Making an offer

Buying at auction in Queensland

The Queensland auction rules from registration to the fall of the hammer: vendor bids, the reserve, the deposit, cooling-off and what happens if a property is passed in, each cited to the Queensland Office of Fair Trading.

Queensland auction rules at a glance

Cooling-off: None at auction, or on a follow-up sale to a registered bidder before 5pm on the second business day after an unsuccessful auction (Queensland Government (Office of Fair Trading), verified 12 Aug 2026).

Rules as at the date on each citation, from the Queensland Office of Fair Trading. The Queensland Government's auction page is written for auctioneers; it was last updated on 19 October 2026.

Registering to bid

The auctioneer must register every bidder before the auction starts, check suitable identification such as a driver's licence, give each one an identifying marker such as a numbered card or baton, and announce that only registered bidders may bid (Queensland Government (Office of Fair Trading), verified 12 Aug 2026).

The contract and its conditions

The auctioneer must disclose the conditions of sale, including the required deposit, before bidding (Office of Fair Trading Queensland, verified 22 Oct 2026).

The reserve price

The auctioneer must ask the vendor whether they have set a reserve, which the vendor puts in writing; if none is set, the auctioneer must advise the vendor in writing that they will have to accept the highest bid; and the auctioneer must not disclose the reserve to anyone other than a person acting for the seller (Office of Fair Trading Queensland, verified 22 Oct 2026).

A penalty of $34,540 applies if the auctioneer doesn't do this (Office of Fair Trading Queensland, verified 22 Oct 2026).

If the vendor sets no reserve, the property is on the market from the first bid (Office of Fair Trading Queensland, verified 22 Oct 2026).

Vendor (seller) bids

The auctioneer may accept a bid from the vendor only up to the reserve price, and must disclose every vendor bid (Queensland Government (Office of Fair Trading), verified 12 Aug 2026).

Once bidding reaches or passes the reserve, the property is on the market and vendor bids stop: the vendor must then accept the highest bid (Queensland Government (Office of Fair Trading), verified 12 Aug 2026).

Dummy bidding

The Queensland Government's auction page does not cover dummy bidding.

When the hammer falls: signing and the deposit

The Queensland Government's auction page gives no deposit amount; the required deposit is in the conditions of sale the auctioneer must disclose before bidding (Office of Fair Trading Queensland, verified 22 Oct 2026).

Cooling-off

There is no cooling-off period for a property bought at auction, or on a follow-up sale before 5pm on the second business day after an unsuccessful auction to a buyer who was a registered bidder at it (Queensland Government (Office of Fair Trading), verified 12 Aug 2026).

If the property is passed in

The Queensland Government's auction page does not describe what happens when a property is passed in.

A follow-up sale to a registered bidder before 5pm on the second business day after an unsuccessful auction carries no cooling-off period (Queensland Government (Office of Fair Trading), verified 12 Aug 2026).

For how auctions run everywhere, and every state side by side, see buying at auction in Australia. For cooling-off, the contract, the deposit and settlement on a private sale too, see buying a home in Queensland.

Common questions

Is there a cooling-off period at auction in Queensland?

There is no cooling-off period for a property bought at auction, or on a follow-up sale before 5pm on the second business day after an unsuccessful auction to a buyer who was a registered bidder at it.

What do I sign and pay when I win an auction in Queensland?

Deposit as set in the conditions of sale.

How do vendor bids work in Queensland?

The auctioneer may accept a bid from the vendor only up to the reserve price, and must disclose every vendor bid.

Practical checklist

Before an auction in Queensland

• Finance approved for this property and your limit, not just pre-approval in principle
• Building and pest inspection, and strata records for a unit, done before the day
• Contract and vendor disclosure read by your conveyancer or solicitor, with any changes asked for in writing before the auction
• Your walk-away limit written down, and the bidding plan for whoever bids
• Proof of identity for registration, and a letter of authority if bidding for someone else or a company
• The deposit ready in a form the agent accepts, confirmed with the agent beforehand
• Arrive early to read the rules or conditions on display and hear the auctioneer's opening statements
• If you win: get a copy of the signed contract, tell your lender, and arrange insurance from the date your contract says

Questions for a professional

• Is there anything in this contract or the conditions of sale I should ask to change before the auction?
• What happens to my deposit if my finance falls through after I win?

Official resources

• Queensland Government: auctioning a property
• Queensland Government: cooling-off period for residential property contracts

Sources and methodology

• Auctioning a property — Queensland Government (Office of Fair Trading) (retrieved 12 Aug 2026). Licence: Queensland Government content, reproduced for research/citation purposes
• Auctioning a property | Queensland Government — Office of Fair Trading Queensland (retrieved 22 Oct 2026). Licence: CC BY 4.0
• Cooling-off period for residential property contracts (for buyers only) — Queensland Government (Office of Fair Trading) (retrieved 12 Aug 2026). Licence: Queensland Government content, reproduced for research/citation purposes

Figures on this page are drawn from Delora's local knowledge graph, refreshed from these primary sources and checked for changes on a regular schedule. If a figure here looks out of date, the official source above is always the authority — please let us know.