Auction Withdrawals

[Iplayfarmer]

I discovered farm auctions about 2 years ago, and I've become addicted. Now the auction season is coming to and end around here, and I'm having withdrawals. Maybe some bantering about it on TBN will tide me over 'till Spring.

I've found that If I buy the buckets of stuff at farm auctions, I can usually sell what I don't want on Craig's list or Ebay and pay my expenses for the whole auction. That way the stuff I keep from the auction is free. (I'm running out of space to put my free stuff.) Sometimes I even make my money back at the auction as people are willing to pay $5 for one thing in the bucket, but not $10 for the whole bucket. If 2 guys want one $5 thing, it's paid for.

My favorite keeper so far is my tandem axle 16 foot low deck trailer that I bought for $200. I put another $50 into lights, wires, and a new jack; and I haul everything with it now. My favorite purchase for profit was a diesel air compressor that I bought for $250 on a Saturday and sold for $650 the next Tuesday. All I did was charge the battery.

I've been burned a few times too. I paid $40 for a Dewalt Chop saw that had a stripped armature. The replacement parts were more than a new saw, and I only got about $15 out of the remaining parts on Ebay.

What have your experiences been?
What tips or tricks have you learned about success at auctions?

 

[dave1949]

I miss farm auctions, we have auction houses here that sell mostly household stuff, some old tools, etc. I guess you should spend the winter planning your pole barn to store your keepers in
Dave.

 

[blueriver]

I miss auctions .... Thats what I do for a living... southernauctionco.com this season things are different. For some reason there are not as many ... I think there are several factors. The first is the economy, folks who need to sell out are hesitant thinking their equipment wont' bring what its worth. Another (my thoughts here) the internet, the average person thinks its cool to sell via CL. eBay or some other internet site ... its easy to sell one item and not pay a commission ... folks need to keep in mind a real professional can sell all the assets in one day for cash.

Anyway, I got a couple scheduled before the first of the year ...

My website link in my signature was kindly asked to be removed by the moderators ... I am licensed, Bonded and insured in more than one state !!
PM me with any anuction leads!!!!!!!!!!

 

[Iplayfarmer]

I miss auctions .... Thats what I do for a living... southernauctionco.com this season things are different. For some reason there are not as many ... I think there are several factors. The first is the economy, folks who need to sell out are hesitant thinking their equipment wont' bring what its worth. Another (my thoughts here) the internet, the average person thinks its cool to sell via CL. eBay or some other internet site ... its easy to sell one item and not pay a commission ... folks need to keep in mind a real professional can sell all the assets in one day for cash.

Anyway, I got a couple scheduled before the first of the year ...

My website link in my signature was kindly asked to be removed by the moderators ... I am licensed, Bonded and insured in more than one state !!
PM me with any anuction leads!!!!!!!!!!

I noticed that even the auctions that did happen this summer were different than last year's in a lot of ways. Prices were really sporadic this year. The economy could have something to do with it. I figured there was less money floating around, so the bottom end was lower. On the other hand more people who would have bought new last year were out looking for a used deal and driving the top end up.

A good auctioneer is sure worth his commission, though. One around here, Gale Harding, knows nearly everyone at the auction by name. About the third auction I went to and spent more than $500, one of his ring men came to me in the middle of it and started asking questions about my name, where I was from, and why I was buying stuff. I could tell that it was a goal of theirs to know the buyers and what motivated them. This guy can really work a crowd.

I usually buy the stuff that Gale hardly wants to bother with. I'm buying the $10 buckets of miscellaneous stuff so that he can get on to the $100K combines and tractors. I've tried to help move things along by getting in as soon as I think the price is right rather than wait for the price to hit rock bottom before the bidding starts. There have been a few times when he will declare a lot sold to me before he even asks for another bid. I think sometimes that's his way of thanking me for moving things along. It may mean that I've bid too much too soon, but some of those one bid sales have been quite profitable.

For me, the biggest attraction to the auctions is that it's a full blown social event. It's so fun to watch the crowd. You can tell that some of these guys have know each other for generations and may only see each other at auctions anymore. There's an excitement and buzz that's fun to be around.

I have a question for you, BlueRiver... As a licensed auctioneer, what are the things you don't like bidders to do at auctions? What are the wrong things to do?

 

[Iplayfarmer]

I guess you should spend the winter planning your pole barn to store your keepers in
Dave.

Trust me, I'm already there...

need opinions on a small work space

 

[jimmyj]

I love auctions too. The social part is the best as you point out. I mean, where else could a fella spend a whole day standing around out of doors waiting to not actually buy the one thing he's been looking at all day!

As a bonus, he gets to come home with excellent deals on stuff with "potential" or that "may be good for something one day" and impress his wife!!!

Ha ha, I love auctions. I'll be right back at them next spring for sure!

 

[blueriver]

I have a question for you, BlueRiver... As a licensed auctioneer, what are the things you don't like bidders to do at auctions? What are the wrong things to do?

For me there is no right or wrong ... there is nothing that bidders do to provoke me ....

I keep an open mind and remain very diplomatic ... as I see it ... every bidder is a potential customer, he or she may need my services someday or may know someone who will.

I like to greet as many as I can with a handshake, thank you for being here, how's the family, sorry to hear about your uncle ... those kinds of little things.

 

[rtdiggr]

I love auctions too. The social part is the best as you point out. I mean, where else could a fella spend a whole day standing around out of doors waiting to not actually buy the one thing he's been looking at all day!

As a bonus, he gets to come home with excellent deals on stuff with "potential" or that "may be good for something one day" and impress his wife!!!

Ha ha, I love auctions. I'll be right back at them next spring for sure!

Hey Jimmyj which auctions do you go to Bryans, Richie Bros, or some local ones to you?

Shane

 

[rtdiggr]

I usually got to Bryans auction. So far i have been pretty happy. I don't think i got anything "really cheap" I do bid on what i want. and stop when i think it is too high.

I think with any auction you have to know the prices of new items before you bid, i have seen a few times people bidding on items they could buy new for the same price.

The funniest guy, this guy bought a skid of Stilh concrete saws [about 10-12] the price was about $300. so i offered to buy 1 he said he would sell me 1 for $300, i guess he didn't think i was watching the bids. So No i am not that gullible and i am still with out a concrete saw.

Shane

 

[charlz]

As a kid I loved to go into the 'junky' second hand stores... the ones with tons of stuff stacked everywhere. You don't find those stores much anymore so auctions give me my 'fix'

I guess I simply don't have the time to sell all the little stuff individually so I stay away from the 'bin' type stuff... I am messy enough as it is without collecting a bunch of stuff I really don't need

I think my most surprising buy was when I bought a small Victor torch set with small oxygen bottle, 2 small acetylene bottles and and a box of 'welding stuff' for $100. Turns out in the box was one of the original Dillion Mark III's also known as DHC 2000 or Henrob 2000 (Henrob 2000 Welding and Cutting Torch - $369 everyday! - FREE shipping). I keep meaning to put it up on Ebay and maybe get my $100 back... it's only been sitting in my shop for 2 years

But the best thing out of that box was a really old pair of gas welding goggles that look like this:

These things are awesome for plasma cutting etc. The sides are spring loaded and you just move them up on your head when you need to see, no crappy elastic to go bad and let the goggles slip down your face etc etc. Mine are really old and the head band and side pieces are aluminum vice plastic.

I think my best deals have all come from Craigslist though... too many people at the auctions that are willing to pay new price for something you don't even know works