Chinese buyers have acquired expert-level knowledge about how to bid successfully at real estate auctions in Australia, reports News.com.au (17 August 2016). Today's Chinese buyers are among the most sophisticated at auctions, compared to a few years back when they were frequently nervous and held up by language barriers – even with an interpreter on hand. “It’s not because they overpay,” said Gavin Norris, Head of Australia of Chinese international property website Juwai.com, “It’s because, like every smart buyer, they fight for every dollar. If a Chinese buyer doesn’t feel comfortable at an auction, they very commonly ask a friend or family member who is more experienced to stand in for them. That tends to produce some individuals who are highly skilled and very cool and comfortable under pressure.”
