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Auctions: The Good, The O.K., and The Ugly

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Blue3992

08-27-2006 10:53:31




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I’ve had a little extra spare time this past year, so I’ve been going to more auctions. I like going to auctions, I like seeing a good auctioneer work the crowd, I like having a chance to buy some unique stuff, and I like the occasional chance to get things for pennies on the dollar. After a summer of attending auctions, and after one particularly bad experience yesterday, I think I have the local auction circuit figured out.

There are three different kinds of auctions:

The Good: These are the ones done by a well-known auctioneer. Around Northern Illinois, those are your guys like Almburg, or maybe Gordon Stade. Almost everything being auctioned off is in good shape. Very little junk. The whole auction runs like a well-oiled machine. Stuff is set up on time, the girls in the registration trailer have their stuff together, and everything runs well. But tons of people show up, it gets kind of crowded, and there are few chances to get any really good deals.

The O.K.: These aren’t really too bad. Auctioneer with less of a well-known name. Some good stuff, but some junk, too. Smaller crowd, but for the good stuff that is for sale, you sometimes can get a good deal. Pretty well-run.

The Ugly: Some auctioneer you’ve never heard of. Unprofessional. Stuff isn’t set-up on time. Almost everything is junk. You get the feeling that someone already went and sold all of the good stuff they had, now they’re holding the auction just to get rid of all the junk. On the upside, these people are horrible at advertising, so you get a pretty small crowd, and you may be able to get some good deals on the few good items there.

I came to this conclusion after going to an auction yesterday. The ad in the paper only ran for two days. So, I figured it would be a small crowd. Lots of tools and garage-type stuff advertised, so I got up early on Saturday and drove out there. Drove about an hour, got there about an hour before auction start time. Auction was in the middle of a grass field. Most of the stuff seemed to come out of two big box trucks. Staff was still setting up. A lot of stuff that probably was nice at one time, but was now junk. Some Craftsman tool chests that were dirty, dented, rusty, and generally beat up. A couple of smaller tool boxes that didn’t close right. The ad had listed “1000’s of tools, Craftsman etc.” I saw more like a couple hundred tools, all scattered around, some craftsman, some not. All pretty greasy and rusty.

Also, a lot of “needs” items. You know, like, garden tractor, needs battery. Lawn mower, needs oil seal. Shop Vac, needs new plug. Truck, needs engine, transmission, rear end, body, chassis, and brakes.

The staff was still setting up the place up until about 15 minutes before the 10:30 start time. As of 10:30, there were a total of 4 registered bidders. That’s it, only 4. The auction staff outnumbered the bidders. Us bidders hung out for a while, chatting about the weather that looked like it was closing in, and the selection of “stuff” that was available. After about a half-hour, the owner and the auctioneer got together and decided to postpone until after Labor Day.

Although I did see a halfway decent toolbox I wanted, I sure wasn’t going to come back out again in a couple weeks to bid on it, so I waited until it started drizzling, and offered the owner 10 bucks. He said 30, and we talked about it for a little while as we both stood out there in the drizzle. We settled on 15, I loaded up and got out of there.

So, I guess the moral of this long story: I’m going to think twice about going to an auction by some auctioneer I’ve never heard of. They end up being poorly-run (or not run at all), they’ve got false advertising, and most importantly, I’ve got enough junk of my own, I don’t need to go buying someone else’s.

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Hard Knocks IV

08-27-2006 18:07:49




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 Re: Auctions: The Good, The O.K., and The Ugly in reply to Blue3992, 08-27-2006 10:53:31  
I enjoy auctions of all types usually attend over 40 a year sometimes 3 a week in the Spring. Just like any other business/hobby you have to be educated in it to get the most from it.I don't care if its a uncle cousin or the wicked stepmother bidding I bid what I want and stop at my limit and thats it.If I get the item fine if not thats OK too. At every auction there is a bargain at every auction there is something that sells for twice what its worth.Buyer beware
is the first rule and the 2nd is Expect the worst and you won't be disappointed.Also you'll never buy a bargain if you're BSing with friends while the sale is going on.Can't count the times I have bought something cheap because folks weren't paying attention then the ones not watching get all bent out of shape when I ask them what its worth.Auctions are hard work if you
'work' them right.

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redtom

08-27-2006 17:53:23




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 Re: Auctions: The Good, The O.K., and The Ugly in reply to Blue3992, 08-27-2006 10:53:31  
I went to a slae two weeks ago. I like the auctioneer he has a small but loyal following and his sales are usually in the same area where stuff is in nice shape. His partner was talking to someone before the sale and he was kind of bad mouthing another auctioneer in the area, the best as far as I'm concerned, and he said "he lumps off a third of the jewelry wagon and sells it. That's not right by the sellers". And he's right. Then two hours later in the blazing heat he's so exhausted from the heat and being overweight he's selling everything for a dollar. That's not right either. To me a good auctiuonee is weather you're selling or buying. But go to enough sales and you know who to hire for your own sale someday.

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farmerboy

08-27-2006 16:03:28




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 Re: Auctions: The Good, The O.K., and The Ugly in reply to Blue3992, 08-27-2006 10:53:31  
Local auctioneer has a monthly auction at a public events building. I've been to it half a dozen times over the last 4 years and nowhere else do I see the prices he gets. I've seen more than one item go for more than new. The biggest one that sticks in my mind was a B&D firestorm 12V cordless drill. They had it bid up to 95 bucks before the gavel fell. I don't usually shop at walmart but I happened to be in there a couple weeks later and saw the same darn drill new for 40some dollars. I did get lucky there last time I went - bought a craftsman table saw for 30 bucks. I couldn't believe it and still can't, it's a heckuva nice saw.

I called him to consign some items. Tell you what, he has 'em coming and going. The household stuff is on 17% commission, cars on 12%, tools on 10%, guns on 7% and he whacks the bidders for another 5% on top of the 5.5% sales tax. He said I could forgo the commsion by letting him buy it outright. Hmmm.

Haven't been to that sale for awhile. Not that he misses me. They always have bidding numbers into the 400s

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TomH in PA

08-27-2006 15:40:17




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 Re: Auctions: The Good, The O.K., and The Ugly in reply to Blue3992, 08-27-2006 10:53:31  
Same situation here.

Sometimes the family has picked over everything before calling the auctioneer to sell off the junk. I figure the good auctioneers turn down auctions that aren't worth their time.



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iowaw9

08-27-2006 13:57:58




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 Re: Auctions: The Good, The O.K., and The Ugly in reply to Blue3992, 08-27-2006 10:53:31  
No doubt there are differences just like any business, some are well run and some are not. My wife figured out after a certain auctioneer did her uncles sale and a neighbors down the street that she needed to go to his sales to get the bargains. I don"t know what he does wrong, he advertises plenty and he gets a big crowd but nice things sell dirt cheap. Like pennies on the dollar. He does mostly estate auctions but he did do a farm auction a friend went to that was just a matter of outbidding the scrappers. Don"t know what he does but it isn"t working.

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Jonfarmer

08-27-2006 14:42:52




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 Re: Auctions: The Good, The O.K., and The Ugly in reply to iowaw9, 08-27-2006 13:57:58  
Theres an old fellow that does household auctions around here, and everything sells for a dollar or two, like you say, pennys on the dollar of what things are worth unless it is something really special and the bidders are hot to get it. I know his problem is he talks real slow, but on the positive side, you always fully understand the exact bid amount since he would say " can I get a dollar for this wonderful _____, (then someone would bid that dollar) ok, a dollar I got, now how about $2" etc.... his mouth isn't going 90 miles an hour like all the other auctioneers in the area, and he doesn't pressure anyone to bid again like other auctioneers either. He does most of the household auctions in the area, but he must be all of 70yrs old. If you follow his auctions you could buy a whole house full of stuff for a few hundred bucks. Folks would better off to hold a large lawn sale then call this guy in. He brings in nice crowds, but he just doesn't get the bids like others do, the antique dealers sure love him since they get steals on all the antiques at his estate sales.

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morningwood

08-27-2006 14:36:41




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 Re: Auctions: The Good, The O.K., and The Ugly in reply to iowaw9, 08-27-2006 13:57:58  
We have a auctioneer in Central Ohio that I swear pays people to bid on stuff. You see the same people at each of his auctions and they always buy stuff. I usually don't stick around too see if they leave it at the site or actually load it up and take it home. He usually have a few auctions every weekend so I guess whatever he is doing must work.

Scott



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Jonfarmer

08-27-2006 14:52:40




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 Re: Auctions: The Good, The O.K., and The Ugly in reply to morningwood, 08-27-2006 14:36:41  
Yeah, I see alot of the same people at every auction I go to, since the folks that usually go to auctions, love to go to all of them. I see people buying stuff like that at every auction, but usually it is because they are a dealer. If you ask questions, I'll bet you will find they are antique dealers if it's a house hold auction, or a farm equipment dealer if they are at a farm auction.



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iowaW9

08-27-2006 16:17:55




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 Re: Auctions: The Good, The O.K., and The Ugly in reply to Jonfarmer, 08-27-2006 14:52:40  
My Dad and Uncle went to an auction for a great uncle in another state. When they got to the farm his sons gave them a list of what they were to bid on and how high to go. They said they didn"t want anything. No matter, they weren"t to buy it. They were just to get the price up to what the sons wanted. Makes you wonder how often that happens.



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