Buying at auction

[two_bit_score]

At most tractor auctions I've been to I've seen too many sellers bidding on their own stuff just to run up the price.

 

[brain55]

At most tractor auctions I've been to I've seen too many sellers bidding on their own stuff just to run up the price.

The auctions I have been involved in it stated right in the contract that we could not do this. I don't remember what the penalties were, but we never even considered doing it.

I prepared equipment for auctions that you wouldn't want to buy. My job was to try and get as much money for my employer as possible. A good pressure wash job and the fact that during a preview you really don't get to but a machine under load, can hide a lot of problems. I hid stuff that even as an equipment mechanic with over 20 years of experience I wouldn't have thought to look for until now.

Brian

 

[crazyal]

I bought my Case BH from an auction. It was one of those national companies who happen to have an auction at a small bus company that decided to close it's doors. They had a couple pieces of equipment they wanted to move. Two backhoes. The first that sold was an older 580E with an extend-a-hoe. Some of the glass was replaced with plexiglass and it started real hard. I figured it was going to go cheap as right next to it was a 580k in much better shape.

When the price went through the roof I almost left. When the 580k came up bidding was real slow and I got it for several grand less then the 580E. Like Brian said, they did a quick paint job on things to try and make it look better. They painted the exhaust pipe black and repainted the wheels. They even went as far as to put the paper floor protectors like you would see at a car dealer.

I just look pass all of that. Once you open the hood and look under the tractor you can usually tell if things are leaking or if repairs have been done. Checking for blow by. Trying it out to see how the torque converter and transmission works.

I did buy a Ford 700 with a snow plow from Iron Planet for $300. I didn't really want the truck, just the plow. I ended up driving the truck to a junk yard and taking the plow and the good tires home with me. I might have taken the whole truck but it had been converted to propane.

 

[wedge40]

I've noticed the bid wars too and have to laugh when things go for waaaayyyy more then they should, I quess some folks just don't get it.

These are the same people who speed up when you try and pass them on highway.

Wedge

 

[mcd176]

I purchased my L4200 from an online LIVE auction from McGrew Equipment in PA, The whole process was easy and I would buy from them again, I feel that I stole my Kubota from them for $8000 out the door, of course that was before I began to modify it

 

[PapaPerk]

At most tractor auctions I've been to I've seen too many sellers bidding on their own stuff just to run up the price.

That is a perfectly normal practice. At big consignment auctions the auction company cannot keep track of reserves. So the owner of the item being sold is responsible for his business transaction. If the price is too low, the owner has to bid until the price comes up or he remains the owner.

Of course if the owner wins, he is still charged a minimum fee for the auctioneer's effort in attempting to sell the equipment.

 

[Tenn_Blue]

I've bought several pieces of equipment off the government on-line auctions. Most of what I buy, I expect to have to do some renovation and repair, but most items are basically sound and well maintained.

Lots of good rules mentioned so far - always know what you are willing to spend, and don't get too enamoured with anything. Sometimes an item will go high, but a similar item may sell a couple weeks later for much less. Online auction prices are region dependant - some stuff is more common in some areas and prices will go lower. Good if you are willing/able to travel to pick up, but that increases your cost.