Machinery Auction

   / Machinery Auction #2  
Thanks for posting the site. Shame it's so far away! But then, they usually are from me. John
 
   / Machinery Auction #3  
Auctions can be funny things. I have seen tractors go cheep, say 1/2 of what I thought there value is. Go to another auction the next week everything is double stuff listed in the local paper. Know what the stuff is worth before you go.
 
   / Machinery Auction #4  
</font><font color="blue" class="small">( I have seen tractors go cheep, say 1/2 of what I thought there value is. )</font>
you're so right about that. But it doesn't end with machinery auctions either. I've seen this is many types such as storage unit auctions for failure to pay rent. I used to often buy whole sheds for $50, then the next week, they'll all go for hundreds.
Sometimes, I think I'm surrounded my crazy people when I start hearing them bidding up these units beyond $100 to often $600.
Same in many general merchandise auctions I've attended.
No way to know in advance what prices are going to be at an auction. That's part of the fun and disappointment of it all. John
 
   / Machinery Auction #5  
All it takes for an auction is two people that want the same item and an auctioneer between them. Whenever I have attended an auction to buy a specific item, I always come home dissappointed. /forums/images/graemlins/crazy.gif
 
   / Machinery Auction #6  
<font color="blue">All it takes for an auction is two people that want the same item and an auctioneer between them. Whenever I have attended an auction to buy a specific item, I always come home dissappointed. </font>

I recently attented a Consignment Machinery auction at Scottsville, Ky and all it took to sell a piece for a high price was the auctioneer + 1 inexperienced buyer + 1 Ground Man (suppose to take the bids and pass the on to the acutioneer). I had been buying several pieces that day and out of the blue, I just won another one. They called out my bidder#. Problem was, I did not bid and was eating my lunch and had no interest in bidding on that item. They knocked it off to the 1 and only guy that was actually bidding for $25 less than the had me at. The ground man told me later that he was sorry to have put me in that situation and that he was just using me to run up the bid on the "hot" bidder. He did make me feel good by telling that he would not do anything to me that he would not do for me and that he was sorry /forums/images/graemlins/frown.gif---Yea sorry he got caught /forums/images/graemlins/frown.gif----My best advice at a auction is to be aware of "exactly" who you are bidding aganist and If you cannot determine? Ask the auctioneer.--Ken Sweet
 
   / Machinery Auction #7  
Ken, I agree about watching who is bidding against you. When I was in the restaurant business, I used to attend a lot of equipment auctions. I did however avoid the consignment auctions because I knew the rest of the dealers and what they sent along was junk. Two years ago I attended a heavy equipment auction because they had a few utility tractors.
At the auction, I saw a local tow truck owner bidding on about 10 different identical used semi tractors. He won most of them at very low prices. I talked to him after the auction and asked him what he was planning to do with them. He smiled and said, "I'll take them to the next auction and hopefully sell a few more there." They were all his to start with and he was there to bid the price up!
 
   / Machinery Auction #8  
Yes that sounds very familiar. Around here, the big auctions have more equipment jockys in attendance than farmers or Equip. end users. It kinda goes like this among the jockys, I will run your items up and you run my items up (on the REAL potential buyers) and if either of us get caught with the item? No money or machines will change hands. I have been going to auctions for over 30 years and I still get TOOK sometimes. I feel sorry for the inexperienced. There was a local estate auction about 2 miles up the road 3 years ago and before the auction starts, the auctioneer sets the rules for the auction. One of his rules to the women, was "If you see something you like, just hold you hand up and WE will tell you when to take it down". He went on to tell them, that he guaranteed them to get everything they came to buy---Ken Sweet
 
   / Machinery Auction
  • Thread Starter
#9  
Ken,
You are so right about auctions. I have looked at the tractors I posted about. They come from a local construction company and it appears they have repainted them, but not done any major repairs. These could be a bargain, but they could be lemons too. So I would approach cautiously. I still enjoy going to auctions, but always like to know true value before I go.
 
   / Machinery Auction #10  
Best to approach anything "unknown" at an auction as if there IS something wrong with it. If you can buy it cheap enough, so be it. No "top dollar" payouts though... /forums/images/graemlins/smirk.gif /forums/images/graemlins/tongue.gif

Consignment sales are worse than estate sales, as far as "JUNK" showing up. As a general rule of thumb, people don't get rid of something unless it's worn out, broke, or just outlived it's usefullness. /forums/images/graemlins/crazy.gif /forums/images/graemlins/grin.gif

And it pays to get to know the auctioneers in your area. Some are more honest than others. Some are just down-right criminal. /forums/images/graemlins/shocked.gif /forums/images/graemlins/crazy.gif
 
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