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Following the recent interest rate reduction from the Bank of England, our CEO Robin Rathore says that the drop mitigates some of the impact caused by the increased stamp duty rates announced in the Budget:

“We’re seeing a lot more activity in the market than we were 12 months ago. Today’s reduction should accelerate this even further and bring continued confidence and stability.

“While the base rate reduction is an incremental move, and there is still a way to go, it takes the pressure off aspiring buyers and mitigates some of the impact of increased stamp duty rates announced in the recent Budget. 

“With inflation remaining steady, it’s likely that we will start to see further incremental drops over the next six months.”

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In the news… Express: Interest rate cut 'eases impact' of Autumn Budget's higher Stamp Duty rates

In the past 12 months to July 2024, Bamboo Auctions has seen a 30% increase in the number of properties being listed by its agent partners for sale by online auction.

Bamboo was built to help agents sell more properties, with an ambition to make online property auctions more accessible for both estate agents and their customers, wherever they are. We’ve seen a significant uptake in the demand for our platform as agents seek to take back control of their own auction service. 

Using online auctions, estate agents earn more of their revenue, faster, which in the current market helps to ensure positive cash flow. 

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In the news… Estate Agent Today: Bamboo Auctions ‘set for best year yet’

Private treaty sales are the norm in the UK and are the best way to sell property in a chain. Auctions provide the best route to market for anything that is chain-free, as they offer a range of benefits to buyers, vendors and agents. Here we look at the main benefits of auctions. 

Private treaty transactions can vary hugely in length and anyone who’s been an agent for a while will have a horror story or two about how slow it can be. On average, launching a property on the portals to completion takes 5 months and rising!

Auctions, however, can reduce this time to just 5 weeks. This statistic includes conditional auctions, which have a 20-working-day exchange period. Traditional auctions exchange immediately after a successful auction, so they are quicker and all parties benefit from a quicker transaction, and it allows you to focus on the next sale.

If you have a property that has more than one interested party then auctions will achieve the best result for you and your vendor. Looking at private treaty, buyers may have one, two or maybe even three rounds of bids. With auctions, we take this to the extreme and buyers keep bidding until someone stops. This ensures you’ve achieved the best possible price for your vendor. 

Perhaps the most powerful benefit of auctions is their ability to all but remove fallthroughs. Across both types of auctions (conditional and traditional), our success rate is 99%. Compared to around 35% of private treaty transactions falling through.

 about the rise in fall throughs and the damage they cause in terms of disruption, stress and cost to buyers, vendors, agents and solicitors alike.

We automatically generate the contract for you with traditional auctions so there’s no additional work for you to do. We also collect any fees automatically at the end of the auction and email all parties informing them of the next steps and timescales.

Auction lots are advertised on the major portals like any other property and rightly so, as Rightmove, Zoopla and similar portals represent the largest audience for your vendor. However, auctions bring a new demographic of buyers to the table; professionals. Many professional developers scour the Bamboo Marketplace for opportunities and we see many of the same names repeatedly on our platform. Then there’s a swath of everyday buyers who are looking to flip their first, second and third properties and also search our platform for the right property. 

Are you an estate agent ready to revolutionise your property sales? Discover the power of online auctions with Bamboo Auctions and get in touch with one of our expert team today!

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A quick look at the benefits for buyers, sellers and their agents.

What are the benefits of selling via auction?

Nest is an independent, family-owned business. I, Sara, am proud to work alongside some of the finest professionals in our industry. Our dedication lies not only in excelling at what we do but in prioritising the best interests of our clients. Our office is located in the village of Blaby, and we primarily serve the southern Leicester villages. We strive to provide the best customer service while maintaining honesty and transparency.

Have you previously sold via auction online auction before?

Yes, before collaborating with Bamboo / Rocket, we worked alongside another supplier as our online auction provider.

Our decision to join Rocket Auctions was greatly influenced by my long-standing relationship with Matt. Having worked with him for many years, I trust him and his strong work ethic.

How has offering auctions powered by Bamboo helped you?

Partnering with Bamboo/Rocket has allowed us to offer our clients a modern method to sell their properties using online auctions, which also supports a quicker sales process.

How would you describe onboarding, support & service from Bamboo?

The service I receive from Matt is outstanding. His communication is excellent, and I consistently receive positive feedback from clients regarding his assistance.

Whilst some agents (or even branches \ divisions within an agency) may be suited to our self-managed auction technology, we find some still prefer to 'out-source' all auction leads. For this reason Bamboo now have a dedicated team and brand -  

 which can manage the entire auction process for you and your vendor whilst still giving you complete control over marketing and viewings - making sure you still remain in control of the process and your vendor.

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Insights from Our 30-Second Interview

Partner Showcase: Nest Estate Agents

If you’re sat there wondering exactly how the process works on auction day, Robin’s interview with The Negotiator shares how one lot, Appledore Barn, went from one bid at £36,000 to selling for £90,500 – 126% over the guide price.

It’s no secret that the market has seen ever-increasing transaction times. This does nothing but frustrate sellers and buyers who are desperate to move, and agents who want the transaction to go through so they can take their fee. Auctions, and in particular online auctions, provide an answer to this issue.

Appledore Barn is one of over 5,000 transactions sold through Bamboo’s platform and we’re seeing more and more reputable and forward-thinking agents using auctions as an alternative route to sale and embracing our technology to manage the transaction.

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In the news… The Negotiator: There’s a shed-load of interest in actions

, the expert town and country property estate agents, to power its new online auction offering. 

This marks the first time that Michael Graham have offered an auction service to its clients. Across its network of 15 offices, Michael Graham is now able to offer the auction method of sale to vendors, white-labelled through Bamboo’s online auction platform. 

Bamboo Auctions provides estate agents with the technology to power their own online auction offering. With Bamboo, agents can list, control, and manage their own auction service. By using Bamboo’s technology platform, Michael Graham agents have been able to add auctions to their existing service, offering vendors another option when it comes to marketing and selling their property. 

Through the platform, Michael Graham can list properties for sale by online auction at any time, giving sellers complete flexibility over the transaction timescales. Buyers can search, download the legal packs, and place bids from wherever they are. 

The popularity of online property auctions continues to rise as sellers look for more speed, certainty and transparency when it comes to selling their property. Over the first half of the year, Bamboo saw a 31% increase in the number of properties being listed by its agent partners for sale by online auction, when compared to the same period last year. 

Carly Freestone, Marketing and Operations Director, Michael Graham Estate Agents, said:

“We’re seeing an increased demand from clients looking to sell their properties with a quicker turnaround. Adding an auction service enables faster transactions, particularly for chain free clients. We’ve already had a lot of interest from clients and have a number of listings which are gaining some excellent traction on the Bamboo platform. We’re thrilled to be working in collaboration with Bamboo and excited about the future possibilities our partnership will give us.”

Robin Rathore, CEO, Bamboo Auctions, said:

“Selling properties through auction is fast becoming more popular as agents and their clients look for alternative ways to sell their property. Online auctions allow for a faster transaction time and enables everyone to move to a much more efficient timescale. Our agency partners not only get access to our online auction platform, they also get expert advice and hands-on support from our experienced team who are there to help guide them through the entire process, whilst keeping control of the transaction and vendor relationships. We’re really excited to be working with the team at Michael Graham; their reputation for a high-quality service and their dynamic approach to selling perfectly aligns with Bamboo and we can’t wait to build on our initial successes together.”

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Bamboo Auctions is providing the white-labelled online auction technology for Michael Graham.

Michael Graham partners with Bamboo Auctions

When it comes to buying and selling property, pricing is crucial. The latest housing insight report from Propertymark tells us that, whilst the gap between the seller’s asking price and market expectations is narrowing, it is still significant. The data shows that nearly 80% of all private treaty transactions are selling for less than the asking price, in comparison fewer than 10% of properties are selling in excess of the asking price, further solidifying why accurate pricing is so important. 

We saw CPI inflation rise from 1.5% in April 2021 to 11.1% in October 2022, which is a huge increase, only for it to fall dramatically back to 2.3% by April 2024. This left both households and businesses struggling to cope in the face of increased costs due to inflation and the impact of the accompanying rise in interest rates. With the end of 2024 now in sight, rates appear to have finally settled at 5% and we expect this to stay stable for the foreseeable.

Whilst inflation has come down, prices are still increasing, albeit at a slower rate. and this has impacted the housing market on both a macro and micro level. CPI inflation was higher than wage inflation between April 2021 and June 2023. This resulted in the property market being largely supported by what are termed as “necessity sellers” (e.g. those vendors forced to move due to divorce, debt or death), cash-rich buyers or buyers with large deposits. 

Fragility in the market has been created by these interest rate rises, with sellers delaying moves, buyers pulling out of transactions, or renegotiating prices, all of which have left estate agents to deal with lengthy transaction times and increased market uncertainty. If you’d like to read more about how online auctions can help prevent sales from collapsing, take a look at our recent blog post: 

Signs of renewed activity is starting to appear in all sectors of the property industry; conveyancers, estate agents, mortgage brokers and removal companies. A 14% increase in the number of market appraisals being carried out by member branches was reported by Propertymark in its April 2024 Housing Insights Report. Agents also experienced a 20% increase in new property instructions on the month before. The average number of new prospective buyers registered per branch also increased to 88 in April 2024. It is worth noting that this is the highest number in the last 12 months. With supply to the market steadily increasing, accurate property pricing is even more critical.

The increase of transaction times in recent years, has been felt throughout the industry. Whilst some of these increases could be attributed to external influences (such as COVID), reduced workforce capacity and streamlined services, transactions times have continued to rise despite various initiatives and technologies promising to tackle the issue. 

In 2017, transaction times were approximately 10-13 weeks, but by 2022 they had risen to a staggering 22 weeks. Currently, average transaction times are now closer to 26 weeks, which highlights the fact that the problem is only getting worse. 

It has therefore never been more crucial to get pricing right to ensure that transactions are fast and certain. With it taking 62 days on average to find a buyer before the legal process can even begin, it’s worth remembering that properties which do require a price reduction take three times longer to sell than those that don’t. If that’s not an incentive to get your pricing right from day one, we don’t know what is. 

In a market where estate agents face rising costs and downward pressure on fees, cash is key and the ability to earn fees faster has a huge impact on an agent’s ability to grow and take advantage of a market that is starting to show signs of recovery. 

With auction transaction times of around 5-6 weeks on a consistent basis, auctions are providing a tried and tested solution to this issue. As auctions rely on the upfront preparation of legal documents and defined bidding time frames, transactions are able to complete much more quickly. This means that if an estate agent is instructed to sell by online auction on 1 January, they will receive their fee on 5 February. In contrast, if an estate agent has an offer agreed on a property as a private treaty sale on 1 January, they will have to wait until 1 July to receive payment of their fee. With stats like these, it’s easy to see why sale by auction is experiencing a resurgence. 

With buyer appetite increasing, more and more agents across the country are turning to the auction market as a catalyst for renewed growth, helping time sensitive sellers achieve the best possible prices for their properties in the shortest possible time frame. If you’re looking to reduce risk, lock in commitment and help eliminate sales falling through, get in touch with us today to speak to one of our experts.

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Why getting the pricing right matters

Talk of housing shortages and the UK’s current ‘housing crisis’ is a topic that crops up regularly in the media, with discussions around new housing and homebuilding targets featuring prominently. With household budgets constantly being stretched by price increases for everyday essentials, it’s easy to understand why larger construction firms are currently building fewer houses. There’s little point investing in building new homes when people can’t afford to buy them. In the current financial climate, it’s clear there’s a severe lack of affordable housing and more needs to be done to address the situation.

With the average UK salary working out at around £35,000 a year and the average UK house price being approximately £290,000, buyers simply can’t afford to purchase houses at the prices being set in the market. Add to that the fact that studies have shown it will take almost 10 years for first time buyers to save for a deposit, and it’s easy to see why people are struggling to get on the property ladder. Barratt Developments reported a fall in the building of new homes recently, blaming the decrease on higher interest rates and inflation deterring potential buyers, clearly highlighting the difficulties purchasers currently face. 

It’s obvious that more needs to be done to address the shortage in affordable housing, but are the new Labour government going to be the ones to finally solve this issue? If history is anything to go by, they’ll certainly have their work cut out.

The government’s target of building 1.5 million new homes within the next five years is ambitious by any standards and, if the Labour government are to achieve this, they’ll need to make some radical and brave decisions sooner rather than later. Just over a year ago, Keir Starmer stated at the Labour party conference that a Labour government would ‘get Britain building again’ with a plan to ‘bulldoze through’ red tape. With his party now in government, he has certainly set himself a challenging target. 

Not since the 1960s have houses been built at such an ambitious rate and it’s worth remembering that, back then, the construction of new homes was generally carried out by local councils in the form of social housing. From the 1980s onwards, homebuilding has largely been left to the private sector, with social housing sold off as part of Right to Buy schemes.

In order to get on the property ladder, buyers may need to manage their expectations to better reflect their financial situations. For many, this could involve having to rethink their choice of location and buy in areas where property is more affordable. 

With a budget of £150,000, it’s possible to buy a two-bedroom apartment in Leicester, but if you work in London, you’ll be spending in excess of £200 a day on train fares, which is more than a little problematic. One solution could involve government subsided rail travel to enable those opting for cheaper housing further afield to commute to London, but whether this is a policy likely to be proposed remains to be seen. 

With working from home and the idea of flexible working becoming more commonplace, it’s now a viable option for first time buyers to get on the property ladder outside of London and commute in less frequently, whilst benefitting from a London job and salary. Perhaps this is an additional motivation behind introducing day one flexible working requests and, once the new employment act comes into force, I'm sure more and more listings on Rightmove will contain information about journey times into London.

The temptation to try and solve the shortage in affordable housing with binary solutions, as with many important issues these days, appears to be the favoured solution, when what’s really required is a comprehensive and holistic approach. The powers that be need to show a greater understanding of what kind of housing should be provided in the market and, crucially, who should be responsible for providing those homes.

The major criticism of the idea that local government should build housing directly is the distinct lack of expertise in place to do so, with this in mind, partnerships with local developers, such as those undertaken by Homes England, encouraging developers to join their delivery partner dynamic purchasing system (DPS), should be welcomed. 

Whatever steps the government decides to take towards tackling the affordable housing problem, it is clear that the issue requires a holistic and multifaceted approach if the target of 1.5 million homes within the next five years is to be met.

You can read more on Robin’s views in his latest article for 

If you’re an estate agent looking to unlock the benefits of online property auctions, take a look at our recent blog post 

 to speak to one of our property experts.

The Bamboo Auctions team discussing how their online auction software places the control of the auction in agents' hands.

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Are we in the midst of an ‘affordable’ housing crisis?

If you haven’t thought about selling property via auction before, now might be the time to consider it as a serious option. In the current market, forward-thinking agents are using auctions as an alternative route to sale more frequently and here are five reasons why:

Sale by auction is a tried and tested way to sell property, backed by decades of sales history. Many estate agents in market towns across the UK come with the tagline ‘Estate Agents, Auctioneers and Valuers,’ a telling nod to the place auctions hold in the industry’s history. Despite the fact that, in more recent years, some agents have withdrawn the service from their repertoire, sale by auction is now making a comeback and it’s easy to see why. For more about how online property auctions work, see our recent blog post: 

In today’s market, which is known for its ever-increasing transaction times and lengthy delays, one of the key benefits of selling at auction is the way it speeds up the sales process. Sales at auction generally complete within 28-42 days, meaning buyers and sellers are no longer left frustrated and facing delays. With faster transaction times, agents can take their fee faster than through traditional treaty sales, meaning everyone involved has a quicker turnaround and less stress. In today’s climate, getting income in and having an injection of cash to the agency is key.

In the last six months, we have seen a steady increase in the supply of properties available to the market, with over 5,000 transactions now having sold through Bamboo’s platform. Over the last 12 months, we have seen a 50% increase in the number of properties being listed for online auction by agents. As the market in general is more robust, with strong offers from buyers on the up, it’s the perfect time for agents who have not yet introduced auctions to their service offering to start doing so. 

As well as faster transaction times, selling at auction provides more certainty over the sale, giving the seller more control over the whole process. There’s significantly less chance of a sale falling through after auction, which is often the case with a private treaty sale, if the buyer decides to change their mind or back out. Selling at auction means you’re dealing with multiple buyers, rather than just one, giving everyone the chance to bid. The auction process ensures there are set deadlines in place to make sure the transaction completes. Buyers using the Bamboo platform have completed their ID checks and already input their payment details prior to the auction starting, showing just how committed they are to the bidding process. As a result, when the auction closes, the winning buyer is instantly charged and the property can exchange online, with a legally binding commitment to complete within an agreed timeframe.

With the new Labour government, the market is now entering a period of greater economic certainty and we are seeing green shoots appearing as things start to rebalance. Our statistics reinforce this. We’ve seen growth year on year in the number of properties being listed for online auction by agents. In addition, the average price reduction required to sell has also reduced to just 9.5% of the original reserve price, as compared to almost 20% in May 2024. These figures highlight the fact that pricing is hardening and becoming more aligned with buyer expectations. 

More and more agents are now using auctions as an alternative route to sale and embracing Bamboo’s technology and expertise to manage the transaction. The platform provides the tools the agent needs to complete the auction, and Bamboo’s team of experts are on hand to help guide estate agents through the process.

The use of auctions, particularly online auctions, is gaining in popularity and providing both agents and vendors with a seamless way to navigate property transactions. To read more about how the auction process works, take a look at our recent article featured in The Negotiator. 

If you’re an estate agent ready to discover the power of online auctions, get in touch today to speak with one of our team of experts, we’d love to hear from you!

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5 benefits of Selling Property at Auction

Auctions have long been a popular way to determine value through competition in buying and selling. Two primary types of auctions often come up in the property or high-value asset world: traditional and conditional. While they share similarities, their structure, process, and legal implications can vary greatly. 

In this article, we will explore the key differences between traditional auctions and conditional auctions to help potential buyers and sellers understand which might suit their needs best.

Traditional auctions, also known as unconditional auctions, follow a straightforward process that has been used for centuries. The sale is immediate and final, with binding legal implications the moment the hammer falls.

Example: A traditional auction might be the right choice for sellers looking to sell a property quickly and for buyers who are ready to move fast, such as investors or developers.

Conditional auctions, sometimes referred to as modern auctions, offer more flexibility for buyers and whilst it commits the buyer to pay a reservation fee and adhere to the conditions of the reservation contract, it does not fully oblige the buyer and seller to purchase the property. The advantage of this is that it allows the buyer more time to raise finances should they need to purchase the property, but the disadvantage is that the sale is not legally binding. If you are a seller of an unmortgageable property or you need a fast and certain transaction, then the traditional online auction is the way to go.

Example: Conditional auctions are an attractive option for buyers who need time to arrange a mortgage or complete legal checks, while sellers benefit from the certainty that they can move forward with the highest bidder, but with slightly less pressure than a traditional auction.

3. Comparing Traditional and Conditional Auctions

Amounts payable at the end of the auction

Both traditional and conditional auctions have their merits.. Traditional auctions provide immediate certainty and speed, while conditional auctions offer flexibility and open the market to a wider array of buyers. Understanding the distinctions between these two auction types can help ensure that both parties are well-positioned for a successful transaction, tailored to their individual needs.

Are you an estate agent ready to revolutionise your property sales? Discover the power of online auctions with Bamboo Auctions and

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A deeper look at the differences and benefits of each

Traditional Auctions vs. Conditional Auctions

With a high number of estate agents adding auctions to their list of services, Bamboo Auctions has reached a new milestone of 5,000 online auction sales, raising just under £1bn in total property transactions.

Launched in 2016, Bamboo now has more than 1,100 estate agency partners and has sold over 5,150 properties through its online auction platform to date with a total value of £904m.

With more estate agency partners than ever before Bamboo Auctions says that it is on track to have its best year yet having already reached 839 sales in 2024 with an average sold price of £184,251.

Bamboo Auctions provides estate agents with the technology to enable them to offer their own online auction service, adding this to their existing offering and giving vendors another option when it comes to marketing and selling their property.

Through the platform, agents can list, control, and manage their listings using Bamboo’s technology, whilst keeping control over the sales progression, buyer and seller relationships and cross-selling opportunities.

Robin Rathore, CEO, Bamboo Auctions, said: “Bamboo was built to help agents sell more properties, with an ambition to make online property auctions more accessible for both estate agents and their customers, wherever they are. We continue to invest heavily in technology and innovative solutions that help agents sell more properties while supporting our agents with the highest levels of consultative customer service.

“We’ve seen a significant uptake in the demand for our platform as agents seek to take back control of their own auction service. Using online auction, estate agents earn more of their revenue, faster, which in the current market helps to ensure positive cash flow. Bamboo provides all agent partners with training on how to use the platform, along with advice and knowledge around how to spot the right properties for auction, when to suggest it, and how to ensure the vendor gets the best outcome.

“Reaching the 5,000 sales milestone is hugely significant for the Bamboo team and further cements our place in the market. I’m grateful to our agent customers for putting their trust in our technology and service and look forward to building on our successes together as we head towards another record-breaking year for Bamboo.”

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Bamboo Auctions hits milestone of 5,000 properties sold

The South West with 30 offices covering Somerset, Devon and Cornwall offering the Complete Property Service – offering the best moving-related services under one roof. From Sales, Lettings, Mortgages, New Homes, Conveyancing, and of course Auctions.

Our auction service has varied over the years, starting with the more traditional in-room auctions selling everything from property and land to more peculiar water storage tanks and pumping stations! This service evolved with the technology to the online format with another provider initially, then to Bamboo.

Bamboo has helped Bradleys auction service by supporting our desire to manage the process with our clients, something that supports our motto of People Serving people. The platform provides the transparency we believe is important and the technology to perform at speed, and accurately and ensure the process concludes successfully.

The onboarding process was very simple and following the short training sessions, enabled our teams to take it forward immediately. It naturally helped due to us offering the service before, so it was a change of platform essentially, although the support team and ability to contact someone at Bamboo should a situation not be clear, or some support required has been invaluable.

Lastly, anything else you would like to say about Bamboo Auctions? 

The appeal of Bamboo was not only the people that run the business being very open and easy to connect with, but also backing up everything they said they would do. The platform and offering continues to evolve and that is also important to continue to grow our success of selling via the modern method of auction.

Partner Showcase: Bradleys Estate Agents

The platform was a perfect fit for FG Auctions, allowing us to control every sale and handle each one individually to ensure the best outcome for our client. Whilst there is a place for large mass auction days that some auctioneers favour, our service-orientated model is ideally suited to the white-label platform offered by Bamboo.

It has delivered certainty for many of our clients. In a market where Private Treaty transactions can take upwards of 4 to 5 months to exchange, (with pitfalls of related sales collapsing, funding being withdrawn and other legal problems), the online auction attracts funded cash buyers with the certainty of an exchange of contracts when the reserve has been met and the timer goes to zero.

Bamboo is first class – they offer excellent and regular support and are the ideal Partners for us.

Has our technology helped your business and teams?

Technology never stands still, and this is the case with Bamboo constantly upgrading the platform – the features help the teams deliver up to date data to the clients and inform advice we provide to ensure a successful result. With an 87% success rate our results tell the story.

Bamboo are very engaged and hands on, led from the top by Robin Rathore the inspirational founder.

Partner Showcase: Fisher German

What is the new Alto updated Property Selection in the Bamboo Dashboard?

We have been busy updating our Bamboo Auctions integration with Alto and are making our agents’ lives easier by helping them identify suitable properties for auction. We are constantly improving our technology and for this reason, we have recently updated the new Alto automated property selection scoring system. 

The new Alto scoring system evaluates properties based on the presence of specific keywords within Alto for each property, assigning them different scores ranging from "Hot Property" to "Average." If your property is labelled as a "Hot Property," consider discussing with your seller the option of listing it for auction and both you and your vendor can benefit from a more secure, certain and speedier sale!

We have also added a new info button to Alto Properties that displays a preview of the property details when clicked. In addition to displaying the data used to score the properties, the preview also highlights some of the keywords we look for in the scoring process.

At Bamboo Auctions, we are committed to empowering our partner agents with the tools and resources they need to succeed in the competitive property market. Introducing this new streamlined way of self-managing fees is a testament to our dedication to innovation and excellence. By providing you quick and easy access to amend fees on an individual listing basis, we aim to support you in achieving the best possible outcomes for your clients.

For any questions or assistance, our support team is always here to help. Contact us at hello@bambooauctions.com.

Thank you for choosing Bamboo Auctions. Stay tuned for more updates and features designed to enhance your property auction experience. Happy listing!

Follow us on social media for the latest news, updates, and insights from the Bamboo Auctions team.

Updated Automated Property Selection

Feature Update: Alto Integration

Starting, Guide and Reserve prices... What is the difference?

When listing at auction you will need to understand three separate prices: a Starting price, a Guide price and a Reserve price. Below, we are going to look at the difference.

The Reserve Price is a confidential figure between the agent auctioneer, the vendor and Bamboo. It is the minimum price that the seller is willing to accept for the property. All bidding will need to either meet or exceed this ‘reserve’ before a sale can happen - providing your vendor with a financial safety net. The reserve cannot be more than 10% above the guide price.

The Guide Price is effectively the marketing or advertising price. Informally it is a guide on where the seller's reserve price might be. The seller's reserve price might be the same or lower than the guide price, so it is important not to assume that the guide price is exclusively tied to the reserve price.

The Starting price is the price that the auction bidding will commence at and the first bid that bidders are able to place online.

Properties at auction are priced to sell in a transparent, fair and competitive process. This means that pricing is designed to encourage buyers into the market to compete for the property by placing higher and higher bids. The aim is to achieve the best possible price for the vendor \ property in the shortest amount of time.

If you require a second opinion on how to price a property at auction we have added a new feature in our dashboard called ‘Appraisal Advice’ which is designed to simplify the appraisal process for our partner agents. 

With just a click of a button, you can request a professional auction appraisal directly from our in-house auctioneers from within the dashboard. Our in-house qualified auctioneers will review the information provided and deliver a detailed auction appraisal, helping you make informed decisions and set realistic expectations for your clients. 

What is the difference?

Starting, Guide and Reserve Prices

When placing a bid, some properties have different options: highest bid and proxy bid. What’s the difference? 

What is a proxy bid and how does It work?

Where a buyer cannot bid online at the time of the auction, we provide them with an option to place an automatic proxy bid which would be their highest bid. This allows the system to bid on their behalf up to and including this proxy bid.

Essentially a bidder is telling the system what the maximum they would go to and allowing it to place bids on their behalf up to and including that amount..

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Blogs

In the news… Express: Interest rate cut 'eases impact' of Autumn Budget's higher Stamp Duty rates

In the news… Estate Agent Today: Bamboo Auctions ‘set for best year yet’

What are the benefits of selling via auction?

Partner Showcase: Nest Estate Agents

In the news… The Negotiator: There’s a shed-load of interest in actions

Michael Graham partners with Bamboo Auctions

Why getting the pricing right matters

Are we in the midst of an ‘affordable’ housing crisis?

5 benefits of Selling Property at Auction

Traditional Auctions vs. Conditional Auctions

Bamboo Auctions hits milestone of 5,000 properties sold

Partner Showcase: Bradleys Estate Agents

Partner Showcase: Fisher German

Feature Update: Alto Integration

Starting, Guide and Reserve Prices

Understanding Bid Categories

Online Property Auctions: How Do They Actually Work?

Offering Online Property Auctions as an Estate Agent

How Online Auction Platforms Can Help Prevent Fall Throughs

Expand Your Market Reach

Non-Standard Auction Stock

Partner Showcase: Howkins and Harrison

Introducing Appraisal Advice

Unlocking the Potential of Property Auctions

Celebrating Auction Success

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