Farmer Brown drives 50 miles to a farm auction. He looks over the inventory and finds everything from soup to nuts. Many misc. things of interest on the flatbed wagons. A number of household items. Many shop tools, lawn and garden stuff, livestock supplies and equipment from fence posts to a working tub. Machinery lineup looks pretty interesting too. Some junk but mostly well cared for iron. Some of it is antique, some of it is vintage machinery, and some of it is late model stuff, and some of it is nearly new. So everything from an antique garden tiller to a $200,000 combine. There's for sure something here for everyone. Now the auction starts and what is going on? Only every third item is being sold. 1/3 of the items didn't sell because the owner had the auctioneer start the bid at a set price that was too high and nobody bid. (Buy-it-now) Another 1/3 of the items didn't sell because even though items were bid on by many bidders and the top bidder should have received the item, the owner had a reserve set and made a no sale at the last minute. (Reserve Price). Now I ask you folks, how many of the guys would want to be Farmer Brown at that sale and how many of you would ever attend an auction from that auctioneer again? This is what ebay has done to their auctions. In an effort to extract as much money as possible from the sellers, they have given him the reserve price and the buy it now tools to get him to list every worthless piece of junk from his garage without the risk of giving it away if no one bids on it. This wastes the time of the buyer and does not allow the market to find the price of an item and ruins the whole concept of the auction format as it was intended and therefore turns away more and more buyers as a result.
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Today's Featured Article - Women and Tractors - More Views From the Farmer's Wife - by Teri Burkholder. The top ten reasons why the judges wouldn't let you participate in the stock antique tractor pull: Hey, this is stock! It came with that V8 in it! That "R" on my tires stands for "really old" not radial! Blue gas? We thought it was a pretty color! What wire hooked to my throttle?
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