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Tractor Talk Discussion Forum

YT on-line auction (a question) !!

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Alberta Mike

08-22-2004 14:03:07




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Doing a little bit of browsing here this morning on the YT site and went into the on-line auction from the menu. Noticed that there was only ONE tractor for auction (a John Deere). Seldom go in there but don't I remember that there used to be quite a few tractors in that section? If so, I wonder what has happened?




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Hugh MacKay

08-22-2004 19:39:21




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 Re: YT on-line auction (a question) !! in reply to Alberta Mike, 08-22-2004 14:03:07  
Mike: I watch the auction quite regularly and these can fluctuate quite quickly. Manuals for example were down to about 15 less than one week ago, now they are at 110.

I think one thing that curbs the tractor section, is the lack of photos. My opinion, the auction should have no reserve bids. If a seller has a firm price he wants, go classified. I was bidding on a tractor along with about 5 others a while back, once the reserve was met everyone backed off, and tractor went for $27. over the reserve.

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Alberta Mike

08-22-2004 19:58:56




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 Re: YT on-line auction (a question) !! in reply to Hugh MacKay, 08-22-2004 19:39:21  
I didn't realize that you are notified when the bidding hits the reserve. That seems strange to me. Not being an auction person I'm not really up on how they work. At regular auctions, are the bidders informed once they hit or pass the reserve (if there is one)?



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Hugh MacKay

08-23-2004 02:13:34




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 Re: YT on-line auction (a question) !! in reply to Alberta Mike, 08-22-2004 19:58:56  
Mike: It is certainly the first auction that I have ever been informed upon reaching the reserve bid. Most of my auction experience over the years has been livestock auctions. As I said, personally I don't agree with reserve bids. If the item is under the hammer, then that's how it should be, otherwise lets call it a classified and sell it that way.



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Alberta Mike

08-23-2004 04:01:15




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 Re: YT on-line auction (a question) !! in reply to Hugh MacKay, 08-23-2004 02:13:34  
Never thought of it that way but you're 100% correct. It's almost like they want it both ways, they want to gamble but they don't want to lose. Interesting subject. Mind you, I guess none of us have to pay more than we want so that would be an argument from the other side.



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Hugh MacKay

08-24-2004 13:28:47




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 Re: YT on-line auction (a question) !! in reply to Alberta Mike, 08-23-2004 04:01:15  
Mike: An auctioneer I am quite well aquainted with would never allow reserve bids. His attitude was if seller wants to control his minamum price, get in there and bid with the rest of them. His thinking was, co-bidders will soon catch on and dump it on him.

In some respects these new auctions are somewhat like our Canadian social safety net. Public tresury is taking all the risk, as well as reaping all the benefits.

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rustyfarmall

08-22-2004 15:36:15




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 Re: YT on-line auction (a question) !! in reply to Alberta Mike, 08-22-2004 14:03:07  
I think it has to do with the time of year. Not too long ago there were absolutely no tractors, and very few parts. I think it will start picking up again as we move into fall.



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