if the base area is less than 50 square meters, and others have restrictions for certain suburbs and postal codes. If you discussed the property with the broker before the auction and even ordered an appraise, you can be sure to be in a strong financial position on the day of the auction! In Queensland, auctioneers may offer on behalf of the seller or the seller`s representative before the minimum price is reached. The auctioneer must indicate that a seller`s offer is made. Checklist for Residential Auction Bidders (PDF, 676KB) While it takes you weeks and weeks to prepare for an auction, the reality is that the auction itself will be completed in a matter of minutes. You still have to spend time preparing your numbers, spending money on reports, and hoping for the best you`ll earn – but also be prepared to miss something if the price is out of your budget. .