Equipment Auctions

Spark_man · Aug 29, 2006

Anybody out there ever buy from a Richie Bros. Auction? I just found their web site and sure wish I could get to the upcoming one in Atlanta - I need a set of skid steer pallet forks but don't want to pay $600+ for them.

I see where you can bid on-line or proxy-bid, but I'm worried about shipping.

Any thoughts or suggestions would be appreciated.

Soundguy · Aug 31, 2006

Ritchie Bros has auctions at the ocala Caterpillar dealer ( RingPower ) every few months. We've bought from them many times.. and when they were at other sites. Have also used Yoder and frey.

Aside from a few times when i felt the dealership ( not the auctioneer ) had shills out there.. i think the auctions go pretty much like you would think. Demand dictates price.. a bucket of rust can go for minty money if everyone wants it... if no one wants it.. it goes to the only fool holding his card up.

There'es another auction local here too.. Week's auction. I'm pretty sure i've seen a shill there too.. but was guessing it was the personal owner of the machinery.. etc.. not nyone at the auction house..

Soundguy

Spark_man · Aug 31, 2006

As at every auction, you need to remember that if you wanted to buy this stuff at full price, you would have gone to a store or a dealer. It is too easy to get wrapped up in the bidding. You gotta keep your head and set a max price before the bidding starts and be committed to walking away if the item goes higher.

I was looking at a couple of their auctions on-line this week. It seems that they want everything but your first born son to participate on-line and then only on the high dollar items. They had a bunch of 6 ft mowers at the Atlanta auction and near as I can tell by searching the results thing, they all went for $600. The brand was Chase and from the pictures, they were new with steal frame crating (as in shipping crates). There is supposed to be one up here in Maryland in October, maybe I'll find time to make it to that one.

Thanks for the feedback.

Farmwithjunk · Aug 31, 2006

Spark_man said:
As at every auction, you need to remember that if you wanted to buy this stuff at full price, you would have gone to a store or a dealer. It is too easy to get wrapped up in the bidding. You gotta keep your head and set a max price before the bidding starts and be committed to walking away if the item goes higher.

I was looking at a couple of their auctions on-line this week. It seems that they want everything but your first born son to participate on-line and then only on the high dollar items. They had a bunch of 6 ft mowers at the Atlanta auction and near as I can tell by searching the results thing, they all went for $600. The brand was Chase and from the pictures, they were new with steal frame crating (as in shipping crates). There is supposed to be one up here in Maryland in October, maybe I'll find time to make it to that one.

Thanks for the feedback.

About 7 out of 10 times, if something is being run through an auction, it has "issues". If it DOESN'T, so much the better. But.... I bid and buy as if it's a given there's problems. I set a value in my mind, then, unless it's something I just have to have, I stop around 80% of that figure. Long story short, if it isn't a REAL bargain, it goes home with someone else. There is NOTHING you can't find for sale somewhere else. The (relatively) new concept of "BUYERS PREMIUMS" has me steamed. Too many auctioneers employ that scam nowdays. In most cases, if they're using a Buyers Premium, I go home before the first gavel falls.

And NEVER let your competitive nature go to a sale with you. That's the best way I know of to get a $1000 item for $1500.

Ritchie Auctions does several sales a year in Kentucky. (Coal mining equipment mostly) They've got a good rep.

Spark_man · Sep 1, 2006

Good advice. I used to go to a lot of livestock auctions, and it always amazed me that the auctioneer would bring out a case of wormer or some other item. The bidding would start and go up and up and up, 9 times out of 10 higher than you could get it for at your local farm store. Then the buyer would only take one or two of the items and the rest would be offered to other bidders at that price. Idiots!

The wife and I are off to an estate sale this morning - I really like to go to these kind of sales, mostly to watch the people who show up. Some of the things they do and buy (mostly junk) just kills me.

However, once in a while you come across some really good stuff. I paid $10 for a box of new 12 and 14 gauge electrical wire and the woman threw in 3 more boxes with switch, electrical boxes and conduit connectors. There is easily $300 worth of electrical supplies that I needed anyway for finishing the electrical outlets in my barn. Sometimes you get lucky.

Farmwithjunk · Sep 1, 2006

Spark_man said:
Good advice. I used to go to a lot of livestock auctions, and it always amazed me that the auctioneer would bring out a case of wormer or some other item. The bidding would start and go up and up and up, 9 times out of 10 higher than you could get it for at your local farm store. Then the buyer would only take one or two of the items and the rest would be offered to other bidders at that price. Idiots!

The wife and I are off to an estate sale this morning - I really like to go to these kind of sales, mostly to watch the people who show up. Some of the things they do and buy (mostly junk) just kills me. However, once in a while you come across some really good stuff. I paid $10 for a box of new 12 and 14 gauge electrical wire and the woman threw in 3 more boxes with switch, electrical boxes and conduit connectors. There is easily $300 worth of electrical supplies that I needed anyway for finishing the electrical outlets in my barn. Sometimes you get lucky.

The best thing I've ever got at an auction is a lesson in human nature!

flusher · Sep 2, 2006

Spark_man said:
Anybody out there ever buy from a Richie Bros. Auction? I just found their web site and sure wish I could get to the upcoming one in Atlanta - I need a set of skid steer pallet forks but don't want to pay $600+ for them.

I see where you can bid on-line or proxy-bid, but I'm worried about shipping.

Any thoughts or suggestions would be appreciated.

There's a big Ritchie Bros. auction place in Dunnigan, CA, south of me. I get the impression that they mostly handle big stuff like construction equiipment, industrial stuff, big ag machinery, etc. Don't remember seeing anything there or on their website that I could use for my 21hp Kubota B7510HST or 45hp MF-135 around my 10-acre place here in the North Valley.

DavesTractor · Sep 2, 2006

Just remember, if you win something at an auction, you were willing to pay more for that item than the other 50 guys watching/bidding. Makes you wonder if they are smarter sometimes.

5030 · Sep 2, 2006

Being a farmer, I've been to literally of farm auctions. In those auctions (literally hundreds), about all I've bought is a cup of hot cocoa and a doughnut or 2.

I'm like soundguy. I go to observe human nature or should I say stupidity.

Everytime I have bid on something I could use and looks like it has no issues, the price gets bid up for more than new.

I do know one thing. When I pass, my will specifically instructs my wife or heirs to AUCTION off all my personalty, tractors, ag. equipment, machine shop, tools, everything.

I know how stupid people are.

Finally, Ritchie and Yoder & Frey are reputable. I've bought large equipment from both (not farm auctions).