New Auction site lets investors bid from home

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By Robert Carry

A new website developed by a pair of Sydney and Melbourne-based auctioneers has enabled investors to bid on properties without leaving their homes.

Soldonline.com.au, which is run by leading auctioneers David Scholes and Brian Edmonds, provides an alternative to physical auctions.

Scholes told The Australian Financial Review that he believed online auctions were the logical next step for consumers in the real estate industry. "You open up the property to a much wider market than either a standard auction or private treaty campaign can offer," he said. "The ability to bid from anywhere in the world allows you to widen your market much further than your local-vicinity buyers."

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