Need some tractor auction tips

[Giles]

Over the years, I have bought many items at auction. The best advise for you has already been given.
I might add that when you look at an item, decide what you would offer if you were buying privately from a widow woman! Write the offer down and don't bid over this amount:thumbsup:

 

[scoutcub]

Agreed all good advise. I've also bought many things at auction, some have been great deals, others not so great. It's easy to get caught up in a bidding war, stay firm with a price. Extensive research about what you're buying is essential...check Ebay, CL, numerous other sites. Don't forget that state sales tax will be added, (unless you have an exemption) along with auction fees, that all has to be added into your high offer.
Good luck!

 

[blueriver]

along with auction fees, that all has to be added into your high offer.
Good luck!

Speaking of that ... are you referring to a buyers premium? I have yet to use one at my auctions ...

 

[brin]

Years ago my neighbor and I went to a farm equipment auction ( Ken Sweet and others have probably seen this many times ) anyway we knew the autioneer and the aution started and I was bidding on an item and so was my neighbor as were many others in attendance and the autioneer, our friend who we were standing right in front of began to give us both an ugly look and ignored our bid and sold it to someone else..After that item was gone he stepped down and politely told us we were bidding against each other and way over the value of the item...It was our first aution and we learned a valuable lesson...Just for what it's worth..be careful - keep your emotions in check and keep your eyes and ears open.

 

[scoutcub]

Speaking of that ... are you referring to a buyers premium? I have yet to use one at my auctions ...

Yes...I've seen from 3% to 13% at many auctions. Some are dependent on how you pay, cash, certified check etc. Others are dependent on the selling price, etc.

 

[Soundguy]

yep.. know what you can reasonably get out of it.. that tells you how much you can put in it.

Ideally one with a small easilly correctable mechanical flaw.. or good mechanicals.. but ugly. Many times a 20$ tub of bondo, 5$ of sand paper, 8$ of primer an cheap 25$ gallon of tractor enamil, plus an ugly 1200$ tractor, plus a couple months of weekends of work, and perhaps a hundred bucks in incedentals can get you a 3500$ tractor that you can let go for 3000 or 2800 even and still make some cash.

soundguy

 

[Giles]

One other thing that I have witnessed, especially at large auctions, is that there are "placed bidders" to get the price of an item up
I recently went to an auction and saw three individuals, with clipboards, bid against each other and other bidders on nearly every item---and they never bought a single item
Surely I am not the only one that noticed that

 

[blueriver]

One other thing that I have witnessed, especially at large auctions, is that there are "placed bidders" to get the price of an item up
I recently went to an auction and saw three individuals, with clipboards, bid against each other and other bidders on nearly every item---and they never bought a single item
Surely I am not the only one that noticed that

Thats excatly why our company does not handle a consignment auction of any kind ... all our auctions are absolute and every item sells to the highest bidder...regardless of the last bid.

 

[bp fick]

One other thing that I have witnessed, especially at large auctions, is that there are "placed bidders" to get the price of an item up
I recently went to an auction and saw three individuals, with clipboards, bid against each other and other bidders on nearly every item---and they never bought a single item
Surely I am not the only one that noticed that

shill bidding. Sometimes illegal. Seen it. Just look for it. If you are up against it, hold back your bidding. It's a way of leaving a reserved bid. At a break, ask the auctioneer what's up with that?

 

[zzvyb6]

If you intend to buy a tractor, take the steps necessary to bring it home right after the sale. Even before bidding, watch the usual folks who help themselves to parts, tools, pins, keys, cables, manuals and even weights.

If you leave it there for a while, 'things' will disappear. You'll need those 'things' to run it.