Kubota Tractor - Auction Time

[CAH2873]

I have a Kubota M8560 for sale and I am planning on purchasing M5-111 Cab Tractor. I have a good offer from the dealer for trade in but I was trying to get a couple of more $$$ for it in order to help purchase a pull behind sprayer. I have it listed on Tractorhouse, craigslist, and Facebook Marketplace. I keep receiving these phone calls in regards to AuctionTime and etc wanting to sale it. They are stating that they can get the asking price for my tractor. I have not asked very many questions trying not to lead them on. Has anyone had any experience with this? Is it legit?


Thanks in Advance,

CAH2873

 

[GuidoSarducci]

We tried to purchase some equipment on auction time for our organization and I felt it was easy to bid but stuff goes really cheap.

I’m pretty sure even though most units say no reserve the dealers are secretly bidding up the price and then buying it themselves if it doesn’t hit the money factor.

I bid on one unit and was automatically outbid by $100.00 a shot for over 10k. As soon as I stopped bidding the price held firm until the auction ended. That’s super fishy as a real buyer wouldn’t put a huge number down if he could get it cheaper.

To put it in perspective the unit I bid on was a 5100E with brand new tires and 700 hours that sold for 26,000. $10,000 of that was me bidding alone. It sold to another buyer which was obviously the dealer.

That’s just my experience as a buyer. I can’t speak as to what it’s like as a seller.

 

[jmc]

Did you consider the sales tax you will save by trading it in?

 

[ning]

Did you consider the sales tax you will save by trading it in?

Not sure about tractors, but in CA you pay sales tax on what you're buying, and they don't credit you for a trade-in. The two transactions may be done at the same time, but on paper they're different transactions and unrelated to each other.

The only way I've ever saved sales tax with a trade-in is by having the dealer pretend that they're paying peanuts for the trade-in and in return they charge commensurately less for the new vehicle, thus saving the tax on some of the value of the trade-in... but that presupposes that the dealer will do that, not all will.

 

[ning]

I知 pretty sure even though most units say no reserve the dealers are secretly bidding up the price and then buying it themselves if it doesn稚 hit the money factor.

That would cost them 10-15% or whatever the auction site takes.

I bid on one unit and was automatically outbid by $100.00 a shot for over 10k. As soon as I stopped bidding the price held firm until the auction ended. That痴 super fishy as a real buyer wouldn稚 put a huge number down if he could get it cheaper.

Doesn't smell at all to me. On many sites, you place a max bid (eg $20k) but your bid only goes to 20k if it's pushed to there. In your case, someone may have placed a $20k bid on the item, with a $100 increment, and it would sit at $100 until someone else bid, in which case their bid would be automatically raised by the increment over your bid, until you stop bidding or the bidding hit their max. This is how eBay works, and probably many other auction sites.

 

[jmc]

Not sure about tractors, but in CA you pay sales tax on what you're buying, and they don't credit you for a trade-in. The two transactions may be done at the same time, but on paper they're different transactions and unrelated to each other.

The only way I've ever saved sales tax with a trade-in is by having the dealer pretend that they're paying peanuts for the trade-in and in return they charge commensurately less for the new vehicle, thus saving the tax on some of the value of the trade-in... but that presupposes that the dealer will do that, not all will.

In Indiana, we pay sales tax on the difference between the vehicles.

If OP disclosed his location, I could have looked it up before posting.

 

[Tractor Seabee]

In this area the auction house premium to the seller is 30% of the sold price. They also add a 10% buyers premium so they are making 40%. You could really discount it and still make more than auction. I buy there but do not sell there. So far CL has worked pretty well. Get some scammers but turn them off fast.

Ron