I attend a couple weekly auctions. The early in the week one charges the buyer 7% for cash, 10% for check. Seller premium is 20%
The later in the week one is 10% buyer with a 3% addition for credit card and 20% for seller. That gives the auctioneer up to a 33% profit on sales. Throw in sales tax and it gets worse and worse.
What some auctioneers like is for you to buy it today and sell some of it tomorrow. That gives them up to 66% of the buying price.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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