Did I mess up ??

flying H · Sep 27, 2016

I think I may have let a sleeper go by me at the auction Saturday. I hadn't payed much attention to a yellow painted Massey Ferguson until it was too late. The ID plate said MF 40 on it and the grill was cast and squared on the top corners. The rest looked mostly like a ford 8N. After I hear SOLD for under $600 I wake up to the Idea it may have been an industrial model. Could I have overlooked and Orchid while searching for a rose. Too late now!!

marloweg · Sep 27, 2016

sounds like a IND.40 that was below scrap price

JOCCO · Sep 28, 2016

Remember the high bidder payed more than everyone else thought it was worth!!

JRSutton · Sep 28, 2016

Remember too that it's easy to see something go cheap at an auction and think "oh, that was so cheap, I should have bought it".

The reality is, it only went cheap because nobody else jumped in (you). The high bidder got the good deal. If you had bid, it would have been, by definition, more than 600. (and most likely a whole lot less of the great deal you saw happen).

So look at it this way - by not bidding, you did somebody a nice favor and let them walk away lucky.

Tracy Brown · Sep 28, 2016

What is scrap bringing in your area? Here (MS) it is $.05 per lb.

ohiojim · Sep 28, 2016

JRsutton has it right, first auction I attended had a JD 112 mower, bid got to 350 and stopped so I thought i'd buy it in that range so started bidding, I got off at 500 and it finally sold for 775.....so you don't know where it would have went if you had started bidding...

W_B · Sep 28, 2016

(quoted from post at 14:11:02 09/28/16) JRsutton has it right, first auction I attended had a JD 112 mower, bid got to 350 and stopped so I thought i'd buy it in that range so started bidding, I got off at 500 and it finally sold for 775.....so you don't know where it would have went if you had started bidding...

So true, at a auction two years ago there were two identical finish mowers. Me and another guy were bidding and I won at $600. Good deal I thought. He got the next one for $350.

Don-Wi · Sep 28, 2016

Something I've seen play out time and time again, if there are multiples in an auction, the first one always goes for more than the second one. Only time that may not work is when the buyer gets choice of one or both. They usually want both.

Donovan from Wisconsin

Phil84 · Sep 28, 2016

(quoted from post at 13:48:09 09/28/16) Something I've seen play out time and time again, if there are multiples in an auction, the first one always goes for more than the second one. Only time that may not work is when the buyer gets choice of one or both. They usually want both.

Donovan from Wisconsin

Or when there are a bunch of the same thing, buy in the middle, first goes high, middle ones go good, last one goes higher than the first as all the guys who thought if they keep waiting someone out the next will be cheaper... wish I could say that I was not that last guy a couple of times in the past... :lol:

Traditional Farmer · Sep 28, 2016

At an auction you have to pay attention to get the bargains and have looked at something before hand.Plus if its just drug in and no one says anything about the tractor you better bet its going to need something.

504 · Sep 28, 2016

Down to 45.00 per ton today.

Did I mess up ??

flying H

Member

marloweg

Well-known Member

JOCCO

Well-known Member

JRSutton

Well-known Member

Tracy Brown

Member

ohiojim

Well-known Member

W_B

Well-known Member

Don-Wi

Well-known Member

Phil84

Member

Traditional Farmer

Well-known Member

504

Well-known Member

Similar threads