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Tractor Talk Discussion Forum

Re: Why Don't We Think of Things Sooner?

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Author  [Modern View]

09-26-2013 07:33:28

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I go to about 40 auctions a year and I see many people who just can't seem to pull the trigger[bid} and then they walk around and say "boy you bought that cheap'. They often follow me around asking "what would I take for it?" hoping I will sell it for only a little more than I bid.

One time I bought a good running Farmall M with a wide front for $700.00. Right away a man wanted to buy it from me and I asked him what was his offer and his generous reply was $50.00 more than I paid. I took it home.

When you go to an auction pick out the items that you would like to buy and set your price. Bid until it goes past your high bid and walk away. Unless it is something you really need do not bid very high. Auction fever can cause otherwise smart people to make crazy bids and way over pay for a common item. Watch the TV series Storage Wars and you will see what I mean.

The gates you saw sold for two dollars might have gone much higher if you had bid.

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steve terplak

09-26-2013 16:00:10

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 Re: Why Don't We Think of Things Sooner? in reply to 2badlybent, 09-26-2013 07:33:28  
when my dad and I go to auctions, we use a "max bid plus one" rule.
when we first started going to a lot of auctions, we would always set a hard max and made sure that neither of us went above...we started to find that sometimes, when being second bidder, we would experience that remorse of "I wish I had gone a little higher" or "what if his max was the same as ours".
so now, on any medium to larger items 50 to 1000 dollars, we always set our max but are willing to go one bid increment higher.
we've gotten a couple things that we otherwise would have lost out on and have been pleased.

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