays a vital role in making the experience smooth for both buyers and sellers. Knowing the ins and outs of things like bidding increments gives you a professional edge and builds trust with your clients.

What Is a Reserve Price?

In the world of property auctions, the reserve price plays a central role in protecting the seller’s interests while keeping the auction process competitive and transparent.

A reserve price is the minimum amount a seller is willing to accept. If bidding does not reach this threshold, the property is not sold.

The reserve for the property can be no more than 10% higher than the guide price and once the property is live for bidding, the reserve can no longer be increased, it can only be lowered.

In live auctions, sellers may wish to lower the reserves in response to active bidding. This is typically done through communication with the auctioneer.

Bamboo Auctions: What Is the 5-Minute Rule?

In online property auctions powered by Bamboo Auctions, the 5-minute rule is a key feature designed to ensure fairness, transparency, and competitive bidding right up to the final moments.

What Is the 5-Minute Rule? The 5-minute rule means that if a bid is placed within the final 5 minutes of an auction, the auction timer will automatically reset to 5 minutes.

This allows other interested buyers a fair chance to respond, preventing last-second “sniping” and helping to ensure the property achieves its true market value.

Conclusion

Managing a live auction is both an art and a science. From setting smart bidding increments to handling reserve changes on the fly, auctioneers must blend preparation with adaptability. Transparent communication, fast decision-making, and a deep understanding of auction mechanics are key to delivering strong results for both sellers and buyers.

With the right strategies, live auctions can be thrilling, competitive, and highly effective sales events.