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Used Equipment Auctions

C

Christos

Member
Hey everyone,

I have a question about how used equipment auctions work. I went to Tri-Greens in London, OH today and asked about some pieces I saw (price wise)

How do these things work? Its it like ebay or is it a bit different? I"ve never been to one of these things before and I asked for prices on two plows (CIH 420 2x16 and Ford 10-134? 3x14) and a IH #10 grain drill. I was quoted that the consigners wanted 425 for the Ford, 1000 for the CIH and 800 for the drill.

All the prices seemed pretty steep (especially for the drill) when they say "they want" X amount of dollars at auction do they GET the X amount?

I ask because I had planned on getting a plow there and I know it"d be cheaper wholesale then deal with the used guy close to home that marks up the equipment up and paints over the rust.

Christos
 
Greens set there own prices.If an owner wants 500 for something they might ask you 750.The owner would then get his 500 less there commission.In the actual auction the buyer protects (Bids on) his own items to jack the price.They have a tractor sheet with prices listed when they sell tractors.
 
At the consignment auction in Stark and Columbiana counties the seller can set a reserve on an item if the item does not reach the reserve it does not sell but the seller is still responsible for the commission on the item if surpasses the reserve then the seller owes the commission at the percentage set for the selling price. Not every item has a reserve set on them, those items sell for the highest bid. I have sold a few item at consignment auction some just to get ride of with no reserve and other that I felt had a value but did not want the hassle of having buyer haggle on price those had a reasonible reserve set and they sold about the serve set.
 
We have a local trader who uses the consignment auctions a lot. If I'm interested in a piece of his equipment, I ask him what he has to have for it. He'll tell me a figure, and during the bidding he will bid it up no higher than that stated figure and back out. If he is the high bidder, he takes it back home with him, and I suppose he pays a commission to the auctioneer based on the end bid. I like dealing with this guy - he has a good rep for honesty. If I'm looking for something - say a baler - I tell him and he finds one for me. He calls me and I'll go to his place to look it over. If it suits me, I take it home. If not, he takes it to a consignment sale. No strings attached. I've bought several pieces from him over the years. Works good for me, I don't like auctions.

Paul
 
I'd heard things around there weren't on the up and up anymore. Sounds like they're worse than Yoder and Frey in Archbold anymore.
 
I was shocked at the price of the IH grain drill to be honest. It makes me wonder if my FB drill is worth more than the 200 bucks I was going to sell it for.

I"ve dealt with one of the guys that works there, he was a good guy to do business with. Aside from that I can"t comment.

I just couldn"t get over how much "they" wanted...them or the original owners. Granted the plow looked like it was less than 20 years old it would be cheaper for me to byy the Frontier 2btm plow from JD Equipment across the street new than to buy that thing used. Even the Ford was 100 more than what I would expect to pay for a plow of that vintage.

So aside from checking craigslist, where should I go to get used equipment at in Central Ohio?

Christos
 
They have a couple of "absolute" rows at the Yoder and Frey sale in Archbold. That means no reserve. Whatever the top bid is at the sale that day,that bidder owns it. That sale is every second Tuesday of the month. You just never know what's going to be IN the absolute rows. Everything is in before the sale and out after. It doesn't get carried over.
 
That to me is not an auction, you may as well go to your 2nd hand dealer and buy it. The ones I go to are highest price wins unless there is a reserve and that is rare, depending on the day, some things are a steal., but some idiots also pay higher than new prices, adrenalin rush I suppose or no idea.
 
I just checked where those guys are. I"m in Pataskala (3 1/2 hours from where those guys are at) are there other people in Central Ohio? I usually do get up a bit towards Canton occasionally and there is stuff in the Farm and Dairy I just never have the time to get up there.
 
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