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Auction preferences

M

MNfarmer

Member
Hi everyone, I have an odd question but I'm hoping to get some feedback from all of you. My father in law is going to
be having a farm equipment auction this summer and is torn between an in person auction or an online auction. Has
anyone here done one or the other? What type of auction would you rather bid on? He has a few collector tractors so
he'd like to draw as many people as possible. Thanks for your help!
 
I t really depends on how much small stuff or hayrack type items he wants to sell as if online he can palletize items to be sold and do ok, but selling tractors and implements on line does seem higher but not always and higher grain prices may push things even higher
 
A third option would be a live auction with online bidding. Most of the better auctioneers around here can do all three, online only, live auction and live auction with online bidding, like proxibid.
 
I have been at auctions where BOTH live plus online bidding is used but I never liked it...I made a living buying and selling at auctions for years when I was farming and liked it when there was NO buyers premium and NO on line bidding but time has passed me by lol glad I don't have to do that anymore. When doing it for a living I learned most of the tricks and scams and by bidding and the subtle winks and nods, one had to in order to survive in the business.......

John T Past used truck tractor and farm equipment dealer, but hey it was fun in the day and made a living in addition to farming. Archbold Ohio, Stilesville Indiana, Sikeston Missouri and dealers all over Indiana and Illinois were my haunts lol
 
Have a live auction, with an auctioneer capable of doing the on line thing also. It may be confusing and/or annoying, but I think it's here to stay. Forget the "buyers' premium". That, to me, is the real turn off.
 
I did online once and never again. i got screwed once. was 3 hours away and couldn't take the time to take 2 days off. to look an 1 to go load up. Was a dairy closing sale and I needed a couple cows. put in very low bids and waited till the sale day to bid up a little. Had put bids on 6 cows as once it starts selling you can't bid up as fast as it sells. If you had superman speed internet it might work. you also can't take off a bid because you win 2 or three. Never thought a dairy could operate with over 50% lame cows. Well I ended up winning 4 cows. 3 lame. went to load next day and was the second person there and saw all those limping cows. On the sale bid they had all the info on milk records and on 1 or 2 cows they had 3 teeter and looked to be respectable sale. Boy was I wrong.
i like to see what I am bidding on when I'm bidding on it, no more online for me.
 
We prefer in-person auctions.

But I believe you can do an in-person auction that also allows online bidding.Perhaps the hest if both worlds???

And we would certainly insist on an auctioner who lists everthing online with photos... I think there are still a few dinosaur auctioneers who only put out fliers and ads in newspapers.
 
I agree with having both a live and online auction simultaneously. You are looking at an auction from a sellers point of view. You want all the buyers you can present the auction to!
 
I think it depends on the material being sold, have been to some auctions with only a couple big items yet tens of thousands of dollars in parts and tools, in person the small lots bring more because people are already there, no one wants to drive an hour to pickup a box of hardware they bought at an auction
 
From what I have seen in the last year if I had an auction it'd be on line only with a couple of preview days.on line no crowds,parking,theft,etc to deal with,takes a lot less labor and prices have been good or better than in person.As a buyer when I buy on line especially small lots don't have to worry about running them to the truck so they won't get stolen or getting distracted or not be able to see an item when its sold.
 
online will get more buyers or you can offer both been common in my area,but whats online at public auction is just major stuff, i would do online
 
Online auctions tend to benefit the seller- more eyes will see it online than will typically drive out to an onsite auction and you'll get more bids from thousands of potential buyers. As long as your internet connection stays up, youre golden, no matter the weather. You also control pick up times.

On site auctions tend to favour the bidders- you are only bidding against maybe a dozen serious people in a crowd of a few hundred at most. That keeps prices lower- usually...
 
(quoted from post at 13:01:15 01/31/21) Your auctioneer should know the market and suggest what is best for each seller.
Click to expand...

The auctioneer is only going to advise the seller to go with the services he offers.
100% of the time.
 

Proxibid is okay, but most auctioneers utilizing that venue are too lazy to type in any details of the item.
Just a pic and ten words of what it is and that is all.

So if were to sell via any online auction service, I would want a better effort made in sowing details of item.
Maybe even
let me have access to the program and let me type in the info my ownself..
 
I was told that the online would cost me an extra thousand. I had too much small stuff too. Main thing was my gun collection.
 
(quoted from post at 13:16:02 01/31/21) I was told that the online would cost me an extra thousand. I had too much small stuff too. Main thing was my gun collection.
Click to expand...

There is a consignment auction near me every month.
They do an onsite auction of everything, including smalls.
They also do online via proxibid, but only for the larger and/or high value items.
So it can be done both ways even if there is a good amount of smalls.
They sell the smalls first onsite, then the auction goes to onsite and online sales.
 
I agree but after 20 years in dairy I didn't think I needed to worry. Turned out the father had died and the 2 sons didn't get along and split up so they had to sell to split the assets. Mother was there but she liked sheep not cows.
 
Thanks yep and its been a good ride, electrical engineer, farmer, used implement dealer, and attorney now mostly retired and travel the USA especially Natl Parks in the RV. We have been fortunate and blessed on our 50 years of marriage

John T
 
I have never bought anything on an online farm auction. I enjoy the social part and hot dogs at an in person auction. I dislike the coldness of an online auction.
 
If its a good deal of money involved you need to check out the item before you bid just like any other auction.Also need to read the terms just like any other
auction.
 
I would run both live and online if you have a bunch of smalls or advertising items. Live bidding is too unpredictable anymore with the local economic situations and varying weather conditions. It was under a thousand for running internet on my sale and it was well worth it. We would have took a beating on the final numbers without help from the net.
 
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