Abraham Lincoln said: "Nearly all men can stand adversity, but if you want to test a man's character give him power".

I was recently invited by an auctioneer to their lunch suite at one of their auctions. I have sold a few properties through them and was surprised by the invitation, as I believed it was for their core property traders. As I was looking to buy and sell that day I took the offer up with the anticipation of doing some networking.

I was selling my Surrey house at the auction reserved at £650,000 and bidding on a Fulham house up to £1,500,000. Within hours of turning up I was outbid by a few hundred thousand pounds by owner occupier buyers. I asked the successful Fulham bidder what their intention was - 'to live and die there' was the reply. Despite the setback I still had a spring in my step as I patiently waited for my Surrey lot to come up while trying to avoid the hordes of people rushing in and out of the room when a lot was sold.

It's always a concern when the auctioneer is bidding off the wall, which is exactly what happened to my lot. There were no bids but it was a punt for me, which is why the guide price was probably too high. I knew the GDV would be close to £800,000 after a £100,000 refurbishment and so thought it entirely possible that an owner-occupier or small builder would emotionally attach themselves to what is an ugly house on the best street. Feeling somewhat deflated I headed to the suite for my free lunch with the hope I'd make some good connections.