Auction & Sales

Commercial and residential property sale through auction, private treaty, tender or expression of interest

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Terms used in property auction

Bid:

A prospective buyer's offer of a price for the property. Generally, the auctioneer will establish the bid increments during the auction. Knight Frank auctions are held in-person. As such, bidding is done publicly in the auction hall.

Conditions of sale:

A set of standard terms and conditions that are applied to the sale and purchase of the property. Prospective buyers must agree to the conditions of sale before participating in the auction. 

Guide price:

A set of standard terms and conditions that are applied to the sale and purchase of the property. Prospective buyers must agree to the conditions of sale before participating in the auction. 

Opening bid:

The first bid offered by a bidder at the auction.

Opening price:

The opening price is the starting price for the property on auction. It may or may not be the same as the guide price.

Private treaty:

Property transaction in a sales mode other than auction or tender.

Reserve price:

The reserve price is the minimum price that you set for the sale of the property. The reserve price is not known to prospective buyers. If the highest bid falls below the reserve price, you may still choose to accept the highest bid.

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Testimonials

We appointed Knight Frank for the sale of a shophouse at Ang Mo Kio, The team secured interested parties to bid at the auction and sold the property at a price far higher than would have been achieved by private treaty. We are happy with the result and recommend auction as a mean to fetch higher prices.

Rosie CH Teo

December 2022

We engaged Knight Frank for the sale of our shophouses at Dunlop Street. The team handled the sale efficiently and professionally. The co-owned properties were knocked down above our reserve price in an open, fair, transparent, and competitive bidding process. We could not have asked for a better mode of sale.

William Teo, Apparel International

July 2021

Knight Frank assisted in the estate sale of Torieview Mansions which belonged to my late parents. Throughout the process, we experienced professional and responsive service that exceeded our expectations.

Elsie Cheong

February 2023

Our family home was sold by auction withing two months of our first meeting with Knight Frank Auction team. The process was smooth and deftly managed by the team. Potential buyers were present to bid in a transparent manner. Knight Frank was able to secure a price that was $70,000 above our reserve price.

Joyce SY Tan

May 2019

Ms Lock Sau Lai responded promptly to my enquiries on a shophouse put up for sale. She showed professionalism and diligence in following up with my questions and provided detailed information that led to our successful purchase of the shophouse.

Arthur Law

May 2021