Equipment auctions

[Texasmark]

Been decades since I attended an auction, being there in person and bidding. Looking at a piece of equipment that is 300 miles distant which I can load on my trailer and bring home if I won. The www shows bids and a sale date. I assume you get registered and prove that you can pay for the item prior to the election...Y/N.

The question is, if you are the high bidder, determined when, from a remote location, via your www bid, what does that have to do with the auction?

Another question: What if you get to the auction site, kick the tires so to speak, and realize that the thing upon which you bid was a piece of junk, what happens next?

 

[NY 986]

Been decades since I attended an auction, being there in person and bidding. Looking at a piece of equipment that is 300 miles distant which I can load on my trailer and bring home if I won. The www shows bids and a sale date. I assume you get registered and prove that you can pay for the item prior to the election...Y/N.

The question is, if you are the high bidder, determined when, from a remote location, via your www bid, what does that have to do with the auction?

Another question: What if you get to the auction site, kick the tires so to speak, and realize that the thing upon which you bid was a piece of junk, what happens next?

Best to contact the auction company in question prior to the sale. I've done so in the past to find out how much time is granted to pick up an item and if they will take an out of state check or require a cashier's check. Doing your homework now will minimize surprises on sale day.

 

[Timmycornpicker]

Well, up here in NJ and PA, the online auctions are still "as is, where is, no guarantees or warrantees expressed or implied" so if you won the bid you are expected to pay for it and remove it, piece of junk or not.

 

[Texasmark]

Well, up here in NJ and PA, the online auctions are still "as is, where is, no guarantees or warrantees expressed or implied" so if you won the bid you are expected to pay for it and remove it, piece of junk or not.

That's comforting as this item, a 12' batwing, seems to have a really messed up PTO connector and input drive shaft. I have a spare input shaft for my baler that is heavy enough duty to replace the one on the mower.

Butttttt, back to the original question: If you bid remotely, you guys that have done this, what does that have to do with the auction date and results of that activity? What determines that a remote bid prior to the auction will buy the item, or is a crap shoot...the auctioneer doesn't tell an in person bidder that he has a www bid and if the in person bidder doesn't over bid the remote offer, the remote bidder gets the item?

 

[Phill Tibbetts]

Different auction houses have different terms but most now charge a premium of 10 to 20% to the bid price when you pay plus any taxes. Everything is sold as is where is. and you have to register ahead of time.

 

[johnofnewhaven]

That's comforting as this item, a 12' batwing, seems to have a really messed up PTO connector and input drive shaft. I have a spare input shaft for my baler that is heavy enough duty to replace the one on the mower.

Butttttt, back to the original question: If you bid remotely, you guys that have done this, what does that have to do with the auction date and results of that activity? What determines that a remote bid prior to the auction will buy the item, or is a crap shoot...the auctioneer doesn't tell an in person bidder that he has a www bid and if the in person bidder doesn't over bid the remote offer, the remote bidder gets the item?

Texasmark is this a live action with Internet bidding (simulcast) at the same time or is this a timed auction? If it is a regular old-fashioned live auction that also includes simulcast online bidding then the auctioneer does tell the live bidder that the internet is bidding and where the internet bid is. If it is that type of auction then you are just a remote live bidder. The live auctioneer will announce at the end of bidding on any particular lot whether the in-person bidder actually at the auction site or the online bidder got the winning bid. If it is a timed auction over a set period of time that could be hours or even days with no live bidding and strictly online bidders then at the end of the allotted time the online auction format will notify the winning bidder. If you could tell me exactly what type of auction it is I could better answer your question.

 

[Not db4600]

Different auction houses have different terms but most now charge a premium of 10 to 20% to the bid price when you pay plus any taxes. Everything is sold as is where is. and you have to register ahead of time.

I just watched a AC190D w/ Allied 594 FEL and can sell. I was interested as it would upgrade for snow moving. The pictures were bad and fuzzy. The description said “new engine, new brakes, runs great”. The inspection day was Tuesday 10:00-2:00 because everybody is available for those 4 hours of the week.
Last Saturday I snuck under the fence to take a look. The engine might be new since 1965 and no evidence of recent break work. The rock shafts were still snap coupler which carried an adjustable hitch by a homemade linkage. The batteries were dead so I couldn’t confirm “runs great”, hydraulics, or transmission.

Thing auction house now charges 15%, tax, and a $5 handling fee. The hammer price was $2700.00 which puts it at $3,360.00 at the counter.

That’s not a bad price for a 190 w/ FEL unless it’s a dog w/ a bad tranny. I didn’t bid

 

[DanielW]

Are you saying that this is both and online and in-person auction? I'd heard of a few of those a while back, but not for years. Now they're all online-only, and the 'sale date' is just the closing date for the online bids. Are you sure this isn't the case with this one?

If it is both an online and in-person auction, the one/only time I attended one had all the bidding start at the highest online price. Sometimes folks bid higher in-person, sometimes it didn't get any more bids and sold for the online price. But that was a bit of a gong-show auction, handled pretty poorly by an auction company that didn't regularly deal in large equipment (it wasn't strictly a 'farm' auction, but rather a reduction auction for a box store that was closing. There was a Case 685 they had for parking lot maintenance I was interested in - the rest was crap). Others might do it the way old reserve bidding was done - start the in-person bids at zero, then once the in-person bid is finished, the auctioneer looks at the reserve bid (or in your case, the highest online bid) and tells the crowd if it's sold or not. But that would seem an unusual way to do things, because online bidders couldn't keep up to the in-person bidding.

Easiest thing would be to call the auction house and ask. I'd be surprised if there's any in-person bidding at all. It would be a wacky way to do things. Everything's gone to online-only around here. As mentioned, the 'sale date', is just the day on which the online bidding closes. Nothing to do with actual 'in-person' bidding.

 

[Margo]

Was bidding on a 12’ batwing last year online. Had went and inspected the unit. Watching and bidding live. Placed bid but accepting it was slow. Missed out. Found one the next week that I think so far is a much better machine. Bought it from pictures and talking with seller. Bought it over the phone. Both of us trusted each other as far as what kind of shape it was in and me driving 3 hours to pick up. Everything was good. Ended up paying about the same amount as the other one and glad I got the one I got. Stuff at the auction is there for a reason. Be patient.

 

[BarnyardEngineering]

Butttttt, back to the original question: If you bid remotely, you guys that have done this, what does that have to do with the auction date and results of that activity? What determines that a remote bid prior to the auction will buy the item, or is a crap shoot...the auctioneer doesn't tell an in person bidder that he has a www bid and if the in person bidder doesn't over bid the remote offer, the remote bidder gets the item?

Is it a live and online auction, or online only?

If it is a live and online auction where pre-bids are taken online, your pre-bid will be treated as an absentee bid, or a "left bid." Your bid will take precedence as long as it is the highest bid. Contrary to popular belief, most auctioneers will NOT pull bids out of thin air to run you up to your maximum bid.

They will start at the amount that has been pre-bid online, and go up from there, unless it is stilly stupid like $5 on something worth $1000's. That happens all the time. In those cases they will call until someone "real" bids a minimum amount, then they take your bid, just like absentee bidding.

Most live and online auctions offer live online bidding, so you can bid against other people as if you were physically present at the auction. Instead of raising your hand, you push a button.

The auctioneer will indicate if a bid is being taken from online.

If it is an online only auction, you are bidding against other bidders "live," just over the computer. The auction ends at a set time, and whoever is highest bidder when that happens, wins. In many cases, the auctions are extended by 2-5 minutes if someone bids at the last second, so someone can't block you out by out-bidding you at the last moment.

 

[INCase]

That's comforting as this item, a 12' batwing, seems to have a really messed up PTO connector and input drive shaft. I have a spare input shaft for my baler that is heavy enough duty to replace the one on the mower.

Butttttt, back to the original question: If you bid remotely, you guys that have done this, what does that have to do with the auction date and results of that activity? What determines that a remote bid prior to the auction will buy the item, or is a crap shoot...the auctioneer doesn't tell an in person bidder that he has a www bid and if the in person bidder doesn't over bid the remote offer, the remote bidder gets the item?

not sure how they do it. i've seen a couple and as db4600 mentioned if your internet connection is so so or the auctioneer's connection is so so you might loose out. I cannot imagine the speed that most auctioneers go at that they would have time or take time to watch the internet. So i would think it would be a crap-shoot to win online unless you go high. I do look at quite a few things around here that are online ONLY. usually get some pretty good deals ... one problem with them is the pick up day is for a few hours ONE day and that is ALL you get so if you work or can't get there you might be out of luck... other online auctioneers are more accommodating than one around here.

as far as kicking the tires after you get there??? If i were the auctioneer or seller I would say you're out of luck.. "all sales are final" so a crap-shoot unless, IF they misrepresented it in the listing you might have a chance??? if its online you usually have to enter your payment info (Credit card) and they bill you right away if you win so you may not have much recourse... buyer beware as always... would pay to spend a couple minutes and call the auctioneer and ask these questions..

 

[DoubleR]

On a big ticket item I always make a road trip ahead of time and check it out. I'm always up for a road trip on my motorcycle. Although I did buy a tractor for 10 grand site unseen 450 miles away once. I made a few phone calls and it turned out to be even better than what I expected when I picked it up. I've always thought once you were the high bidder at a auction it was yours, good or bad.

 

[Texasmark]

On a big ticket item I always make a road trip ahead of time and check it out. I'm always up for a road trip on my motorcycle. Although I did buy a tractor for 10 grand site unseen 450 miles away once. I made a few phone calls and it turned out to be even better than what I expected when I picked it up. I've always thought once you were the high bidder at a auction it was yours, good or bad.

Making the pre-bid road trip is the problem for me. Most of the things I am interested in are over a day's drive....but buyer beware prevails. You don't check it out, you may regret it later.

 

[johnofnewhaven]

Are you saying that this is both and online and in-person auction? I'd heard of a few of those a while back, but not for years. Now they're all online-only, and the 'sale date' is just the closing date for the online bids. Are you sure this isn't the case with this one?

If it is both an online and in-person auction, the one/only time I attended one had all the bidding start at the highest online price. Sometimes folks bid higher in-person, sometimes it didn't get any more bids and sold for the online price. But that was a bit of a gong-show auction, handled pretty poorly by an auction company that didn't regularly deal in large equipment (it wasn't strictly a 'farm' auction, but rather a reduction auction for a box store that was closing. There was a Case 685 they had for parking lot maintenance I was interested in - the rest was crap). Others might do it the way old reserve bidding was done - start the in-person bids at zero, then once the in-person bid is finished, the auctioneer looks at the reserve bid (or in your case, the highest online bid) and tells the crowd if it's sold or not. But that would seem an unusual way to do things, because online bidders couldn't keep up to the in-person bidding.

Easiest thing would be to call the auction house and ask. I'd be surprised if there's any in-person bidding at all. It would be a wacky way to do things. Everything's gone to online-only around here. As mentioned, the 'sale date', is just the day on which the online bidding closes. Nothing to do with actual 'in-person' bidding.

Daniel there are online and live auction at the same time a lot. Go to Equipment Facts or Proxy Bid. They have them just about daily. It is a very common thing.

 

[Mule Meat]

The question is, if you are the high bidder, determined when, from a remote location, via your www bid, what does that have to do with the auction?

Two different types of Internet auctions.

One is a live feed where a few people monitor online and phone bids as the auction takes place live. You must "go live" and bid just like you would if you were there in person or be on the phone with them at the time.

The other is like eBay. You make your bid through the web site hosting the auction. You make a bid and let it ride. If you get out bid you will be notified and will be able to make another bid. Some places like GunBroker. You can bid the max you are willing to pay up front. The site will increase your bid automatically until the auction ends or your max bid has been reached.

Another question: What if you get to the auction site, kick the tires so to speak, and realize that the thing upon which you bid was a piece of junk, what happens next?

It's yours.
Online auctions are legal and binding. You are legally bound to pay for it and remove the item if stated in the auctions fine print.

 

[scootergmc]

I do auctions that have online bidding prior to the auction and continues through the live sale. They continue taking online bids through the live auction while the auctioneer is in the truck doing the live sale. Phone is NOT required. There's a ringman in the truck with the auctioneer calling out any live internet bids. There's a live video feed for online auction participants to watch and bid. Sucks if you have crappy internet or you're slow on the "bid now" button.

Any online bids are treated just like being in person, and your credit card is on file with a deposit in order to online bid. If I'm you, I'm not wasting my time with an item 300 miles away unless it's absolutely something I need. You're stuck with the item if you win and regret it.

 

[Brown David]

If someone buys something sight unseen they end up with whatever it is. Nobody's fault but the buyer's IMO.

Not a good practice.

 

[Phill Tibbetts]

That's comforting as this item, a 12' batwing, seems to have a really messed up PTO connector and input drive shaft. I have a spare input shaft for my baler that is heavy enough duty to replace the one on the mower.

Butttttt, back to the original question: If you bid remotely, you guys that have done this, what does that have to do with the auction date and results of that activity? What determines that a remote bid prior to the auction will buy the item, or is a crap shoot...the auctioneer doesn't tell an in person bidder that he has a www bid and if the in person bidder doesn't over bid the remote offer, the remote bidder gets the item?

 

[Phill Tibbetts]

I feel this way, an auction is where people get rid of unwanted items they couldn't sell themselves either because it was junk or they didn't want to bother with it. My opinion is most of it is junk.

 

[RedMF40]

I feel this way, an auction is where people get rid of unwanted items they couldn't sell themselves either because it was junk or they didn't want to bother with it. My opinion is most of it is junk.

Most of it is junk with obvious or hidden issues. Some nice machines show up that are out of estates and they fetch higher prices but are usually still a good deal. I live close to a consignment auction house and if there’s something I’m interested in I talk to the auctioneer who has a good idea of its condition and where it came from.