Went to first ranch auction - surprised

pen411

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Jul 29, 2016
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Florida
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Mahindra eMax 25 HST
Been to a few auctions, I guess it's universal that folks just don't know what they are bidding on, driving the price to close to or over new.
On the other hand, you do get lucky occasionally and there is that one thing no one wants.

I bid on a gigantic copy machine, I mean this thing was huge, about 4' tall, 8' long, 3' deep. Ran on 240v.
Paid $5 for it, cost me $65 to rent a lift gate van to get it home, another $160ish for the local copy company to come look it over and clean it up.
Sold it on eBay (back when eBay was good) for $1600+freight to someone in Colorado I think.
Bought a lot of overhead projectors and resold them as well.
Picked up a nice commercial paper shredder (~$300 new) for $1 because no one bid on it. Took it home, pulled the business end of a notebook out of the things teeth and it's been working for years.

Know what you are bidding on.
Don't get caught up in the other guys bid.
Take everything you bought with you when you leave.
 

GManBart

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Dec 10, 2012
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Detroit, Michigan
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Massey Ferguson 241, Kubota SVL90-2
It took me a while to figure out why guns were going so high in one of my first auctions attended. In some cases more than new. Then it dawned on me...no way for the government to track it to you

Not true. The auction still has to have an FFL process the form 4473 and do a background check over the phone. Most of the auction houses around here seem to be FFL holders, so it's easy. Here in MI you will still be required to file the registration form if it's a handgun.
 

300UGUY

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Apr 17, 2004
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Howell, Michigan
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Kubota L3400, Farmall H
Not true. The auction still has to have an FFL process the form 4473 and do a background check over the phone. Most of the auction houses around here seem to be FFL holders, so it's easy. Here in MI you will still be required to file the registration form if it's a handgun.

I used to go to a lot of auctions. I think some auctioneers will salt in a few guns, just to up the attendance. The type of auction is also important. Large consignment auctions have been my best deals. A lot of folks aren't going to auction anymore, they sell out thru CL or have a big yard sale. Most auctioneers charge $3K+ 10% just to have a auction. If you don't have enough stuff, they will turn you down, or have it lumped in with another sale, or do a consignment. And they hate reserves!
 

ishiboo

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Oshkosh, WI
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Kioti NX6010HSTC, Cat 279c
I do a lot of online auctions which are NOT eBay, specifically for tractor attachments/heavy equipment/etc. 95% of the stuff goes for way more than its worth. Often there's junk which goes for more than the new price, and it's all rusted and beat to ****. I think half the people who are not routine buyers don't ever think about the fact that there's potentially 20% between the buyers fee, credit card fee if they use one, and tax on top of their high bid amount.

About 5% of the time I get a deal. That's usually at the smaller auctions where there's not as much exposure, or the bigger ones where it's an occasional odd item. (I've made a few bucks off industrial PLCs and things, for example.) This year I got a nice LandPride heavy duty rotary for under $900, as well as a box blade and crimper detailed here. I missed out on a Rhino SE10 twin-spindle cutter for $2700... may have been a good deal as it was in decent shape minus the fact that the main PTO shaft guard (over the gearboxes) was missing, and there was no guard on the main PTO shaft either... I figured once you add in those few parts it's just about at retail anyway.

I think overall the only people that win are the auction companies, overall. But occasionally there are still deals out there.
 

ishiboo

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Oshkosh, WI
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Kioti NX6010HSTC, Cat 279c
Also, our local online auction behemoth makes it pretty clear their employees can and will be bidding on items, which I personally think should be illegal. I don't see many reserves, I think they shill bid if the seller asks.
 

CobyRupert

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Oct 30, 2012
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Washington County, NY
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JD 5075E
Having a shill does seem unethical, but..
How is having a shill different than having a reserve?
It would seem that the shill would get stuck with the item 50% of the time and nobody makes any money. Basically the same as having a reserve.
 

fidowanttobe

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Mandan ND
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Jinma 284 2007 Massey Harris 44 Special
Has anyone had good luck experiences with govt. surplus auctions? Can you refer me to some sites you like please?
 

ultrarunner

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Cat D3, Deere 110 TLB, Kubota BX23 and L3800 and RTV900 with restored 1948 Deere M, 1949 Farmall Cub, 1953 Ford Jubliee and 1957 Ford 740 Row Crop, Craftsman Mower, Deere 350C Dozer 50 assorted vehicles from 1905 to 2006
I did buy a used enclosed car trailer that did turn out to be a good deal... it had a gash in the real panel ramp... other than that in good shape.

It was a good buy and the seller said he was really surprised it went so low... Labor Day Weekend is his guess as probably many were away...

$80 for a new OEM panel and a couple of hours to install...
 

ishiboo

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Feb 1, 2011
Messages
987
Location
Oshkosh, WI
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Kioti NX6010HSTC, Cat 279c
Having a shill does seem unethical, but..
How is having a shill different than having a reserve?
It would seem that the shill would get stuck with the item 50% of the time and nobody makes any money. Basically the same as having a reserve.

I think it's effectively the same thing. Morally, I think it causes people to bid more to buy something that they think there is genuine other interest in, when it's just jacking up the price. And often times they go over what the reserve would be.
 
 
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