Know your competition

On the day of the auction, arrive early. Firstly, get comfortable with the setting to help allay your pre-auction nerves, but secondly, use this as an opportunity to get a lay of the land and see who else is going to be bidding at auction. You can usually see if there are any other serious bidders as they will be with the real estate agent inspecting the contract of sale or registering as a bidder. Otherwise, there could be lots of people gathered around who are just onlookers (good news for you!).

In a strong property market like Brisbane where auctions are becoming increasingly common, use the psychological advantage of projecting your own confidence and make other potential buyers think you have deep pockets with no limits.