In this episode, Veronica and Meighan sit down with auctioneer Peter Burgin to unpack what really happens on auction day. Together, they explore what not to do at a property auction, how emotions quietly influence bidding decisions, and why so many buyers lose properties for reasons that have nothing to do with price. This conversation is especially valuable for anyone buying a property for the first time and feeling unsure about how auctions actually work.
Rather than trying to turn you into a "perfect bidder," this episode focuses on helping you show up prepared, confident, and clear on your limits—so you can make smart decisions, even under pressure.
🧠 The psychology behind auction day pressure
Many buyers think they're ready for auction day because they've set a budget. But as Peter explains, a lot of first home buyers base that number on what they hope the property will sell for, not what they can realistically stretch to if competition heats up. This is one of the most common auction mistakes first home buyers make, and it often leads to regret once the hammer falls.
Auction pressure doesn't just come from price—it comes from the crowd, the auctioneer's pacing, and other bidders who appear confident. This is particularly challenging for nervous buyers, who may freeze or second-guess themselves when things move quickly. If auctions make you nervous—especially if it's your first time bidding—this episode breaks down why preparation isn't just about knowing your number, but pressure-testing it and understanding how you'll react emotionally on the day.
🎭 How auctioneers read you (and how to stay in control)
One of the most eye-opening parts of this conversation is how much buyers communicate without speaking. From a hesitation before bidding to a quiet conversation between partners, Peter explains how auctioneers and other bidders read these signals in real time.
For auction beginners, this is crucial to understand. Confidence—whether real or perceived—can shape how others behave in the room. Likewise, uncertainty can invite more competition. Learning how to bid at auction in Australia isn't just about raising your hand; it's about being aware of your body language, staying grounded, and not letting external pressure dictate your decisions.
💸 The problem with tiny bids (and why $1,000 increments trap buyers)
Many first home buyers believe small bids are a safe way to stay in control. In reality, this is one of the most misunderstood auction bidding tactics. While $1,000 increments can feel cautious, they often drag buyers into long, exhausting bidding wars that wear them down emotionally.
Peter explains when smaller bids can work—and when they simply prolong the pressure. For buyers looking for auction tips for beginners in Australia, this section is a powerful reminder that strategy matters more than habit. A strong, well-timed bid can sometimes do more than ten small ones, especially when the goal is to reduce competition rather than fuel it.
⚡ Strategic bids, knockout moves & knowing when to walk
There's no single formula for success at auction, but there is a need for a strategy that fits your situation. This episode explores different first home buyer auction strategies, including when a bold bid can work in your favour—and when it can completely backfire.
Peter also addresses common myths buyers hear during the buying a property journey, like "never bid early" or "always wait for the third call." These rules of thumb might sound helpful, but without context, they often lead buyers astray. Understanding why you're bidding—and when—is far more important than following generic advice.
🚫 How to avoid losing the property for the wrong reason
One of the strongest messages in this episode is simple: don't lose the property for the wrong reasons. Many buyers stop bidding not because they've reached their limit, but because they feel intimidated, don't want to "lose" to the agent, or assume someone else has an endless budget.
If you've been searching for auction tips for first home buyers, this is a critical mindset shift. Knowing the difference between a genuine stop point and a fear-based one can save you from one of the most painful outcomes in the buying home process—missing out when you didn't have to.
🎯 By the end of this episode, you'll have a clearer understanding of what not to do at a property auction, how auction dynamics really work, and how to approach your first auction with confidence instead of overwhelm. Whether you're actively buying a property or just starting to learn the ropes, this episode will help you feel informed, prepared, and in control.
