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Basics about auctions

How long does an auction last?

Auction periods will last 9 days for each cluster. At the end of the auction period, the auction closes and shares are bought back and new shares are issued at the auction price. It will take 6 (six) business days for shares on auction to transfer from sellers to buyers after the auction period has ended. Make sure to check out the auction dates for each Cluster.


Clusters are the properties that are on auction for any of the . The property in the cluster will pay out dividends on the 15th each month and auctions for the specific cluster will last from the 16th to the 25th of each month. Check out the clusters on the Auctions and Dividend calendar.

What is a ‘Bid’?

A ‘Bid’ is simply the highest price someone is prepared to pay for a share. When you want to buy more shares, you place a bid.

What is an ‘Offer’?

An ‘Offer’ is simply the minimum price someone is offering to sell their shares for. When you want to sell your shares, you place an offer

How does the Auction price get determined?

The auction price is determined at the price where the most shares will be bought and sold. 

In this example, in the probable trade volume column, you can see that 28 shares will be bought and sold at 107c. This is the greatest volume and therefore the probably trade price for the auction will be 107c. This price is only final when the auction period is closed. Until then, when people place more bids and offers, the price can still move.


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