None of the local auctioneers are charging a buyers premium around here. (North-East)
It is a gimmick used by auctioneers to get one up on the sellers and buyers. Most people may only have one sale in their life time. They usually are older too. So some slick auctioneer comes in and tells them he will only charge them half the going rate an let the buyers pay the rest. Many people fall for it hook line and sinker. I have had sellers rave about how much they "saved" by having an auctioneer that "charged" the buyer not the seller. The the auctioneers know some people get confused and "over bid" because they are not used to figuring out the premium while they bid.
I refuse to bid at a sale/auction with a buyers premium.
Over in IL there was an auctioneer that I bought a lot of 4 row equipment from. I could still get pretty good money around here for it. This was 15-20 years ago. At some of his sales I would be the only bid on some four row stuff. He started the buyer premium deal. I quit going to his sales. I also sent his advertising back to him when he sent it to me. He called me after a few sales and asked why I was doing that an where I had been as he had some 4 row stuff he could hardly get a bid on. Told him why. He started the song and dance about how it did not effect anything an all. I asked him if that was true why was he calling me??? It sure seemed to effect him some how. He switched back after a few years. I started going to his sales again.
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Today's Featured Article - Identifying Tractor Smells - by Curtis Von Fange. We are continuing our series on learning to talk the language of our tractor. Since we can’t actually talk to our tractors, though some of the older sect of farmers might disagree, we use our five physical senses to observe and construe what our iron age friends are trying to tell us. We have already talked about some of the colors the unit might leave as clues to its well-being. Now we are going to use our noses to diagnose particular smells. ELECTRICAL SMELLS
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