No good I'm afraid. I made one bid after a pause in the bidding but it ended up shooting past our limit (470k) and ended up selling for 501k. I was a lot more nervous than I thought I'd be, but I know that if I ever bid again, I wouldn't be so nervous. An asian guy and a lebanese couple fought each other at the end with the asian winning out at 501k. My fiance is reluctant to go to any more auctions now as we spent money on building inspection, but at least we didn't waste money on pest report, survey report and final bank loan approval (low risk because we have a more than reasonable deposit) which would have cost us a lot more. My tip on bidding is to wait until the hammer is about to fall, then go in for the kill. But it didn't work for us because two others had more in the tank than us in the end. We are now looking at buying a house or maybe townhouse in Belmore area (roughly) Sydney (non-auction). The auction was in Belmore also. I don't really think too much of the area but my fiance wants to be as close as affordable to the inner west and still have good transport options.

Thanks Guys. Yes, I think I'll have to get a chequebook in order to pay them the 10% on the day (hope that works but will confirm proir). And thanks for the info about registering (upto auction time). Wish me luck as there is a lot of interest in this particular house. Is there a more auction info thread here, I did a search but it didn't appear to be so. I did find an interesting thread entitled "stupid auctions" which was interesting. I wish to be as informed as possible about auctions before I go.
Cheers