Re: Why I hate farm auctions

Posted by Rex on December 07, 2003 at 08:52:10 from (63.105.231.140):

In Reply to: Why I hate farm auctions posted by Terry Johnson on December 06, 2003 at 12:35:24:

In regard to all the complaints on farm auctions. I am curious as to how you will establish the value of your equipment at liquidation time. Book value? Dealer appraisal? I doubt very much that you would accept the opinion of any one person as to the value of what you own when it's time to turn it into money. All the numbers and values found in books, dealers price lists, and anywhere else mean very little. Auctions are the only true indicator of equipment value and I bet you would find yourself feeling pretty good as you watched frozen toed buyers in a bidding war over your possesions. Something is worth what someone else is willing to pay for it, period. No exeptions to this rule, never has been. Auctions determine what this value will be.

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