As long as we are on the auction topic...

What are thoughts on online auctions?

There is a neighborhood farm selling out in two weeks utilizing an online auction.

What are people's experiences?? I have not bid in an online auction, but may this time.

I buy items at auction on line, without inspecting an item I make my bidding accordingly to the possibility that I'm going to get screwed. In your situation being able to inspect the items and not use up a lot of time in travel you should be able save some time by biding on line and if it sells for more then your willing to pay you haven't wasted a day at an auction

I've never bid one but I know people who have and never had a problem. Now if this is something like a tractor I would not eschew a pre-auction inspection.

If I'm gonna do that,I'd rather it was completely online and not a simulcast live and online. I almost took a screwing in a simulcast one time because I couldn't see what was going on. I could hear it live though. I had hit my limit on an item and the auctioneer said he had another onsite bid and they wanted me to bid again. Supposedly the onsite bidder got it. About 30 seconds later,it said onscreen that I got it. I went down on Monday,paid the person who was there onsite and brought the item home,so I really did get it. I just don't know where the bid came from that they wanted me to top.

I am not an auction fan, so on line bidding is attractive to me. No standing around in the cold/mud freezing. I suppose someone might be concerned about getting screwed in their absence, but that could just as easily happen with you standing right there. I have purchased two machines, seen only in pictures, with on line auctions. One is a $25000 tractor, the other is a $2500 dump truck. I may just be lucky- no bad experiences. I have also bought machines from out of state from only pictures. Maybe if I wasn't able, or didn't count on doing my own repairs, I would feel differently.

setting at cattle auction maybe 60 years ago. Neighbor kid my age said sure not many people here today, but dad says only takes two interested to make a fair sale. Another young fellow who's dad was an auctioneer but just out of petitionary for auction fraud said guys my dad can do it with one!! True story!!

I would rather attend a live auction. I have participated in online auctions and have no problem with them.

Here's an absolutely true experience. A nationwide online real estate company had a house listed adjacent to our church property. Our church was interested in buying it. We had the high bid until near the time for the auction to end. At a half hour before the time was up THE AUCTION SITE WAS NOT AVAILALBLE! (I was watching) Minutes after the auction ended the site was back up. Our church did not win the auction, a local realtor did! He had to be in kahoots with the auction service. Soon the realtor wanted to sell the property to our church for about $20,000 more than he paid, we said no thanks.

Hope that crook likes heat???????

Same kinda thing happens with bankers and foreclosed properties.
The bankers buddies always get the good stuff.
Very easy to do when the bank is privately owned.

Many of those real estate auctions are not absolute auctions. They start to negotiate the point of the high bid. They almost never say absolute auction.

That realtor already had a reputation before this. Reminds me of "It's a Wonderful Life" or "A Christmas Carol"-- takes all kinds.

The realtor got the house. There were a bunch of kids living there for a while, now empty, bet they didn't keep up with rent.

If you have to pay with credit card, that gets expensive. More so than wiring the money, but a lot of people do it.

Here is what goes down around Here in Southern Ind ,.,Beckorts Are the self Proclaimed King of internet auctions ,. When He does a Live auction he stumbles thru it , IMHO. so, He seems to prefer internet , And I do too ,.
Here are My reasons:
The hours for inspection are set,or by appt,.. therfore , every Tom , Dik and harry are not hanging around your place a week before getting the auction ready.

pictures usually are better than real life, IMHO
Bid wars are more likely to happen
You have no idea who is bidding You Up. which helps the seller. used to be we All went by our e-mail addy name or initials,. I Knew Who CATman, dairydoer was,as well as , junkman, sorella,dirtdiger ,old goatee , and we would yield to one another ,.then they went to number coding and they changed at every auction.
One thing i can do is watch bid history and that helps me understand the resolve and their habits ,,. the 2 AM bidders must have insomnia , and will bail if they could get out bid .
from the sellers standpoint it is a win -win , IMHO , You Dont have a crowd swarming your place at auction day ,
You Have the luxury of removing a item a few days before the auction ends , At Least BECKORTS offers that option .
You Also Can tell if your auction is going to be a success based on bidder reaction ,. That is if you are seasoned with such auctions .
THE Last HOUR is THE TRICKIEST OF ALL .When time is about to expire there is a stopwatch , If someone bids in the last 5 minutes the END time is extended another 5 minutes . This is WHERE THE CRAZY BID WARS can occur , , My Sara(case in Point ) was all windup on a washer dryer outfit, She sat at 60 bux for a week, then on auction day bounced up to 125 with her help,. I advise her to stop biddin , until last 5 minutes and then submit her hi bid Which was 175 in her mind,. Then I went out and raked hay ,.about 8 hours later i came in , the auction ended,And she was Happy ",I Got The Washer/dryer" , "Great , Did you get in for 175 or less?" , "Haleno,They PiztMe off,but i got it for all $390 ",My laughter at her indignance and Her being adamant about paying only 175 bux . LOL blowed my beer threw my nose i just took a chuga lug from.,. Sara Said ," I had it at 175 , with only 2 minutes left and "shauna' was not bidding any more. When this Idiot "Charlies car wash " threw in a bid, HOW DARE HIM ,that jakaz,ITS MINE,So I run His AZ UP till he quit" LOL

Online consignment auctions claim they have a lot of advertising expense ansd picture posing to get the best angle. B/S , You still can't hardly tell a damthang
if you are serious about buying a moving part machine .. THEY charge 10% to sell, and 10% to buy "going and coming "its a money making proposition for the auctioneer.and in reality a lazy mans fightto watch as others slug it out as the clock ticks away and automatically resets or sells ,.. either way , IT IS BIG MONEY for the auctioneeer, We Need competition Here ,

One or the other ,, I do NOT care for simulcast/Live Auctions. too many ways to cheat,and easily manipulated by any one being unscrupulous

The bid came from the same place as if you were standing there.
From thin air ! Auctioneers usually keep some bid numbers for their own use for such occasions !

When bidding in a simulcast auction, you must pay attention to the numbers, not the video/audio. The video/audio can be several seconds delayed, so bidding gets all confused.

There are also better live/online bidding services than others. IMHO Proxibid is the most refined service I've encountered so far. I tried Bidspotter last weekend for a loooooooooooooooooooooooong consignment sale, and that worked well too. Hibid blows chunks.

IMHO the ability to bid live right along with the people in the auction is great. I've been able to "attend" auctions at work. I "went" to an auction the day after I had ankle surgery from the comfort of my recliner.

In the aforementioned looooooooooooooooooooong consignment sale, the first item I wanted went less than an hour into the sale at around 9AM. The next item I wanted didn't sell until 5:30PM. The last one didn't sell until 6:45PM. It was taking about 2 hours to sell a row of equipment, as everything was being dragged through the auction barn, and by 1PM there were over two rows of equipment left before my next item, so I left, ran some errands, went home and watched it from the comfort of my living room. Got outbid on everything, but at least I was comfortable.

I have attended many auctions and I have watched as some items sell to the online bidder. In most cases they did not get a bargain but they paid far more than it was worth. The pictures on the bidding site fail to show the breaks in the tires or the rust on the hydraulic cylinders of loaders. If you plan on doing online bidding I strongly recommend that you make a trip to the auction site and inspect the item closely.
Better yet just attend the auction!

These online auctions today I would not even read the sale bill. Only online auction was years ago when YT had their auction section going and I bought a bunch of small items off of it like older operators manuals for my colection. Anybody remember the YT auction section?

They are the coming thing, I don't really care for them.

Paul

yep
happens ALL the time if there is much of a crowd.

(quoted from post at 09:47:21 03/08/18) The pictures on the bidding site fail to show the breaks in the tires or the rust on the hydraulic cylinders of loaders. If you plan on doing online bidding I strongly recommend that you make a trip to the auction site and inspect the item closely.
Better yet just attend the auction!

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Auctioneers get the same diploma for taking pictures as realtors do.
They both know how to take pictures that can make any turd look like a gem.

not a fan as i don't trust them as they are not artificially raising the price. don't trust them during live auctions when i'm there as i have no idea who's bidding, if anyone is bidding.

a new "scam" here, mostly by the aaamish auctioneers is silent bidding via phone. supposedly you call a number and place a bid (not sure how/where you register). in summary, > basically the auctioneer takes the bids he wants from the people "friends" he wants to sell too and or fibs to get you to bid more (they call back if they want to you place another bid). I'm surprised they haven't cracked down on that. seems like some of that would violate state auction laws.

If an auctioneer takes a bid over the phone he has to anounce he is on the phone doing that and the bidder must stay on the phone the complete time and has to get bidders information before hanging up if the online person wins the bid.

(quoted from post at 19:51:40 03/08/18) If an auctioneer takes a bid over the phone he has to anounce he is on the phone doing that and the bidder must stay on the phone the complete time and has to get bidders information before hanging up if the online person wins the bid.

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How does the crowd know if there is anyone on the phone at all?
That would be a slick willie way to bump the bidding up.

(quoted from post at 19:51:40 03/08/18) If an auctioneer takes a bid over the phone he has to anounce he is on the phone doing that and the bidder must stay on the phone the complete time and has to get bidders information before hanging up if the online person wins the bid.

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How does the crowd know if there is anyone on the phone at all?
That would be a slick willie way to bump the bidding up.

(quoted from post at 17:33:48 03/08/18)

(quoted from post at 19:51:40 03/08/18) If an auctioneer takes a bid over the phone he has to anounce he is on the phone doing that and the bidder must stay on the phone the complete time and has to get bidders information before hanging up if the online person wins the bid.

Click to expand...

How does the crowd know if there is anyone on the phone at all?
That would be a slick willie way to bump the bidding up.

Click to expand...

What difference does it make? If you pay more than you think it's worth, that's your own fault.

I get the feeling that fewer people are bothered by the perceived "dishonesty" than by the fact that they're not getting that "super-awesome buy" that they can turn around and make a killer profit on by sticking it up on Craigslist.

Very true,I think a lot of people think auctions are held so they can buy stuff for next to nothing.As a reality check auctioneers hold auctions #1 To make themselves money
#2 To get as much money for the seller and the item as they can (refer back to reason #1) That's it no other reasons.As far as bidding it may not be what it seems.I go to a couple auctions where they have two auctions going on at one time a good ways apart,before the auctions I'll write down my maximum bid on what items I'm interested in and give them to the auctioneer at the auction
part I'm not going to be at.Now I don't want him to just bid my high bid off the bat he'll let someone else start the bidding and then pull my bid 'out of thin air' since I'm not there.
Only thing is its a real bid for me by the auctioneer and no one sees anyone give a number after the bidding is over because he already has my number.Been doing this for years.