Does anyone know Qantas policy regarding upgrading using QF points v bidding for the upgrade.

Does anyone know Qantas policy regarding upgrading using QF points v bidding for the upgrade. I will be making a RT trip from the US to SYD and BNE in a couple of weeks with a business associate. We are booth on QF purchased business class tickets, I am QF PI and he Gold and we booth have more than enough points to upgrade from business to first which is the aim. Can anyone advise me does Qantas give priority to biding pax over those using points. I need help as we want to give ourselves the best chance at p seats.

Points upgrades / classic awards are first. Although there is nothing stopped you using both is there?

See qantas website under "how bid now works"

Can't post link as on my phone. Will try to post later 

AFAIK bidding is not up to you - Qantas should send you invitation first. And do not put much hope on upgrade unless you high status QFF member.