First auction advice?

[Harvster]

Going to my first auction for implements, tools, etc. Any advice on things to do or not to do?

 

[hudlow]

Don't drink too much coffee before you go.

hud

 

[George2615]

Just be prepared, be prepared, be prepared ahead of time. I make a list of items I would look for at an auction and what the new price of each item is. I've been to many auctions and knew my maximum bid only to see the item sell for more than the cost of a new one. Too many people don't know how much an item costs new so know what new price is on an item you may bid on. I recently saw a 4 yr. old 24' gooseneck trailer sell at auction for $1200 more than a new one, and it needed repairs. Don't forget that at most auctions you will have to pay a buyers premium on top of your successful bid for an item. Most auctioneers charge a fee to the seller and buyer so figure that price onto your maximum bid. Some will also add a 3% fee if you pay by credit card.

 

[mikim]

leave money and checkbook at home, .... keep arms folded, mouth shut, eyes and ears open. ..... A fast auctioneer could have me bidding myself up if I ain't re-eeeal careful.

 

[randy41]

if theres a big crowd...leave right away.

 

[thcri]

If you are going after a particular item before even bidding make a high bid amoutn. Sometimes people just get going and before they know it they have bought almost new.

 

[txdon]

On my first auction I overbid myself, the auctioneer made a joke about it, everyone laughed, including me. It was fun. I had to run home and get my trailer to haul away my stash. I bought a 7' blade and a cultivator for about 75% price of of new one, if I could find one like the ones I bought. There were no "steals" that day, too many bidders. Just hope they don't start off bidding with the items you are looking for. One more thing, if the item you want to bid on is about ten items away don't chance going to the restroom.

The smug feeling you have when you outbid the guy next to you is worth the $20 for about 20 minutes.

 

[RollingsFarms]

ive come across a greater number of "deals" with yard sales then i have at auctions. not every yard sale will have implements or tractor equipment, but there are some and the people put a price on them just to get rid of them. check out your local newspaper classified section every week for yard sales near you. call them and ask them if they have whatever it is youre looking for. a couple times of doing this, theyve reffered me to a friend or person they know that are selling what i happen to be looking for, they just havent advertised it. there are other ways then just auctions, to find great deals on good equipment.

 

[Champy]

Don't be shy about inspecting an item real closely - being stealthy or appearing disinterested means nothing. Sometimes you can't always see those broken welds and cracks just by giving it a walk-by, and it saves you some pain later on.

Just like everyone else, I shop for new prices and discount according to age and condition. I have also gone to auctions with no intent of buying anything, but using it as a test to see what the going prices are for implements in my area.

Best advice is to buy it when you don't really need it. Then you never get your shorts all knotted up about winning a bid because you "just gotta have it now". Takes away the buy-it-now pressures, and you never usually overbid on something you don't plan to use for another 6 months. If the bidding is making this a pretty good deal and you know you'll need (want) that item for Spring planting / Fall harvesting, etc....then have at it and low ball your bids because you have plenty of time and other auctions to attend in the mean time - right?

 

[Rara Avis]

George2615 and Champy are right on the money...

Remember normally, anything you buy at an auction is ASIS...no warranty...so look REAL CLOSE

 

[lopezian]

There was a thread on here a few weeks ago about a guy who won an auction for a tractor with hydrostatic drive, only to discover it wasn't hydrostatic - the description was wrong. He hadn't had time or inclination to inspect beforehand.

I know you said you wanted to buy implements, but the lesson is the same. Personally inspect the item before you bid. Don't trust the written description. If you haven't inspected it, then you probably should not bid - it could be a costly mistake.

 

[Farmwithjunk]

Going to my first auction for implements, tools, etc. Any advice on things to do or not to do?

I LOVE auctions! Even if there aren't any bargains, they're quite interesting froma "people observer" point of view. I started going to auctions with my dad. He gave me the basics of the "game". The rest I learned (sometimes the hard way) on my own.

Don't go to a sale with the explicit thought of buying one particular item. You'll pay too much. If it's not a bargain, you don't want it.

You're buying a chance of everything working. Auctions are notorious for selling used equipment that's worn out, broke, or obsolete. Be aware of the condition of what you're bidding on.

Be mindfull of "buyers premiums". (% add-on not included in bid price) What a racket these guys have going! IMHO, auctions should "bid what you pay", and NOT add 10% or whatever.... They make the unknowing THINK they're getting a good buy.

Don't get your competitive juices flowing. When the bid ISN'T a bargain, let the "other guy" have it. That's a BETTER way to get even I've seen people who know the value of an item pay near double the worth just to "win" against someone else who didn't know the value.

Go to enough auctions and you'll see 10 of everything sell. The "WIDGET5000" you've been wanting will be at another sale someday, maybe even selling at a fair price. No need to dive in over your head on this one when the price has shot through the roof. You'll find another one.

There are vast differences in auctioneers, their morals and standards, and the laws of the state they're licensed in. Not every sale is run "legit". Bigger auctioneers with a big staff will work a crowd. They'll be taking "phantom bids" and using shill bidders to run up the dollar figures. Hard to prove, easy to pull off. Bid slow. Don't let the auctioneer "pitch" too fast. Step away from the plate. They'll wait if they think you have another bid left in you.

If you don't get something you were bidding on, don't let it get you down. I've gone home HUNDREDS of times saying "I wish I'd have bought........" Only a couple "WHY ON EARTH did I buy that". One case of the latter will make you more understanding of the former.

Get to the sale with ample time to peruse the sale items. Set a value in your mind of what items are worth. Know what a bargain is. Don't exceed that price.

More times than not, I buy things that at the beginning of the sale, I had no intentions of even bidding on them. They were just selling too cheap to pass on. Buy and re-sell. I've even bought at a consignment sale, placed the same item in a consignment sale at a different location and date, never even hauling it home.

NEVER take your wife. (Don't ask me why I said that. It's not a very happy story)

Most of all, have fun.

 

[Birdhunter1]

Like everyone else has said.. if it's not a deal pass it up. I went to an auction not long ago and bought 1000 ft. of 12 gauge stranded copper wire and 250' of 3/4 pvc conduit and 150' metallic conduit ($60) and a 7.5" Craftsman bench vise for $15. Electrical stuff would have been $20 cheaper if the guy I had rode to the auction with hadn't been bidding against me.

 

[forgeblast]

Remember its a rush to bid. Your heart starts racing and the auctioneer is going fast. you have to be able to stop the bidding when it gets too high.
Auctions are a rush and my first couple i spent too much because i didnt "back off". dont be afraid to say no.
Forgeblast

 

[mjarrels]

The larger the equipment, the lower the price. Two bottom plow is going to bring much more $$ than a four bottom. 160 HP tractor is going to be cheaper than a 8N ford. Like someone else said... first auction, leave you pocket book and check book at home! Just take enough money for your lunch.

mark

 

[pennwalk]

It seems to me that Americans must be flush with cash. At least the ones who go the the auctions around me. If my absolute top, I really want it price is $50 it seems like lately it will sell for $70. I have seen too much stuff sell for more than retail. Maybe auctions have become more entertainment that a place to buy stuff. I can't tell you how many times in the last year I have gone to auctions with a pocket full of cash and not bought a thing.

Chris

 

[mjarrels]

Went to one a number of years ago at a local orchard. They had "thousands" of apple boxes... couldn't believe the price ($20.00 each)people were paying for those apple boxes when that first started selling them. You should have seen the price after a thousand or so were sold. How many do you want at .50 cents each.

mark

 

[Bill Barrett]

Keep your hands in your pockets!

 

[Harvster]

Well, the auction is over and I came out OK. Thanks for all the advice. I ended up buying a Miller thunderbolt 225 AC/DC welder for $40 and a 5ft rear blade for $60. Tons of things that I almost bid on because I knew they where worth $100 bucks and were going for $5. But, I kept asking myself if I really needed it. All in all it was a lot of fun and I think I got a couple of decent deals. There was a 3pt carry-all that I was going to bid on but hadn't yet when the auctioneer looked at me and I must of twitched because all the sudden he was pointing at me saying I-got-forty-now-forty-now-fifty.......All the sudden I was in a bidding war. My personal mental limit was fifty so I quit. It went for fifty but not my fifty. Same thing happened with a subsoiler. My stopping point was fifty and thats what it went for, but, again, not my bid. But, I guess you have to stop somewhere.

 

[yak651]

Well, the auction is over and I came out OK. Thanks for all the advice. I ended up buying a Miller thunderbolt 225 AC/DC welder for $40 and a 5ft rear blade for $60. Tons of things that I almost bid on because I knew they where worth $100 bucks and were going for $5. But, I kept asking myself if I really needed it. All in all it was a lot of fun and I think I got a couple of decent deals. There was a 3pt carry-all that I was going to bid on but hadn't yet when the auctioneer looked at me and I must of twitched because all the sudden he was pointing at me saying I-got-forty-now-forty-now-fifty.......All the sudden I was in a bidding war. My personal mental limit was fifty so I quit. It went for fifty but not my fifty. Same thing happened with a subsoiler. My stopping point was fifty and thats what it went for, but, again, not my bid. But, I guess you have to stop somewhere.

I bought a miller thunderbolt at an auction yesterday also, i paid $55. Hope that was an ok price...