Equipment Auctions...Beware

[Luremaker]

I used to go to lot's of auctions. Found some really good deals and over paid for the odd thing here and there. I've stopped going after all of the local auctioneers added a 10% buyers premium. Some even have a 15% buyers premium. The heck if I will pay a buyers premium + 13% in sales taxes. The other thing is around here auctioneers tend to sell all the junk first then get to the good stuff. I am fed up with wasting an entire evening or the better part of a Saturday hoping to pick up something at a decent price.

Now I spend my time searching Kijiji and craiglist. That's where the deals are... plus I can search just about any town or city, right from any computer.

 

[Scooby074]

QRTRHRS: My apologies if you thought i was implying that you were being dishonest.

Just that ive seen the "ill play a rube" game several times, and the "rubes" are far from it, and usually end up bidding against me!!

Ive even seen it in real estate open houses (not an auction) where "rubes" go person to person, asking "innocent" questions about this houses construction and "value".

Alls fair i guess, and if people are stupid enough to tell someone what they're going to pay (or a product's true value) then they deserve to lose out, i just dont go out of my way to help a "competitor".

Luremaker: I agree. See my earlier post about "dealers". People forget about the fees and taxes when bidding (speaking from experience ). Alot of times, when alls said and done, the final price is close to retail. I think Ebay is a better deal sometimes.

 

[stravis]

How do you find equipment auctions in your area? I've searched and all I can find are antique auctions.

 

[QRTRHRS]

QRTRHRS: My apologies if you thought i was implying that you were being dishonest.

Just that ive seen the "ill play a rube" game several times, and the "rubes" are far from it, and usually end up bidding against me!!

Ive even seen it in real estate open houses (not an auction) where "rubes" go person to person, asking "innocent" questions about this houses construction and "value".

Alls fair i guess, and if people are stupid enough to tell someone what they're going to pay (or a product's true value) then they deserve to lose out, i just dont go out of my way to help a "competitor".

Luremaker: I agree. See my earlier post about "dealers". People forget about the fees and taxes when bidding (speaking from experience ). Alot of times, when alls said and done, the final price is close to retail. I think Ebay is a better deal sometimes.

I was not offended, just wanted to clarify my position is all. I do agree with the comments posted here that auctions have lost a lot of their appeal.

 

[Mike Costello]

Funny story about auctions. My wife and I attended an art auction (never done this type of thing) and decided to bid on a signed and numbered print when it came up for bid. She's thirsty, so I give her our ID paddle and tell her to bid up to our maximum if the print comes up for bid.
I'm coming back in the room with two drinks in hand and see the print on the stand and the auctioneer starting the bidding. I frantically signal my wife to jump in on the bidding, but she is scared to do so. Then the auctioneer sees me waving my arms like a mad man and asks, "Sir, are you bidding on this item?" I say, "Yes sir" Well, the room got real quiet and all the other bidders quit bidding. I wound up getting that print for a very good price! That was almost 20 years ago and we still have that print hanging in our living room.

 

[QRTRHRS]

How do you find equipment auctions in your area? I've searched and all I can find are antique auctions.

Those thin "freebie" advertising papers that you can get for free at restaruants, etc. are a source. My tractor dealer always has flyers laying about. The real estate section of a newspaper on Sunday might have some listings. Maybe try some online searching.

 

[bdeboer]

I was at a "downsizing" auction the other night, and the auctioneers (father/son team) did something I found interesting. The son is doing the calling on a couple of decent quality living room chairs although covered in blue fabric. A couple of people have bid them to around 5 each. The father says heck I'll them for 20 a piece. Someone else instantly bids 25 then 30. Personally, I would have let him buy them if I was interested. I did buy a gas grill with a full tank for 10 bucks.

 

[teststrips]

a lot of the auctioneers around here use Auction Zip - Live Auction Locator - Find Auctions Anywhere!

I also usually check the local "free" papers too.

 

[teststrips]

Edit - sorry for the double post

 

[jimmyj]

I love to go to auctions and the more you go the more you learn the in's and out's of the particular auctioneer. Some around here are in "tight" with equipment dealers and you see the same individuals buying certain types of equipment but not touching anything else year after year.

As mentioned, I also find talking to the crowd helpful, get to know a few regulars and they will be a wealth of wisdom "that guy is a scrap dealer, the fella over there works at XYZ equipment sales, the fella over there brought those 3 tractors to the sale and the guy in the red hat is his buddy...."

I've found that you have to go to A LOT of sales to get any real bargains. Even then, wait around all day and find out somebody else is ready to pay more for the item than you could get it for new!!

Other than small stuff, I've pretty much given up on sales and buy what I need used off the side of the road or from ads or dealers. The best deals seem to come through acquaintances "hey, Larry is selling an XYZ...:"

One thing I find interesting about estate sales is whether or not the family is on site. I went to a sale a few years ago at a retired farmer's place. His name was Bruce and he was there. He was a kind and wonderful man. He sat there and watched the stuff he'd bought his whole life get sold bit by bit. Right from old CASE tractors that were hand crank up to an $80,000 J. Deere that went for about $42,000. I felt bad for him, watching his whole life sell, but his daughter said to me "he's OK, he knows that part of his life is over now...."

It was kind of a neat snapshot into history but to this day I think of how he must have felt.