Luremaker
Veteran Member
The newest methods around here are "buyers premiums" of 10% to 15%. I refuse to go to any auction where a "buyers premium" is charged.
An Auctioneer is Worth Every Penny
- Thread starter Iplayfarmer
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The newest methods around here are "buyers premiums" of 10% to 15%. I refuse to go to any auction where a "buyers premium" is charged.
jonyyuma
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I like to go to a good fair honest auction. You never can tell what you might bring back home...I hate when someone works the back and bids againest you just to cheeze the prices..
Depmandog
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Luremaker said:
That I can understand. For a farm or estate auction I wouldn't go either.
For government sales, specialty sales and other hi-ticket items - the buyers premium is the trend. Most buyers are sharp enough to keep the premium charge in perspective when bidding - so as to not over pay for an item.
Every now and then a new auction service pops up in our area on farm / estate auctions. It very easy for them to line up the auctions (hey seller - the only thing you pay for is advertising). Then charge a buyers premium to make their money; after a few auctions they disappear (or the buyers premium disappears)! It doesn't seem to work well in our market.
Dean
jmurray01
Veteran Member
Wow that sounds bad...
I'm a patient guy normally, but I can't stand waiting around in a public place for ages.
What would have been wrong with doing it in a real auction style ?
Some people are beyond belief.
I'm a patient guy normally, but I can't stand waiting around in a public place for ages.
What would have been wrong with doing it in a real auction style ?
Some people are beyond belief.
OP
Iplayfarmer
Super Member
I'd have been fine if the guy had chosen one way or the other. As I see it he held a silent auction and sold us all of his stuff. Then, he proceeded to take our stuff that we had bought and sell it again.
blueriver
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About 15 years or so ago I went to an auction selling restaurant equipment ... I owed a bar and grill and was interested. The Auctioneer made the annoucement that they would sell it piece by piece and then add that up and then offer all the equipment to the first bidder who outbid the total.
I says I gotta stay and see how this comes out ... half the folks left and the remaining half would hardly bid ... the total when added up was a ridiculous low amount.... the auctioneer stated in order to buy all the equipment the bid must increase by $100 increments ... THE BEST SALE I EVER ATTENDED !!! I bought it all picked the couple pieces I could use and held another auction at a storage facility a few weeks later.
I says I gotta stay and see how this comes out ... half the folks left and the remaining half would hardly bid ... the total when added up was a ridiculous low amount.... the auctioneer stated in order to buy all the equipment the bid must increase by $100 increments ... THE BEST SALE I EVER ATTENDED !!! I bought it all picked the couple pieces I could use and held another auction at a storage facility a few weeks later.
OP
Iplayfarmer
Super Member
I bet it was. I'd have been one of the people who left in the first few minutes if I had known that was how it was going to go.
That seems like an incredibly rediculous waste of time. If you're going to sell it all together, why bother auctioning everything off piecemeal to begin with. The only chance of getting anything is to buy it all. If you're going to buy it all you're not going to jack your price up by bidding on anything until the whole lot goes up for bid.
I'm glad I started this thread because I used to think I like auctions. Now I know that I only like a few auctioneers. I'll be wary of any new ones.
blueriver
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The last Real Estate Auction I conducted we broke up the land into parcels ... 220 acres total... offered it in three 40 acre tracts and then a 100acre tract ... the 100 had the house and the barn.
It all sold to one buyer in the end ... and he was an active bidder on all the partials. He was not high bidder until we offered the entire 220 acres. I just couldn't help but wonder why he even placed any bids ... seems to me he just drove the package deal higher.Land around here is not as expensive as other parts of the country ... what we thought was $1500-1600 an acre land ended at $1875 an acre.
Most sellers are afraid of a real estate auction.
It all sold to one buyer in the end ... and he was an active bidder on all the partials. He was not high bidder until we offered the entire 220 acres. I just couldn't help but wonder why he even placed any bids ... seems to me he just drove the package deal higher.Land around here is not as expensive as other parts of the country ... what we thought was $1500-1600 an acre land ended at $1875 an acre.
Most sellers are afraid of a real estate auction.
