Not always the same person/owner carting the stuff around for a $10 profit.
There used to be a big auction house across the road from my old shop.
They did a lot of bankruptcy and liquidation type sales, half of the sales were industrial and the other half were office equipment.
Most of the sales were held mid week so typically there was two completely different crowds of buyers that would show up depending on what kind of sale was being held.
There were always a few items in each sale that were of no interest to the crowd present but knowing the value was there if the right buyers were attending it was a no brainer.
I would have a quick look at what was in the sale the day before the auction and leave absentee bids on anything decent that was out of the scope of interest for the expected crowd.
More times than not my lowball bids were successful.
I would pay for what I bought and without ever having to move it I would consign it for the next sale that would have the right crowd of buyers present.
The auction owner did not at all mind collecting commission twice on the same item and I made a tidy profit at the same time.
I have known a few guys that work at auctions that do basically the same thing, they know how much most items will bring and if something is going real cheap they jump on it and consign elsewhere.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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