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Auctions are Nuts or am I Just Cheap

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fergienewbee

05-10-2008 18:32:24

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I went to an auction today and couldn't believe the prices. A used King Cutter brush hog went for almost as much as a new one. A small, rusted, 3ph disk brought $350 and an old dog kennel went for $255. The chain-link was very light. Used T-posts sold 10 for $35.00. I bought 11 for $6 dollars at another auction. Do consignment auctions often bring more or is it just everyone gets caught up in the bidding?

Larry in Michigan

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730 virgil

05-11-2008 20:37:36

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

i like going to auctions sometimes i come home with a good buy something all i get is a hamburger.

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B-maniac

05-11-2008 19:14:24

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

Larry , the simple rule to profit is this , you buy private and SELL at auction. Any other way is a fruitless waste of time.

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Goose

05-11-2008 08:11:21

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

It all boils down to how many people want a particular item and what they're willing to pay for it. A particular item might go for $50 on one auction and $500 on another. The whole thing is a crap shoot. The thing is to set a price in your own mind and stick to it. If it goes over that price, walk away from it. There's always another day.

On the flip side, on a large, annual consignment auction this spring, there was stack of about a dozen new-in-primer pickup tailgates. None, however, were identified. You had to know your tailgates. The auctioneer announced you were bidding for your choice. I got the first high bid at $3.00. I pickup out two '88-'98 Chevys and one '81-'87 Chevy, figuring I was paying $3.00 each. When I went to pay up, I found the gal who was clerking wrote up all three for $3.00. I had no immediate need for them, but at that price they're good property.

I once saw two brothers bidding against each other. The auctioneer stopped the bidding and asked if they realized it. One said, "I thought that was what auctions were for. Get on with it".

I always go to an auction with the idea of wasting a few enjoyable hours BSing with old friends. If I happen to pick up a few bargains, so much the better.

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Who??

05-11-2008 07:53:37

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

Read about the auction. Who made thoese people pay the prices they did? Also were the prices the items good for the sellers? I always thought one could stop bidding at any time during an auction. Just don't understand.

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sammy the RED

05-11-2008 07:02:07

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Re: Auctions are Nuts or am I Just Cheap in reply to dave2, 05-10-2008 18:32:24

jose bagge said: (quoted from post at 17:10:37 05/11/08) I come home empty handed 3 out of 4 auctions I go to- I just won't pay new prices for old junk. BUT- I get to meet folks I haven't seen in a while there, and also shoot the breeze with old timers I have never met. Even if it's a poor sale, it's a good social event!

They have one in my area that evryone goes to. I bet about 1/3 of the people go just to visit and say hello to people they have not seen since last year. If you get a bargin on something, the better the day was. :D

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sammy the RED

05-11-2008 06:57:49

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Re: Auctions are Nuts or am I Just Cheap in reply to Circus, 05-10-2008 18:32:24

Walt davies said: (quoted from post at 12:15:33 05/11/08) I look around and if I certain Idiots out there I just run the bid up to have fun Knowing they will pay almost anything for nothing its fun. There are some real Idiots out there buying at auctions.

Walt

Done that a few times myself ! 8)

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C. Eenum

05-11-2008 06:38:43

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

These auction companies are professionals!

Between shill bidders, and seller, or buyer premiums, or whatever new methods, they are there to make money.

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X22

05-11-2008 04:51:33

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

Auction tip..Go to the auction site a couple of days after the sale is advertised , note the equipment on hand at that time. A lot of the time this equipment belongs to the auction company and they are going to get their price when they the stuff sells. This is a problem for people that go to these auctions that are held at the same location over and over.

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jose bagge

05-11-2008 04:10:37

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

I come home empty handed 3 out of 4 auctions I go to- I just won't pay new prices for old junk. BUT- I get to meet folks I haven't seen in a while there, and also shoot the breeze with old timers I have never met. Even if it's a poor sale, it's a good social event!

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kyplowboy

05-11-2008 03:42:54

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

Another thing about auctions, if you go with some one, stay with them. My brother and I go to them together alot. It is a good way for us to spend time and we make a little here and there. We stay side by side unless the sale has two rings going. If there is more than one ring. We will split up. He will write down what he wants in my row and dollar amount beside it, I do the same with his row. If there is one ring and one of us goes to the boy's room or goes for a coke, who ever left don't bid till he gets back to the other one. I bought a set of saddle tanks one time for $7.50, he had opened the bid at $5 on the other side of the ring man and I did not see him. He got a tobacco wagon one time for $50, I opened at $25.

Better luck next time.

Dave

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Tradititonal Farmer

05-11-2008 03:30:52

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

I average about an auction a week.Sometimes things go crazy high but on the other hand I have bought some real steals at auction.Those cheap buys is what keeps me going.Certain areas some things sell,go 150 miles up the road and they almost give the same type item away.The key to buying a bargain is to pay attention if a bargain is sold and you're BSing with the neighbor then you wasted your time coming.

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Walt davies

05-10-2008 23:15:33

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

I look around and if I certain Idiots out there I just run the bid up to have fun Knowing they will pay almost anything for nothing its fun. There are some real Idiots out there buying at auctions.
Walt

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kyplowboy

05-10-2008 21:22:16

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

Auctions are still an art as some one said. Auction prices are alot of the time dependent on the weather. Small auction companies offten don't advertise well and have a low turnout. Have not spent but $50 at auction this winter, got a little trailor made from an old toyota truck. Went to a sale a few years ago, spent $200 and hauled stuff the 4 miles home for 3 days. Made my money back off the 3000 tobacco sticks I bought that the auctioneer and nephew of the old man who owned them figured was 500. Still use'n the gates and fence post from there, as well as the 300 gallon fuel tank, and A frame with a winch.

A few weeks after this sale I watched a BOR restored H bring $2100, it's just a crap shoot. If stuff is going stupid eat a hot dog, talk to some people, and watch the side of the road for a deal on the way home.

Never go to an auction with any plans other than burning a day pulling a trailor around and talking to some nice folks, if you get a good deal on something you need or can turn around, you have had a good day, if not you won't be so mad.

Also, my 7' bush hog that I use I picked up for $100, I was the opening bid. Every one thought it was locked up. I figured I could use the pto shaft and the rest of it would scrap for that. Turns out it was just setting on some rough concreat and would not turn by hand with the blade in a bind.

Better luck next time.

Dave

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Old Puller

05-10-2008 20:24:05

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

Auctions are a gamble at best, some days you get the bear and some days the bear gets you. I've watched $50.00 items go for $300.00 and $1500.00 items go for $700.00.

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Wesley Stephens

05-10-2008 20:20:21

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

I've gotten some good deals at auctions and I've seen people pay ridiculous prices also. It just depends on who's there and what they want. The old saying "A fool and his money will soon part" is as true as it ever was.

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otto stook

05-10-2008 20:13:36

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

Enough of this,lets move on.

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dave guest

05-10-2008 19:45:19

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

Larry in Mich. Unless it's a Mich thing, I never bought anything at auction in my life. Went to 5 or 6. Everything was overpriced. Nothing was guaranteed to run or work or even be all there. I am cheap, that is my middle name.

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dave guest

05-10-2008 19:44:11

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

Larry in Mich. Unless it's a Mich thing, I never bought anything at auction in my life. Went to 5 or 6. Everything was overpriced. Nothing was guaranteed to run or work or even be all there.

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Nolan

05-10-2008 19:39:06

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

Was trying to explain how auctions work to my young son the other day.

Told him that if you win an auction it means you spent more on something than everyone who saw it thought it was worth. No one, absolutely no one, thinks it's worth what you just spent.

Have it admit, that gave me pause.

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cadet trooper

05-10-2008 19:35:15

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

Everybody is right on and I think too many novices go to auctions. Back in the older days going to auctions was an art.

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bellyacre

05-10-2008 19:34:06

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

In our area there is a cartel of jockeys that work together, rarely do you find useable equipment sell cheap, as one of the cartel will have a home for it, which in turn helps support the value of equipment they have on hand. Not so good for the bargain hunters but a great help for the seller. I have bought equipment from the jockeys after the sale, allowing them a little profit, cheaper than bidding against them until its too high

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coloken

05-10-2008 19:11:58

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

"A used King Cutter brush hog went for almost as much as a new one. A small, rusted, 3ph disk brought $350 and" Thats the stuff that goes high here. Sales are all ways on Sat. so the city worker can come. Small tract owner I blame it on. All most every week some one advertises a 8N for like 3500...A new breed of "country dwellers".

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old

05-10-2008 19:05:09

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

You can go to 10 different auctions and all have say a brush hog all the same brand and out of 10 of them 7 may sell high or 7 low. You never know how things will go. It took me about 2 years of going to find a manure spreader I believe was priced right and when I did buy one I got it so cheap that I figured I payed for a clevis that was in it and got the rest free. If was full of sheet metal 9 sheets of it and some cable and that clevis and I payed $5 for it. Ya it needed a little work but not much

Hobby farm

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Formerly PaMike

05-10-2008 18:50:17

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

I went to a going out of business sale at a local lawn and garden place. My local dealer wants $275 for a new stihl chainsaw. They were selling the exact same saw at this auction as is no warrenty and they were getting $280 to $300. Some people just dont do their homework...

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Howard H.

05-10-2008 18:48:01

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

Auctions are just crazy... I've seen guys bidding on something that really wasn't what they thought it was...

One time I saw two guys bidding full money on a MM irrigation engine that I guess neither noticed a 4 inch hole blown straight through the bottom of the pan...

I lost out on an older pickup one time - I really went quite a bit higher than I intended, so I was glad I lost out after I thought about it a while... Saw the guy a few months later and he was good naturedly cussing me big time about it - said it burned more oil than it did gasoline just to get it home!!

I bid on a couple of new rear tractor tires that had been in the barn forever a while back - they brought $900 for the pair. An hour later at the same sale, I bought a nice running Case 930 diesel tractor with the same size rear tires - ALSO new - for $700...

Who knows at auctions??!??

Howard

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otto stook

05-10-2008 18:46:45

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Re: Auctions are Nuts or am I Just Cheap in reply to fergienewbee, 05-10-2008 18:32:24

People go to auctions hoping to get something cheap. When rusted junk sells for an almost new price it means the bidders have pissed one another off. The one thats wins the bid is the idiot and the loser goes home laughing. Nuff said.

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Eric SEI

05-11-2008 12:57:13

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Re: Auctions are Nuts or am I Just Cheap in reply to otto stook, 05-10-2008 18:46:45

What's really good is an estate auction. I remember one locally that the heirs were using the auction to decide who got what. Some items were selling on pure emotion. Other items sold for reasonable prices. But if you saw 2 of the kids bidding on a piece of furniture or such, get out of the way! There was no point in even bidding, it was going to a family member at some price higher than a normal person would pay.

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