Sydney, NSW (May 16, 2008) – “There’s no bigger purchase - and few are more important – for most of us than buying a home or investment property. And imagine you have found your dream home, but you can’t be at the auction – because of various reasons such as being called away on a business trip, being interstate or overseas.

“Ptyauctions.com.au provides live webcasts of real estate auctions, which allows you to see and hear the auction live and bid for the property on your computer screen.

“It’s like you are in the room – you can see the auctioneer and you can see the bids on the screen, so you know exactly where the auction is at all times. We simply bring the auction to you,” says Gavin Stuart who’s Managing Director of Ptyauctions.com.au

This is unique for real estate in Australia - we don’t replace regular real estate agents, we just offer them another way of selling the property and think people should be asking their agents if they can use Ptyauctions.com.au.

“We have developed state of the art software to make Ptyauctions.com.au as simple as possible for both buyers and sellers,” said Gavin Stuart who also works with this technology in highly time and price sensitive commodities such as specialty coffee.

“It’s amazing,” says Chief Auctioneer Brian Cannan from Think Real Estate. “The bidders see me on their computers and feel the atmosphere as if they’re in the room. And we allow plenty of time for last calls when it looks as though the show’s over. The on-line software’s unique Bid SureTM feature ensures on-line bidders are never at a disadvantage.” said Brian Cannan.

“It’s reliable, secure and confidential. For people who want to bid – all they need do is go to the Ptyauctions.com.au website at least 24 hours before the auction; provide proof of identity which is fully checked – and then just follow the prompts to find the auction they are interested in.

“For those who want to make sure they get their best bid in early, you can set your limit through a confidential proxy bid - which let’s the system do the bidding for you in line with your pre-auction instructions,” claims Gavin Stuart.

“Once registered, buyers can also use our practice auction facility which allows you to practice your bidding,” he added

“It’s great for sellers as they can reach a greater number of buyers -maximizing exposure, for example, to interstate, ex-pat and international purchasers who are interested in securing Australian property but are often unable to travel. It’s also an ideal way to watch your auction if you cannot be at site, “argues Gavin Stuart.

One of the first ex-pats to use the Ptyauctions.com.au on line bidding service was Jenny Edyejones who watched the auction on her computer from London and placed her bids on line from there. “I found the service very easy to use. I was completely comfortable bidding on-line and even though I was out bid at the auction, I will definitely use the service again" Jenny Edyejones said.

“With Ptyauctions.com.au, the bidder is the one placing the live bids – rather than hearing what is happening through a third party. It’s a better way for ‘remote’ bidders to understand the auction’s dynamics as they can both hear and see what is happening in the room. And it’s also ideal for people who don’t feel comfortable attending auctions.”

“Our aim was to make this service as user-friendly as possible and bidders and sellers alike have continually commented on the ease of use of the on-line auction software available through Ptyauctions.com.au. A popular feature is the historical data base of past auctions which can be viewed free of charge at any time. Not only does it give buyers and sellers an idea of prices reached at auction – it allows them to get the feel of how an auction works and how to best maximize their chances. The best news is that registration is free to bidders. For most sellers the cost is $350.” Gavin Stuart said.

Consumers and real estate agents can be assured that the live auctions of PtyAuctions.com.au comply with all regulations as the system has been developed in consultation with the NSW Office of Fair Trading.

“To be able to bid online has opened up new opportunities to both our vendors and buyers”, says Craig Marshall, Principal of Century21 Cordeau Marshall – one of the first agents to use the on-line bidding service. “Our vendors are delighted as they can now reach a greater target audience, once out of grasp due to geographical barriers; our buyers can now look at homes that traditionally weren’t even considered as they were either out of town or uncomfortable in an auction room. Pty Auctions has created a solution to an age old problem and for the real estate industry, this is a huge benefit for all concerned; vendors, buyers and the agents.” said Craig Marshall.

The PTY Auctions service, for the first time, allows vendors the choice of having their property auction broadcast live via the internet to a worldwide audience of affluent buyers. Breakthrough proprietary technology utilising streaming audio and video allows remote bidders to participate fully in the auction. For more information about PTY Auctions, or to become a member, go to the website at www.ptyauctions.com.au.