Most sellers have never seriously considered an auction. The word conjures images of distressed properties or quick-fire sales. The reality — at least through the Harcourts Luxury Auctions platform — is almost entirely the opposite.
The Core Difference: Pricing Up vs. Pricing Down
In a traditional listing, you set a price and hope buyers offer close to it. You're essentially price-anchoring downward — signaling to the market exactly what you think the home is worth, and inviting buyers to negotiate you lower. In an auction, you set a starting bid (or reserve) and create a structured competitive process that prices the property upward. Buyers compete against each other rather than against a number.
The Numbers Are Hard to Argue With
- 86% total clearance rate — meaning 86% of auction listings sell successfully.
- 38 days average time on market — faster than most traditional listings in comparable markets.
- 96% receive an offer before auction day — meaning most sellers never even get to the live event.
- 300% more online traffic than equivalent traditional listings (Zillow data).
Who Auction Is Best For
Auction tends to work best for: motivated sellers who want certainty and speed, properties that are genuinely unique or hard to comp, sellers who want to eliminate contingencies and time wasted on unqualified buyers, and luxury properties where market exposure is the primary driver of outcome. It's not ideal for sellers who are purely fishing for a maximum number with no timeline pressure.
The 3-Stage Process
The Harcourts Auction process runs in three stages. Pre-Auction: open houses, inspections, disclosures, and marketing — 41% of properties sell here. Auction Day: live competitive bidding with all buyers present — 48% sell here. Post-Auction: continued negotiation with remaining interested parties — 11% sell here. The total 86% clearance is not an accident. It's the result of a structured process designed to maximize both exposure and urgency.
The 78 Pelican Court Case Study
My current listing at 78 Pelican Court in Bayview Terrace is running through the Harcourts Auction platform with a starting bid of $1,500,000. Open houses have been well-attended, and buyer interest has been strong. This is a live example of the process working in real time in this very market.
Curious if Your Home Is a Good Candidate?