Anyone follow auctions?
- Thread starter Stretch67
- Start date
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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.
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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.