Whether you’re a seasoned landlord, a homeowner ready to move on, or just auction-curious, let’s bust five of the most common (and frankly outdated) auction myths once and for all.

1. “You’ll only get a bargain-basement price”

Wrong. So wrong.

The idea that auction properties always sell for peanuts might have been true decades ago—but today’s auction world is a very different place. When marketed properly, and pitched at the right guide price, properties at auction can sell for just as much (if not more) than through an estate agent.

In fact, because competitive bidding drives the price up in real time, it’s not uncommon for sellers to walk away with more than they expected—without the months of back-and-forth that come with private sales. If you have a vintage car, vintage drinks or an expensive painting, wouldn't you sell those at auction to get a good price? So why should that differ with housing!

2. “Auctions are only for problem properties”

While auctions are a great tool for selling unusual or unmortgageable properties, that’s far from the whole picture. We sell all kinds of properties: terraced homes, flats, tenanted investments, commercial units, land, garages—you name it.

And it’s not about “problem” properties, it’s about speed, certainty, and simplicity. People choose auction because it’s efficient—not because their property is flawed.

3. “Only cash buyers can bid”

This one comes up a lot. Yes, cash buyers are often in the mix, but buyers can absolutely use finance to buy at auction. Many use bridging loans or auction-specific mortgage lenders who understand the shorter timelines.

The key is that buyers need to have their ducks in a row before bidding. But isn’t that a good thing? It means less faffing about, fewer collapsed sales, and a whole lot less stress for you as a seller.

4. “You have to be desperate to use an auction”

Nope. Savvy? Yes. Strategic? Definitely. But desperate? Not at all.

Many of our sellers are landlords restructuring their portfolios, homeowners who want a quick move, or executors managing probate sales.

They come to us not out of desperation, but because they know auction means certainty. Once the hammer falls, that sale is legally binding. No gazundering, no buyer suddenly going quiet. Just results.

5. “It’s too risky”

What’s riskier: a sale where the buyer can walk away at any point, or one where contracts are exchanged immediately and completion is set within 28 days?

Auction takes the uncertainty out of selling. No chains, no flaky buyers, no lengthy negotiations. If anything, not using an auction might be the riskier option—especially if you’re working to a deadline or need to release funds quickly.

Final Thoughts

Property auctions have changed, and so should the way we talk about them. At Smart Auction UK, we’re on a mission to modernise the way people buy and sell property—and that means shaking off the myths that no longer apply.

So, next time someone says, “Oh, you’re using an auction? Is everything okay?”—you can smile, nod, and say, “Absolutely. That’s why I’m doing it.”

Want to chat more about whether your property is right for auction? We’d love to help—no myths, just honest advice.

We do it with no fees to sell, no pushy sales tactics, and no false promises—just an honest, flexible service designed to get you the result you need.

Have a look at our properties for sale here. You can also learn how we can sell property for free!

Got a property to sell? Call us or send us an enquiry.