EXAMPLE
Example house in Paddington
Paddington, QLD 4064 · Example auction Sat, 24 Oct, 10:30 am
4 bed2 bath2 carHouse
BidAI example estimate$1,410,000–$1,530,000
BRISBANE · QLD AUCTION GUIDE
Buying at auction in Brisbane
Auctions have become a regular part of buying in inner Brisbane, but Queensland’s rules are quite different from Sydney’s and Melbourne’s. The biggest difference is that the agent can’t tell you a price. That makes your own research, and a firm walk-away number, even more important.
No price guides for auction properties
Queensland agents aren’t allowed to state a price guide or expected price for a property going to auction, even if you ask. Instead, they can give you comparable sales information. Do your own research on recent sales of similar homes nearby, adjusted for land size, condition, flood overlays and renovation work. That evidence becomes your property ceiling.
Registration and the rules on the day
Bidders in Queensland must register with the auctioneer or agent before bidding and provide identification. The auctioneer will explain the conduct of the auction, including whether the seller is allowed to bid. Listen for how vendor bids will be announced.
No cooling-off at auction
A contract signed at auction in Queensland has no cooling-off period. Arrange building and pest inspections, check flood and planning information, and have your solicitor review the contract before the day. Expect to sign the contract and pay the agreed deposit straight after the auction.
Setting your walk-away number
Because you won’t get a price from the agent, your walk-away number has to come from your own evidence and your finances: the lower of your property ceiling and your finance ceiling, after transfer duty, legal costs, repairs and a buffer. BidAI helps you put that number together before auction day.
Example Brisbane auction cards
Example listings. These cards illustrate how BidAI presents an auction: an estimated range, comparable sales and the auction date. They are not real properties for sale, and the photos are stock images.
EXAMPLE
Example apartment in New Farm
New Farm, QLD 4005 · Example auction Sat, 31 Oct, 11:30 am
2 bed2 bath1 carApartment
BidAI example estimate$890,000–$960,000
Working out a walk-away price: an illustration
These figures are made up to show the method, not a forecast for any Brisbane suburb. Say comparable sales point to a property ceiling of $1,050,000 for the home you want. Separately, your pre-approved loan plus the deposit you can put in comes to $1,120,000. From that you take stamp (transfer) duty, legal and conveyancing costs, the repairs you know you’ll need and the buffer you want to keep in the bank. Suppose those come to $90,000, leaving a finance ceiling of $1,030,000. Your walk-away price is the lower figure, $1,030,000, even though the evidence says the home could be worth more. Put your own numbers into the walk-away price calculator, which works out QLD stamp duty for you; see QLD stamp duty explained.
Sticking to your walk-away price on the day
Decide in advance who bids and agree that the number is final. Bid in clear, confident amounts, and if the auctioneer asks for a rise you didn’t plan, you can offer a smaller one. Keep the running total in your head against your walk-away price, not against what the last bidder offered. If the property passes in below the reserve, the highest bidder usually gets the first chance to negotiate, and your walk-away price still applies in that room. If bidding passes your number, stop and move on to the next property on your watchlist.
A simple auction-week checklist
- Confirm your loan pre-approval is current and covers this property type.
- Get the contract reviewed by a solicitor or conveyancer.
- Order building and pest inspections, and check strata records if relevant.
- Gather at least three recent comparable sales and adjust for differences.
- Work out stamp/transfer duty, legal costs and any immediate repairs.
- Set your walk-away number and decide who will bid.
Frequently asked questions
Why won’t a Brisbane agent tell me the price for an auction?
Queensland law prevents agents from giving a price guide for properties going to auction. They can provide comparable sales so you can form your own view.
Is there a cooling-off period at auction in Queensland?
No. Contracts signed at auction don’t have a cooling-off period, so do inspections, flood checks and legal review before you bid.
Do I need to register to bid in Brisbane?
Yes. Bidders must register before bidding and provide identification, and the auctioneer explains the rules before bidding starts.
How can BidAI help without a price guide?
BidAI focuses on evidence and your own finances. You build a property ceiling from comparable sales and a finance ceiling from your budget, then use the lower one as your walk-away number.
General information only, current as of October 2026. Auction rules are set by each state and can change. Check the Queensland Office of Fair Trading and get independent legal and financial advice for your situation.
Work out your walk-away number
Use the free walk-away price calculator to see the most you can bid once stamp duty and buying costs are covered.