Synchronous, asynchronous, mixed and in-person sales: differences and how to prepare
DM 32/2015 provides for four online sale methods in forced enforcement proceedings. The choice of method does not depend on the bidder: it is set by the enforcement judge in the sale order and stated in the notice published by the professional delegate on the PVP. Each method determines when you need to be in front of the screen, how raises work and when the delegate declares the award. Knowing the operational differences before submitting your bid changes the way you prepare for the auction.
How a synchronous sale works
The synchronous sale is the method most similar to a traditional in-person auction. The auction takes place in real time on an online platform run by the authorised operator indicated in the notice of sale. All admitted bidders are connected at the same time and raise live.
The professional delegate opens the auction by announcing the starting price and any highest bid already submitted. From that moment a sequence of raises begins. Each raise must respect the minimum increment stated in the notice (e.g. €1,000, €2,000 or a percentage of the starting price). The system shows all participants the current highest bid, updated in real time.
When no participant raises within a set time (typically 60–180 seconds from the last raise), the auction closes and the delegate declares the provisional award. The timer is visible on the platform: each new raise resets it and the auction resumes. This mechanism prevents the auction from closing while someone is about to raise, but it also means that an auction with many active participants can go on considerably longer.
Communication during the auction is one-way: the delegate speaks, and participants raise using the button on the platform. There is no verbal interaction between bidders. The delegate may use an audio or video channel to comment on how the auction is going, but the formal procedure takes place entirely on the operator’s IT system.
Advantages for the bidder. You know in real time who is raising and by how much. You can adjust your strategy during the auction. The duration is limited: a synchronous auction typically lasts 30–90 minutes. You see the result immediately.
Disadvantages. You must be online for the whole duration, with no possibility of a break. If your connection drops, you lose the ability to raise until you reconnect — and in the meantime the auction may close. The emotional pressure of live bidding can push you beyond the budget you had set yourself. This is the method in which the “competitive auction” effect is strongest: direct confrontation with other bidders psychologically pushes you to raise even beyond the rational limit.
What to do in practice. Log in to the platform at least 15 minutes before the time stated in the notice. Check that audio and video work (some platforms use video conferencing for the public part of the auction). Keep your maximum price at hand, written on a sheet of paper before the auction: when you reach it, stop. Don’t decide “the maximum” during the auction, because under pressure you will raise the threshold. Make sure you have a stable network connection and a backup device (e.g. a smartphone with a hotspot) in case the main line drops. Close all unnecessary applications on your computer to avoid slowing down the platform.
How an asynchronous sale works
An asynchronous sale takes place over an extended time window, without a live bidding moment. The notice of sale specifies an opening date and time and a closing date and time for raises. The window is at least 24 hours and can extend to several days.
Each admitted bidder accesses the operator’s platform and submits their raise whenever they want, within the time window. In some configurations the system shows the current highest bid; in others, bids remain secret until closing. The configuration depends on the operator and on the judge’s order. Check in the notice of sale whether bids are visible during the auction or only at the end.
The anti-sniping mechanism is the most important operational element of the asynchronous sale. If a raise arrives in the last few minutes before closing (typically the last 5–10 minutes, depending on the platform’s configuration), the system automatically extends the closing time by a set period (e.g. 5 minutes). The extension is repeated with every last-minute raise, until nobody raises any more within the extension period. This prevents a bidder from winning by placing a raise at the last second, but it makes the closing of the auction unpredictable.
In an asynchronous sale on a contested lot, anti-sniping extensions can prolong the auction by 2–3 hours beyond the scheduled closing. A bidder who does not monitor the platform in the final hours risks losing the lot without realising it: their raise, which was the highest at 5 p.m., may have been beaten by raises that arrived between 5 p.m. and 7:30 p.m. during the extensions.
Advantages for the bidder. You don’t have to stay connected for hours waiting. You can think before raising. The emotional pressure is lower than in a synchronous sale because there is no direct, visible confrontation. You can take part even if you have work commitments during the day: you submit your raise when you are free.
Disadvantages. It requires checking the platform periodically to see whether anyone has raised. The anti-sniping mechanism can extend the auction by hours beyond the scheduled closing. If you don’t check the platform in the final hours, you can lose the lot without realising it. The bidding strategy is less intuitive: without raises visible in real time, you don’t know how many competitors you have or how much they are willing to spend.
What to do in practice. Set a reminder 2–3 hours before the scheduled closing. Check the status of the auction. If you intend to raise, do it early enough to handle any technical problems (the platform can be slow under load, the browser can freeze). If the anti-sniping extension is active, be ready to monitor the platform until the auction ends: it may run past the scheduled time. Keep your phone at hand with the operator’s app or website open.
Mixed sale: combining the two models
A mixed sale combines an initial asynchronous phase with a final synchronous phase. The timing and the rules for moving between the two phases are set in the sale order and stated in the notice.
In the most common practice, the asynchronous phase collects bids and raises over a defined period (from a few hours to several days). At the end of the asynchronous phase, the system identifies the bidders who have exceeded a minimum threshold (typically the minimum bid or the starting price) and admits them to the synchronous phase. The synchronous phase works as described in the previous section: raises in real time, a timer, the award at the end.
The theoretical advantage of the mixed sale is that it selects the serious participants in the asynchronous phase, reducing the length of the synchronous phase. In practice, the synchronous phase of a mixed sale is often shorter than a pure synchronous sale, because the number of active participants has already been filtered.
For the bidder, preparation requires both skills: being able to handle asynchronous raises (with the necessary monitoring) and the live auction (with its emotional pressure and connection risk). The notice of sale specifies the dates and times of both phases. Read it carefully: the most common mistake is preparing only for the synchronous phase and discovering that you did not submit a bid in the preliminary asynchronous phase. If you don’t take part in the asynchronous phase, you don’t get into the synchronous phase.
The mixed sale is less common than the synchronous and asynchronous ones, but some courts use it as standard for higher-value proceedings, where the expected number of bidders is high.
In-person (analogue) sale: bidding in the room
The analogue sale is the traditional method: the auction takes place physically, in the room, in front of the professional delegate. The bid is still submitted online through the PVP Web Form (a legal requirement introduced by DM 32/2015 and fully operational since 2018), but the bidding itself takes place in person.
The bidder or their representative must attend at the venue indicated in the notice (typically the delegate’s office or a courtroom) on the set date and at the set time. Raises are made out loud, with the delegate announcing each increase and waiting for further bids. Once all raises have been heard, the delegate declares the auction closed and awards the lot to the highest bidder.
The analogue sale has the advantage of immediacy: you see the other participants, hear the raises, and can talk to the delegate if you have procedural doubts. There are no internet connection risks. The disadvantage is logistical: you must be physically present at the venue indicated, which may be in a different city from yours.
This method is now residual in real estate enforcement proceedings. Most Italian courts have adopted the synchronous or asynchronous sale as standard, with the acceleration brought by the 2020 health emergency definitively moving the remaining procedures online. The analogue sale remains more common in some insolvency proceedings, in movable property sales and in smaller courts that have not completed the transition.
Operational comparison of the four methods
| Aspect | Synchronous | Asynchronous | Mixed | In-person |
|---|---|---|---|---|
| Attendance required | Online, live, for the whole auction | No obligation of continuous attendance | Online for the final phase | Physical, at the venue |
| Typical length of the auction | 30–90 minutes | 24 hours – several days | Variable (async + sync phase) | 30–60 minutes |
| Raises | In real time, visible to all | During the open window, with or without visibility | Asynchronous, then synchronous | Out loud, in the room |
| Anti-sniping | Timer on the last raise | Automatic extension of the deadline | Present in the asynchronous phase | Not applicable |
| Emotional pressure | High | Low to medium | Medium to high in the synchronous phase | High |
| Technical risk | Connection drop | Failing to monitor the closing | Double: both risks | None (physical attendance) |
| Current use | Very common | Common | Less common | Residual |
The choice of method is not in your hands. What is in your hands is preparing properly for the specific method of the sale you intend to take part in.
How to prepare for auction day
Preparation is identical for all online methods up to the submission of the bid: filling in the PVP Web Form, digital signature, sending the PEC, paying the stamp duty. The differences emerge on the day of the auction.
For synchronous and mixed sales (synchronous phase), the Ministry sends the credentials for the virtual courtroom on the day of the sale itself. You won’t receive them earlier. You must already have registered on the operator’s portal indicated in the notice of sale: registration gives access to the reserved area, but the specific credentials for the auction arrive by PEC from the Ministry.
Check in advance that the operator’s portal works from your device. Some operators require specific browsers or plugins. Auction day is not the time to find out. Do an access test at least 2–3 days before: log in to the portal, check that your account works and get familiar with the interface.
For asynchronous sales, the key day is not the opening but the closing. The opening is when you can start submitting raises, but the action is concentrated in the final hours. Organise yourself to be available in the 3–4 hours before the scheduled closing, taking possible anti-sniping extensions into account.
Set your maximum price beforehand. Calculate it taking into account not only the cost of the asset but also taxes (2–9% registration tax, or VAT), procedural costs (the delegate’s fee), any renovation work and, if the property is occupied, the time and cost of vacating it. For more on post-auction timescales, see the guide on the transfer decree and the award.
If you are taking part for the first time, the whole procedure for filling in the bid, sending the PEC and preparing for the auction is described in the complete guide to buying at auction.
Frequently asked questions
Can I choose the sale method?
No. The method is set by the enforcement judge in the sale order. The bidder cannot choose it or ask for it to be changed. The notice of sale published by the professional delegate states it explicitly.
What happens if my connection drops during a synchronous sale?
If you lose your connection during the auction, you can no longer raise until you reconnect. The delegate is not required to suspend the auction because of an individual bidder’s technical problems. The bid already submitted remains valid, but you won’t be able to improve it. That is why it is advisable to have a backup connection (e.g. a smartphone hotspot) ready to use.
How long does an asynchronous sale last on average?
The minimum length is 24 hours, but in practice the window set in the notice ranges from 1 to 5 days. On top of this come any anti-sniping extensions. An asynchronous auction with many raises in the last hour can run 2–3 hours past the scheduled closing.
In a mixed sale, do I have to take part in both phases?
Yes. If you don’t submit a bid in the initial asynchronous phase, you are not admitted to the final synchronous phase. The notice of sale specifies the dates and times of both phases. Read the notice carefully so as not to miss the deadline of the first phase.
How do I find out the minimum increment?
The minimum increment is stated in the notice of sale. It may be expressed as a fixed amount (e.g. €1,000, €2,000, €5,000) or as a percentage of the starting price (e.g. 2%, 5%). The operator’s platform generally prevents raises below the minimum increment, but the notice remains the source to check.
Is the analogue sale still legal?
Yes. DM 32/2015 provides for it as a legitimate method. However, since 2020 the bid must in any case be submitted online through the PVP Web Form, even if the auction takes place in person. The purely analogue sale (paper bid + bidding in the room) has essentially disappeared from real estate enforcement proceedings.
Can I raise at the last second in an asynchronous sale?
You can try, but the anti-sniping mechanism automatically extends the closing time. If you raise in the last few minutes, the auction is extended by a set period (typically 5 minutes), giving the other participants time to react. The extension is repeated with every last-minute raise, until nobody raises any more within the extension period.
Which method is most advantageous for the bidder?
There is no objectively better method. The synchronous sale favours those with a cool head and a stable connection. The asynchronous sale favours those with little time who want to think things over. The mixed sale requires double preparation. The analogue sale eliminates technological risks but requires physical attendance. The method is not your choice: prepare for the one stated in the notice.
The sale method does not change the substance of taking part: online bid, deposit, digital signature, PEC. What changes is how the auction unfolds and the level of attention required on the day of the sale.