Auctions

I am good at asking stupid questions, so here goes-------

Why do we have auctions where the auctioneer talks fast? Many times it is very difficult to follow them on the price. Kinda seems stupid to me.

There was a car auction on TV a while back where the auctioneer talked slow and diliberate. Folks were bidding and items were selling, many for over $100,000.

People who go to auctions like that know what they want and what they are going to spend.


Real estate auctions normaly go slow, give'n people time to talk on the c phone with there banker.

I was at a farm auction just today, they sold a good line of hay equipment, 3 tractors, a big dozer, 3 trucks, the normal old stuff and over 100 shop items. If the auctioneer had gone slow and given people time to think about what a broken down NI hay rake was worth it would have taken all day. It lasted from 10:15 to 12:30.

It is kinda an art, the auctioneer chant. Every one is differnt. People get kinda in a hypnotic state and don't watch what's going on. I watched a guy this winter run a 4 row 7000 from $500 to $1200 because the only guy bidding was holding his hand up and auctioneer was pointing to a tobacco barn like it was a bidder.



Dave

Every auctioneer has a different chant- so talk to the ring man if you question a bid, or don't understand the price being asked. They are MORE than helpful to tell you the price they are asking for. Don't bid if you do not understand the bid.

that is one reason i don't buy at farm or cattle auctions,it is just to confuse people.

second reason is the buyer is the biggest fool cause no one else thought the item sold was worth that much.

third reason is that a lot of sales seem rigged as many people are bidded up by an immagenairy second bidder.

Most of what he says is just that gibberish but every once in while he will give the price to let you know what it is. Follow him when he gets a bid the next thing he says is the next bid all the rest is just to keep you interested.
Walt

Actually there are some incredible bargains to be had at auctions and the main reason is that
you have to have the $$$$$ at the end of the sale not pay X$$$$ a month forever.

Sale barn auctioneers are the best, but learning to under them will all the rest no problem. Never bid against your self get in late.

Out here we have some good auctioneers that are pretty entertaining but can also tell when their yodelling has confused the crowd- they'll back way down, point to the guy with the current bid and what he's in at, and point out the folks that were in but now out. Nicholls does a good job out here and handles most of the farm stuff this ways- .
Seems like this business is passed down from generation to generation- kind of an art as well as a business.

My favorite auctioneer around here goes very fast on the small stuff. You had better pay attention or you will get left out. You won't get bored and leave. Bigger ticket items, they take more time. Realistate, they take a break about half way through for 3 min. and let you talk it over, call someone etc. Last community auction I was at, different auctioneer, I didn't understand the bid, wanted to know where I was in $. He told me and I said OK and said sold to a 10 yr old kid. I went to the kid and asked why. He said I bought it for the auctioneer. Will be the last time for that one.

If the auctioneer is not running a square game, most states would take that individual to task.

Aren't Auctioneers registered and bonded?

You can hold your hand up all day and if there is no one else bidding against you, you get it for your lowest, fair bid.

If you have a complaint with an auctioneer, get their number and report them to the state.

I did'nt say i was buying NEW did i,just said i don't buy at auctions. yes you could have a good buy,but if i'll have to go to a lot of auctions to wait for that to happen,i did just waste my time,on top of the other reasons i mentioned.

Well auctions are a lot like women you have to sort thru a lot to get a real good one but its well worth the effort when you do and the sorting can be very entertaining

I don't think any auctioneer is really fair???? Kinda the other side of the coin?

They are representing the seller. They are piad by the seller.

It is up to the buyer to watch their own backs, look over an item, and set a price for yourself that you can live with.

If it goes less than that you got a deal, if it goes for more than that you shoulda stopped bidding.

I get 90% of my stuff from auctions. I hate trying to dicker with a dealer, or even a private sale. Some are firm on price, some leave room to dicker. All gets kinda silly.

An auction is easy. Bid what you think it's worth, and everyone is happy.

The auctioneer represents the seller, and is trying to get top $$$ for any item. As a buyer, I'm a fool if I pay much attention to what the auctioneer is doing.

The good ones around here will still pull up bids and such. That's just normal????

--->Paul

I got my only[wife]local,did'nt have to bid a dime,was no hours on it,[was only 16 yr old]got to try her for a while.This was 40 yrs ago.
no regrets.

i do the same with machinery,check it out,try it out,then decide

I have a B.I.L. who was a csttle buyer and also did some auctioneering. I never could figure who to trust the least.

steveormary

I've gotten some good deals at auctions. Like others have said, know what you're buying, set a limit in your own mind, and if it goes past your limit say, "He11 with it", although I usually go one small bid above my limit in case someone else has set the same limit for themselves. It just depends on who else, if anyone, wants the item and how badly they want it.

I was on a consignment auction once in September. I was looking for a 6 row, 30" cultivator and they had a clean AC unit I could use that I figured would go for at least several hundred dollars. It was raining, and the auctioneers screwed around too long on small stuff and lost the crowd. When they sold the cultivator, I was standing there mostly to see what it brought 'cause I had all winter to buy one.

The auctioneer tried starting out at $300. Nobody bid. The auctioneer kept coming down and coming down. Still no one bid. The auctioneer finally yelled, "What will someone give for this cultivator?"

For the he11 of it, I said, "$20". Someone bid $25, I bid $30, and the auctioneer said, "Sold". I was standing there with my mouth hanging open.

That cultivator did me well for eight years. I sold it for $250 when I quit farming.

Why the babble is just stupid in my opinion. We addressed this some time ago. I think they feel they are impressing everyone with there speed. A good auctioneer will never use words, just numbers.

I know several auctioneers, and very close friends. Here is some of their deals---when a ringman yells yea, yea, yea, yea,---then yes--yes --yes. He was calling air bids till he said yes the first time. Pay attention if the ringman is real close to the auctioneer---some just tap the auctioneers foot when he actualy gets a bid.
A ringman getting bids with a open hand for a while, then he closes his fist means that closed fist is a real bid. If you go to a auction / truckload auction.....that has lot numbers--pay attention---lot 50 has to bring $100.00...if it does bring the $100.00--well ...if they can't get the $100.00---well then only one sells.<Some times you take 1/2 the lot number for the expected bid price.p> A auctioneer friend attended a auto sale where they bid backwards---If the car was worht 10 thousand they would cry for 20,000 and go down till the first person bid. I thought at the time it was stupid, but since then feel it may bring top dollar as the bidders would set their top limit and then hit it as it got there, because once someone else bids you are left out.

Our local auction house is top of the line, and if the auctioneer does not sell 100 items a hour he won't be back the next time. You can almost set your watch on the closing time of the auction unless their are alot of choice items. At this auction every item has a number, and sold in that order only. A cataloge cost only a dollar, and refundable if you buy any item at the sale.

In a close building and everyone facing the auctioneer, I feel a ringman is a hinder, rather than a help. Often the auctioneer and the ring men get out of sink thinking the other one is thinking the same as the other person. If a bidder wants something he should get the auctioneers attention. If the are overlooked a couple of times they would wave their card, and not just wink. I as a ring man always ignore the little finger, wink or twitch bids.....they soon learn the proper way to bid if you make them.

RFD cattle auctions to me makes me projectile puke when I hear them cry. They must place their face behind a kicking cow prior to the sale, and then fill their cheeks full of cow manure. I can't understand a word they say, fact my mother in law makes better sence than RFD cattle auctioneers. NO DON"T EVEN ASK!