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AUCTION RITUALS |
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200Tom1
Orange Level Joined: 03 Jun 2019 Location: Iowa Points: 1114 |
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Yep I don't care how bad I need something, if there is a buyers premium, I'll go buy a new one before I pay a buyers premium. I won't attend a sale with one.
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exSW
Orange Level Joined: 21 Jul 2017 Location: Pennsylvania Points: 914 |
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Usually it's someone that can't afford the piece anyway but not always. I went to a collectors liquidation a few years back. Guy had two basket case TD-6's and a bunch of new parts. Since I had a TD-6 at the time I figured $2500.00 would keep me in spare parts until the dirt nap. There was a guy and his wife in beach chairs sitting near them watching the auction. Come time for the dozers I stuck my hand up and left it up. So did the guy camped out. We blew through $2500.0 as fast as Russ Kiko could rap and I surrendered. Turns out all this guy did was buy,fix and sell small dozers. He said he was willing to go to $5000.00 just to keep me out or make me pay full retail.
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victoryallis
Orange Level Joined: 15 Apr 2010 Location: Ludington mi Points: 2851 |
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Good one less person to bid against. My math skills are good enough to know if I budget $10,000 for a item and they have a 10% premium I can pay $9,000 and be ok. |
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8030 and 8050MFWD, 7580, 3 6080's, 160, 7060, 175, heirloom D17, Deere 8760
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cabinhollow
Orange Level Joined: 24 Mar 2018 Location: SEKY Points: 327 |
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When to a livestock sale yesterday.
A guy I know decided he wanted 2 feeder pigs. Should of sold for $15-$20 each. A couple of the penhookers seen how bad he wanted them and ran him up to $55.50 each. |
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OldSchoolRecovery
Silver Level Joined: 06 Nov 2015 Location: Eagle River, WI Points: 301 |
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I get better deals at consignment auctions. Around here, there is both a buyers and a sellers fee. % is based on amount. Anywhere from 3% to 12%. As an example, if an item sells for 1000 bucks, the seller gets 845 ($25 dollar lot fee) and the buyer pays 1100+tax. Auction house makes 225 bucks.
As my cousin says "cost of doing business". Anyway, if you can't figure it out (the buyers premium), then you probably should not be bidding. And, you should have a good idea of what you going to bid to also. And, from my many years of auctions, there is no real strategy to bidding. Just go to the number you had figured and walk away. I hate the guys who string it out. Not sure what they are trying to do. I still have my number and will stop when it gets there, and bid it up as quickly as I can. No sense in dragging it out. My favorite time was when I was looking at and bidding on a "dead" truck. In the ad, and posted on the truck, "truck does not start". For three hours, before bidding and while actual bidding was taking place at least a hundred guys got in it and tried to start it. Can't believe the battery lasted that long. I didn't get it. Ran it up to 2,800, stopped and the next guy got it for 2,900. Took all of about three minutes.. 2,800 was my number. One caveat would be when the bid is jumping by 100's and my number is $650, I will let them know that, by saying 650, etc. My last tractor was $650.00. LOL.. And, that is all that everyone does is pull the dipstick on every piece of equipment. I laugh. It's not like anyone would change the oil before bringing it to the auction if it had a head gasket leak. I like dark used looking oil. Fresh oil, you never know.. Just sayin, Carl |
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1942 Farmall H
1940 Allis B 1944 Allis B 1945 2N 1947 8N 1948 8N 1951 8N 1949 JD M 1951 JD A 1951 JD AW 1951 WD 1952 Allis D Grader 1957 D14 1958 D17 1961 Case 440L 1963 IH Lo Cub< |
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John (MO)
Orange Level Joined: 16 Sep 2009 Location: NEMO Points: 202 |
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Best auctions are those others don't go to. Too hot, too cold, don't like the auctioneer, buyers premium, it don't matter why. $100 is $100, whether it's $10 for the bid and $90 for a premium or $100 bid and no premium. If you can't do grade school math, go to an overpriced sporting event instead.
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JohnCO
Orange Level Joined: 11 Sep 2009 Location: Niwot Colo Points: 8992 |
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When I bought my bucket truck a few years ago, it was written on the windshield,"doesn't run, leaks fluid". I bought it for $3,000, I'd talked to one of the lot guys who told me it had been driven off the trailer. Discovered the batteries were weak and the leak was a water pump gasket, which cost $7. I'd originally planed to just make a trailer out of it and tow it with my Freightliner or a tractor, but it turned out to be too nice a truck. Still driving it. One of my best auction buys. I've never had the nerve to try it but I know some people just bid the price they are willing to pay, at the beginning and quit bidding, some times it works, usually it doesn't. Watched a guy buy a couple good 38" tires on IHC rims for $400, auctioneer was trying to get $100 at the time, nobody bid him up. Probably worth nearly twice that.
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"If at first you don't succeed, get a bigger hammer"
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