I'll just start by saying that if a tractor is worth $22k on the used market you're not getting it for $11k. Or if you are it's only because you're the biggest sucker, you just haven't figured out exactly why yet. But you will. That's assuming you're planning on using it versus a dealer who only needs to find an even bigger sucker, of which there seems to be an endless supply.
If it's a regular consignment auction the big thing to check is who's bidding on what and how many times that same machine has been at the same auction. That takes months of watching but you'll see it if you pay attention. There's a lot of shady stuff going on at these auctions that's not really illegal but you're up against a bunch of people who literally do it for a living and they know how to work the system to their advantage. Read into that what you will. These auction houses know what they're doing too, and will often make deals for the good equipment behind the scenes so they can sell it on their used lot (or their buddy's lot) which may operate under a different name at a different location. All that is not to say there aren't good machines or good deals to be had, just that you get what you pay for like pretty much everything in life.
