BIDDING AGAINST YOURSELF AT AN AUCTION
Aug 29, 2026 · 5 min · 7 segments
See omnystudio.com/listener for privacy information.
- Speakers
Alec BrownGuestReneeHostCamHost
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Aug 29, 2026 · 5 min · 7 segments
See omnystudio.com/listener for privacy information.
Alec BrownGuestReneeHostCamHostNo entities detected.
Yes, we're good.
Thank you so much for joining us.
Can you explain this concept of bidding against yourself and when someone might do that?
So at the end of the day, if we pick it apart, an auction really is just a negotiation, an open-air negotiation that happens between multiple parties or sometimes you might find yourself in a position where you are the only one registered to bid.
It's not in your best interest and the seller has to take whatever the highest bid is.
Ultimately, there is an expectation, there's a reserve price set by the owner, and sometimes by improving your bid, it's going to enhance your chances of actually winning the day and walking away with the property that you want to buy.
Yes, we're good.
Thank you so much for joining us.
Can you explain this concept of bidding against yourself and when someone might do that?
So at the end of the day, if we pick it apart, an auction really is just a negotiation, an open-air negotiation that happens between multiple parties or sometimes you might find yourself in a position where you are the only one registered to bid.
It's not in your best interest and the seller has to take whatever the highest bid is.
Ultimately, there is an expectation, there's a reserve price set by the owner, and sometimes by improving your bid, it's going to enhance your chances of actually winning the day and walking away with the property that you want to buy.
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