Auction Strategy

[pennwalk]

I like to go to the local monthly equipment auction. From time to time I run into the problem of a skid lot of parts that I want some of but which has a couple of valuable parts that I don't need which drive the price too high. My question is what do you do to get the stuff you want without paying too much?

Chris

 

[studor]

I often go to the same auctioneers auctions and members of the buying crowd become familiar faces. Lots of times on lots I will bid because I want one item and watch who else is bidding. Usually if the bid goes beyond my budget for the item(s) I will see who wins it and check with them to see if they are willing to sell the items. In many case I have both sold items from lots that I have bought and purchased items from others for a very reasonable price. Of course sometimes the buyer wants the same things you do but thats the luck of the draw!

 

[sam5570]

Pennwalk that is a question that i am sure will get a ton of responce first thee reason them pieces that you want is in that box with the rest being junk is thatss the only way they can get a bid is there has got to be something good to hide all the bad you just got to determine what the part you want is woth and never count on getting anything out of the rest of the stuff in the box and never let anyone know that you are intrested in something at the sale auction companys have people waking around listening to the talk and if they know you have a intrest in something they will run the bid up on it i have seen it manny times alot of people say don't go to auction's but the more of them i go to the more i learn one thing i have learned for never trust the auctioner or the people working for him in most all cases im sure there is some good one's out there but few and far between i learned alot being excutor of 2 estates that had to be auction off and let me tell you most of it was not good

 

[charlz]

Sometimes if you are just interested in a few items you can ask the auctioneer to pull them out separate. You can also ask them to do 'choice' first but typically this gets run up to the price of the most valuable item in the lot so if you are after cheaper/less desirable items having them auctioned separate would help.

I have also done the quick buy/sell right there if I was interested in one thing and the winner was not or if someone wanted something out of a lot that I won and I was not interested in that item. It does not hurt to ask.

 

[murphy1244]

Pennwalk that is a question that i am sure will get a ton of response first thee reason them pieces that you want is in that box with the rest being junk is that's the only way they can get a bid is there has got to be something good to hide all the bad you just got to determine what the part you want is with and never count on getting anything out of the rest of the stuff in the box and never let anyone know that you are interested in something at the sale auction companies have people waking around listening to the talk and if they know you have a interest in something they will run the bid up on it i have seen it Manny times a lot of people say don't go to auction's but the more of them i go to the more i learn one thing i have learned for never trust the auctioneer or the people working for him in most all cases i'm sure there is some good one's out there but few and far between i learned a lot being executor of 2 estates that had to be auction off and let me tell you most of it was not good

My wife had to sell her brothers stuff at auction and I seen a bunch of his stuff in their garage.

 

[weedpharma]

Pennwalk that is a question that i am sure will get a ton of responce first thee reason them pieces that you want is in that box with the rest being junk is thatss the only way they can get a bid is there has got to be something good to hide all the bad you just got to determine what the part you want is woth and never count on getting anything out of the rest of the stuff in the box and never let anyone know that you are intrested in something at the sale auction companys have people waking around listening to the talk and if they know you have a intrest in something they will run the bid up on it i have seen it manny times alot of people say don't go to auction's but the more of them i go to the more i learn one thing i have learned for never trust the auctioner or the people working for him in most all cases im sure there is some good one's out there but few and far between i learned alot being excutor of 2 estates that had to be auction off and let me tell you most of it was not good

Must be a lawyer......not one fullstop!

 

[Thomas]

If others are bidding on same skid lot and you win,contact those and see if you can sell off what you don't want.

 

[pennwalk]

It's a lot easier when you want the valuable items and all the other stuff is gravy. It's harder for me because I'm a cheapskate. I'm looking for those "you should to be ashamed of yourself" deals. It doesn't happen all that often. I enjoy the auction even though the only one looking out for me is me. The auctioneer did offer choice but no one spoke up. That would have probably been best for me but I hate to ask for it and then not bid. It is an all day auction and the auctioneer has to keep moving.

Chris

 

[studor]

Sometimes it pays to speak up -- I was at an auction in the rain when the auctioneer held up "some glassware" and asked for starting bids -- when he did not get any I figured I would start the bid at two dollars and help him out and speed things up. No one else bid so I ended up with the glassware and a dirty look from SWMBO. Turns out the box was filled with Waterford Crystal --made SWMBO very happy.

 

[forgeblast]

Patience I guess would be a good strategy. My buddy won a shed, for 15.oo. He had to move it but it was 10' x 15' with t111 siding and wired inside. But for him it was just waiting and letting the auctioneer get impatient.