Equipment Auctions...Beware

[Luremaker]

I used to go to lot's of auctions. Found some really good deals and over paid for the odd thing here and there. I've stopped going after all of the local auctioneers added a 10% buyers premium. Some even have a 15% buyers premium. The heck if I will pay a buyers premium + 13% in sales taxes. The other thing is around here auctioneers tend to sell all the junk first then get to the good stuff. I am fed up with wasting an entire evening or the better part of a Saturday hoping to pick up something at a decent price.

Now I spend my time searching Kijiji and craiglist. That's where the deals are... plus I can search just about any town or city, right from any computer.

 

[Scooby074]

QRTRHRS: My apologies if you thought i was implying that you were being dishonest.

Just that ive seen the "ill play a rube" game several times, and the "rubes" are far from it, and usually end up bidding against me!!

Ive even seen it in real estate open houses (not an auction) where "rubes" go person to person, asking "innocent" questions about this houses construction and "value".

Alls fair i guess, and if people are stupid enough to tell someone what they're going to pay (or a product's true value) then they deserve to lose out, i just dont go out of my way to help a "competitor".

Luremaker: I agree. See my earlier post about "dealers". People forget about the fees and taxes when bidding (speaking from experience ). Alot of times, when alls said and done, the final price is close to retail. I think Ebay is a better deal sometimes.

 

[stravis]

How do you find equipment auctions in your area? I've searched and all I can find are antique auctions.

 

[QRTRHRS]

QRTRHRS: My apologies if you thought i was implying that you were being dishonest.

Just that ive seen the "ill play a rube" game several times, and the "rubes" are far from it, and usually end up bidding against me!!

Ive even seen it in real estate open houses (not an auction) where "rubes" go person to person, asking "innocent" questions about this houses construction and "value".

Alls fair i guess, and if people are stupid enough to tell someone what they're going to pay (or a product's true value) then they deserve to lose out, i just dont go out of my way to help a "competitor".

Luremaker: I agree. See my earlier post about "dealers". People forget about the fees and taxes when bidding (speaking from experience ). Alot of times, when alls said and done, the final price is close to retail. I think Ebay is a better deal sometimes.

I was not offended, just wanted to clarify my position is all. I do agree with the comments posted here that auctions have lost a lot of their appeal.

 

[Mike Costello]

Funny story about auctions. My wife and I attended an art auction (never done this type of thing) and decided to bid on a signed and numbered print when it came up for bid. She's thirsty, so I give her our ID paddle and tell her to bid up to our maximum if the print comes up for bid.
I'm coming back in the room with two drinks in hand and see the print on the stand and the auctioneer starting the bidding. I frantically signal my wife to jump in on the bidding, but she is scared to do so. Then the auctioneer sees me waving my arms like a mad man and asks, "Sir, are you bidding on this item?" I say, "Yes sir" Well, the room got real quiet and all the other bidders quit bidding. I wound up getting that print for a very good price! That was almost 20 years ago and we still have that print hanging in our living room.

 

[QRTRHRS]

How do you find equipment auctions in your area? I've searched and all I can find are antique auctions.

Those thin "freebie" advertising papers that you can get for free at restaruants, etc. are a source. My tractor dealer always has flyers laying about. The real estate section of a newspaper on Sunday might have some listings. Maybe try some online searching.

 

[bdeboer]

I was at a "downsizing" auction the other night, and the auctioneers (father/son team) did something I found interesting. The son is doing the calling on a couple of decent quality living room chairs although covered in blue fabric. A couple of people have bid them to around 5 each. The father says heck I'll them for 20 a piece. Someone else instantly bids 25 then 30. Personally, I would have let him buy them if I was interested. I did buy a gas grill with a full tank for 10 bucks.

 

[teststrips]

a lot of the auctioneers around here use Auction Zip - Live Auction Locator - Find Auctions Anywhere!

I also usually check the local "free" papers too.

 

[teststrips]

Edit - sorry for the double post

 

[jimmyj]

I love to go to auctions and the more you go the more you learn the in's and out's of the particular auctioneer. Some around here are in "tight" with equipment dealers and you see the same individuals buying certain types of equipment but not touching anything else year after year.

As mentioned, I also find talking to the crowd helpful, get to know a few regulars and they will be a wealth of wisdom "that guy is a scrap dealer, the fella over there works at XYZ equipment sales, the fella over there brought those 3 tractors to the sale and the guy in the red hat is his buddy...."

I've found that you have to go to A LOT of sales to get any real bargains. Even then, wait around all day and find out somebody else is ready to pay more for the item than you could get it for new!!

Other than small stuff, I've pretty much given up on sales and buy what I need used off the side of the road or from ads or dealers. The best deals seem to come through acquaintances "hey, Larry is selling an XYZ...:"

One thing I find interesting about estate sales is whether or not the family is on site. I went to a sale a few years ago at a retired farmer's place. His name was Bruce and he was there. He was a kind and wonderful man. He sat there and watched the stuff he'd bought his whole life get sold bit by bit. Right from old CASE tractors that were hand crank up to an $80,000 J. Deere that went for about $42,000. I felt bad for him, watching his whole life sell, but his daughter said to me "he's OK, he knows that part of his life is over now...."

It was kind of a neat snapshot into history but to this day I think of how he must have felt.

 

[charlz]

I've found that you have to go to A LOT of sales to get any real bargains. Even then, wait around all day and find out somebody else is ready to pay more for the item than you could get it for new!!

Yep. That's how you learn the 'value' of things though

One thing I find interesting about estate sales is whether or not the family is on site. I went to a sale a few years ago at a retired farmer's place. His name was Bruce and he was there. He was a kind and wonderful man. He sat there and watched the stuff he'd bought his whole life get sold bit by bit. Right from old CASE tractors that were hand crank up to an $80,000 J. Deere that went for about $42,000. I felt bad for him, watching his whole life sell, but his daughter said to me "he's OK, he knows that part of his life is over now...."

Shortly after we moved in the old guy across the street was being put into a home and his whole place and all his possessions were auctioned off. The furniture was out front and the rest of the auction was out back. He sat on his couch, which was on the front lawn, and watched the wind blow through the trees the whole time. That was a pretty sad scene

 

[valley]

It would break your heart to see what you just discribed. A while back bought the kind of battery charger I always wanted from a lady whose husband had passed away. I gave her what she wanted for it without question. When I use it I think of this man, who I never met,how he must have taken care of this tool. Many of my tools I appreciate more because of who owned and used them.

 

[D7E]

Theres nothing wrong with auctions....Just treat it as you see it and believe nothing that you read or are told......I buy virtually everything from auctions from a $5 CB radio to a $100'000 combine...Just price it knowing the fact that it way cost half what it is worth to fix it...Unless you know the vendor and the item in particular it's only as good as how hard you inspect it...........

 

[D7E]

It would break your heart to see what you just discribed. A while back bought the kind of battery charger I always wanted from a lady whose husband had passed away. I gave her what she wanted for it without question. When I use it I think of this man, who I never met,how he must have taken care of this tool. Many of my tools I appreciate more because of who owned and used them.

Heartbreaking story and rightly so but my sister got caught this way .....Lady in her 80's,Husband died so had an auction .....My stupid sister went and bought a 5 year old car without asking me ,dad or any of the boys to look at it......5 years old , polished real nice,30'000 on the clock... the transmission was shot and the back axle was bent......Auctions are auctions..?

 

[Taylortractornut]

most auctions here you cant bid yourself up, and if your from out of state some will drop taxes or the buyers fee or both. I have been known to switch numbers with my friend if its a super high buyers fee. I dont like an auction thats advertised as absolute then they start no selling the items. C&W trailers has one yearly and I had won a pallet of cylinders and steel, for 450. They no saled it and picked it up with a fit and moved it down the line I rebid 250 and got it then lol. TAC Enterprises runs a good quarterly auction and have a pair of absolutes rows and then the standard rows. They run 2 auctioneers and no BS. They dont tend to mix good stuff with junk either. I went to another auction last mnth and they would have a good item in with pure crap, then auction pallets of crap off peice by peice. I didnt stay for that one either.

 

[survriggs]

I've always wondered what a "reverse" auction would be like. You start the item about twice what it's worth and go down from there. The first person that bids gets it.

 

[D7E]

I've always wondered what a "reverse" auction would be like. You start the item about twice what it's worth and go down from there. The first person that bids gets it.

I think the scottish did something similar to that at land and property auctions did'nt they...?