Victoria will make sellers publish reserve prices before auctions — what buyers should do

# What's changing From 16 October 2026, auctions and fixed‑date sales in Victoria must display the seller's reserve price at least seven days before the sale. Agents must publish the reserve as a single dollar figure in advertising and in the Property Price Statement. If a reserve is changed, the revised figure must remain public for seven days before the sale can proceed. If a reserve hasn't been published in time, the auction or fixed‑date sale cannot go ahead.

# Why this matters to buyers

# How to use the reserve without letting it drive you Start with your own valuation before the reserve appears. Look at genuinely comparable sales, then adjust for land size, building condition, location nuances and any immediate costs you will face after purchase. If you're investing, estimate the property's likely appeal to tenants and owner‑occupiers over time and factor those cashflow and capital considerations into your maximum price.

Once the reserve is published, compare it with your pre‑set maximum. If the reserve is below your value, the property may warrant continued interest. If it's above your maximum, you can still attend the auction but be prepared to walk away. A pre‑auction offer or negotiation after the sale remains possible, but don't assume those options are easier or cheaper than bidding within your limits.

# Practical auction strategy adjustments

• Begin due diligence early. Because the reserve may be released only seven days before sale, leaving inspections, contract review and financing checks until then risks rushing critical steps.
• Use the Property Price Statement and its comparable sales as a starting point, then make your own condition and location adjustments.
• Decide your absolute maximum before you see the reserve, and treat the published reserve as information that helps decide whether to participate, not a new ceiling for bidding.
• On auction day, avoid increasing your limit simply because the auction has started. The seller's willingness to accept the current bid isn't the same as the property's suitability for your needs or budget.

# Other practical points The disclosure rule covers more than Saturday auctions. Consumer Affairs Victoria has confirmed that boardroom auctions and fixed‑date "invite offers by" campaigns fall under the requirement. An ordinary pre‑auction offer can still be accepted at any time without waiting seven days.

# Bottom line The reserve disclosure reduces surprise and helps buyers self‑screen earlier in a campaign. It does not replace independent valuation or disciplined bidding. Do your homework early, set a maximum price based on your assessment, and use the published reserve to confirm whether to proceed — not as the sole decision trigger.