Buying at auction

[Kernopelli]

Anyone buy at auction? I can't resist the Internet auctions. Government, eBay, Iron Planet, etc. Uship makes it pretty painless to to get things where they need to go. Today is Iron Planets last sale of 2010 and I just happen to have all day to watch for a deal....I've been jumping back and forth between TBN and the auction. A perfect day. The BOSS hates this stuff but she never complains when I convert it to cash so she tolerates my bad habits to a small degree. Watching these auctions, especially the live ones are fun and a great way to get a feel for what's going on...and a good way to see how to not get caught up in emotional bidding or bidding wars. Hard lessons! I watched one JCB mini hoe go for $15,750 while an identical one w/ less hrs. at the same location sold for $12,000 at the same time. Had to be two guys fixated on the same machine and neither was going to give while the other one went with less than half the number of bids....very entertaining! You can always see the war unfolding too...wait for last second of the last call ....then wham! Bid it up. A few new tractors today, mostly NOS Montanas. A Montana R2844 w FEL, 8 hrs just sold for $9500US up in Alberta so someone got a deal. A 2 WD 3792 w/11 hr in MO sold for $5500....cheap work horse. New Montana 3820i w/fel for $11,500....9hr Montana L4794 4WD FEL-$9500 in MO and a 56Hr C6862 2WD in IA for $5500... I'm dying here. The BOSS caught me signing in to my bid page and did her Linda Blair head spin/intervention and said there will be no more purchase/sales in 2010!

Fine. There's an auction Jan 6. :dance1:

 

[oldnslo]

Nope, only auctions are one I physically attend and can do a touchy feely on what I am considering buying.

Roy

 

[sweettractors]

Anyone buy at auction? I can't resist the Internet auctions. Government, eBay, Iron Planet, etc. Uship makes it pretty painless to to get things where they need to go. Today is Iron Planets last sale of 2010 and I just happen to have all day to watch for a deal....I've been jumping back and forth between TBN and the auction. A perfect day. The BOSS hates this stuff but she never complains when I convert it to cash so she tolerates my bad habits to a small degree. Watching these auctions, especially the live ones are fun and a great way to get a feel for what's going on...and a good way to see how to not get caught up in emotional bidding or bidding wars. Hard lessons! I watched one JCB mini hoe go for $15,750 while an identical one w/ less hrs. at the same location sold for $12,000 at the same time. Had to be two guys fixated on the same machine and neither was going to give while the other one went with less than half the number of bids....very entertaining! You can always see the war unfolding too...wait for last second of the last call ....then wham! Bid it up. A few new tractors today, mostly NOS Montanas. A Montana R2844 w FEL, 8 hrs just sold for $9500US up in Alberta so someone got a deal. A 2 WD 3792 w/11 hr in MO sold for $5500....cheap work horse. New Montana 3820i w/fel for $11,500....9hr Montana L4794 4WD FEL-$9500 in MO and a 56Hr C6862 2WD in IA for $5500... I'm dying here. The BOSS caught me signing in to my bid page and did her Linda Blair head spin/intervention and said there will be no more purchase/sales in 2010!

Fine. There's an auction Jan 6. :dance1:

If you like online auctions, checkout our Ebay Store here Sweetfarmequipment items - Get great deals on New Disc Mower Parts, Machinery items on eBay Stores! Ken Sweet

 

[2458n]

Auctions can be really great or-. Grandmother got me started around 10 years old. There is nothing like a good deal on something. Sometimes it is such agood deal that it sits around for several years before you resell it. I would not consider myself a gambler at all ;but always finding myself taking chances on equipment at auctions. Cold weather will be slowing things down Jan-March. This will actually help the sellers according to an auctioneer friend. He claims things often bring 20% more due to the increased bidding wars and lack of auctions to attend. The only thing I miss on line is the people watching.

 

[LittleBlueTractor]

Anyone buy at auction? I can't resist the Internet auctions.

I did last month and posted about it here:

http://www.tractorbynet.com/forums/attachments/188063-my-ritchie-bros-haul-pics.html

I thought I did pretty good and even posted some pics of the stuff I got. Not a lot interest on the forum about it -- only one comment. I assumed everybody thought I was selling "Ritchie Bros" because I described the whole process. Then again, maybe it just happened to be much more interesting to me because I had just doubled my number of implements in one day.

 

[teg]

...Not a lot interest on the forum...

Sometimes it hit or miss... I missed your post the first time around .

I went to a few auctions but even the scrape metal dealers were paying more than I wanted to. First few times, I could not believe how many people show up to auctions....

 

[sweettractors]

Sometimes it hit or miss... I missed your post the first time around .

I went to a few auctions but even the scrape metal dealers were paying more than I wanted to. First few times, I could not believe how many people show up to auctions....

Same way here, With auction attendance so high, it is really hard to find a bargain these days. I see a lot of equipment sell at auction for more than I get for it after I bring it in and rebuild it. Go Figure Ken Sweet

 

[20 20]

I've noticed the bid wars too and have to laugh when things go for waaaayyyy more then they should, I quess some folks just don't get it.

 

[Kernopelli]

Same way here, With auction attendance so high, it is really hard to find a bargain these days. I see a lot of equipment sell at auction for more than I get for it after I bring it in and rebuild it. Go Figure Ken Sweet

True, I quit going to local auctions for years for the same reasons mentioned. I did start going again last year and have made some great purchases. It is certainly hit and miss though. Some times I feel sorry for the seller and others I think they must be putting meth in the concession food to induce such manic bidding.

BTW: I do frequent look through your ebay store....love that ebay!

 

[davygp38]

I've noticed the bid wars too and have to laugh when things go for waaaayyyy more then they should, I quess some folks just don't get it.

I'm glad someone mentioned this. I have been reading the Lancaster Farming news, and watching some on-line auctions, and just looking for deals. I figured the economy is supposed to be way down in the proverbial hole. and yet the only real deal I got in the last two years, was a like new 22,magnum stainless, with a case, and ammo for $80. I see people all the time buying used skid steers at the auctions for way more than you can get them at a dealer. I would add, that I am not one of those guys, who won't buy it, unless it is two for a nickel. I wonder if things are as bad as the "Gubment" says.

 

[Thomas]

I like to attend..do look over etc.,hard to find goodies I'll take chance..knock on wood yet to be burnt.

Bidding,I tell the Mrs. also get the look,but when time to fetch the prize means road trip,and frown turn upside down..whew.

 

[blueriver]

I went to a few auctions but even the scrape metal dealers were paying more than I wanted to. First few times, I could not believe how many people show up to auctions....

EXCATLY ... the best marketing tool for anyone selling is the services of a licensed, experienced professional Auctioneer ... The internet auctions are great.... sight and unseen ... an onsite live auction is for price maximization... your right there to lay hands on.

 

[2458n]

I also had missed the "Richie Bros" post. I had always thought of large Dozers,Backhoes,Etc. I did not realize that smaller items were sold. They have built a new sales yard in Ohio that I will look into. Thanks.

 

[scoutcub]

Also love the auctions. Been to several onsite auctions and always visiting online auctions.....love em. Prefer the online auctions, got carried away only a few times, and ended up with a trailer load of "stuff".....been very fortunate thus far with all the equipment purchased.
And you're right....it is funny to watch the "bidding wars" and see stuff sell for way more than it's worth!

 

[YanmarFever]

If you like online auctions, checkout our Ebay Store here Sweetfarmequipment items - Get great deals on New Disc Mower Parts, Machinery items on eBay Stores! Ken Sweet

Ken, doesn't Ebay charge outrageous listing fees?

 

[Dr_Zinj]

For Star Trek fans: These really should be several of the Ferengi Rules of Acquisition.

First Rule of an Auction: Know what the retail or wholesale price for the item is.

Second Rule: Know what your maximum spending limit is. (And what your balance is if buying several things during the course of the auction.)

Third Rule: Don't buy more than you know how to transport home.

Fourth Rule: When buying at a government auction, remember that they are worse than Repro guys at taking back stuff they've sold to you.

Fifth Rule: If it seems too good to be true, it probably is.

 

[sweettractors]

Ken, doesn't Ebay charge outrageous listing fees?

Yes they do, We compensate for listing fees and commissions by listing a item higher that you would normally buy from us direct. A buyer will always buy for less dealing directly with us. However, there are many buyers that don't trust sellers and want the warm/fuzzy feeling of assurance of a good Ebay seller feedback and also the Ebay buyer protection plan to help in Fraud and misrepresented sales. Ken Sweet

 

[brin]

LOL---I have to tell on myself here...Some years ago a neighbor of mine and I went to our first tractor & equipment auction together ..It was a cold and blustery day..and there were many folks there and a lot of tractors and attachments..anyway...we both knew the autioneer and had done business with him in the past since he also owned a used equipment company...we were each bidding on some piece of equipment and were right up front of the crowd just in front of him as he was in his chant calling the auction..when he nodded to me to bend over toward him and he whispered - quickly in my ear..you and your buddy are bidding against each other..LOL...We shut up after that ..we did not even realize we were doing that..I have not bid at an auction since..

Be careful with your emotions at an auction...glad he was a friend of ours..Lot of lessons learned that day.

 

[buckeyefarmer]

I bought my MF205-4 at a farm auction back in 1997. The tractor was over 10 yrs old at the time, with 300 hrs on it. I probably paid a little more than I should have, as I had not done any research before the auction. I should have bought some of the attachments then, as they went for very little. The tractor has served me well, I used it all the time before I bought my first Kubota, then it sat for yrs with little usage. Now with my new kubota with the backhoe, I'm using the MF more for 3 pt jobs.

 

[bc realtor]

I saw those JCB backhoe loaders. They were great! Would have bought one but someone wanted me to work that day. :licking: Darn clients! Always getting in the way of my toy feddish.