Internet consignment auction

Charlie M · Dec 11, 2020

Auctioneer that I have purchased something at a couple of earlier internet auctions is having an internet consignment auction. He has a 15% buyers premium on this one. What does the seller pay these days. For this auction everything sells where the person selling it has it. I guess that is good if you don't want to truck it to a site. Its not so good if you don't want to bother with the buyer. Don't see anything about being able to take a look first. There aren't many things I'm going to buy that I haven't seen first. I'm definitely not buying a tractor that I haven't looked at first. Haven't seen many auctions this year - probably due to the virus. I've always enjoyed looking around at auctions even if I had no plans to buy anything. Sometimes you don't know what you want until you see it.

NY 986 · Dec 11, 2020

It varies. Many years ago I had to pay Teitsworth 5 percent on an item I was selling as a bid back. Best just ask the auctioneer in question.

paul · Dec 11, 2020

Yea I’m a farm auction junkie, and the online and premium fees stuff has sucked the fun out of it.

Actually a lot of mid summer and fall live auctions came back, as the state allowed some businesses to operate again, outdoor auctions were one. Seems a lot of folk feel like you and me....

Paul

Traditional Farmer · Dec 11, 2020

Read the complete auction information,usually will have a day or two to come look before the auction.I like them, tomorrow I need to haul off a load of calves and there is an auction I'd like to go to also.Its an on line and live auction,so tonight I'm going put in my bids on a couple tractors and some equipment.The on line auction will bid for me tomorrow.I especially like on line for auctions a good ways away don't have to drive a few hours and not get an item.Plus i don't have to 'rassle with the many sight seers that show up at live auctions.

muleboss · Dec 11, 2020

To me an on-line auction is like a blind date or a mail order wife. Never know what you will get.

DoubleO7 · Dec 11, 2020

I have not yet seen an online and real time consignment auction where the items are still in the owners possession.

I guess it is like ebay except the auction house gets a percentage for seller and buyer.

sandcastle1 · Dec 11, 2020

I bought an Allis Chalmers CA from a Teitsworth auction. Probably 18 years ago, I do not remember a buyers premium but I do remember a sellers premium when I sold a plow there a couple of years later.

EFV · Dec 11, 2020

What does " mail order" have to do with it ? LOL

jimg.allentown · Dec 11, 2020

I don't know about others, but I have a strict policy that I will not buy at an auction with a buyer's premium. There are plenty of auctions in my area that do not have a buyer's premium. I'll go to those auctions.

Wheat47 · Dec 11, 2020

15% seems high. Auction barn here had internet sale, everthing was at his
yard, bidder premium was10%.
He had another internet sale, everything was at the owner"s place,
premuim was 2.5 %. I've seen a few sales where thee premium
was based on the selling price. The higher the bid, the lower the premium.

Traditional Farmer · Dec 11, 2020

I couldn't care less how the money is split up that I spend at an auction,if a premium is going to be added just like sales tax I figure it all in to come up with a final price when I bid.

johnofnewhaven · Dec 11, 2020

Traditional Farmer · Dec 12, 2020

I've seen everything from Zero premium up to 20% premium in on line auctions,which is why the conditions and terms of the auction need to be read carefully.To sign up the bidder needs to agree to the terms so the bidders need to read what they are signing just like any other contract.

Stroby · Dec 12, 2020

We recently sold my Dad's farm equipment estate using on-line. There was a 10% buyers premium which covered the auctioneers time of setting the items up, taking pictures for cataloging, advertising both through the internet and signs/flyers locally. We negotiated a seller cost with the auctioneer. A fixed cost can be costly for larger higher dollar items. There was one day advertised for bidders to personally come look and it was stated on line that a personal visitation could be arranged by contacting the auctioneer who then contacted us for availability. We had little requirements from us to get things ready and the auctioneer had to deal with getting the money. I'd recommend it, it worked GREAT.

bc · Dec 12, 2020

I've bot a number of items through the Purple Wave auction. Farm stuff and then a lot of cities and counties public works sell old stuff. Got to watch things as usually they sell something that has been used to near death or obsolete. They usually list if something is inoperable but don't count on it. They charge a 10% buyers premium and then here in KS they get sales tax also which is close to another 10%. I automatically figure about 20% when I'm bidding.

Just bot a 72" 3 point mower from a city. You don't really see all the places in the pictures where they have rewelded things from hitting stuff. Once I got it home and looked underneath, well, I'm glad I have a welder and know how to use it cause it will need it.

Been looking for a tractor with 3 point and live pto to mow with and pull a blade. When I see one (preferably red) I will call or email the owner to get the low down first.

It used to be that the sellers paid a percentage and maybe they still do so the auctioneer collects double, don't know. They email about auctions and then you can set up a watch list of things you are interested in. Then they send a reminder email the day before to let you know the auction is closing the next day. Some of us wait for the last half hour or so to bid. Sometimes I've been outbid in the last 30 seconds and didn't have a chance to rebid.

Tony in SD · Dec 12, 2020

I Ike traditional auctions. I don’t buy anything from online auctions. Online auctions do not have hotdogs at there sales.

DoubleO7 · Dec 12, 2020

(quoted from post at 12:41:22 12/12/20) I Ike traditional auctions. I don t buy anything from online auctions. Online auctions do not have hotdogs at there sales.

And watered down hot chocolate!

BarnyardEngineering · Dec 12, 2020

Well, if you don't want to bother with the buyer, you don't put anything in the auction I guess... I haven't had an auctioneer come knocking on my door with a gun drawn telling me to put something in their auction, or else.

The online sales have turned it into a seller's market which is great if you have something to sell, but not so good if you're an addict and can't stand that you can't buy something for che-eee-eee-ap!

Buckeye Oliver collector · Dec 12, 2020

I can see online for larger items but for smalls it really hurts! If you get into something like toy tractors or tractor literature, they charge a certain percent to the seller for a commission, but the buyer usually has a buyers premium in addition to shipping and processing fees, which the buyer (sensibly) figures in to his/her final bid. I follow Girard auctions out of South Dakota and the prices are all over the place, low and high on some of the internet only auctions. A lot of times on small items the seller may be getting only 40 or 50 percent of what the value truly is when using an online only format, rather that 70 to 80.

oldtanker · Dec 12, 2020

OK, If I go to my JD or CaseIH dealer and buy something it's a set price. They don't add anything as a buyers premium. I'm not about to go to an auction a pay that either. Fleet Farm, TSC and Runnings don't have a buyers premium either. The fee the seller pays should take care of set up/listings, ads, and auction bills. What this is is auctioneers trying to underbid each other to get a listing then screwing the buyer to make up the difference. Sorry. I ain't paying that game!

Traditional Farmer · Dec 13, 2020

Think you just explained why on line auctions are getting so popular as they make more money for the sellers and the auctioneers which is why auctions are held in the first place.Plus according to a friend of mine that is an auctioneer it costs a lot less to work an on line auction less labor,set up costs,etc which means more money for the auctioneer and seller.I'm thinking of having one to get rid of a lot of the garden tractors and related equipment I have now.

showcrop · Dec 13, 2020

Charlie, you might want to post this again but put the part about items being at consignee's premises BEFORE the part about buyer's premium. Guys like to rag about buyer's premium so they read that and don't read the rest.

Internet consignment auction

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