Auctions: When 'Sold' doesnt mean anything

I got downvoted to oblivion in a different thread, so i come.with receipts for all those that might be buying...

In Australian Victorian (at least) real estate auctions, the property is only sold upon signing the contract

Both parties can back out until that point,regardless of what was said out on the street....

here's your proof, FROM.THE GOVERNMENT

https://www.consumer.vic.gov.au/housing/buying-and-selling-property/buying-property/buying-property-at-auction

!When is the property 'sold'?!<

!There is no legally binding contract until both buyer and seller have signed the contract of sale.!<

How do I know this? "Bought" at auction then Biggin Scott got a higher bid as I was walking in to.house and they reopened the auction