Fianna Fáil accused of ‘besmirching’ auctioneers’ reputation with fake bid bill

Auctioneer institute argues legislation aimed at clamping down on fake bids already exists

The CEO of the Institute of Professional Auctioneers and Valuers (IPAV) has accused Fianna Fáil of ‘besmirching’ the reputation of auctioneers.  Photograph: Cyril Byrne

The CEO of the Institute of Professional Auctioneers and Valuers (IPAV) has accused Fianna Fáil of ‘besmirching’ the reputation of auctioneers. Photograph: Cyril Byrne

 

The CEO of the Institute of Professional Auctioneers and Valuers (IPAV) has accused Fianna Fáil of ‘besmirching’ the reputation of auctioneers.

Pat Davitt says that legislation being proposed by Fianna Fáil aimed at clamping down on fake bids already exists and that all the political party has managed to do is to besmirch auctioneers.

Pat Casey, Fianna Fáil spokesperson on Urban Renewal and Housing, told Newstalk Breakfast that the party wants to introduce a ten day process allowing purchasers to report suspicious bids.

“The purpose of the Bill is to bring greater transparency to the process of buying a home, which is the single biggest purchase in a person’s life.”

The Bill aims to stop fake bids which push up prices, he explained.

“This process will allow bidders report to the Property Services Regulatory Authority (PRSA) if they think there has been a fake bid. There will then be ten days for the PRSA to check records and verify that there has been a real bid.

“The ten day wait won’t slow down the process or delay closing the sale.”

The rejuvenation of the property market has led to an ideal market for fake bidding, maintains Mr Casey. The majority of auctioneers behave correctly, he added. This Bill will just ensure greater transparency.

However, Mr Davitt said that the existing process already allows for checks of bids which must all be registered and recorded.

“What Fianna Fáil has done is besmirch auctioneers. They are not putting any process in place that is not already there.”