Minimum offer increase

[Old Jim]

I wanted to put a bid on a property so increased the previous bid by €500. EA says min offer increase was €1000. Is this a devious way to increase his commission? What do others think? Fair enough you don't want people bidding in amounts of €50, but €500 is a considerable amount of cash, to me anyway!

 

[jdf]

he is just playing silly buggers with you. I had the same when I bought this place. I just stood my ground. If he won't accept your bid take it direct to the vendor and then report him / her to whichever body he is associated with.

 

[892896]

500 Euro of an increase would hike the auctioneers commision by about 5 Euro, assuming a 1% comission. In fairness, that isnt a kings ransom?

 

[the digger]

He doesn't want people wasting his time lobbing in bids at € 500 a pop.

Hard to argue with it, really.