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jimw

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 They seem to have some nice stuff but I don’t care for the way they bid. Any bid Basically extends all items by 5 minutes. This goes on for a hour or two then something else happens ? A person needs to be a smart bidder on all auctions but I think people feel like they’re gonna loose an item so they bid more. 

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42 minutes ago, jimw said:

 They seem to have some nice stuff but I don’t care for the way they bid. Any bid Basically extends all items by 5 minutes. This goes on for a hour or two then something else happens ? A person needs to be a smart bidder on all auctions but I think people feel like they’re gonna loose an item so they bid more. 

I dont like the forced bid point either ,,but would consider $25-50 on high $

bExactly,ALL the platforms have to give the seller and AI bidder #7 time to increase "their" commission.

SCAM bays AI started it, Thats why all us "original" user/s were booted and new TOU"S brought in so it could not be tracked.

Here online 30% dont sell and 60% of the wins are done with Faux runup.

Most BP are 15-22% + bs add ons $$500-4000

Would just like to go back to 15% commission,do some actual work and really sell it.

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That seems to be the nature of online auctions unfortunately. Between “soft close” sales and bid increment changes at certain $ amounts it creates urgency and chaos which benefits the seller/auctioneer.  
 

We have an auctioneer here (near home) that charges the seller a % to sell and the buyer a premium % also. He normally does not do equipment but is double dipping. There are honest auctions but they seem to be harder to find than they used to be.
 

Besides that people don’t use any sense. I don’t collect coins but there were some gold coins at a sale last Saturday (in person sale, no buyers premium). Gold price was $1900/oz based on what I was told by a collector. They sold for $2400/oz.  The math just doesn’t add up. Especially on precious metals that have a very fixed value at any given time. That’s like having a gasoline price of $3.00/gal and asking to pay $3.50

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Auctions shouldn’t end until the biddding stops. It used to be a problem with early online auctions to just wait till the last few seconds and place a bid before the other guy has a chance to respond because the auction has ended. If you have a calculator buyers premium is irrelevant as long as you know it’s there. Figure it in and bid accordingly. It’s just harder to find deals anymore because good online auctions have so much exposure. Auctions are by and for the seller. The current climate is good for sellers and bad for cheapskates, such as myself. 

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Found where one of the updated TOU"S brought it to the top.

At the request of the auction company, this auction permits bids to be placed by the auctioneer, an employee of the auctioneer, or the seller or an agent on the seller's behalf. While auction's Unified User Agreement prohibits this behavior, in accordance with UCC 2-328, this auction is permitted to engage in this activity by providing this clear disclosure to you, the bidder.

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I got an online auction together for my wife’s grandpas estate. Old vintage farm stuff that I would never use, plus a 666 diesel, and a C15 Cat engine out of one of my trucks. I got everything out of all the buildings, cleaned it up, lined up outside and arranged it with similar items. Auctioneer took 12% from us and 8% from the buyers. Only created about $40,000 gross, but I thought the auctioneer made out REALLY well for doing… well… not much, since I even used my skidloader to load everyone out!!  
They wanted the auctions where they’re selling a $250,000 combine and $45,000 trucks. Don’t want to mess with auctions that only gross $50,000 anymore. They want auctions where they can gross half a million on up. 
No wonder I don’t really care for the auctioneer profession.  We spend all of our lives trying to build equity, and they want to sell it all in a few hours and take 8%-20% of it!!!

 

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Nobody is forcing anybody to bid. That said, the auction scene appears to have shifting after COVID.  Very few in person auctions out here. Most have gone to online. The terms are spelled out for the ones I bid on. 

There is a pretty popular Auction house near me that is completely online. Mostly little stuff and sells every couple of weeks. Hard to believe they can get the volume of items that often but they do. Occasionally they sell offsite farm stuff in addition to the usual in house items. I bought a W-4 McCormick from them. On all the farm equipment, they took 4 pictures each and put that online. Nothing was staged at the place. Just took pics and sold it. Buyer and seller premium was 22% all together I believe. I had to unhook the implement that was still hooked to the tractor. Nobody was around during loadout. Just paid at the sale barn then went out and got it at the farm 10 miles away.  I’m not a fan of it but I know what the deal is. I wouldn’t take anything to them to sell for me, not worth it. 

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9 hours ago, MT Matt said:

Nobody is forcing anybody to bid. That said, the auction scene appears to have shifting after COVID.  Very few in person auctions out here. Most have gone to online. The terms are spelled out for the ones I bid on. 

There is a pretty popular Auction house near me that is completely online. Mostly little stuff and sells every couple of weeks. Hard to believe they can get the volume of items that often but they do

Yes, dont like the deal...dont do the deal.  Local saleyard had 2 or 3 sales a year.  Only onsite.  Was kinda fun Saturday out sometimes really.  Covid..100% online.  Iirc its 10% for buyer.  O for seller,  If small its more % but dont recal #.   Weve sold some thing and bought some.  They do do a good job imho.  Lots of pics, yard is open to see etc.  Ive visited with the fella whom is taking it over from his Gpa.  Says he cant imagine going back to in-person.  He dont understand why people will pay 10 to 30% more on a computer vs looking at it.  And most items stay local.  Now they do 5 a year, 1000 items a time, lots of estate stuff but always 50% farm related.  Most is well used but hey there iant another ag centric sale for 4 hours.  We'll take it.  Again its just amazing whats will show up and what itll get.  I dont know how many times a newish item like tools, tires, or a nice smoker etc will go for same as retail then buy has to pay premium.  Or a tractor/truck goes though.  2 sales later its back.  2 more sales its back and so on.  Its junk....weren't you noticing it was resold several times?  But most times itll sell for same or better every consecutive time.  He does say junky things are finally cooling pricewise but decent machines a small acre guy could run are still high.

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