Equipment Auctions ?

[John T]

Anyone here frequent equipment auctions?

I'd like to dip my toe in the auction scene but it seems like there are a lot of questionable websites.... kinda leary putting my credit info on there for bidding purposes...

Any recommendations?

I'd love to find a good deal on a skid steer one day.....

local to the eastern seaboard preferably...

 

[D2Cat]

I've bid on items on Purple Wave (auction run out of Manhattan, Ks) which deals in all kinds of equipment. Never did bid enough to take something home. You have to be aware of the buyer's fees They kind of rub me the wrong way, but there are no options..

 

[Lil Foot]

I've only been to a few, and I find in general that people are, shall we say, less intelligent than the stuff they're bidding on.
I have seen used item after used item sell for new or near new prices, everything from guns, to cars, to tractors, to ATVs, to machine shop equipment & supplies.
Maybe it's a Phoenix area thing, too many people with too much money.
I have only been really successful at one auction, where they were selling off the contents of a hangar belonging to a guy who died, where I bought my second lathe, and a pile of raw stock.
(NIW now owns that lathe )
I have pretty much given up on auctions, no deals to be had.

 

[GreensvilleJay]

Can't afford any of them !
It's all the 'add on' percentages.....moving fees,using a credit card fee !

Local place charges 'buyer's premiums', usually 15%, taxes are 13%

so... a 'sold for $100' item becomes.....

... sitting down ?

tada $130 'out the door' !!!
Really local auction. within walking distance, I looked at an Edwards JAWS IV Ironworker that I KNOW is at least 40 years old, has some tooling, I figure maybe $1500 before 'addons and taxes'(need to convert from 3 phase,no big deal...have motor here...but...)

It sold for $5,000 !!!!!

I don't get it.....

 

[Old Machinist]

I have purchased a military surplus generator through Government Liquidations. Got a good deal but they shifted sales to GovPlanet where the sets are tested and videos and the prices went beyond their worth IMO.

I bought my backhoe through eBay. It was risky, arrived two months after purchase, and was nowhere near as advertised. I got it cheap enough I still came out okay.

I bought my John Deere tractor through Weeks Machinery Auctions. They had decent pictures and a video or I wouldn't have bid. I was somewhat disappointed in how it looked when I picked it up but like the backhoe I got it cheap enough I came out okay on it.

Not sure I will ever bid on any equipment again if I can't look at it in person first. The last time I considered it I was looking at a larger JD cab tractor. That was at DeMott equipment sales in Moultrie Ga. They have a very clean organized lot. On my second visit to look at the tractor I was interested in they had the Kubota LX3310 I have now. They sold it outright to me at a very good deal so I drove away happy.

 

[Bmyers]

My nephews follow several different auctions in our area and surrounding States (close enough to be a day drive there and back).

They said the deals are not what they used to be, especially when you would just go in person to an auction. The online market has made it much more difficult to get deals.

Yet, a few times a year they end up getting a good buy on something, but they spend a lot of time watching the auctions, going to the locations and looking at the items ahead time to make sure they know what they are actually bidding on.

My dad, their grandpa, loves to go with them. So, it is a great way for them to build memories and have some fun.

 

[John T]

Good Call on the Hidden Fees....

I remember reading about Barrett Jackson auctions.... They Whack the Buyer 10% of the winning bid.
PLUS they whack the seller 10% AND an admission fee.

They are making money hand over fist.

 

[The Evil Twin]

I frequent Mountain Valley auctions. There are enough near me to make it worthwhile to bid. The fees and taxes are enough to rule most items out for me. I don't mind paying a little more (sometimes less) to have things show up at my door.

 

[ctfjr]

I have purchased a military surplus generator through Government Liquidations. Got a good deal but they shifted sales to GovPlanet where the sets are tested and videos and the prices went beyond their worth IMO.
. . .

ditto here - several years ago my son, who lives near Andrews AFB, and I bought a couple of diesel gensets there from the auction. He was able to inspect the 30 or so of the model we were interested in (MEP003A's) and we both got one. Came completely refurbed, less than 2hrs on the clocks, and on new tilt trailers.

I agree the prices they go for now on GovPlanet are more than i want to pay.

 

[MOOTS]

Remember, not everything at the auction is junk, but everything that is junk, is at the auction.

 

[hedgerow]

Anyone here frequent equipment auctions?

I'd like to dip my toe in the auction scene but it seems like there are a lot of questionable websites.... kinda leary putting my credit info on there for bidding purposes...

Any recommendations?

I'd love to find a good deal on a skid steer one day.....

local to the eastern seaboard preferably...
[/QUOTE
On line equipment auctions that I have used in the past are purple wave, auction time, big iron. You have to read all there fine print and know all the fees. I won't buy any thing with a engine without looking at in person. Have gotten a few good buys on equipment pieces and things like tractor weights. There are a lot of equipment jockey's out there so getting a great deal is getting tough. Couple years ago I was looking for a newer 10-15 year old JD 150-200 HP tractor with no emissions and low hours everything on the actions sites were bringing retail plus I ended up buying a one owner tractor privately.

 

[RCW]

@John T - - I like these guys. I don't buy anything at auction but like to attend them. Part of the culture of (former) farmers.

They're in the Southern Tier of New York north of Binghamton.

Manasse Auctions

They do Real Estate, estates, repossessed vehicles, and a lot of equipment auctions. Sometimes have some really cool stuff.

Do a Spring and Fall Consignment Auction for the local Farm Bureau. Spring sale in May is very large with a lot of equipment. Bet there's 3,000 people there sometimes and 3,000 or more lots.

Their buyer's premium is 10-13% as I recall. Again, I only buy a hot dog and coffee.... No buyer premium for those...

With the Proxibid partnership they have, you can just watch the sale online without giving all your information. I do that sometimes. You can also be set up to bid online. I've done that before, but don't recall how.

 

[bird dogger]

I watch this site often: Public Surplus: Government Surplus Auctions

You can fine tune what your interested in and the location/agency you want to watch for their listings.
I like to watch the local universities and govt. agencies as you never know what might show up. Someties you'll get great deals on nice items! Other times the prices escalate to more than my willingness to pay.

You do also have to take into account the buyers premium that may be charged and the taxes on the winning bid.

 

[Workerbee]

Just read the auctions ‘terms and conditions’ once and you might reconsider ever bidding on anything. Morals dont have any meaning to an auctioneer. And when you realize that after you bought something, its too late. They have your money and a total legal release which you agreed to by bidding.

 

[RCW]

Just read the auctions ‘terms and conditions’ once and you might reconsider ever bidding on anything. Morals dont have any meaning to an auctioneer. And when you realize that after you bought something, its too late. They have your money and a total legal release which you agreed to by bidding.

Definitely. The terms and conditions would scare anyone off, but it's the same for Craigslist, FB Marketplace, etc. As is where is. Look before you buy.

I buy something 1% of my auction visits. I'd never bid/buy anything online. I still like to look.....

 

[Workerbee]

Definitely. The terms and conditions would scare anyone off, but it's the same for Craigslist, FB Marketplace, etc. As is where is. Look before you buy.

I buy something 1% of my auction visits. I'd never bid/buy anything online. I still like to look.....

I do see what you are saying, but I was simply addressing anyone considering buying equipment (presumably for thousands of dollars) on any online auction. Not that in person auctions are much better, but there you should be able to get a bit better appraisal. If you really want something at an online auction though, identify it in plenty of time, call a reputable dealer in the area and pay them to look it over before bidding. Thats the only way Id ever try it.

 

[Runs With Scissors]

Auctions are a mixed bag IMHO.

I have been "behind the scenes" at 2 "in person auctions" and both of them had "Shill bidders" in the crowd to make sure they got the "minimum" of what the owners wanted on certain things.

With that being said I just picked up a "new to me" lathe that retails new for about 5-6k'ish, for .......wait for it.....wait for it.......only $1,800......

WHAT A BARGIN.....the price was "Sofa King" low........

However, (and there is always a "however")

I also paid 20% buyers premium......

+ 6% tax......

+ $200 loading fee

so all in, I actually paid $2648.....

It happened to be fairly new 10-12'ish years, and appears to have very few hours on it.

Did I steal it?......No, I don't think so.

Did I get F'd........No, I don't think so.

I did get a little carried away at auction time, "yes, a little"......and I think that is the biggest problems with auctions.

Be aware, and have a "set in stone" price in mind......And bring your wife as a "safe guard"

 

[NorthwoodsLife]

Auctions are hit and miss depending on what you are buying and what is popular. Timing is everything.

Years ago, I bought a trailer on Gov Liquidation and it was almost like stealing. The price and fees were that good. The Federal Gov was liquidating hundreds of trailers and it was a steal. Some folks bought 10 and 20 of them to resale.

I paid about $600 for a trailer that has paid for itself 20 times over. And I could sell it today, 10 years or so later, for 4 times what I paid for it.

Kinda like after WWII when you could buy a Jeep in a crate for $50.

Timing is everything.

But I haven't bought anything lately on auction.

Edit: I have never bought anything at a live in person auction. Only online.

 

[lugbolt]

yep that's all I did for a while. Buy equipment (usually trade in from dealers) and run it through the auction house up the road

there was money to be made but some stuff just was in poor enough shape that I felt bad about selling it to anyone. But that was my business, so something had to happen with it and businesses aren't keen on losing money....

problem is, the equipment is run through the auction for a reason. Meaning, as a buyer, you are often buying someone else's problem.

As a seller I had to be careful about how much $$ I spent on fixing stuff because I kinda had an idea what the equipment would go for at auction. If I knew it was gonna go for between $10k and $12,500, and I had $9500 in it, I couldn't spend much on it. Remember there are travel expenses, etc to have to pay as well.

As a buyer, be careful. Inspect the equipment thoroughly and expect to have to put money into it. If the dash/cluster doesn't work, run away. They can unplug it to mask problems with the DPF, DEF, etc

that is the problem with auctions, is that there might be 500 people bidding on the same thing and you just don't know who has how much money in their pocket and who is willing to throw money at something just to keep you from buying it. The auctioneer's chant is specifically made to make you want to spend money....and it works.

 

[D2Cat]

Definitely. The terms and conditions would scare anyone off, but it's the same for Craigslist, FB Marketplace, etc. As is where is. Look before you buy.

I buy something 1% of my auction visits. I'd never bid/buy anything online. I still like to look.....

Mean you don't even buy anything from the snack stand?