The uncertainty involved in auctions is perhaps its greatest draw for investors looking for an unexpected bargain. But it also increases the challenge. With a competitive field around, coming out on top without over paying is a difficult task.

Sellers who go to auction often do so for a good reason - their property has something unique about, making it easy for buyers to get caught up emotionally and bid above their ceiling price when there is enough competition. Bargains can just as easily swing in favour of the buyer as well, though.

Some sectors of the country have seen housing prices fall and interest amongst buyers slip. But as plenty of investors have sensed the current state of the market as an opportunity, so to has the competition increased on some of the more affordable and attractive properties.

Even for an experienced investor, a large interest from other parties can make a purchase process seem daunting, especially at auction. Those who have come out losing at an auction when trying to buy a well-liked property may wonder to themselves if they could have done something better.

Successful strategies can never guarantee winning bids across the board, but they can help you get an edge over the others.

We detail some of the top tips by experts for pulling on top when buying your next investment property in a competitive market.

1. Dress to impress

Getting an early edge might start with your personal appearance, say many experts.

At recent auction in Sydney's historic The Rocks held by Auction Works, about 40 people attended the sale of three properties for mortgagee sales. All three were sold at the auction.

The bidders included a smiling couple who brought their young children along with, a young lanky man in jeans with nervous eyes and a beard down to his chest, and a business man in suit jotting something down on a notepad.

It's no doubt the latter of the three came out looking the most professional and perhaps even intimidating.

"Dressing to impress can create the impression that you have an endless budget and can intimidate others so they stop bidding earlier," says Frank Valentic, a buyer's agent and director of Advantage Property Consulting.

Pino Tedesco, formerly a buyer's agent and director of the Metropole Investment Strategists Sydney office, now director with Capital Property Advisory says he always wears a suit at auctions.

"The reason I do that is that I like to show that I'm professional," he says."That knocks out some people who haven't done (auctions) before, or nottoo often, and I tend to bid very confidently."

2. Make yourself noticed

If you come in looking sharp, people will likely notice you. But it doesn't hurt to make everyone see you anyway, says Valentic.

He suggests parking a prestigious car (if you have one) at the front of the property if it is on-site, then stand next to the car. It's a similar effect of being well-dressed - psyching out your opponents.

Valentic also suggests sitting up front, where you can get a good view of the competition.

In a large room with chairs, however, standing in the back might give you the best overall picture.

No matter where you stand, Tedesco suggests calling out your bids confidently. 

Read more online at Your Mortgage magazine