Nothing says Melbourne more than a lazy weekend brunch perusing the weekend newspapers over insta-worthy eggs, smashed avocado and single origin free trade coffee. Pull out the property section, and you’ll come across these auction and real estate related acronyms. Get to know auction speak. 

EOI - Expressions of interest.  Written offers are invited by a specific date

PI - Passed in at auction, on a genuine bid or no bids

PS - Private sale, considered to be a sale made prior to, or at least two days after the auction

SA - Sold after auction, within 2 days after the auction

SB - Sold before auction, prior to auction day

SO - Sold on auction day, either under the hammer at auction or thereafter on the same day

VB - Passed in on a vendor bid at auction

SOI - Statement of information

Photo featuring Jason Lien - THE AUCTIONEER speaking with an interested buyer of an upcoming auction in Wheelers Hill

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