Auctions

The reserve price is the minimum figure you are prepared to accept. It is set in consultation with your agent, based on comparable sales, market demand, and your objectives. This figure remains confidential and ensures you remain in control of the outcome.

When the hammer falls, the sale is binding. The successful bidder must immediately sign the contract and pay a deposit, typically 10% of the purchase price. Our team facilitates a seamless exchange of contracts along with notifying your solicitor. This assists in facilitating a smooth transition to the settlement phase.

Yes. Your property cannot be sold below the reserve price without your consent. This safeguard provides certainty while still enabling competitive bidding to push the final sale price higher.

If bidding does not reach the reserve, the property is “passed in,” meaning it is not sold under the hammer and moves into negotiations. In this situation, the highest bidder is usually given the first opportunity to negotiate, and your agent will then engage with all interested parties to achieve the best possible result.

There is a fixed fee for the auctioneer and associated administration. Marketing costs are flexible and tailored to your property, with strategies that may include listing portals, signage, print advertising, social media campaigns, and email marketing. Your agent will recommend a customised package designed to maximise exposure and generate strong buyer competition.

Our auctions are scheduled on preset dates, with each campaign generally running for five to six weeks. This period allows for property preparation, targeted marketing, buyer inspections, and feedback before auction day. The fixed date creates urgency in the market and provides you with a clear and defined timeframe for the sale of your property.

Commercial Collective partners with Reynolds Auctions, led by Gavan Reynolds. With more than two decades of experience, Gavan is renowned for his professional, client-focused approach and his ability to achieve outstanding results.

Auctions are held in our dedicated in-house auction room at 10 Newcomen Street, Newcastle, as well as online. The venue is fully managed by our team and equipped with modern technology, catering, and support staff to ensure a seamless experience.

Yes. Our online bidding platform enables buyers to participate from anywhere, expanding the reach of your campaign. During the auction, participants can follow bidding in real time and place offers with confidence, giving your property exposure to a broader buyer pool and maximising competition.

On the day of the auction, our experienced auctioneer manages the proceedings, creating a competitive environment to extract the optimal value for the property. Bidders have the opportunity to openly compete, fostering a transparent and fair process.