Auction goods, chattels or equipment

Unit of competency Outline

Date retreived
22/07/2026 9:42 AM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Unit of competency

National Code
CPPREP4509

State Code
OAQ69

TGA Status
Current

DTWD Status
Approved

Current Release Number
1.00

Current Release Date
21/03/2019

View on TGA

State Implementation and Classification

Approved Date

03/06/2020

Field of Education

080599 - Sales And Marketing, N.e.c.

Original Release Date

03/06/2020

Nominal Hours

Description

This unit specifies the skills and knowledge required to prepare and conduct an auction of goods, chattels or equipment, including a clearing sale. It includes preparing, conducting and completing the auction or clearing sale. This unit applies to industry professionals in real estate.State or territory licensing requirements may apply to this unit.

Notes

Elements and Performance Criteria

1 Prepare for auction.

1.1 Prepare auction and sale documentation according to agency practice and legislative requirements.
1.2 Prepare and communicate instructions to assisting professionals and ensure auction documentation is available prior to auction date.
1.3 Prepare inventory of reserve and non-reserve items, including pricing requirements, according to agency practice.
1.4 Establish and document ownership of goods, chattels and equipment to be sold to enable clear title to be passed to buyers according to agency practice and legislative requirements.
1.5 Present goods, chattels and equipment to public using marketing materials agreed by seller to create product image.
1.6 Book and confirm staff and resources for auction day.

2 Implement auction day processes.

2.1 Confirm suitability of auction site and display of required auction advice and documentation according to legislative requirements.
2.2 Confirm suitability and operation of auction equipment.
2.3 Implement bidder security systems to eliminate theft and non-payment.
2.4 Confirm availability and suitability of auction documentation, including instructions, authorities, contracts, reserve price and vendor bids.
2.5 Confirm number of registered bidders, online bidding and bidding by authority.
2.6 Confirm staff are available to support the auction.
2.7 Present pre-auction offers from buyers to seller.

3 Open auction.

3.1 Read out terms and conditions of sale according to legislative requirements.
3.2 Describe goods, chattels and equipment, consistent with description available to public.
3.3 Respond to questions from potential bidders and other parties.
3.4 Submit goods, chattels and equipment for sale to solicit bids.

4 Manage auction to maintain flow.

4.1 Monitor bids and maintain auction process to achieve reserve or best price for each lot.
4.2 Manage bidding process according to legislative requirements.
4.3 Exercise trial close strategy for each lot.

5 Complete auction.

5.1 Signify close of auction for each lot using appropriate methods.
5.2 Knock down lot to successful bidder once reserve price has been met and all other bids exhausted.
5.3 Record sale details, including purchase name, immediately and accurately to maintain sales register.
5.4 Pass in lot when reserve price is not met and all bids exhausted.
5.5 Deliver records of auction transactions to agency to support timely preparation of financial records and completion of sale.
5.6 Obtain feedback on conduct and outcome of auction.

No information

Replaces

State Code	National Code	Title	Type
D1282	CPPDSM4038A	Conduct goods, chattels or equipment clearing sale or auction	Unit of competency

State Code	National Code	Title	Type
BEH9	CPP41419	Certificate IV in Real Estate Practice	Qualification