‘Like catching a falling knife’: Stand-off between wary buyers and hopeful vendors across Sydney auctions

PHOTO: There were tense scenes on auction floors on Saturday as buyers feared overpaying for properties while vendors were unwilling to budge on reserve prices.

There were tense scenes at auctions across Sydney on Saturday as buyers feared overpaying for properties while vendors were unwilling to budge on reserve prices.

Some agents found themselves in stand-offs, they said, with bidders and sellers determined to secure the best deal for themselves. One buyer likened the process of negotiating prices in a cooling market to “catching a falling knife”.

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