How does the bidding process work at an auction?
A successful bidder at a real estate auction is the person who is willing to pay more than anyone else for the property. Bidding can start when the Auctioneer asks for a specific amount or when a bidder offers a starting amount. Once the bidding process begins, the Auctioneer will request incremental increases that can be accepted with the raising of the bidder’s bid card. The bidding stops when the Auctioneer is unable to solicit a higher bid.
