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Aution Prices

D

DeltaRed

Well-known Member
Went to a small,local consignment sale today.Seems most of tthe auction atendees dont know that there is a resession going on.seems everything brought GOO0D prices,even the junck!
 
There was intrenet bidding going on alongside the 'live'bidders..Disturbing,disgusting,etc.I like to know who my competition is,and look him"in the eye".how do we know the bids are not being"run up"
 
I cant understand it either, around here equipment is still selling high. I thought there would be some deals, but no.
 
I can't remember ever getting a deal at an auction, and also if you don't know the auctioneer you usually wont end up with the item. I have bid on tractors that I wanted and would still have bid higher but when the auctioneer thought the bid was high enough he sold it to a neighbor or fellow that he knew by first name. I don't even bother going anymore. I watch a local on line auction and your right, the prices some people pay are unbelievable!! It's not like its the last one on earth.
 
Well with the way the economy is the people that have $$ are there and the one that do not have $$ are not. The people with $$ are stupid and will buy a used piece of junk for twice what it is worth and the people with out if there only buy if it sells for 1/3 of what it sold for new. Seen it time and time again at auctions people buy things and are proud of how much they got it for till a person like me tells them they could have gotten it for $50 less if not more. Remember a guy who got a Lincoln welder and payed like $250 for it and told me hey I got one heck of a deal and I told him yep you got one heck of a deal when you could buy the same thing new for $159.95 and that was the price for one at that time
 
Auctions are not what they were in the 80's when I first started going to them. Very few small farms left to sell out. Most of the items are big ticket stuff, from big farms. Also high scrap prices have pushed prices up. Something like a Farmall H, weighs maybe 4k. That might bring 5 or $600 at the scrap yard. Years back, I bought a running H for $500, drove it 8 miles home.
 
I've noticed prices here run very close to what dealers want for used equipment. Several machinery jockeys hit most auctions buying up some of the most abused machines and tractors to resell. Also I think the serious buyers of good clean equipment have already priced things out at dealers and will bid almost that high trying to save a little.
Very few bargains for cheapskates like me.
 
I also have wondered if they were just running it up on me! I have attended several Ritchey Bros auctions, and had these phantom bids come in and make me drop out. I really don't belong there anyway, don't have enough money to play in their game!
 
Believe me when I say farmers in NW Mo did well this past year. I have never in my life seen as many people driving around in Brand new Trucks!
 
Yeah. One bugaboo is telephone bidding. One of the auction crowd has a cell phone stuck in his ear claiming to have a bidder on the other end. He may actually have one, and he may be just bidding himself to run it up.

I was at an auction last fall where they had a freshly painted "Super H TA" Farmall. Think about it. Farmall never put a TA in a Super H. It had to be the rear of a 300 mated to the front of a Super H. Yet the auctioneers bragged it up and bidders went berzerk.

"Buyer beware" still stands.
 
Even in a recession or depression there are always people with money.The farm economy is booming right now with $6 corn and $13 beans.Those that have money are spending.
 
Scrap prices were up last I checked.

I sold some 5 weight calves last week for a little over $120.

Corn is push'n $6.50

Beans up in the teens.

There is only a recession go'n on if you listen to the news.
 
From hat I've seen, auction prices are high 'cause new equipment prices are high. Recession or not, prices on new equipment (or most anything else new except stuff like big screen tvs) has not gone down...
 
Auction class 101=Auction(to increase:public sale of property to highest bidder.)Per Webster's Dictionary.It is not the place of the Auctioneer to get the lowest amount for his client.
 
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