I first met Phil back in 2015, where we engaged his services to conduct Auctioneering training for my staff. It became evident that Phil was not only a natural but, the best auctioneer I had ever seen. I soon after engaged Phil to Auctioneer at a land subdivision where five lots were being offered for sale by auction in one day. Phil and I worked well together, his advice, direction before the auction made sure we were in a perfect position, come auction day. The auction was a huge success with $647,000 above the reserve prices achieved, a considerable crowd and thrilled vendors.
I only use Phil, and I will only ever use Phil for my auctions as I would never want to risk my vendor’s result by not using the best!
Thanks, Michael Ferris – Ferris Gold
Michael Ferris
Director, Ferris GoldSensational performance last night Phil, you really got things rolling and achieved a fabulous result, Well done.
Bruce Smith
President, Tommy Hafey Club Inc. Richmond Football ClubThe importance of a bidding strategy!
Friday, 15 November 2019
I attended an auction in Brunswick last Saturday and I overheard a young gentlemen discuss settlement terms with the agent prior to the auction. (Well done to him for doing this before and not after the auction!) We then happened to travel down in the lift together. I wished him good luck. He asked me, was I bidding? I replied, no, I was just observing. I then asked him, did he have a bidding strategy? He said, Ohhh, I’ll just wait until it gets on the market and then I will bid. I told him, I do a lot of this and from our experience the 1st bidder buys the property 60% of the time and for the 1st and 2nd bidders the success rate is over 90%. My advice to him was not to hold back and be bold with his bidding. He ended up buying the property. I offered my congratulations to him and he thanked me warmly for the advice. I had never met this person before and our meeting would only have lasted 45 seconds at the most. You might say it was a chance meeting for him but it shows the importance of having a strategy when bidding at auction. If you are unsure about bidding, seek out some advice from someone who does it on a regular basis or it their livelihood.