Introducing Thailand's dedicated online property auction from the comfort of your own chair
Why buy a property at an online auction?
An online auction provides a transparent platform that connects motivated sellers with buyers looking for properties at attractive prices.
The online auction actual mechanism ensures that all buyers are treated equally and access the same information before bidding, ensuring a fair and equitable process.
The auction process itself has stood the test of time as a reliable and functional method of buying and selling as it has endured for thousands of years.
The advent of the online auction vastly increases the number of buyers and sellers who can enjoy a successful, transparent and equitable outcome by applying modern communication methods to a tried and tested buying and selling process.
The online auction allows you to buy from the convenience of your chosen location. It negates the need to travel to an actual auction venue, and allows you to buy whilst observing correct social distancing protocols.
Benefits at a glance
Thailand's online property auction benefits everyone involved
How to register and provide a deposit
Buying a property is often the biggest purchase you are likely to make, and we have developed the following protocols to ensure a simple and safe way to do so. The biggest question we get asked from first-time bidders is why we ask for a deposit just to bid? Well, the answer is threefold. Firstly, we need to know the bidder is serious. Secondly, to get sellers to offer reduced properties, they want to know the bidders are serious. Finally, on successful bids and offers, the deposit goes towards the buyers premium, then we invoice you for the balance. Unsuccessful bids and offers are refunded within 7 working days or less, depending upon your payment method.
Buyers should note that you will have only one chance to buy any particular property lot because if a property lot does not sell at the seller’s reserve price or higher, the seller can not resubmit the same lot in a new auction for a period of at least 6 months.
How do I bid on a property?
Once you have found a property you like you can make an offer or place a bid
When you have created your account, you will need to send a deposit to bid or make an offer. The deposit lets the seller and us know that you are serious. If you are unsuccessful with your bid or offer, you’ll receive a full refund.
Ensure you read and understand the special conditions of sale for each Lot before making a bid or offer.
Before bidding, we ask you to provide details of your identity (as bidding, you are entering into a legal contract to purchase) and giving a deposit to enable you to bid.
Deposit Payment Methods
- Account Name:
Auction Co., Ltd.
- Account Number:
- Bank Name:
Krungsri Bank (Bank of Ayudyha)
- Branch Address:
88/259 Sukhumvit Road, Moo 9, Bang Sare, Sattahip, Chonburi 20250, Thailand.
Presenting a cashiers check for 100,000 baht payable to บจก. อ็อคชั่น (This should be in English company Name or both) at the offices of Auction co ltd. 88/259 Moo 9 Road Sukhumvit Bang Sare Sub-district Sattahip District, Chonburi 20250. If your bid/ offer is successful, this amount will be put towards the required payments as detailed in the special terms and conditions for each Lot. If your bid is not successful, your check will be returned to you.
You are depositing 100,000 baht in cash with Auction Co Ltd at 88/259 Moo 9 Road Sukhumvit Bang Sare Sub-district Sattahip District, Chonburi 20250.
If your bid/ offer is successful, this amount will be put towards the required payments as detailed in the special terms and conditions for each Lot. If your bid is not successful, we will return your cash to you.
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Below are some of the most frequently asked questions from buyers
You can view the property by making arrangements with our staff. Please use the contact form below.
Yes, you need to pay a deposit to bid and comply with the auction conditions regarding payment.
We don’t allow sellers to resubmit their property to a new auction if the property does not sell in the first auction. This policy is presented in order to incentivize sellers to provide the lowest Reserve Price from the beginning with the knowledge that buyers will have just one chance to buy.
We will notify you by email, and you should refer to the special conditions for sale for each Lot and follow the payment instructions given there. Our staff are available to help you through this process.
The buyers deposit will be refunded if you are not the successful bidder or your offer is not accepted.
To ensure that when you make a bid or offer, you are a genuine buyer.
If your bid/offer is successful, you will pay the amount bid/offered plus the buyers premium and any other detailed costs in the Special Conditions of sale for each Lot. Make sure you read and understand the Special conditions of sale for each Lot before making a bid or offer.
There is a Buyers Premium of 10.7% payable to the Auctioneer in addition to the Bid (or Offer) price.
You should download the Legal Pack for each Lot on which you intend to Bid or Make an Offer as this contains The Special Conditions of Sale for each Lot and the answer to the question “What is Payable by the Buyer”.
The property is transferred to you when the sale is completed, which usually occurs at the local land office 14 days after the sale assuming all the required payments have been made.
If you are not familiar with Buying property in Thailand, we advise you to instruct a lawyer to assist you.
If you are an unsuccessful bidder or your offer is not accepted, you may collect your cheque the day after the auction, and any unused deposits paid will be transferred back to your account within two days of the auction.
Whether you're a newbie or an old hat, we want to be crystal clear
The bid is the amount a buyer offers to pay for a lot. The bid price is then subject to the buyers premium as set out in the legal pack for each lot.
The amount by which the next bid must exceed the previous bid.
The seller may offer a “Buy Now” price, which, after adding the buyers premium, will be the amount that is payable together with any fees as described in the legal pack for that lot.
The default buyers deposit is 100,000 THB and allows approved registered users to bid, make an offer or buy now. The deposit is our method to qualify potential buyers. If unsuccessful in the bidding or make an offer, the deposit will be refunded.
10.7% of the successful bid or offer price. The deposit paid will be included, and you will need to pay the remaining balance.
General Terms & Conditions of Sale
An important document that both the buyer and the seller should understand.
The legal pack contains important documents and information relating to the auction and the specific lot.
Whatever is being offered for sale in the auction.
Make An Offer
A buyer may make an offer at any time before or after the auction. The seller has the option to accept the offer or continue with the auction process.
The amount at which the bidding will start.
The reserve price is the minimum bid price that the seller will accept.
The sale price is the amount the buyer pays for the lot. It excludes the buyers premium and any other costs detailed in the Special Conditions of sale for each lot.
Special Terms & Conditions of Sale
An important document that both the buyer and the seller should understand as it forms part of the legal contract between the buyer and seller is established as a function of the auction process and is specific to the lot under consideration. The Special Terms may vary to the General Terms and Conditions.
The total price is the amount the buyer pays. The total bid or offers price plus the buyers premium and any other costs detailed in the Special Conditions of sale for each lot.
Send us a message
The team look forward to hearing from you. We want to hear your questions, ideas, and suggestions to make a great service even better.