Common Auction Myths That Stop People Selling (and the Truth Behind Them)

Property auctions have come a long way from the days when they were thought of as a last resort for distressed homes. Yet, even with more sellers choosing this route, a handful of stubborn myths still put people off. If you’ve ever thought “auctions aren’t for me,” there’s a good chance you’ve heard-  and believed - one of them.

Let’s set the record straight. Here are the most common misconceptions about selling at auction, along with the facts you need to know.

Myth 1: Auctions are only for repossessions or rundown properties

For years, auctions were associated with bank repossessions and fixer-uppers. While those properties still feature, they’re just a small part of the picture today.

Sellers now use auctions for all sorts of reasons - from wanting a faster sale to avoiding the uncertainty of private treaty transactions. Many properties sold at auction are in excellent condition, with motivated sellers looking for speed, certainty, or both.

If you want to see how modern auctions have evolved, have a look at our post on Why the Modern Method of Auction Could Be Your Plan B That Works.

Myth 2: You’ll never get market value

One of the biggest fears sellers have, is that their property will be “snapped up cheap” at auction. The truth? Competitive bidding can often push the price up rather than down - especially when the auction has been marketed well.

Setting a realistic reserve price (the minimum you’re willing to accept) ensures your property won’t sell for less than you’re comfortable with. And because auctions create urgency, serious buyers tend to show up ready to compete.

For more insight into reserves and how they work, check out What Happens if Your Property Doesn’t Sell at Auction?

Myth 3: Auctions are only for cash buyers or investors

It’s true that some buyers at auction are investors, but they’re far from the only audience. Thanks to the modern method of auction, many sales now allow buyers to use a mortgage, opening the door to first-time buyers and home movers who may have never considered auctions before.

This broader pool of buyers increases your chances of achieving a strong sale price. It also means your property can appeal to a much wider market than just landlords or developers.

We break this down in more detail in Why More UK Homeowners Are Choosing the Modern Method of Auction Over Traditional Sales.

Myth 4: Auctions are risky and stressful

Some people imagine auctions as fast-paced, high-pressure environments where mistakes are easily made. In reality, when you work with a professional auction company, the process is straightforward and transparent.

Before the auction, your solicitor prepares a full legal pack so buyers know exactly what they’re bidding on. Viewing days, clear marketing, and set timelines give both sides confidence. And because auction sales are legally binding once the hammer falls (or the reservation fee is paid in the modern method), you avoid the dreaded “buyer pulling out” scenario.

If you’re curious about the legal side, read our guide on The Legal Essentials of Selling Property at Auction.

Myth 5: Auctions have lots of hidden fees

Another common worry is that auctions come with high or unexpected costs. The truth? All fees are clearly set out in advance - both for the seller and the buyer.

Sellers often find the costs comparable to estate agency fees, and because auctions can achieve a sale faster, there’s no need to budget for months of ongoing mortgage payments, council tax, and utilities while you wait for completion.

Buyers’ fees, such as the reservation fee in the modern method, are also clearly disclosed. This transparency is part of what makes auctions appealing to both sides. You can read more in The Role of the Reservation Fee in the Modern Method of Auction.

Myth 6: You have to be ‘in the room’ to take part

Thanks to online auction platforms, bidding can happen from anywhere with an internet connection. This flexibility has opened the market to buyers across the UK - and overseas - increasing competition for your property.

Whether it’s a live-streamed event or timed online bidding, you’re no longer limited to those who can attend in person on the day.

The real picture

Selling at auction isn’t just about speed - though that’s a major advantage. It’s about certainty, transparency, and reaching motivated buyers who are ready to move forward.

Many of the myths that keep sellers away are based on outdated views of how auctions used to work. Today’s auctions, especially when handled by experienced professionals, offer a modern, flexible alternative to the traditional property market.

If you’re weighing up your options, don’t let misconceptions hold you back. A quick conversation with our team can help you understand how an auction could work for your property and your timescale.

Thinking about selling?

Get in touch with The Auction Experts today for a no-obligation chat. We’ll guide you through your options, explain the process in plain English, and help you decide whether an auction is the right move for you. Call us on 0330 179 8180 or email info@theauctionexperts.co.uk