Re: Clearing Farm Auction Sales

Posted by dhermesc on December 02, 2004 at 08:00:55 from (68.110.220.22):

In Reply to: Clearing Farm Auction Sales posted by Michael Soldan on December 02, 2004 at 07:11:08:

A retirement auction isn't that bad - especially if the man has more then one heir - makes it much easier to settle which of three or five or eight sons gets grandpa's Cub or the quarter that all five spent their youth clearing. I've seen auctions where the crowd appreciates a the care the man gave his equipment and tools and it is reflected in the prices abeing bid by freinds and strangers alike.

Much worse situation is not a retirement auction but a foreclosure auction. My father who had grown up in the depression, got his @$$ shot off in Korea and spent 30 years as a more or less successful farmer had thought he'd seen it all. But he wasn't ready for 22% interest and land values that fell by 50% in two years time. Combined with two massive doughts and a grain embargo and he left wondering where he had failed. In 1980 he was formulating a plan for 7 sons who all wanted to farm. Tractors where averaging 1500 to 1800 hours a year and his boys skipped highschool (and some times junior high) classes on a regular basis to be in the field.

In 1985 at the tender age of 53 he stood by as the auctioneer sold every peice of equipment he owned. He was reduced to bidding against strangers who had traveled from other states to bid on the excellent (if not worn) line of equipment he had accumulated. He was died in the spring of 1986 before he reached his 54th birthday.

For that reason I will never attend a foreclosure auction again.

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