Auctions: Going, Going, Gone

What happened on The Block?

This year's houses were in Mount Eliza, on Victoria's Mornington Peninsula. Every house had the same reserve of $3.45 million, and all five sold above it. Brisbane best mates Courtney and Sev took out the win, with House 4 selling for $4.72 million after drawing 17 registered bidders, the most the show has ever had on one house (Domain has the full results).

The moment that stuck with us was at the other end of the leaderboard. Chantel and Wyatt went in fearing they'd walk away with nothing, and left $367,000 better off. That's what a room full of keen buyers can do.

It all played out under brand new auction rules in Victoria. So we thought it was the perfect time to catch you up on how auctions work here in Queensland.

The Block isn't your normal auction

There are TV cameras, a prize pool with a boat in it, and a crowd of fans who've watched every room reveal. It's great telly.

It's also Victorian. Victorian and Queensland auction laws aren't comparable, but when a show promotes an auction, it's natural to assume the same rules apply up here. They don't.

What's changed in Victoria?

For auctions held from 16 October 2026, Victorian agents have to publish the seller's reserve price as a single dollar figure at least seven days before the auction. If it isn't published in time, the auction can't go ahead. If the seller changes it, up or down, the seven-day clock starts again. Consumer Affairs Victoria has the details.

On The Block, every buyer knew the $3.45 million reserve well before the day, and a couple of the contestants reckoned that helped, because buyers could see the reserves were realistic.

So, how do auctions work in Queensland?

Queensland does it almost the other way round. The reserve stays private, and agents aren't allowed to give you a price for a home going to auction.

We know how that feels from the other side. You ring about an auction home, ask what it'll go for, and don't get a number. It's easy to think, "Rotten agents, they're just making life difficult." This is where we throw our hands in the air. We can't! It's Queensland law.

The Queensland Government's reasoning is simple: nobody can know how high the bidding will go (here's their guide to buying at auction).

So where do buyers get a feel for value? From their own homework on recent sales nearby, and sometimes from a comparative market analysis (a summary of what similar homes have sold for), which agents can hand over.

What actually happens on auction day?

Before it starts. Buyers register with the auctioneer and get a bidder number or paddle. The auctioneer reads out the conditions of sale, like the deposit, and can tell the crowd whether there's a reserve, but never what it is. Under Queensland's seller disclosure rules, the seller's disclosure statement and certificates also have to be available to bidders before the hammer falls.

The bidding. Someone opens, and it climbs from there. Before the reserve is reached, the auctioneer can bid on the seller's behalf and has to announce each one as a vendor bid. So if you hear "vendor bid", you know there's a reserve and it hasn't been reached yet.

On the market. Once bidding passes the reserve, the home will sell to the highest bidder. Auctioneers often announce it, but in Queensland they don't have to. If they do, it has to be true. And from this point, any bid made just to push the price up for the seller is illegal.

The hammer. When it falls, the highest bidder signs the contract on the spot and pays the deposit set out in the terms. There's no cooling-off period. It's sold.

If it's passed in. If the bidding stops short of the reserve, the home is "passed in". That's not the end of the road. The seller can keep negotiating with bidders after the auction, often starting with the highest one. If a registered bidder signs a contract within two business days of the auction, there's no cooling-off period on that either.

Who decides what your home sells for?

Not the agent. Not the seller. Buyers set the price, and as the seller, your call is whether to say yes.

An auction just makes that easier to see. Every bid happens out in the open, and the price lands where the second-keenest buyer drops out. But it's true however you sell. An agent's appraisal is an educated read of the market. A seller's number is what they'd like, and there's usually a good reason behind it. Neither one is the price until a buyer agrees to it.

So if your home is on the market and buyers aren't biting, it usually comes down to one of two things: the price, or the strategy. Strategy covers a lot, like how the home is presented, the photos, who sees the ads, the method of sale and the timing. Sometimes it's one, sometimes it's a bit of both.

As a seller, you have options

That's the good news in all of this. If one approach isn't landing, there's always another lever to pull, and you get a say in every one of them.

Auction is one option. It tends to shine when more than one buyer wants the same thing, and that's when sellers usually go for it:

Buyers compete in the open. Everyone sees every bid, and you see exactly where the competition stopped.

There's a deadline. A set date gives buyers a reason to get their finance, inspections and solicitor sorted, and to make a decision.

The contract is usually cleaner. Auction terms normally don't allow conditions like "subject to finance". When the hammer falls, it's done.

You stay in control. The reserve is your call, set in writing before the auction. The home won't sell under it on the day unless you say so.

When that competition isn't there, an auction can't create it, and another method might suit better. Offers over, offers to purchase, for sale by negotiation and off-market are all on the table in Queensland. We compared all five in Selling Methods Explained.

You can also change course. A home that's been on the market a while can relaunch with a fresh campaign or a different method. Changing tack isn't a failure. It's the market telling you something, and you listening.

Thinking of bidding? A few things worth knowing

Justin Nickerson is a five-time REIQ Auctioneer of the Year. His advice to bidders has always been pretty simple.

He's seen plenty of buyers do all the inspections and reports, then freeze on the day. It's not a battle of wits either. In his words, "You don't have to beat the agent or the auctioneer to secure the property."

And remember, The Block is in many ways theatre. There isn't a Danny Wallis, the show's famous big-spending bidder, at most auctions.

Before you raise your hand:

• Have your finance sorted, because you usually can't bid "subject to finance".
• Get a solicitor or conveyancer to look over the contract first.
• Do your building and pest inspections before the day, not after.
• Read the seller's disclosure statement.
• Ask the agent how much deposit you'll need and how to pay it.
• Set your limit, and stick to it.

And if you've never been to one, go and watch a couple first. Even the Queensland Government suggests it. It takes a lot of the nerves out of bidding.

Questions people ask about auctions in Queensland

It's your home, and probably the biggest thing you'll ever sell. You don't have to pick a method off a TV show. (Although a big congratulations to Queensland's own Courtney and Sev for being brilliant and taking out such a win!) You need someone who'll read the market honestly with you and help you choose the option that fits. If you're thinking about selling, we'll go through the recent sales near you and talk through each option side by side. Book a free property appraisal.

General information only and current as at November 2026. This isn't financial or legal advice. For advice specific to your situation, please speak with a qualified professional.

This article is independently produced by RealWay Property Partners and is not affiliated with or endorsed by Nine or The Block.