I second Traditional farmers comments. The value of anything at an auction is determined by the two people who want it the most. As a seller that is exactly what I want. If this was your auction, would you have stopped it at the price you thought was fair and gave it to the seller? I bet no.
When I am a bidder, I bid up to my max. price, if I get it good, if not, someone else owns it.
I hear lots of people complain at auctions of a tractor that sold for $5000 and they only wanted to pay $2500, or they saw one down the road for $2200. Well instead of complaining, you should have bought the one for down the road for $2200.
To answer your last line, yes I do see some of this at our local auctions, BUT, every item is worth what the highest bidder pays, not what all the spectators drinking coffee sitting on the seat of their childhood tractor reliving their youth think.
Favorite quote I hear a lot after a Cub, 8N or similar tractor sells in the $1000 price range... "My dad paid way less in 1948 when he bought one of those used". Sorry there has been just a little inflation in the last 65 years.
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Today's Featured Article - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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