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Farmall & IHC Tractors Discussion Forum
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Lost big money at auction !

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Jonathan Mirgon

09-14-2004 18:57:27




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I decided to take my 42 H to a local farm auction,I paid 1,000.00 for it, then spent 700.00 on a complete overhaul.I left the auction and decided that I would take whetever it brought.4 days after leving that Auction I got a check for 375.00 !! talk about taking a beating. I heard all the tractors there sold dirt cheap. Next time I will stay !!!!!




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darrin

09-15-2004 10:42:05




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 Re: Lost big money at auction ! in reply to Jonathan Mirgon, 09-14-2004 18:57:27  
Was at auction last spring and 4010 gas with widefront and 3 pt went for $1700.00 of course I wasn't there. It pays to stay, sometimes there isn't a minimum.



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dej(JED)

09-15-2004 05:53:44




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 Re: Lost big money at auction ! in reply to Jonathan Mirgon, 09-14-2004 18:57:27  
That is a shame! I think we have all been in that spot at least once in our lifes. The best auctions to sell at in our area are farm estate auctions. The buyers see this as a place where you can buy well maintained farm equipment and i have often seen them pay double real world prices.. A lot of auctioneers will take consignmens there. The other thing to do is watch the auctioners, some are better than others and they actually have a following. These guys make a point of knowing their followers by name and they are almost like "flim flam men". You know the kind of people who could sell the Brooklin bridge so to speak. They get a good price out of everything and that is where you want to sell. Good luck on your next go around.

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FC

09-15-2004 05:28:52




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 Re: Lost big money at auction ! in reply to Jonathan Mirgon, 09-14-2004 18:57:27  
Several years ago we consigned a large number of items to a local auction house during the 1st week of December. Usually there is a good turnout during this time of year, but this particular time it snowed a day before the auction, and tempuratures dropped below 0 the night of the auction. Talk about a beating! To top that I had a Wheel Horse mower in it, and had told the auctioneer to put a reserve on it, and he replied that if it did not sell he would not charge commission on it. When I recieved the receipts the commission was on there for the amount of my reserve (20% of $400 = $80). I demanded my money back and got it, but due to no turnout their were certainly some good buys that night for someone. But then again, I have seen the opposite happen where everything sells for more than it is worth (in my opinion). That seems to be the case when I go to 'em as a buyer.

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rustyfarmall

09-15-2004 05:06:20




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 Re: Lost big money at auction ! in reply to Jonathan Mirgon, 09-14-2004 18:57:27  
You should start following that auctioneer around, I'll bet that your H comes up for sale at his next consignment auction.



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gene

09-15-2004 07:37:15




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 Re: Lost big money at auction ! in reply to rustyfarmall, 09-15-2004 05:06:20  
That would be my guess - the auctioneer put in the last bid. I have seen auctioneers and their staff bid/purchase items that were way under valued. You can't blame them.



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ChadS

09-15-2004 07:34:10




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 Re: Lost big money at auction ! in reply to rustyfarmall, 09-15-2004 05:06:20  
Yep, I bet you might be right on that one. ChadS



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Guy

09-14-2004 21:40:27




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 Re: Lost big money at auction ! in reply to Jonathan Mirgon, 09-14-2004 18:57:27  
Sorry to hear that. It's a gamble. Where was this sale at? For a buyer I wish I was there.



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lee

09-14-2004 20:35:36




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 Re: Lost big money at auction ! in reply to Jonathan Mirgon, 09-14-2004 18:57:27  
Auction's a crap shoot. Depends on who's there, what's there, the weather, who knows. I wish it hadn't happened to ya.



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Jeff In Ontario

09-14-2004 19:18:23




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 Re: Lost big money at auction ! in reply to Jonathan Mirgon, 09-14-2004 18:57:27  
OUCH!!!!! Someone got one heck of a deal that day.

Jeff



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catmandoo

09-14-2004 20:50:26




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 Re: Lost big money at auction ! in reply to Jeff In Ontario, 09-14-2004 19:18:23  
thats what a reserve is for.



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lee

09-14-2004 21:34:52




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 Re: Lost big money at auction ! in reply to catmandoo, 09-14-2004 20:50:26  
You got that right there catmando! You gotta do the reserve, pay the fee, and truck it home if things don't work out. If not, they'll steal it and the auctioneers don't give a tinkers damn.



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