bigbull338
Elite Member
i always do pretty good if an when i buy stuff at asuctions.but people do go hog wild an pig crazy at them.thus paying new or more than new prices for what their bidding on.
How to sell equipment
- Thread starter pitt_md
- Start date
- Views: 3000
Grayson Klassen
Gold Member
Just my opinion, but here goes. I have been at auctions where things actually sold for a decent price so if in your area equipment is going for decent prices you might do okay. It is usually about time, if you have the time to sell seperately I would do it that way or even as a lot, or heck get creative and add it all into the price of your property should you want to move to AZ. Auctions can go bad, private sales can take time, it's a hard choice.
Given enough time I would sell privately or as a lot with the property to sweeten the deal. For some people purchasing it can help them out to have the equipment added into the property value so they dont have to buy a bunch of equipment on top of their mortgage.
Given enough time I would sell privately or as a lot with the property to sweeten the deal. For some people purchasing it can help them out to have the equipment added into the property value so they dont have to buy a bunch of equipment on top of their mortgage.
blueriver
Elite Member
- Joined
- Oct 4, 2007
- Messages
- 4,821
- Location
- S.E.Oklahoma
- Tractor
- JD 5520 Montana 4340 Farmall Super A Montana 5720C
I believe the only reason an auction can go bad is if the items being sold are bad.
Equipment buyers are sharp and know the market and everyone wants a deal. There are very few that will stand buy and watch a 25K dollar piece of equipment bring 10k open competeitve bidding will bring the item to fair market value.
Grayson Klassen
Gold Member
I guess that all depends on the market. A friend of mine rebuilds old ATV's and Snowmobiles, he is good at it and people know he does a great job. Several times he has taken them to the auction thinking he could get top dollar only to have his hopes dashed.
I can only speak from experience going to auctions. If there were no advantage to the buyers at an auction they wouldn't exist. No buyers no sellers. The be all end all is no matter how items are sold you risk a lower price depending on....
Time
Quality of equipment
number of buyers
number of sellers
budlite
Silver Member
I have not gone to any equipment auctions but do go to quite a few estate and antique or collectable auctions. My experience is you won't get top dollar at an auction, but like someone else said, other buyers probably won't let something go TOO cheap. The advantage to an auction is time - the stuff gets sold and you're done. You might be able to set a "reserve" price where an item isn't sold if it doesn't bring a minimum bid that you set. The auction company won't allow you set minimums too high - if nothing sells, they don't make any comission.
jimgerken
Veteran Member
An auction is a great way to move a lot of stuff in a big hurry. Here is my experience with an auction in S.E. MN. The auctioneer charged 15% for household stuff, so we didn't put any of that on the auction. I can see his point, it takes a long time to auction a $50 dresser. Takes about the same time to auction a pickup, so he makes a lot more per hour. All the farm stuff and vehicles were about half the commision rate. The auctioneer said his team would help organize the items for the auction. In reality they were helpless and disorganized, and my family did most of the work. One of the best things we came up with was to get a bunch of pallets. the week before the auction we worked to clean things up and put everything on the pallets on the floor of the shed. Then on auction day we simply moved the pallets out with the skid loader and fork tines. Arranging the pallets along the driveway, everything was displayed nicely. If the auction co. had had anything to do with it, all the stuff would have set out in three days of rain before the auction. Another thing: List as much of the high value stuff as possible on the auction bill and website. The more that is listed, the more people will be there, and the more money stuff will bring due to competition.
Clean everything as much as possible, make it look shiney, show off the paint, get off the grease, pressure wash if needed. Make sure all the batteries are charged so stuff starts right up when it is time to demo it. Fix tires, pump tires, line stuff up in groups of like-function. Make sets of wrenches and sockets instead of trays of mixed tools. Trays of mixed stuff sells for a buck, or less. Make sure you have the most qualified person following the auction crowd to do the engine starting, or to answer questions. It definitely helps make it look like you are honest, organized, and have nothing to hide.
Clean up the yard and stuff, close up sheds and lock them if they are not part of the sale, remove anyhting shoddy beforehand. It all adds to the image of neat, clean, people selling good quality items.
All that said, it is necessary to have a minimum amount of stuff to make an auction feasible. There is that huge consignment auction on 52 just south of P.I. twice a year, if you don't have enough stuff for your own. It will cost more commision at that deal, I think 15% if memory serves. But it still could net more money than if you have very little stuff and don't get enough people.
Weather won't matter. Rainy days the whole family will come since there's nothing better to do. Saturdays are best of course. Springtime is best too, with people getting ready to do outside jobs, if you have tractor stuff.
Tell the auctioneer to arrange for a food wagon, and advertise it. For some people its the closest they get to a vacation.
Think ahead about parking. There could be 500 cars and trucks parking within a mile of your house. Where will they park?
Get the owners manuals all lined up in big ziplocks and carry them around, and make it real obvious as you hand them out to each buyer as each item sells. They will get the idea that you are erally on top of stuff. Include maintenance records, and talk loud when you tell them what they are getting. Understand the concept?
Make sure you have all the vehicle and trailer titles lined up. You need them in order that very day. Detail clean the vehicles you are selling. People look things over very closely if they are interested in them. They do not have much time to do it, but they do it as a "pack" and if someone finds something out of order, they all get the message.
Care to show and tell us what you all might have for sale?
Clean everything as much as possible, make it look shiney, show off the paint, get off the grease, pressure wash if needed. Make sure all the batteries are charged so stuff starts right up when it is time to demo it. Fix tires, pump tires, line stuff up in groups of like-function. Make sets of wrenches and sockets instead of trays of mixed tools. Trays of mixed stuff sells for a buck, or less. Make sure you have the most qualified person following the auction crowd to do the engine starting, or to answer questions. It definitely helps make it look like you are honest, organized, and have nothing to hide.
Clean up the yard and stuff, close up sheds and lock them if they are not part of the sale, remove anyhting shoddy beforehand. It all adds to the image of neat, clean, people selling good quality items.
All that said, it is necessary to have a minimum amount of stuff to make an auction feasible. There is that huge consignment auction on 52 just south of P.I. twice a year, if you don't have enough stuff for your own. It will cost more commision at that deal, I think 15% if memory serves. But it still could net more money than if you have very little stuff and don't get enough people.
Weather won't matter. Rainy days the whole family will come since there's nothing better to do. Saturdays are best of course. Springtime is best too, with people getting ready to do outside jobs, if you have tractor stuff.
Tell the auctioneer to arrange for a food wagon, and advertise it. For some people its the closest they get to a vacation.
Think ahead about parking. There could be 500 cars and trucks parking within a mile of your house. Where will they park?
Get the owners manuals all lined up in big ziplocks and carry them around, and make it real obvious as you hand them out to each buyer as each item sells. They will get the idea that you are erally on top of stuff. Include maintenance records, and talk loud when you tell them what they are getting. Understand the concept?
Make sure you have all the vehicle and trailer titles lined up. You need them in order that very day. Detail clean the vehicles you are selling. People look things over very closely if they are interested in them. They do not have much time to do it, but they do it as a "pack" and if someone finds something out of order, they all get the message.
Care to show and tell us what you all might have for sale?
OP
pitt_md
Veteran Member
I would like to say thanks to all who gave me your opinions. Not sure if I have enough stuff to make an auction worth while and I have all the time I need.
