Just got back from an other stupid auction.
The house was very old and empty (guaranteed must sell). RA's were pumping the place up as an ideal knock down job to "build your dream home". Trouble with that is, the property is already very pricey due to it's location. So to knock down and rebuild would REALLY be big bucks.
So the RA talks up the place, says he was thinking of the place last night as he was watching the footy.......yeah right, what a tosser!!!.
Can't they just cut the BS and get on with it. So he starts and no bids after 3 mins. He then puts in a vendor bid. Further 5 mins and still no bids. He goes inside to chat with the vendor. Comes back out, tries to get the bidding going again when clearly by this time no one was interested. And then for some odd reason, the RA puts in another vendor bid (+50K)......totally weird thing to do.
At this point people start walking away. The ran starts to fall and he ends the auction.
What a dope.