Posted by MFPoor on November 25, 2012 at 06:58:34 from (72.4.0.230):
In Reply to: Auctions posted by John B. on November 25, 2012 at 06:02:21:
Worst characteristic a person can have if they buy at auctions is a severe competitive nature. I've watched people bid double what something is worth just so someone else doesn't win. At that point, the "winner" becomes the other loser.
Local auctioneer also sells tractors and implements on his lot. He'll price stuff at 5 or 6 times what it's actually worth. People see the prices while browsing. Then they come back for the quarterly consignment auction, and the stuff brings double what it's worth and they think they just got a bargain.
Know what stuff is worth to you.
Know all the buyers premiums, taxes, and hidden fees. They add up fast.
If someone else is willing to pay too much for something you want, let 'em have it. Same thing will eventually show up at a reasonable price.
Don't get caught up in the "I've been here all day and I'm not going home empty handed" frenzy. I'd rather waste a day and go home with nothing than I would get bent over a barrel.
Just think about it this way. Almost all of us spend the next few days after an auction talking about some danged fool that paid 10 times what something is worth. Don't give anyone the pleasure of making YOU the one they laugh at.
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