there's some diappointed fanetti buyers today
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Topic: there's some diappointed fanetti buyers today
Posted By: ac45dave
Subject: there's some diappointed fanetti buyers today
Date Posted: 23 Aug 2016 at 11:54pm
|
I have found out though the grape vine, marilyn fanetti had a court ordered right of first refusal on the items in the auction of which she did not own.in other words she did not own the tractors.from what i was told she used that right tuesday morning, on a handful of the tractors bought on the auction, which meant she got to buy which ever ones she wanted after the auction ended for what ever the ending bid was.I'm sure there are some very disappointed buyers out there when they were notified.imagine being the auctioneer and fielding those phone calls.
------------- 54 wd-45gas ; 56 wd-45d N/F w/fact p/s ; 63 d-17 sIII N/F gas ; 60 D14 N/F ; 67 d-17 sIV N/F gas ; 63D15 sII W/F; 39rc#667 ; 2021 massey 4710 fwa ; gravely 2 wheel tractors |
Replies:
Posted By: JohnCO
Date Posted: 24 Aug 2016 at 12:01am
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I wonder if the "last tractor" was one of them? ------------- "If at first you don't succeed, get a bigger hammer" Allis Express participant |
Posted By: ac45dave
Date Posted: 24 Aug 2016 at 12:06am
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that's hard to say.I'm curious as to which ones she wanted to keep and why.we may never know.can you imagine the disappointment of those bidders thinking they won the bid and having the carpet pulled out from under them the next day,wow.
------------- 54 wd-45gas ; 56 wd-45d N/F w/fact p/s ; 63 d-17 sIII N/F gas ; 60 D14 N/F ; 67 d-17 sIV N/F gas ; 63D15 sII W/F; 39rc#667 ; 2021 massey 4710 fwa ; gravely 2 wheel tractors |
Posted By: Gary Burnett
Date Posted: 24 Aug 2016 at 1:23am
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If the auctioneer had not stated that before the sale he'd be in legal trouble if he were in the state of Virginia,here once the gavel drops and the bidders number is recorded at an auction its as good as a written contract the buyer is bound to pay and the seller is bound to deliver what was sold. |
Posted By: shameless (ne)
Date Posted: 24 Aug 2016 at 2:34am
| really....that is just stupid, as she is prolly just doing so to get under the nephews skin! now if they come back up for auction, they prolly won't bring as much as the big bidders will not bid again! I sure wouldn't! |
Posted By: JayIN
Date Posted: 24 Aug 2016 at 3:46am
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The auctioneer would be in legal trouble if not disclosed up front here in Indiana. UNETHICAL CONDUCT. Could lose his liscence. ------------- sometimes I walk out to my shop and look around and think "Who's the idiot that owns this place?" |
Posted By: LeonR2013
Date Posted: 24 Aug 2016 at 5:09am
| Does Marilyn care? I don't think so. But when money is the all important thing you will see this kind of crookedness happen. Is it illegal? No, just immoral. |
Posted By: GreenOrange
Date Posted: 24 Aug 2016 at 5:26am
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Here it is... the importance of the fine print. From the auction's website - Terms & Conditions: All property is sold in an (AS-IS WHERE IS) condition, All items have a right of first refusal and ALL SALES ARE FINAL. |
Posted By: DarrylinWA
Date Posted: 24 Aug 2016 at 6:33am
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If this is true, this is going to get really ugly!!! So sad.
------------- B 10 Custom. Serial # 1001 D21, First D21 built 69 #4498 and Last D 21 Built #4609. 1946 MM UTU. And 2000, 2005 Pete's. AC custom Hauling. |
Posted By: jaybmiller
Date Posted: 24 Aug 2016 at 6:45am
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hmm... All items have a right of first refusal so WHO has that right ? the OWNERS of the items or the FIRST person to get a court order ? Wonder what it cost to get the legal beagle paperwork ? 50$, 100$ ? This 'auction' has a funny smell to it....but I don't know all the details only that I'd be madder than a hatter if I'd NOT got what I bid on. Curious, did the auctioneer after EVERY 'sale', look to the 'right of refusal' person and ask (YELL OUT so ALL can hear !)'do you want it' ? I'm betting THAT did NOT occour, cause by the time the 3rd item was sold a LOT of people would leave !! Jay ------------- 3 D-14s,A-C forklift, B-112 Kubota BX23S lil' TOOT( The Other Orange Tractor) Never burn your bridges, unless you can walk on water |
Posted By: Ken(MI)
Date Posted: 24 Aug 2016 at 6:48am
|
Not really uncommon, especially in bankruptcy and court-overseen auctions. I've been to quite a few where after all the bidding was done the auctioneer had a meeting with the secured creditors or other interested parties along with a court representative to decide if the bids would stand. It's always been upfront and you knew you were taking a chance on wasting your time before going, never seen one where the option was ever exercised though, and the deals were usually good because it seems to keep some buyers away. As mentioned above, always read the fine print. |
Posted By: AC7060IL
Date Posted: 24 Aug 2016 at 6:51am
If this court order is true, she pays for tractors of her choice (given tractor is within court order listing) & takes possession of them. The winning bidder pay nothing. But, I fear how these winning bidders will react to the Auctioneer?? If Auctioneer was hired by the estate, then auctioneer acted on presented knowledge from estate. Marilyn's estate was probably an unknown quantity to Auctioneer. |
ac45dave wrote:Posted By: DanD
Date Posted: 24 Aug 2016 at 6:52am
| This whole mess is like a never ending soap opera. |
Posted By: Jordan(OH)
Date Posted: 24 Aug 2016 at 6:53am
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"All items have a right of first refusal" and "ALL SALES ARE FINAL." Sound like two contradictory terms to me. |
Posted By: Play Farmer
Date Posted: 24 Aug 2016 at 6:58am
Thats what I was thinking. Seems to be 2 polar opposite statements.
|
Posted By: AC7060IL
Date Posted: 24 Aug 2016 at 7:06am
This fine print answers my previous post about Auctioneers knowledge. Amazing! I guess this Fanetti Auction was just like another consignment type auction where owner has a reserve? |
Posted By: Dmpaul89
Date Posted: 24 Aug 2016 at 7:17am
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Guess that's why it was online only! Over on ag talk someone posted a few pics of tractors leaving the property. Couple d21s and a 200 looked like. They were local sales because they were being drove home. Got to look for the words "selling absolute" when looking at auctions, IMO there should be no reserve ever at a auction. Or buyers premiums. Went to a estate auction once where the owner was bidding on his own stuff it was infuriating |
Posted By: shameless (ne)
Date Posted: 24 Aug 2016 at 7:22am
| you can correct me if i'm wrong here....but I believe the auctioneer has to ask the secured person if it can be sold before they say sold! I know when I've sold items on auctions, and I wanted at least so much for that item, the auctioneer would stop when no more bids came in and look at me for a yay or nay before he said sold! if I nodded yes to him, then he would say sold to such and such, if I nodded no, he would say to the crowd this item does not sell. I know this can be an iffy thing now when they have internet bidding, but I believe a rep has to be there for the auctioneer to converse with at time of bidding for each item! i'm pretty sure this is a universal system with all auctioneers in every state unless it's a non reservable auction, which has to be stated before the auction begins! |
Posted By: PaulB
Date Posted: 24 Aug 2016 at 7:25am
|
More proof that many auctioneers are crooks
------------- If it was fun to pull in LOW gear, I could have a John Deere. If you can't make it GO... make it SHINY |
Posted By: randy
Date Posted: 24 Aug 2016 at 7:25am
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She didnt own the tractors? Who did? ------------- CA WD WD45 D17 D17 Diesel 7060 8050 8070 |
Posted By: Daehler
Date Posted: 24 Aug 2016 at 7:40am
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This has been somewhat of an exciting auction to see, but something hasn't seemed right since it was first posted being for sale. The whole selling process has been weird for a collection like this. What a joke. ------------- 8070FWA,7080 BlackBelly, 7045,2 200s,D19,D17,G, WD,45,UC,7 AC mowers and lots more! "IT TAKES 3 JD's TO OUT DO AN ALLIS, 2 TO MATCH IT IN THE FIELD AND 1 FOR PARTS!" |
Posted By: DanD
Date Posted: 24 Aug 2016 at 7:44am
| http://talk.newagtalk.com/forums/thread-view.asp?tid=652803&mid=5485813#M5485813" rel="nofollow - Ag talk link with pics |
Posted By: Fred in Pa
Date Posted: 24 Aug 2016 at 7:58am
|
Cracker Jack Auction , surprise for everyone . ------------- He who dies with the most toys is, nonetheless ,still dead. If all else fails ,Read all that is PRINTED. |
Posted By: Don(MO)
Date Posted: 24 Aug 2016 at 8:04am
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All I'm going to say is; There's more to the story than we might know now! Good luck to the buyers and I hope it all works out OK for them, the buyers are in the middle of this and didn't know. ------------- 3 WD45's with power steering,G,D15 fork lift,D19, W-Speed Patrol, "A" Gleaner with a 330 corn head,"66" combine,roto-baler, and lots of Snap Coupler implements to make them work for their keep. |
Posted By: HD6GTOM
Date Posted: 24 Aug 2016 at 8:25am
| I've been to the Chariton Machinery auction many times over the years. (Large consignment auction.) Many times they would announce the item was being sold with bank approval. If it did not bring so much money they would call the banker and find out if the bank would let it go. A good friend of mine who has auctioneered for many years told me "Once I drop the gavel that piece of equipment is sold--the seller must holler no sale before I drop the gavel and say sold". If there is a reserve on equipment and it was not announced at the beginning of the sale there could and should be legal trouble for the seller and auctioneer. |
Posted By: farmtoybuilder
Date Posted: 24 Aug 2016 at 8:29am
|
Agree with Don! Damn Shame! I didn't catch the fine print either! Goes to show that if we want to leave property and our collections and such to others, We need to have it all worked out and done legally before we pass on! ------------- 5 different TT-10's,5 TT-18's Terra Tigers,B-10,2 B-207's,B-110,2 B-112's,HB-112,B-210,B-212,HB212,2 Scamp's & Homilite T-10. Still hunting NICE HB-112 & anything Terra Tiger & Trailers for them. |
Posted By: steelwheelAcjim
Date Posted: 24 Aug 2016 at 8:42am
|
Any item "offered" at auction is considered having a reserve price unless otherwise stated! Please remember that. If it is absolute, then it should be stated. My questions would be in regards to who signed the contract? Is Mr. Fanetti of sound mind? Is this an Estate? Who was the proper representative? Was proper UCC filings done to determine creditors(if any)?
I can go on and on. The buyer can still pursue this. If you bid on a item, and was told that you won by declaration in some form i.e. "sold" "winning bidder", "you won", then you entered into a purchase contract, and can claim breach of contract by the seller. Whew!!! What a cluster.... ------------- Pre-WW2 A-C tractors on steel wheels...because I'm too cheap to buy tires! |
Posted By: ac45dave
Date Posted: 24 Aug 2016 at 8:52am
------------- 54 wd-45gas ; 56 wd-45d N/F w/fact p/s ; 63 d-17 sIII N/F gas ; 60 D14 N/F ; 67 d-17 sIV N/F gas ; 63D15 sII W/F; 39rc#667 ; 2021 massey 4710 fwa ; gravely 2 wheel tractors |
Posted By: Don(MO)
Date Posted: 24 Aug 2016 at 8:53am
|
One more time we don't know all the details of this mess, it will get worst before it gets better. This is going to a bad deal for all before it's done!!!
------------- 3 WD45's with power steering,G,D15 fork lift,D19, W-Speed Patrol, "A" Gleaner with a 330 corn head,"66" combine,roto-baler, and lots of Snap Coupler implements to make them work for their keep. |
Posted By: Scott B
Date Posted: 24 Aug 2016 at 9:18am
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Starting to look like a "sham" auction to solely determine the true market value of the goods....which is necessary to settle the estate. ------------- D17 Series 1 Allis B- 1939 Allis B- 1945 |
Posted By: DanWi
Date Posted: 24 Aug 2016 at 10:18am
| I agree with Scott appraisal auction to settle estate. We had one here in our neighborhood last year, But at least it was more legit, the remaining partner went on line and bid like all the other bidders. Many items stayed on the farm, no different then going to a live auction and bidding against a relative or neighbor. But this does suck if you think you had the winning bid and then get notified that it was a no sale. Then it should have been advertised with a reserve or like land sales with owners approval |
Posted By: Fred in Pa
Date Posted: 24 Aug 2016 at 10:52am
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The TRUTH will NEVER be known .To many fingers being pointed back and forth . ------------- He who dies with the most toys is, nonetheless ,still dead. If all else fails ,Read all that is PRINTED. |
Posted By: one54dodgetruck
Date Posted: 24 Aug 2016 at 10:53am
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Does anyone know if it happened? ------------- 2 WDs B B112 D14 D15 185 7040 pd |
Posted By: hillmonkey
Date Posted: 24 Aug 2016 at 11:36am
| The second pic in DanDs link to Ag talk pic shows the FWD 220 being driven home. Hmmm |
Posted By: aras
Date Posted: 24 Aug 2016 at 11:58am
The first pick up time was not until Wednesday?? |
Posted By: CTuckerNWIL
Date Posted: 24 Aug 2016 at 12:35pm
But she wasn't the owner so how could she set a reserve or not approve the bid? ------------- http://www.ae-ta.com" rel="nofollow - http://www.ae-ta.com Lena 1935 WC12xxx, Willie 1951 CA6xx Dad bought new, 1954WD45 PS, 1960 D17 NF |
Posted By: Tcmtech
Date Posted: 24 Aug 2016 at 12:44pm
|
You never know what some people are thinking when it comes to this sort of stuff. Years ago when my parents got divorced Mom got greedy and forced Dad into running all his horses through public auction to determine their fair market value Vs just taking a cash offering from Dad directly which meant Dad had to sit at the auction all day and bid to get his own animals back. Surprisingly other than the work of getting them there and back Dad came out rather well! He bought back the animals he wanted to keep plus dumped the duds for next to nothing and in the end the fair market value was about half what he had offered Mom as a cash settlement plus she ended up swallowing half the costs involved behind the auction as well out of it putting her take way under half Dad's original offering! Then to add idiocy onto stupidity driven by sheer spite and anger she took him to court and sued him for half of the loans they had at the time of the divorce figuring she would at least cash in on those if nothing else. Sure enough the judge, shook his head in bewilderment when done with the court session, sided with her that she most certainly had the legal rights to take half the loans (worth $10's of thousands in Negative asset value) on herself (But why?) which ultimately knocked her back even further!  All said and done I think she came out with about 1/5 to 1/4 of what she could have gotten had she kept her mouth shut and taken what was offered to her up front.
 |
Posted By: steelwheelAcjim
Date Posted: 24 Aug 2016 at 12:55pm
|
I've been an Auctioneer for over 25 years now. I strive to be honest and transparent as much as I can. I am old fashioned though. That is why I still prefer to conduct live, in-person auctions instead of internet style. No malarkey! No buyers punishment fees! You will see the other bidders against you on an item. Sales will still have reserves, sellers confirmations, or items pulled before the sale, but you at least can witness it happening in person.
------------- Pre-WW2 A-C tractors on steel wheels...because I'm too cheap to buy tires! |
Posted By: steelwheelAcjim
Date Posted: 24 Aug 2016 at 1:01pm
|
Can someone explain either here or in another thread what the story is??
Was this an Estate? Divorce? Family squabble? If Ms. Fanetti didn't own them, what court ordered her any right of refusal?
------------- Pre-WW2 A-C tractors on steel wheels...because I'm too cheap to buy tires! |
Posted By: CTuckerNWIL
Date Posted: 24 Aug 2016 at 1:09pm
Just a jumbled up mess it seems to me. https://www.wicourts.gov/ca/opinion/DisplayDocument.pdf?content=pdf&seqNo=110527" rel="nofollow - https://www.wicourts.gov/ca/opinion/DisplayDocument.pdf?content=pdf&seqNo=110527 ------------- http://www.ae-ta.com" rel="nofollow - http://www.ae-ta.com Lena 1935 WC12xxx, Willie 1951 CA6xx Dad bought new, 1954WD45 PS, 1960 D17 NF |
Posted By: aras
Date Posted: 24 Aug 2016 at 1:11pm
| It was in a revocable trust -- that's about all I can share with certainty. My gut feeling is the nephews are little -------- And could care less about Allis Chalmers! |
Posted By: Krazy Karl
Date Posted: 24 Aug 2016 at 2:32pm
| On the flip side how many tractors did the nephews buy back that. We don't know about It's a shame people can't get along and think. How would don have liked it done |
Posted By: steve(ill)
Date Posted: 24 Aug 2016 at 2:52pm
|
So the old man and woman owned $24 million worth of "stuff" and decided to give it to the two nephews when they died... The old man dies and the two kids decide to screw the old lady and get more sooner... right ? Originally they had NOTHING. ------------- Like them all, but love the "B"s. |
Posted By: mdm1
Date Posted: 24 Aug 2016 at 4:13pm
|
I doubt any of us will ever know what really happened or how Don wanted it to happen. Maybe she wanted the tractors because oF Don. Who knows who the bad guy is. Some days it's not bad not having much! ------------- Everything is impossible until someone does it! WD45-trip loader 1947 c w/woods belly mower, 1939 B, #3 sickle mower 1944 B, 2 1948 G's. Misc other equipment that my wife calls JUNK! |
Posted By: Larry W.
Date Posted: 24 Aug 2016 at 4:25pm
| This whole think stinks of bullsh@t going on!! Surely with all the Allis guys on this site, we should know where these tractors are going if they actually sold? If the 220 fwa, and d21, etc are being "driven home" I say bull, they're going into hiding! |
Posted By: Carl(NWWI)
Date Posted: 24 Aug 2016 at 5:22pm
|
I kind of agree, some one on here should have chimmed in by now and said they bought something, especially off this auction. Originally the collection was suppose to be open for a museum, but things started disappearing so she put that idea into the trash can. |
Posted By: DougS
Date Posted: 24 Aug 2016 at 5:31pm
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If they published the reserve or set a minimum bid the auction wouldn't be setting market value of the tractors that nobody bid on. If that was the intent of this auction. |
Posted By: ILGLEANER
Date Posted: 24 Aug 2016 at 5:34pm
|
If you have been there. Me and Austin was about a month ago. She lives just down the road, from where the tractors were being stored at the farm, in a mansion on a hill top. (And l ain't talking about the Gospel song). I read all the court papers. My opinion, is there are greedy nephews, wanting there inheritance, before there supposed to get it. Why would you sell them if ya got them gave to you ? Come on !!!!! ------------- Education doesn't make you smart, it makes you educated. |
Posted By: Larry W.
Date Posted: 24 Aug 2016 at 5:36pm
| You are right carl! I know if I could have afforded that 6070 or 220, you can darn well bet I would have posted about it by now!! |
Posted By: Larry W.
Date Posted: 24 Aug 2016 at 5:39pm
| John, I think you're right. But the auction was actually a sham, not a real auction, don't you think? |
Posted By: JayIN
Date Posted: 24 Aug 2016 at 7:16pm
|
Seems like some locals would know the real story. I am surprised someone from this site isn't from Dunn Co. and knows the REAL score. ------------- sometimes I walk out to my shop and look around and think "Who's the idiot that owns this place?" |
Posted By: angusguernsey
Date Posted: 24 Aug 2016 at 7:33pm
|
I live about 8 miles or so from the farm, and knew Don just enough to be called an acquaintance and knew the farm manager a bit better. Don had a "bigger than life" type of personality and was a genuine character. I met his wife once or twice, but not enough to know her by any means. I don't think anyone knows all the details, even among the family. In this particular case a lot of family dynamics have been laid bare for the world to see. I know that it makes for juicy gossip and lots of "what ifs", but in essence it's a family matter and who among us would like our dirty family laundry aired in public like this? ------------- D-17 series 1, AGCO mower. Grew up on a long line of A-C, but can't claim as my own. |
Posted By: lentsch
Date Posted: 24 Aug 2016 at 7:39pm
| I bought the 8010 but will not be able to go after it until Sat. Hopefully all goes OK. Hager did email an invoice- I will call them tomorrow. |
Posted By: ac45dave
Date Posted: 24 Aug 2016 at 8:09pm
------------- 54 wd-45gas ; 56 wd-45d N/F w/fact p/s ; 63 d-17 sIII N/F gas ; 60 D14 N/F ; 67 d-17 sIV N/F gas ; 63D15 sII W/F; 39rc#667 ; 2021 massey 4710 fwa ; gravely 2 wheel tractors |
Posted By: cottonpatch
Date Posted: 24 Aug 2016 at 8:10pm
|
The winners in these estate squabbles are the attorneys. They are more than happy to keep it in the courts. Greed is a sin. Pretty sad reading that court opinion. It's a shame. ------------- '52 CA, '61 D10 II, ‘61 D15, '66 D15II, '63 D17D III, ‘69 170, '73 185 Crop Hustler, '79 185, '79 7000, '77 7040 |
Posted By: EPALLIS
Date Posted: 24 Aug 2016 at 9:58pm
| Good grief. What a convoluted court case. And all the A-C tractors caught in the middle. What a tragedy..... |
Posted By: Nathan (SD)
Date Posted: 25 Aug 2016 at 1:37am
|
I predicted this finale back on june 3. http://allischalmers.com/forum/forum_posts.asp?TID=123995&KW=&PID=1016274&title=last-allis-tractor#1016274 |
Posted By: JC-WI
Date Posted: 25 Aug 2016 at 2:21am
|
http://allischalmers.com/forum/forum_posts.asp?TID=123995&KW=&PID=1016274&title=last-allis-tractor#1016274%20" rel="nofollow - http://allischalmers.com/forum/forum_posts.asp?TID=123995&KW=&PID=1016274&title=last-allis-tractor#1016274 "I suspect only a few of Don's tractor will actually see new owners. I can't prove it, but just a feeling I have. Fake auction is the only way to put a value on them." Just think of the cost it was to put a value on them... wow... ------------- He who says there is no evil has already deceived himself The truth is the truth, sugar coated or not. Trawler II says, "Remember that." |
Posted By: JayIN
Date Posted: 25 Aug 2016 at 3:18am
|
Yes, JC(WI) You hit the nail on the head! ------------- sometimes I walk out to my shop and look around and think "Who's the idiot that owns this place?" |
Posted By: DiyDave
Date Posted: 25 Aug 2016 at 5:32am
| Old saying, where there's a will, there's a lawyer... |
Posted By: DrAllis
Date Posted: 25 Aug 2016 at 8:06am
| In my State, an Estates value is appraised by someone who is an expert on values, like farmland, houses, etc. State Law requires the Estate to be appraised to establish the worth of everything at the time (or close to) the death of the owner. Who in their right mind would want to have had to appraise this line of equipment ?? Maybe this was the best way to arrive at a true value. From here forward, if the heirs sell any piece for more than it was appraised at, they will pay tax on the difference. If they sell for less, there is no tax on the sale. |
Posted By: iowaman
Date Posted: 25 Aug 2016 at 8:09am
| Im sure glad I was out bid on my item. I will never again participate in an online auction. What a f ing joke! |
Posted By: Don(MO)
Date Posted: 25 Aug 2016 at 8:53am
|
Yes this was a big a$$ bad auction to all of us but this can and has happened on on farm auctions before too. Over thirty five years ago I went to a auto shop auction to buy some tools and at noon they sold the shop building I made one bid just one time on the building and won, it was over three hours before the owner let it go at my bid price to me, if we had been on the farm where the tractors where for-sale at auction and at the end of the auction they said no-sale on this tractor or this one and on and on then we are still not going haul tractors home are we? I'm not mad about it being an on-line auction, just the way it was handled. If you have ever helped or had an on farm auction and had to clean up the mess and saw all the damage to the grounds/buildings it costs time and money to fix it back up. If I ever have auction again it will not be held at my place! One more thing to think about, if you'd have the nice tractors and farm buildings and held on farm auction do you think people with treat your farm and tractors good? Now again I think this was one of the biggest f ing to good people in a long time! ------------- 3 WD45's with power steering,G,D15 fork lift,D19, W-Speed Patrol, "A" Gleaner with a 330 corn head,"66" combine,roto-baler, and lots of Snap Coupler implements to make them work for their keep. |
Posted By: Peterson
Date Posted: 25 Aug 2016 at 9:37am
|
Yes it was a dirty thing to pull, but I'm kinda happy that hopefully she keep most of the collection together. ------------- 7095-685I at 255hp, 8070-225HP,8050-210Hp,8030 with 155HP,220 with 670T engine with A-pump, 7580, 185 with 140HP, 2-6080's,6070, S4 D17,wd45,CA,st34 agco, S1 D17 with 3500MK2 |
Posted By: Butch(OH)
Date Posted: 25 Aug 2016 at 9:49am
|
I am with Don, Low moral character is the blame, not online auctions. |
Posted By: Jonny B 1938
Date Posted: 25 Aug 2016 at 11:15am
| All the auctions I have been to the terms are stated on the contract when registering, full disclosure or the contract is null and void. I would be hiring an attorney to settle the dispute. If an item does not sell or has not met the reserve the auctioneer still gets his 10-20 percent so she got stuck with a huge loss in the end anyhow. Nasty practice indeed, I got another B swiped that way with a no reserve auction and the seller refused to release the tractor after I paid the auctioneer. Needless to say he is now banned in the circuit as the auctioneer is highly respected and handles large auctions into millions of dollars. I went to 1200 for a runner and the guy wrapped a chain around the tractor as I was paying cash for the item, I was not the only guy who wanted to choke the guy but I do not drink alcohol, many there did and were ready to get ignorant over it. |
Posted By: TOM H
Date Posted: 25 Aug 2016 at 12:19pm
|
I was one of the losers. Thought I had the D10 bought ($15,400) and paid a premium but I guess I was bidding in vane. Would of have liked to know before so I could have bid on D12. But maybe that one was bought back too. What a bunch of BS. ------------- Allis-Chalmers 1927 E,1928 U,1944 WC,H3,D10,D12,D14,D15,D17,D21,TT-10 Terra Tiger, 1964 AC Golf Cart, Allis Chalmers Fridges,100's of AC Literature and Ops.and Parts manuals |
Posted By: acben20
Date Posted: 25 Aug 2016 at 12:45pm
| Tom I have a nice d12 same as that one I will sell you for less than that |
Posted By: Justin(IN)
Date Posted: 25 Aug 2016 at 1:46pm
|
It wasn't just the tractors... I ended up being the high bidder on a couple items (pallets of grain bin parts). I was only invoiced for one of the two (the cheaper of the two). I called and they decided not to let the other one sell. The auctioneer was very nice to talk with. I told him I wasn't going to come up (9 hours) and get the one pallet and he understood. I only bid on these items because I was bidding on a tractor as well... I didn't win the tractor. Justin |
Posted By: ac45dave
Date Posted: 25 Aug 2016 at 1:59pm
|
And the plot thickens.Justin,when you say you didn't win the tractor ,was it not the winning bid or was it one of the tractors affected by the right of first refusal? ------------- 54 wd-45gas ; 56 wd-45d N/F w/fact p/s ; 63 d-17 sIII N/F gas ; 60 D14 N/F ; 67 d-17 sIV N/F gas ; 63D15 sII W/F; 39rc#667 ; 2021 massey 4710 fwa ; gravely 2 wheel tractors |
Posted By: Tcmtech
Date Posted: 25 Aug 2016 at 2:12pm
You're a better person than me. IfI paid cash and some guy was chaining my item to something else I would have just taken it that I get the chain plus what's on the other end of it too and if anyone tried to stop me after I had paid and had my receipt in hand there would have been a public beatdown in progress while I loaded all three!. I've been cheated and screwed over enough times in my life now to be willing to take the chance on the outcome of a public fight.
|
Posted By: Justin(IN)
Date Posted: 25 Aug 2016 at 2:29pm
| ac45dave - I was outbid. |
Posted By: TOM H
Date Posted: 25 Aug 2016 at 2:56pm
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I bought a D12 from the golf course in Perham a couple years ago and really wanted a finished D10 or wouldn't have bid that much. I have never heard of this crap before but haven't bought much on auctions. Tried to call Marilyn but she wont answer. ------------- Allis-Chalmers 1927 E,1928 U,1944 WC,H3,D10,D12,D14,D15,D17,D21,TT-10 Terra Tiger, 1964 AC Golf Cart, Allis Chalmers Fridges,100's of AC Literature and Ops.and Parts manuals |
Posted By: Jordan(OH)
Date Posted: 25 Aug 2016 at 3:43pm
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Someone is going to have a lot of explaining to do if a buyer wants to push the issue. http://www.hagerauction.com/sale.php?ID=450" rel="nofollow - http://www.hagerauction.com/sale.php?ID=450 Straight from the website: ABSOLUTE AUCTION - ONLINE ONLY NO MINUMUM - NO RESERVE |
Posted By: 19856020
Date Posted: 25 Aug 2016 at 3:51pm
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I wonder what machinery pete thinks about this ------------- 716 917 918 1920 d17 6080 |
Posted By: jaybmiller
Date Posted: 25 Aug 2016 at 4:04pm
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Ok, I got an 'silly' question.... On all the equipment she 'bought' with her 'first right of refusal' did she ACTUALLY buy the stuff ? did she in fact pay REAL money AND both fed and state taxes ? If she did NOT actually buy the stuff a reasonable lawyer can sucessfully argue that the equipment has NO value, as it was NOT sold. IE. That D12 for $15k and she pulls the 'first right' paper out.....unless she actually paid the 15K and taxes, it was NOT sold, so not 'worth' 15K. Also if the stuff wasn't really sold( she kept it), if I was a Fed or State Tax guy, I'd be all over her looking for the money !!The TAX money she has to pay. If she didn't something like 'fraud' has occoured on both state and federal levels and man I would NOT want to pi$$ off the IRS (or whatever 3 letter dept it is)!! Hope I'm explaining this right. Also was this 'first right of refusal' said EVERY time BEFORE the gavel went down ? If not, again a good lawyer should arguee that bidder #xxx WON the item. Up here ,estates have to be appraised within 60 days by the executor so that our dike provincial leader gets 20% of the value of the estate. Jay ------------- 3 D-14s,A-C forklift, B-112 Kubota BX23S lil' TOOT( The Other Orange Tractor) Never burn your bridges, unless you can walk on water |
Posted By: Joe Graunke
Date Posted: 25 Aug 2016 at 4:55pm
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She bought 20 tractors. She payed what the ending auction price plus the 5% buyers fee. She paid 46,000 for the 6070 plus 5% She paid 60,750 for the 220 FWA 5% She wanted to keep the whole collection together and keep them in shed but the nephews wouldn't allow it they wanted money. Sad deal ------------- |
Posted By: Fred in Pa
Date Posted: 25 Aug 2016 at 5:08pm
So the ? is ,what was the problem between MR and Mrs. if he had this set up to give away ?????. ------------- He who dies with the most toys is, nonetheless ,still dead. If all else fails ,Read all that is PRINTED. |
Posted By: kev/ont
Date Posted: 25 Aug 2016 at 5:23pm
| I really doubt the with all the money these folks have spent in court that sales tax on afew hundred thousand is there biggest problem. |
Posted By: kev/ont
Date Posted: 25 Aug 2016 at 5:44pm
| Exactly fred. Obviously his wishes were unknown or at very least unclear at the time of his death. |
Posted By: Ken(MI)
Date Posted: 25 Aug 2016 at 6:03pm
| Maybe he was one of the many who knew there was going to be a problem because of the personalities involved and decided to avoid the problem himself and just die and let the troublemakers hash it out after he was gone. At the end of the day it was his efforts, money, talent, etc. which allowed him to accumulate a 24 million dollar estate for others to fight over, and once dead, none of it was his problem. I think a lot of people would be better off if they could realize that excess wealth creates more problems than it solves, and there is nothing material worth fighting over, as an example, one good fire and this collection would have been reduced to scrap value within a matter of hours. |
Posted By: mdm1
Date Posted: 25 Aug 2016 at 7:04pm
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I believe you have responsibilities even after you die. It's not right to say not my problem when I'm gone. ------------- Everything is impossible until someone does it! WD45-trip loader 1947 c w/woods belly mower, 1939 B, #3 sickle mower 1944 B, 2 1948 G's. Misc other equipment that my wife calls JUNK! |
Posted By: Fred in Pa
Date Posted: 25 Aug 2016 at 7:42pm
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Sounds like they where taught well. ------------- He who dies with the most toys is, nonetheless ,still dead. If all else fails ,Read all that is PRINTED. |
Posted By: Gary Burnett
Date Posted: 25 Aug 2016 at 7:56pm
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For everyone that thinks its better to be poor and have nothing,I'll be glad to send you my address so you can get the check in the mail(LOL)Getting poor is real easy to do. Hey maybe he wanted them to fight over it,got what he wanted.I have a couple in my family I wouldn't mind seeing tearing into each other. |
Posted By: steelwheelAcjim
Date Posted: 25 Aug 2016 at 8:18pm
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Still Confused. At those prices, what the heck was she thinking? I'd have just let them go to good homes. She's not going to live forever.
Now, those tractors are marked with the Scarlet Letter.
------------- Pre-WW2 A-C tractors on steel wheels...because I'm too cheap to buy tires! |
Posted By: steelwheelAcjim
Date Posted: 25 Aug 2016 at 8:23pm
There it is!!! In plain English!! "No Reserve" trumps "First Right of Refusal". Also, a statement was printed "buy with complete confidence" Lawyers don't need to chase ambulances, just get in contact with let down buyers. ------------- Pre-WW2 A-C tractors on steel wheels...because I'm too cheap to buy tires! |
Posted By: Gary Burnett
Date Posted: 25 Aug 2016 at 8:25pm
I'd say she has increased the value of those tractors now that they are from the famous(infamous?) sale. |
Posted By: victoryallis
Date Posted: 25 Aug 2016 at 8:31pm
Wrong !! The greedy witch is screwing the nephews out of what Don willed them. ------------- 8030 and 8050MFWD, 7580, 3 6080's, 160, 7060, 175, heirloom D17, Deere 8760 |
Posted By: toolcat
Date Posted: 25 Aug 2016 at 8:52pm
| I have been on here a couple years and don't chime in much because I feel I have more to learn then I have to say. With that being said I feel I have something to say about this. I do not know the Fanetti family but for the last few months I have been waiting for this auction not knowing any of the back story other then Mr Fanetti had passed what I thought was about 5 years ago and I was thinking that this auction of their beautiful collection was more of a way of getting things in order for Mrs Fanetti. With that being said I had the winning bids on 4 pieces of the Fanetti auction. I did not read the fine print, I was completely unaware that their was fine print that suggested I may not get the machine I have hoped for for so long. We even cheered as we were gathered around the computer when I won. The next day I asked my significant other to call first thing and make the arrangements necessary to secure the purchases I had made. They told her I would get an email with my invoice and payment instructions. I received my invoice tuesday afternoon but it only had 1 item on it, again I did not read the rest of it and thought that i was being invoiced individually again. I guess I am to busy to even pay attention to the writing on the wall. So wednesday morning a friend calls me and tells me there was a problem and I better follow up on this. So I checked here first and found this post when it had just gotten started. Next I waited for another hour for Hager auction to get in the office and I talked with them and the lady that answered told me she was very sorry but their hands were tied by the court order and she would do what ever they could but.... Rather then take my anger out on her I was thinking there has to be some kind of legal action even for someone like me who is to busy to pay attention. I knew this was a hot topic on the forum so I kept checking back and I seen the post that CTucker posted about the rest of the story. Now I have been close to a similar scenario. The way I read the legal description is the 2 boys had a combined net worth of 90 to 100k when their joint venture started and had they not gotten greedy and done their part to build the partnership they would have never had to worry about where things were going. I am sure they felt they were doing all the work and not being rewarded for their efforts fast enough. I know some of what I have said is speculation and just opinion. I do not know them and I am still unclear how the tractors ended up in their possession but I do know that Don and Marilyn were the original owners of the tractors and with a net worth of 24,000,000 i find it hard to believe it was lack of finances. I feel sorry for Mrs Fanetti and i am sure Don if he was able to would take those boys over his knee. They obviously tried to pass on their lifetime of late nights and hard work. To me it looks like the boys reached down the throat of the gift horse and ripped the heart out. Now don't get me wrong I am very disappointed to not get the things that I thought I purchased but at least I didn't have to purchase my own stuff back. Now I am sure she owed money somehow but why she didn't have to pay whatever the set amount was when it granted them ownership and it had to involve joe public is beyond me. Now this is just my opinion and I could be off on some of my speculation but I will bet that I am not to far off. Sorry for being so long winded. |
Posted By: DanD
Date Posted: 25 Aug 2016 at 9:09pm
| I am curious. What did you get and not get? Just curious what was kept and what was let go. |
Posted By: cottonpatch
Date Posted: 25 Aug 2016 at 9:19pm
Wrong !! The greedy witch is screwing the nephews out of what Don willed them. [/QUOTE Everyone has an opinion, your opinion is in the minority. ------------- '52 CA, '61 D10 II, ‘61 D15, '66 D15II, '63 D17D III, ‘69 170, '73 185 Crop Hustler, '79 185, '79 7000, '77 7040 |
Posted By: Jonny B 1938
Date Posted: 25 Aug 2016 at 9:46pm
| I went through a nasty divorce and she divided the family with lies and ignorance. I gave up everything for my kids and in the end she turned my kids against me too. I know how money and health problems can divide a family first hand. In the end the victims are the younger generation as they are the ones that have to deal with the fall out. |
Posted By: macvette
Date Posted: 25 Aug 2016 at 9:57pm
| I don't think we have heard "the rest of the story" yet. This may go on for some time yet. |
Posted By: AC7060IL
Date Posted: 25 Aug 2016 at 10:08pm
DrAllis, you make excellent points. In short, unless you were a lucky winning bidder that gets to take home your won item(s), ALL other BIDDERS at the Fanetti auction clearly donated every bit of their effort (free of charge) to those interested parties - Auctioneer, Seller, Seller's Attorney, Seller's Appraiser, & the list goes on. Do we all feel educated now? Man, I do. Maybe this farm machinery auction should be introduced to MACHINERY PETE, farm auction writter, so he could do numerous farm publication columns about it. Maybe he could entitle it "The FANETTI AUCTION FINAGLE!" |
Posted By: PeteMN
Date Posted: 26 Aug 2016 at 12:34am
| This was an online only auction that opened for about 14 days and items closed at set intervals starting on Monday at 6PM so if it did happen bidders didn't have the opportunity to just walk out. Perhaps she took the advice of some of the posters that said the equipment was worth more if it had been sold by a bigger name auctioneer that dealt with collectible tractors. Perhaps a more honest way to handle that type of auction situation would be to say that some items have a reserve if that is in fact what really happened. |
Posted By: JayIN
Date Posted: 26 Aug 2016 at 3:35am
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CROOKED. WRONG. UNETHICAL.GIVES AUCTIONEER A BAD REPUTATION. You can't say absolute auction , no reserve on one line and right of first refusal on down later in the sale bill. A child knows that those two statements are opposites. Auctioneer should be in deep sh#t.- I suspect that the reason it was an on line sale only is because they KNEW they were going to pull these shenanigans in advance. They didn't want to face an angry mob. Can't exactly take a swing at someone over the internet! ------------- sometimes I walk out to my shop and look around and think "Who's the idiot that owns this place?" |
Posted By: jaybmiller
Date Posted: 26 Aug 2016 at 6:30am
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NO WHERE in that webpage about the 'auction' does it say ANYTHING about 'first right refusal'..... NOR is there ANY 'disclaimer' even in itty.bitty ,micro tiny letters...that I can see. Wonder if a 'class action' law suit against them should be started, or the AG of the state nailing them for 'unethical' practises or misleading the public ? Also, up here ,since the interent is used, it's a FEDERAL case.... and if an out ot state bidder lost, well you guy's have 'cross state' laws as well... man I can see a LOT of flack coming from this, for a start will ANYONE use/buy from that auction house EVER ??? Jay ------------- 3 D-14s,A-C forklift, B-112 Kubota BX23S lil' TOOT( The Other Orange Tractor) Never burn your bridges, unless you can walk on water |
Posted By: Tbone95
Date Posted: 26 Aug 2016 at 6:37am
Maybe not, but some sure try! 
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Posted By: Fred in Pa
Date Posted: 26 Aug 2016 at 6:46am
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After all this it makes you think how did The Fanetti Family get their MONEY ??????? Why didn't she just bid on the ones she wanted and just pay up IF SHE is WORTH so MUCH MONEY !!!!!! ------------- He who dies with the most toys is, nonetheless ,still dead. If all else fails ,Read all that is PRINTED. |
Posted By: Ken(MI)
Date Posted: 26 Aug 2016 at 7:11am
| As I understand it, Don Fanetti made his money in the heavy haul trucking business, moving oversize/overweight loads others couldn't or wouldn't move, not much competition in that area, and I'm sure he earned every penny it this is true. As I mentioned above, his labors resulted in a battle by those looking to receive something for nothing. I wouldn't be too quick to beat up the auctioneer, he may be a court appointed pawn in this scheme and had no choice but to comply, American justice at it's finest. This is disappointing for sure, but if you ever find yourself on the wrong side of a Bankruptcy, this is a walk in the park. |