Posted by W_B on March 19, 2013 at 06:50:01 from (155.188.247.24):
In Reply to: Tractor auctions posted by Harvey 2 on March 15, 2013 at 15:02:32:
Not sure about tractor auctions but in the antique world about 15 or so years ago the buyers premium was working its way into auctions. Most auctioneers I knew didn't want to charge it. I remember Tom Porter, owner then of Garth's Auctions, standing up at one of the regular sales and saying Garth's has never and never will charge a buyer's premium. But when several of them started losing large and nice collections to those that charged a reduce commission to consignors and a buyers premium they had to come around or risk loosing their business. It was less than a year later that Garth's was having some of their early American auctions with a buyer's premium. Just a matter of economics. Would you rather pay the auctioneer a 10% charge as seller or 20%? Now that might effect who goes and what I finally get for any one item, don't believe there's anything other than anecdotal evidence on that issue.
As a buyer you have to just factor that in to your final maximum bid on an item. You do that, don't you, before you bid anyway? If I'm looking at a tractor at a sale with 10% buyer's prem. that I'm willing to go to $10,000 on, my final bid will be about $9,000.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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