Need some tractor auction tips

[redneckford]

just buy whats on sale not for sale

 

[Soundguy]

yep.. we have shill bidders at our local auction all the time.

also.. now there is internet proxy bidding now too.. what a hoot. I was bidding on an old tire and rim.. and a 'proxy' bidder was too.. go figure ...

soundguy

 

[sweettractors]

yep.. we have shill bidders at our local auction all the time.

also.. now there is internet proxy bidding now too.. what a hoot. I was bidding on an old tire and rim.. and a 'proxy' bidder was too.. go figure ...

soundguy

Here the Shill bidders work as floor men for the auction company. Illegal, still it goes on every auction. I have seen lots of time just the auctioneer and 1 bidder run a piece up to the end. BTW, This auction company has won the KY state auctioneering championship in past years. Ken Sweet

 

[Soundguy]

yep.. owners, owners men, and auction men roam our local auctions. I try to find stuff they aren't interested in...

soundguy

 

[Reg]

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!

Yes, DO know when to stop and DO STOP THERE !!!

Remember that auctions, by their very nature, sell to the person who thinks an item is worth more than anyone else there thinks it is worth - or the fool that just gets caught up in a bidding war and doesn't want to "lose" to the other guy (-:
This is (obviously) good for the seller, but that isn't YOU.

Watch for ghost bidders too, if there is someone there who ALWAYS puts in a bid when it gets quiet, but never seems to stick in there until the actual sell... well, it is illegal in most places, but that person could be there for a purpose other than actually buying.
They don't NEED to stay in, they just need to get a bid war started.

 

[EddieWalker]

I go to a few auctions every year and have managed to find a few good deals, but mostly, I walk away from most things that i was interested in.

I spend a lot of time on Craigslist and the free classifieds paper. I have a good idea of what things are going for and what they are worth. I've seen used stuff sell for brand new at auctions, and junk go for what working stuff sells for.

Auction fever is a very real thing. You have will hear it over and over again, know what you will spend and then quit when it goes over that amount. Its only a good deal if it's for that amount or less. Don't second guess yourself and NEVER FALL IN LOVE WITH IT!!!!!!

I've missed out on some deals this way, but I never regret not buying something. There is always another auction, and there's always something else out there.

Just because it's a good price doesn't mean it's a good deal.

I had a problem with my dozer. The hydraulic pumps were fading on me when the engine warmed up. I had it hauled to the dealer and they told me that all three hydrualic pumps had gone out on me. This was total BS. I had already rebuilt one and the odds of all three failing at the same time told me they didn't test them or didn't have a clue. They wanted $25,000 per pump.

The service manager and several mechanics all said to put it up for sale at auction. Nobody would be able to tell the problem when it was cold, and I should be able to get a good price for it as it is. I declined and after a lot of reading, found the problem to be in an adjustment the regulated the pumps. A simple turn of a nut solved everything.

A guy I know who has equpment and has done work for me in the past bought a backhoe at auction that sounded great and went for a good price. After running it a few days, he realized it didn't have the power that it should have. He got to looking at it closer and discovered that one of the injector lines had been plugged with a BB. No fuel was getting to that cylinder, so it sounded like it ran fine, but under load, it was gutless. The engine was toast and he had to buy a brand new engine for it.

My point is that you don't know what you are getting at auction. Check it out, look for leaks or brand new paint to cover up a problem. Try all the controls, and listen to your little voice for red flags. If it's something you cant' test or try out, walk away. Too many hide problems by pretending that something simple is what's wrong when it's really something huge.

I was looking at a used Kawasaki Mule. The owner didn't want to let me drive it because the water line to the radiator had a leak in it and he said he didn't want to engine to overheat. For $5,000 he wasn't willing to replace a hose on it. This was a huge red flag for me and made me question the owners integrity. I walked away and think he was hiding something by not replacing that hose.

Go into it looking for problems and ways that an owner might hide those problems. Lots of items at auction are legit, but it's also a good way to sell somethng without having to deal with an unhappy owner who got screwed by paying for it and finding out it's total junk.

Good luck,
Eddie

 

[Soundguy]

Yep.. any time I see a machine with a seemingly easy to fix bit of damage.. and the owner won't spend 10-20-50$ to fix somehting that could literally up the price by thousands.. well.. it makes me think the seller is hiding something...

soundguy

 

[sweettractors]

Never buy a tractor that is represented by the seller as being just overhauled or transmission rebuilt, etc.! Sure sigh the fix did not work and they are trying to get out from under it. Ken Sweet

 

[Diamondpilot]

My experiences with auctions were not good. Went to buy a $4000 3 point backhoe that sold for guess what, $4000. It was worn out and 5 years old. I was hoping to steal it for $1500 or so. Same happened with a couple of other items. 9 times out of 10 I am better off buying new in my area. People just get plain stupid with the bidding.

Chris

 

[Soundguy]

took me 3-4 ys to get a set of rops for my ford 5000 at auction. In many cases I saw them go for retail... minus shipping of course.. but there were on 20-30+ year old rops too..

soundguy

 

[sweettractors]

If a person is new at a farm equipment auction, it is a good idea to have a partner to help keep a eye on shill bidders for you while you concentrate on the bidding process. Ken Sweet

 

[Giles]

Never buy a tractor that is represented by the seller as being just overhauled or transmission rebuilt, etc.! Sure sigh the fix did not work and they are trying to get out from under it. Ken Sweet

Thats for sure:thumbsup::thumbsup:

 

[Soundguy]

yep.. last auction I went to, really needing a piece of equipment, I brought a buddy with me to keep an eye out.

luckilly there were 3 vans going around the auction yard.. and the shills stayed with the more expen$ive equipment.. not the accessories I was looking at.

soundguy

 

[kenstrac]

And then you have the Yuppie that walks around with his hands in his pockets,doing the wee wee dance just waiting to buy something-anything and doesnt care what he pays.
I went to an auction they had a flail mower I was bidding on it and the guy next to me was also bidding on it,got to more than I wanted to pay and he got it,he then turns to the guy he was with and said "see I told you I would get that rototiller"

 

[Egon]

And then you have the Yuppie that walks around with his hands in his pockets,/QUOTE]

If'n your asking questions about auctions and bidding it's best to keep your hands in your pockets for at least the first dozen or so till you get it all figured out!:thumbsup:

Don't know about the dance though??

 

[teg]

Going to an auction in two weeks...

I would try and find a couple this weekend... just to go to... see what's going on... and good luck. I quit going to auctions... never saw any real bargains...

 

[Soundguy]

And then you have the Yuppie that walks around with his hands in his pockets,doing the wee wee dance just waiting to buy something-anything and doesnt care what he pays.
I went to an auction they had a flail mower I was bidding on it and the guy next to me was also bidding on it,got to more than I wanted to pay and he got it,he then turns to the guy he was with and said "see I told you I would get that rototiller"

even better.. I was bidding on some tires on rims 16.9-24 turfs, even had good centers.

guy bidding against me was hyper like he'd never been to an auction or something. I hit my top end and then he outbid me.. the hawker down there between us called for more bids, and the guy UPPED his own bid! yep.. he got the tires and rims...

funny thing though.. I noticed they were for sale the next week.. I asked about them at the office and they said the buywer re listed them when he found out they were the wrong size... he had never even taken them home! they were still setting inthe same spot... the next auction I showed up again.. had one bidder against me who dropped out at a just over a hundred bucks.. i got em for 125 out the door BP and all. which by the way was LESS than the previous buyer bid.. so he took a bath on those because he couldn't read tire sizes or something... ???

soundguy

 

[Maknwine]

Never buy a tractor that is represented by the seller as being just overhauled or transmission rebuilt, etc.! Sure sigh the fix did not work and they are trying to get out from under it. Ken Sweet

This is so funny right now. My dad just picked up a 51 8N at auction that isn't painted right, sheet metal is perfect(all of it), but he said the owner told him it was just overhauled. He looked it over as good as you can and for $1500 I think he did fine b/c if it blows up, he'll give me a good deal on the sheet metal for my 1950 8N. It runs decent but has some issues to be worked out, but after he bought it and ran a bushhog with it he questioned the "overhauled job".

 

[Soundguy]

might have been rings and bearings and paint...

soundguy

 

[sweettractors]

might have been rings and bearings and paint...

soundguy

Yes it could have been that or the STP overhaul Ken Sweet