Auctions can be a very confronting part of the homebuying process. Should you open the bidding? Do you stand right in front of the auctioneer, or at the back of the crowd? How big are your bid increments? What happens if the property passes in?

Alice Stolz, National Property Editor at Domain, and Fear & Greed's Michael Thompson put together the ultimate guide to bidding at auction, with strategies that change depending on how the market is swinging.