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Opinion

Copy that: cautionary tales for rookie online investors

David Chaplin
Wed, 16 Dec 2020

Copy that: cautionary tales for rookie online investors
David Chaplin
Wed, 16 Dec 2020
Subject to certain constraints owner self-bidding at property auctions is perfectly legal, in New Zealand anyway.According to the NZ government website Settled, sellers can put their hand up for their own properties at auction only if the offer is below a stated reserve price and the auctioneer discloses it as ‘vendor bid’. Vendor bids serve as a kind of crowd-warming act allowing “the seller or their representative... to encourage buyers to get their bids closer to the reserve price”, Settled says.  Legal or n...

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