Need some tractor auction tips
- Thread starter Laneman
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RoyJackson
Rest in Peace
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- Nov 17, 2001
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- 23,144
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- Bethel, Vermont
- Tractor
- John Deere 4052R Cab,, Deere 855D UTV, Z920A Zero Turn Mower and assorted implements
Know what you're willing to spend (and what the value of the machine is) before you go...make your bids and once you reach your limit...STOP!
brain55
Veteran Member
The auctions I have been involved in have a preview day. You can pretty much crawl all over the machines and drive them. There wasn't really anyplace to work with them and doubt that it would be encouraged. My involvement was on the selling side, the company I was working for sold a lot of their equipment at 3 auctions in 2008 and 2009. I was the mechanic so I'm the one that got the equipment ready for auction. It was also my job to spend the least amount of money possible to meet the criteria of the auction house. Which was to make sure everything started and moved back and forth under its own power, they also suggested that seats be recovered or replaced and everything had decent tires, we also thoroughly pressure washed everything . This gave me plenty of leeway to send some equipment that was in pretty bad shape to auction and still get good money for it. I have enough skill to mask plenty of problems that the casual observer and even I wouldn't know to look for. I would say that if you are buying equipment to flip, you need to buy really well, especially if to plan on establishing any kind of relationships or reputation down the road and plan on doing more of this. Because there will be repairs that are going to be needed. Even if your plan is too buy low right now and just hold on to the equipment until prices come back around. I was able to hide dead cylinders, large hydraulic leaks, worn out hydrostats, broken 4wd's, etc. Since you don't have the opportunity to really work any of the machines you can't really tell what they will do under a load. I would think that you would need to be very knowledgeable in the type or brand of equipment you are buying, be willing to bring wrenches to pull reduction case, and differential oil check plugs to check oil condition or if there is even any oil there (no oil, no leak), and crack injector lines to make sure all cylinders are running, remember the only requirement is that the machine move under its own power for the day of the preview and up to and off the auction block. I was there early both days, putting air in tires and jump starting machines with dead batteries, trying to insure my boss got the most for his equipment that he could.
I was recently given a machine that I decided to flip, free was almost not a good enough deal, because what looked like a minor repair ended up being much bigger than I had hoped. I was not willing to hide the condition since it was my name and reputation as a local equipment mechanic, so I sucked it up and repaired it. It dropped my profit margin considerably.
Good luck, I hope you are able buy right and make some money.
Brian
edit - For the record I did not drain any fluids to hide a leak, but I did plug some weep holes and stuff absorbent pads around stuff where they couldn't be seen to slow down some leaks.
dmay
Gold Member
If the auction is at a private farm site, try contacting the owner directly. Discuss the tractor history and see if he will permit you to come over and take a closer look. Lift a hay bale to check FEL. Hook up 3pt equipment. This has worked for me in the past.
If the auction is at a public facility you usually have a preview time where you can start and minimally operate.
dfkrug
Super Member
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- Feb 3, 2004
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- 7,516
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- Santa Cruz Mtns, CA
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- 05 Kioti CK30HST w/ Prairie Dog backhoe, XN08 mini-X
Good post, Brian.
In the current economy, you can get some deals again at auction. For
a long time, I would see insane prices paid for equipment with problems.
It is hard to win against fools who will not carefully inspect a tractor
first. I would bring a bunch of keys and a portable jump-start box to
the inspection time, and if you can not start and drive the machine,
assume the worst, and pay accordingly.
I suggest going to several auction to get the hang of things before trying to purchase at one.
Auctions are fast paced and can be a bit disorienting if not prepared.
sweettractors
Advertiser
I have bought thousands of pieces of equipment and tractors at auction. Here is what I can suggest: 1. If you can't start it, walk away. 2. Check all basic functions 1 day before the auction starts and ask questions about the tractor (sometime the owner is around). 3. Have a predetermined maximum bid established in your mind before the auction starts and when it hits that amount, walk away. 4. Give your bid the the auctioneer, not a floor man. 5 Keep eye contact with the auctioneer while your item is selling. 6. Make sure, that there is a live bid besides just yours and the auctioneers. Ken Sweet
blueriver
Elite Member
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- S.E.Oklahoma
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- JD 5520 Montana 4340 Farmall Super A Montana 5720C
As an auctioneer licensed in many states I can tell you that we always get folks dropping in the week before the sale to inspect items ... I never turn them away.
If you don't ask you won't get ... study your prices before you go. And do not forget ... when the auctioneer says sold ... ITS YOURS !!
If you don't ask you won't get ... study your prices before you go. And do not forget ... when the auctioneer says sold ... ITS YOURS !!
flusher
Super Member
- Joined
- Jun 4, 2005
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- 7,555
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- Sacramento
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- Getting old. Sold the ranch. Sold the tractors. Moved back to the city.
Generally, the auction outfit has a preview day before bidding starts where you can check out the tractor, maybe even drive it around. The auctioneering outfit usually fires up the tractors on the day of the auction before the bidding starts but due to liability issues generally does not allow buyers to test drive them then. All the auctions I've attended are "as is, where is" deals. If there is a problem with the engine, tranny, hydraulics, etc, those defects are supposed to be revealed by the auctioneering outfit before bidding starts.
Be sure you understand the terms and conditions of the auction before you bid. Some auctions require payment by cash, certified check or letter of credit from your bank. Check this out before you bid. Lately around here credit cards are being honored more frequently at auctions.
sweettractors
Advertiser
Here, the auctioneer can announce what is good about a tractor, however, they don't because of implied warranty. One thing that they cannot sell in KY, is a tractor with a busted block or welded block. This must be announced. Ken Sweet