New South Wales’ Minister for Fair Trading Linda Burney says people who are thinking about taking part in online auctions should make sure the transaction is legal.

Several real estate agencies will hold online auction for houses across the state from next month.

Ms Burney says the laws covering auctions in New South Wales are designed to prevent dummy bidding, and that taking auctions to cyberspace could jeopardise that.

“The idea of online auctions for properties was always going to come along, but now that people are seriously talking about it, we have to make sure that it actually complies with the laws of New South Wales,” she said.

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Posted: 09|29|07 at 10:00 am. Filed under: Auction News.