Anyone follow auctions?
- Thread starter Stretch67
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Peter 315
Super Member
How about this is it a scam ?.....KUBOTA L34D 4X4 WLDR - farm & garden - by owner - sale
Peter 315
Super Member
HAHA me too............:laughing:
PILOON
Super Star Member
Over the years I have done very well at some auctions.
Once did on a Subaru that had a note "vehicle won't start". I sat in it, found the warranty papers to learn it was still 100% covered.
Placed a trash bid and won. Later wholesaled it to a dealer for 150% profit.
I had to wholesale as price was too high for a private cash sale and banks don't lend on private sales as they can't get a lien.
On another, an aircraft tug that had broken shifter that I tripled my investment after 4 months.
Some specialty testers bid at $30-40 later sold @ $600 ea.
There are deals but U need to know the market and be ready to take some risks.
Also being at the right place at the right time helps.
I have never seen a drill press sold at auction that went for less than retail for a new copy.
Popular consumer goods tend to go that way most often.
The craziest is popular consumer/hobby goods.
So many forget the fees and all taxes implied as well.
Once did on a Subaru that had a note "vehicle won't start". I sat in it, found the warranty papers to learn it was still 100% covered.
Placed a trash bid and won. Later wholesaled it to a dealer for 150% profit.
I had to wholesale as price was too high for a private cash sale and banks don't lend on private sales as they can't get a lien.
On another, an aircraft tug that had broken shifter that I tripled my investment after 4 months.
Some specialty testers bid at $30-40 later sold @ $600 ea.
There are deals but U need to know the market and be ready to take some risks.
Also being at the right place at the right time helps.
I have never seen a drill press sold at auction that went for less than retail for a new copy.
Popular consumer goods tend to go that way most often.
The craziest is popular consumer/hobby goods.
So many forget the fees and all taxes implied as well.
grsthegreat
Super Star Member
i once purchased 2 - 30 gallon oil storage tanks with top pumps at auction for $10 each. they were full of oil. after auction, the owner came and told me not to throw out the oil as it was nearly new 30 weight. i used that oil for over 8 years before i finally used it all up. Tanks sat in shop for years pushed into corner. Finally thought id just sell them as they might be worth something. I sold both containers on ebay to a restorer for $350 and he paid freight. that was the best auction item i ever purchased. i also bought a 3500 watt coleman generator for $ 50+- at the same auction. that was back in 1996, and i still have the unit. runs great and is lightweight for use around the property.
.
the only other item i kind of wish i purchased were 2 nearly new road paving machines. they sold for around $20,000 each. i found out afterwards those machines had less than 50 hours on them and the buyer told me he could get nearly $75,000 each for them. They were some massive green paving machines. dont remember the brand. back then you could make money at auctions. i stopped going to them as the prices just got too high. might as well buy new.
.the only other item i kind of wish i purchased were 2 nearly new road paving machines. they sold for around $20,000 each. i found out afterwards those machines had less than 50 hours on them and the buyer told me he could get nearly $75,000 each for them. They were some massive green paving machines. dont remember the brand. back then you could make money at auctions. i stopped going to them as the prices just got too high. might as well buy new.
Industrial Toys
Super Star Member
- Joined
- Feb 25, 2008
- Messages
- 17,407
- Location
- Ontario Canada
- Tractor
- Kubota R510 Wheel Loader + Cab and backhoe, JD 6200 Open Station, Cushman 6150, 4x4, ten foot 56 hp Kubota diesel hydraulic wing mower, Steiner 430 Diesel Max, Kawasaki Diesel Mule, JD 4x2 Electric Gator
I still use a Three Rivers Band Metal saw that I got dirt cheap at Municipal auction, and can still get the parts for this fifty year old saw!
I bought a Collumbus McKinon lever chain hoist at an on line auction. Couldn't find it when I got there because I was expecting something larger and this thing would fit in the palm of my hand. Paid too much considering the bother of having to get the thing, but it has been nice to have.
I bought a Collumbus McKinon lever chain hoist at an on line auction. Couldn't find it when I got there because I was expecting something larger and this thing would fit in the palm of my hand. Paid too much considering the bother of having to get the thing, but it has been nice to have.
CobyRupert
Super Member
Yes, but....
You can’t say you could of bought it for $20,000 because that’s what it sold for.
A saying I remember is: “It takes two fools to make an auction”
Knowing they’re worth $75,000, you might of been willing to bid (say) $22,000, $30,000, $50,000, but you don’t know if the winning bidder may of been willing to go $55,000, etc..
IMHO, the price of an auction item “deal” means very little. More of an indication of who showed up.
Industrial Toys
Super Star Member
- Joined
- Feb 25, 2008
- Messages
- 17,407
- Location
- Ontario Canada
- Tractor
- Kubota R510 Wheel Loader + Cab and backhoe, JD 6200 Open Station, Cushman 6150, 4x4, ten foot 56 hp Kubota diesel hydraulic wing mower, Steiner 430 Diesel Max, Kawasaki Diesel Mule, JD 4x2 Electric Gator
I have gone to auctions, like when I bought a rather large Vermeer Stump Grinder. A guy approached me and wanted to buy it, as he had got there too late on a snowy day. If he had been there, or maybe someone else, I never would have got it. Those days are gone, probably forever ,with on-line auctions.
Sonny580
Veteran Member
Prices here have skyrocketed on equipment! ---NO such thing as reasonable anymore .---as for hour meters , they switch them all the time! get in a good looking unit with major problems and high hours,--slap on a low hour meter and it brings top dollar,---PLUS all sales final! so tread lightly!!
PILOON
Super Star Member
Once I was offered a drilling rig mounted on a trailer, they said too late to list but it's yours for $2000.
Well I later learned what I had passed up. It was a tracked oil rig exploration rig that would bore 3 inch core holes.
It had a complement of extensions as well.
My bad, but I like educated risks and not blind gambles.
Oh well win some and lose some.
Well I later learned what I had passed up. It was a tracked oil rig exploration rig that would bore 3 inch core holes.
It had a complement of extensions as well.
My bad, but I like educated risks and not blind gambles.
Oh well win some and lose some.
Update. The listing indeed was a scam. I've responded to a lot on craigslist, and anything decently priced seems to be a scam.
In other news, I've been following online auctions practically every day for two weeks. Seems like stuff is routinely selling for same or more than regular online listings.
It doesn't make sense.... I'm watching millions of dollars of iron get auctioned every day on equipmentfacts.com and proxibid. It seems like the speculators should run outta money at some point....?
In other news, I've been following online auctions practically every day for two weeks. Seems like stuff is routinely selling for same or more than regular online listings.
It doesn't make sense.... I'm watching millions of dollars of iron get auctioned every day on equipmentfacts.com and proxibid. It seems like the speculators should run outta money at some point....?
JDAOWNER
Silver Member
I'VE BEEN TO AUCTIONS WHEN THE AUCTIONEER HAD A SHILL IN THE BIDDING. HE BIDS IT UP TO A CERTAIN POINT THEN DROPS OUT SO THINGS DON'T SELL CHEEP. HE ALWAYS MAKES SURE THERE ARE TWO BIDDERS. AROUND HERE THERE SO MANY PEOPLE OF A CERTAIN RELIGIOUS ORDER WITH POCKETS FULL OF MONEY YOU CANT EVEN HARDLY GET A BID IN.
These both went for $19,000 this morning. Two more 2017's coming up this afternoon. Anyone have any feedback on these machines; or know when the emissions stuff started?
https://live.proxibid.com/BidderWeb/main.do?auctionId=180111&wo=false#|180111|show-me-catalog-item|
Last week I watched another auction. Maybe 20-30 cat skidsteers went $15,000 to $25,000 under comparable online listings. A bunch of Cat 262D units went for $25,500 and they only had 150-300 hours on them. Pretty loaded with options too. I believe they were 2019's. It was a "choice" bid and of course the winner says "I'll take em all."
https://live.proxibid.com/BidderWeb/main.do?auctionId=180111&wo=false#|180111|show-me-catalog-item|
Last week I watched another auction. Maybe 20-30 cat skidsteers went $15,000 to $25,000 under comparable online listings. A bunch of Cat 262D units went for $25,500 and they only had 150-300 hours on them. Pretty loaded with options too. I believe they were 2019's. It was a "choice" bid and of course the winner says "I'll take em all."
Industrial Toys
Super Star Member
- Joined
- Feb 25, 2008
- Messages
- 17,407
- Location
- Ontario Canada
- Tractor
- Kubota R510 Wheel Loader + Cab and backhoe, JD 6200 Open Station, Cushman 6150, 4x4, ten foot 56 hp Kubota diesel hydraulic wing mower, Steiner 430 Diesel Max, Kawasaki Diesel Mule, JD 4x2 Electric Gator
FEW things I ever hated more at auctions than "on choice". Maybe you don't want the highest price one. Sometimes the items are not even the same. One electric lift, the other gasoline, but sold on choice! Gas one will be worth more, but what if you want the electric one?
My auction days are pretty much over. I am not looking for a whole lot, but this on-line trend, has made landing bargains almost impossible.
My auction days are pretty much over. I am not looking for a whole lot, but this on-line trend, has made landing bargains almost impossible.
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