Shop Totally rearranged the shop... and moved every last piece of equipment

[trlvn]

In the bad old days of live auctions, there was always a chance you were in a bidding war with a TREE. You know how an auction often comes down to a back and forth between 2 bidders. The auctioneer sings a number--you raise your hand. But so does the other guy. Often those bidders are within eyesight of each other. But sometimes, one of the bidders is 'at the back edge of the crowd'. An unscrupulous auctioneer can be going back an forth between you, a real live human, and some apparition that only he can see!

Or so the story goes.

Still, if you are after a big ticket item, it is prudent to have your eyes wide open. And maybe a buddy that is watching your back.

OTOH, all kinds of stuff can be sold at auction!

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Craig

 

[Susquatch]

So, why doesn't the seller/auction house put in a reserve bid? Or is that a bad for promotion and advertising?

For reasons I don't understand, reserve bids are very rare in farm auctions. Once in a while someone will do that but it usually becomes a joke because they get no bids. So the auctioneer asks if they will drop the reserve, they do, and the bidding starts at $100, and then quickly climbs WAAAY beyond the reserve. It's a joke and a punishment for anyone daring to post a reserve.

Often, the auctioneer will ask for bids at what he thinks is fair. Same thing happens - no bids. So he starts dropping the price till someone finally bites, and then the race is on climbing above his starting ask.

Farm auctions are crazy stupid.

But we are entering a new paradigm of on-line bidding now. The magic of in-person auctions is gone. Now, we are all bidding against some farmer in Mexico or California.

My neighbour was reviewing the lots in an upcoming farm auction and asked the auctioneer when we would be going back to normal. The auctioneer told him "NEVER". Obviously, the auction places love the new way.

Edit - @trlvn - the internet is a forest full of those trees now.

 

[6.5 Fan]

Lot less work for the auction house if they can do everything via the internet.

 

[Susquatch]

Lot less work for the auction house if they can do everything via the internet.

That's an interesting comment. Why do you think that?

I think most of the work is in setting up the auction, putting things in lots, conducting the auction, and then collecting money and shipping stuff out. In my observation, it's actually more work cuz they have the in-person bids AND the on-line bids to watch.

I think they like it because the selling prices are higher and they get more commission.

Edit - just noticed you said "everything by internet". That might have happened at the height of Covid but that's not typical of what is happening out there. They are basically doing both now - internet and in-person.

 

[Mcgyver]

So, why doesn't the seller/auction house put in a reserve bid? Or is that a bad for promotion and advertising?

I think the auction psychology needs the action. They might get someone to $1100 if they start and 50 but not if they start at 1000, get the thrill of the deal, thrill of chase adrenaline going. I don't think its just a metaphor, but really is brain chemistry....based on my scientific research with me as the guinea pig lol.

Pre-technology you could get some great deals at a poorly attended auction. I used to love the farm auction thing, 30-40 years ago. Now, for machine and estate type auction I rarely see any good deals, esp with all the BS fees and rigging added. Good used prices maybe, but not the month of Sunday it takes to find what you are looking for. Its to easy for the Waynes (of this) world types reseller to bid up anthing that might be a deal. Good for sellers though, its a more efficient market.

 

[6.5 Fan]

It's easier because there is no need to haul all the people and equipment ie trailers, lunch vendors, etc out to the auction site and no need to hire ring men and other extra staff.

 

[Susquatch]

It's easier because there is no need to haul all the people and equipment ie trailers, lunch vendors, etc out to the auction site and no need to hire ring men and other extra staff.

Ya, see my edit above. I don't think that internet only will continue. They are doing both in person and internet now so more work not less.

 

[Dan Dubeau]

I really miss in person farm and industrial auctions. It's been a while. There used to be a lot of good farm auctions out this way.

 

[TorontoBuilder]

OTOH, all kinds of stuff can be sold at auction!

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Craig

I wonder what I could get for her?

 

[trlvn]

Ya, see my edit above. I don't think that internet only will continue. They are doing both in person and internet now so more work not less.

Who are "They"? There used to be a couple of sites that listed upcoming auctions. Right now is a low point in the auction calendar but only a couple of the upcoming listings that mention "Live":

http://theauctionadvertiser.com/auctions.xml

By comparison, Hibid.com is currently showing about 175 auctions for Ontario:

Live & Online Auctions in Ontario | Hibid Canada

The leading live & online auction platform in Ontario. Bid on Art, Collectibles, Coins, Jewelry, Antique auctions & more.

ontario.hibid.com

AFAIK, Hibid is online-only. And Maxsold.com has several more online-only auctions but I can't easily count how many at any one point.

It seems to me that, with a few exceptions, the market has almost completely moved online. Personally, I think that sellers and auctioneers are making a LOT more money with the online format. Prices go sky-high on a lot of things. Far, FAR more people can drop a bid on something online versus attending an all-day sale hoping to bid on a couple of lots. Plus auctioneers are cashing in on the 'Buyers premium' concept that certainly didn't exist 25 years ago. Sure, they have to photograph the items but I think they are handsomely compensated for that. I believe the auctioneer would have a lot less labour hours in an online auction versus a live one and the proceeds far outstrip the live version. Win-win for them...at our expense.

I miss the deals I used to be able to score at the end of the day at a live auction. I don't miss standing out in the blazing heat or a cold rain, though. And I don't miss the days when there were 2 interesting live auctions on the same day and I had to choose which one to attend.

I'd be shocked if live auctions make a resurgence. Auctioneers are too busy getting rich on online sales.

Craig

 

[Susquatch]

Who are "They"? There used to be a couple of sites that listed upcoming auctions. Right now is a low point in the auction calendar but only a couple of the upcoming listings that mention "Live":

"They" are definitely not outfits like HiBid. LMOA! "They" are little farm auction places around these parts like Curtis Babula, Kent Farm, Shakelton, Vanklaveren, etc

But ya - nobody holds farm auctions in the middle of winter that I know of. Most farmers don't even use the big auction places let alone attend them - that I know of anyway.

 

[jcdammeyer]

So now that the shop has been re-arranged. Made anything with the new lathe yet?

 

[TorontoBuilder]

So now that the shop has been re-arranged. Made anything with the new lathe yet?

Yesterday I bought some hot and cold rolled steel, since I planned on using the lathe today. But I ended up staying home today. I didn't like the thought of getting of driving with all the unqualified drivers on the road causing all the crashes since I only have all season radials on my car, which makes it harder to weave and dodge.

 

[jcdammeyer]

Tell me about it. Driving my wife home from work on Wednesday evening (she has only front wheel drive) and I have all wheel drive with new M+S tires. Doing about 35 to 40 on the main road a guy in a pickup truck came screaming through a stop sign unable to stop and likely wasn't intending to anyway.

I hit the brakes, the anti-lock kicked in and we started to slow down but it was clear that he'd broadside me so I turned to the left and booted it managing to swerve and navigate around his front end which ended up where we would have been if I'd just stayed on the brakes.

Luckily there was no one in the on coming lane so I was able to pull it off.

Idiot!

 

[Gordie]

Well, John, great story with a happy ending. Did you know that a Standard Modern is coming up soon in Toronto? I would have thought that your "me and my brother want to buy a SM lathe APB" would have pinged.

I don't know about removing the tire rack though unless you are retaining compost and recycling bins for that homey touch.

Merry Christmas, Joy, and prosperity to you and yours.

 

[TorontoBuilder]

Well, John, great story with a happy ending. Did you know that a Standard Modern is coming up soon in Toronto? I would have thought that your "me and my brother want to buy a SM lathe APB" would have pinged.

I don't know about removing the tire rack though unless you are retaining compost and recycling bins for that homey touch.

Merry Christmas, Joy, and prosperity to you and yours.

Yes I saw it, but it is in St Thomas, which is a 3 hour drive from our shop... we haven't ruled it out... but we are also no longer without any lathe so we can act without urgency.