Iron planet auctions.

[Fixastuff]

I've tried bidding on a few excavators recently. I've had the winning bid on a couple at the time the auction was supposed to end, then they extend the auction for 3 extra minutes to or three times and it goes over what I want to spend. Seems kinda shady but maybe it's normal.

I'm just going go back to looking at regular for sale ads and a known price.

 

[Streetcar]

I've tried bidding on a few excavators recently. I've had the winning bid on a couple at the time the auction was supposed to end, then they extend the auction for 3 extra minutes to or three times and it goes over what I want to spend. Seems kinda shady but maybe it's normal.

I'm just going go back to looking at regular for sale ads and a known price.

Many times the auction is extended if there is a last minute bid

 

[Eagle1]

Auctions exist to get the highest return for the seller, having an extension after the last bid is very common.
You have to stick your limit on items and at rare times you get a bargain.

 

[scootr]

I watch a car auction where there is 2 minutes added after each bid past the end.
So it's not sold until a bid stands on top for 2 minutes. Makes sense

 

[DaBear3428]

I watch a car auction where there is 2 minutes added after each bid past the end.
So it's not sold until a bid stands on top for 2 minutes. Makes sense

went to an in person car auction a few years ago, we place the winning bid, the auctioneer banged his gavel "Sold" the seller agreed to the price and then someone shouted "if i knew you would let it go that low i would have bid". they restarted the bidding and we walked out.

 

[scootr]

went to an in person car auction a few years ago, we place the winning bid, the auctioneer banged his gavel "Sold" the seller agreed to the price and then someone shouted "if i knew you would let it go that low i would have bid". they restarted the bidding and we walked out.

That BS !

 

[Paystar]

That BS !

What scootr said. They'd learn some new language if I was there.

 

[Paystar]

[Auctions exist to get the highest return for the seller] to get the highest seller and buyer fees, LOL

 

[scootr]

Been an auction fan for some time. Used to go to barn auctions. These days I follow online auto auctions mostly for collectable cars. If you know what are looking at or have some sort of edge ( knowledge or skills) you can get some good deals.
Just because its an auction doesn't mean you are going to get screwed. Heck the neighbors house was auctioned off after he walked away in 2009. Its worth about 4 times that auction price today. How smart was he?
Buying at auction does mean you are going to have to be willing to walk away empty handed a few, even several, times before you get what you want.

 

[DaBear3428]

Been an auction fan for some time. Used to go to barn auctions. These days I follow online auto auctions mostly for collectable cars. If you know what are looking at or have some sort of edge ( knowledge or skills) you can get some good deals.
Just because its an auction doesn't mean you are going to get screwed. Heck the neighbors house was auctioned off after he walked away in 2009. Its worth about 4 times that auction price today. How smart was he?
Buying at auction does mean you are going to have to be willing to walk away empty handed a few, even several, times before you get what you want.

I agree you can find bargains at auctions, on the other hand you can find Auction operators that have to be screwed into the ground when they die.