Auction Results
Synonyms: Auction Outcomes، Auction Records، Auction Sales Data، Auction Report
Last updated: 2026-09-25
Short Definition
Auction results are the data recording the outcome of a real estate auction — whether it was awarded, the award prices and the winning bidders; in Saudi Arabia they are entered in REGA's Real Estate Auctions Register, from which REGA publishes periodic statistical indicators.
Overview
Legal Basis
Article 10(1) of REGA's Real Estate Auctions Regulation (REGA Board decision of 1/12/1444H) requires the auction to be closed on the electronic platform within five working days of its end; Article 5 establishes the Real Estate Auctions Register, which records licensee data and data on all auctions and publishes periodic statistical indicators; Article 3(3) requires records and recordings to be kept for five years; and Article 9(3)(b) requires minutes when bidding ends without an award. In judicial sales, Article 53 of the Execution Law, issued by Royal Decree No. (M/53) dated 13/8/1433H, requires minutes recording the winning bidder's name and the price, and the issuance of the award decision after the amount is collected.
Practical Example
An accredited valuer is appraising a residential plot in a Riyadh district and finds three recent auction results nearby: two plots sold at voluntary auction for SAR 3,100 and SAR 3,250 per square metre, and one sold at a judicial auction for SAR 2,650 per square metre, subject to a disclosed boundary dispute. He also finds voluntary sales in official real estate indicators averaging SAR 3,200 per square metre. He excludes the judicial auction result from direct comparables because it reflects special circumstances, adopts a figure close to SAR 3,200 per square metre, and documents the reason for the exclusion in his report.
Common Mistakes
- ✗Using judicial auction prices as direct valuation comparables without adjustment — they may reflect distressed sales or restrictions on the property.
- ✗The establishment delaying closure of the auction on REGA's platform — the regulation sets a maximum of five working days.
- ✗Assuming the announced award price is the final amount paid — commission and taxes are added, and the winner may default.
- ✗Ignoring auctions that ended without an award — they are an important signal of the expectation gap between sellers and buyers.
- ✗Failing to keep auction records and recordings for five years — an express obligation of the licensed establishment.
International Differences
Many markets publish auction results. In the UK, auction houses publish detailed per-lot results after the sale, and sale prices are later recorded in the official land registry. In Turkey, enforcement auctions run through the e-Satış portal, which records bids electronically. In the US, foreclosure auction results are used as indicators of market stress. The Saudi model is distinctive in having a central register at REGA that records every licensed auction and publishes indicators, with establishments required to close each auction on the platform within five working days.
