The movie 'County' with Jessica Lange was about the 1980s and such an auction in it. A pretty good movie mostly, did show a lot of how those days were.
We may likely return to such a time if/ when the farm economy goes bad again.
I attended a lot of those auctions in the 1980s, one right across the road from me, later the auctioneer said how it worked, first few items sold too cheap and they were worried, then things did ok and the last 4 big items didnt have to sell, they bid them through but were bought back. The neighbor raised enough money to pay the bills and by keeping the bigger items he was able to keep farming. Eventually they still went under, but for that year, that auction saved them. Now if the neighbors had not bid on stuff, then everything woulda been sold, and all done, farm woulda been gone too.
The auctioneer was telling me about this in the early 2000s, but I figured out which auction he was reminiscing on, don't think he realized I would figure it out.... I am to understand a lot of auctions were held that way.
Went to another one 2 miles down the road, they couldn't give iron away there in the 1980s. Was real sad to see it that way, too.
Went to many of those 1980s auctions, probably 10 a year there for a stretch. Wasn't happy times.
I can understand not wanting to buy a tractor that way and not bidding. I get it.
Don't know if that's actually the right call or not, morally - as long as that is the question.
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