Auctions are weird.

[justin1]

I don't know what it is with auctions but man people love to over pay for stuff. Was watching a starrett 199 level in Edmonton and these things sell on eBay for around 500$-600$ shipped.

Sold for 725$ plus 20% so around 870$ all I can think is someone really wanted this one I guess or the adrenaline kicked lol.

I guess I watch the wrong auctions as I've never really had any luck with auctions in my area usually only get deals on miss labeled or couple good things mixed in with junk.

Now that every auction seems to charge 20% you have to be really careful not to over pay.

*Edit. Some of the bulky machines went for extremely cheap, scrolling threw the sold lots there was some deals to be had.

 

[trevj]

Yep. The very first Rule, of Auction bidding, is to know what he item you are chasing, is actually worth. Both at Retail, and to You!

My Gold Standard, when buying at an auction, was to pay less than the retail price of a Import knock-off, for a used example of a known, Quality Brand tool or item. Beyond that, someone else can have it, and I laugh all the way home...

I 'grew up', as it were, Auction-wise, going to farm and small town auctions in the south of Saskatchewan. I learned a LOT there, both about Action psychology and the psychology of sometimes hostile other auction goers...

When a particular person, started bidding, on an item that was known to be in his field, except that he was also know as a bit of a jerk, guys would purposely bid the price up until he started to quiver, so he paid the absolute MAXIMUM price. IIRC, one guy was so into Pecguagnat Clocks, around Moose Jaw, that he would simply stand in the back with his bidding card raised, not paying the least attention to the actual auction, until he heard his number called. I literally watched people take it in turns to run the price up until he started shaking...

I also learned that if you want something and can afford it, you go in way bigger increments than the Auctioneer is trying, and it sometimes scares the hells out of the competing bidders... Auctioneer is trying to get five dollars increments, bid maybe half-way to what you will be happy to pay, and like as not, the guys thinking in terms of five dollar increments will fade away after you bid a fifty dollar jump, on something that is actually worth two or three times what the bid is...

And, that when you reach the max price you are willing to pay, someone else can have it!

 

[Elektrishun]

I don't know what it is with auctions but man people love to over pay for stuff. Was watching a starrett 199 level in Edmonton and these things sell on eBay for around 500$-600$ shipped.

Sold for 725$ plus 20% so around 870$ all I can think is someone really wanted this one I guess or the adrenaline kicked lol.

I guess I watch the wrong auctions as I've never really had any luck with auctions in my area usually only get deals on miss labeled or couple good things mixed in with junk.

Now that every auction seems to charge 20% you have to be really careful not to over pay.

*Edit. Some of the bulky machines went for extremely cheap, scrolling threw the sold lots there was some deals to be had.

20 years ago when I used to go to farm auctions the regulars called it "Auction Fever".

 

[Elektrishun]

When a particular person, started bidding, on an item that was known to be in his field, except that he was also know as a bit of a jerk, guys would purposely bid the price up until he started to quiver, so he paid the absolute MAXIMUM price. IIRC, one guy was so into Pecguagnat Clocks, around Moose Jaw, that he would simply stand in the back with his bidding card raised, not paying the least attention to the actual auction, until he heard his number called. I literally watched people take it in turns to run the price up until he started shaking...

My father-in-law and his sister were well-known at the farm auctions. The sister was quite wealthy and if she wanted something no price was too high. People would often chase up the price when she was bidding and she knew it. But "having it" was more important than over paying.

 

[trevj]

My father-in-law and his sister were well-known at the farm auctions. The sister was quite wealthy and if she wanted something no price was too high. People would often chase up the price when she was bidding and she knew it. But "having it" was more important than over paying.

Yeah, that can either be good, or bad, as far as auctions go. I saw a lot of both.

 

[Martin w]

When you are selling at an auction, you hope for people like that all day long. At farm auctions, the family is sometimes bidding to keep stuff in the family, so some things go for more than normal.
I used to go to auctions all the time. They are not like they used to be. Now most live auctions have internet bidders as well. You are bidding against someone laying on their couch in their pajamas, while you are standing in the rain waiting for your thing you want to sell. I find that annoying.

 

[justin1]

Now most live auctions have internet bidders as well. You are bidding against someone laying on their couch in their pajamas

Which has its ups and downs as now I can go to auctions while I'm at work but also opens the doors for more shady practices and ghost bidding.

One auction I went to a guy bought bunch of the lots and tried selling the stuff he bought while still in the building being auctioned. He was located 5 hours away and anything he did sell he had buyer pick it up from auction location.

He ended up abandoning 60% of the lots and left it for the company going under to take care of getting rid of what didn't sell.

Not a practice I think is right as it wastes others time/money that and the other who were bidding could of used the items instead ended up scrapped. I know most people are looking to resell but atleast pick up your shit and sell it from your own property.

 

[Martin w]

Which has its ups and downs as now I can go to auctions while I'm at work but also opens the doors for more shady practices and ghost bidding.

One auction I went to a guy bought bunch of the lots and tried selling the stuff he bought while still in the building being auctioned. He was located 5 hours away and anything he did sell he had buyer pick it up from auction location.

He ended up abandoning 60% of the lots and left it for the company going under to take care of getting rid of what didn't sell.

Not a practice I think is right as it wastes others time/money that and the other who were bidding could of used the items instead ended up scrapped. I know most people are looking to resell but atleast pick up your shit and sell it from your own property.

He would only do that once. I’m sure he would be banned with that auctioneer. At least I would hope so.

 

[justin1]

He would only do that once. I’m sure he would be banned with that auctioneer. At least I would hope so.

Well maybe but I think you can just make new account under different name it's not like they need I'd just need a credit card so if you got a few of those your fine lol.

I would like to think that behavior isn't tolerated but I guess the auction company also doesn't care what happens after The item is sold aslong as they get money for it.

 

[Susquatch]

Well maybe but I think you can just make new account under different name it's not like they need I'd just need a credit card so if you got a few of those your fine lol.

I would like to think that behavior isn't tolerated but I guess the auction company also doesn't care what happens after The item is sold aslong as they get money for it.

GovDeals pulled my number when I tried to change my password twice in a row and locked my account. To get back in, I needed to provide my business number, copy of drivers license, credit card, and two recent utility bills with my name and address on them.

I felt a little bit like the next question was going to be very personal! Nobody is gunna be applying under a new credit card too easily with them!

 

[Chicken lights]

I haven't figured out how items go from auction house to auction house to auction house. Somebody's gotta pay the trucking, employees time to picture and list it, etc

What makes it weirder is some auction houses don't run it through an auction before it's moved on to another auction house

 

[DPittman]

I haven't figured out how items go from auction house to auction house to auction house. Somebody's gotta pay the trucking, employees time to picture and list it, etc

What makes it weirder is some auction houses don't run it through an auction before it's moved on to another auction house

That's interesting I didn't know that. I guess they make enough commission/fees on things that they are willing to take those chances?