The going rate around here is 7-10% plus advertising cost for a mid size farm auction. With a rare piece DO NOT skimp on advertising. That one buyer that is from far away can pay for the whole sale cost.
When we sold out my Father-in-laws stuff he had one of the last JD 1250 3-16 plows ever made. He had bought them new and they had never set out. We advertised the sale well. We thought that the plows may bring $700-850. (this was in 1995) Two fellows came over 1000 miles just for those plows. They had a new JD 5500 they wanted a JD plow for. The plows sold for $2750. The total advertising bill was $1500.
Do not let your SIL go for the "CHEAP" auctioneer. Many of them will sell using a buyers premium and advertise it in maybe one paper. The sale is then a bust but the auctioneer still makes a goods days wage.
Things to do:
1) Advertise the auction in at least one regional paper. IF they live in Iowa the Iowa Farmer today would be that paper.
2) Do not count on the internet for much of your advertising. Many people still do not use the internet for auctions.
3) DO NOT throw anything away!!! I strongly disagree with those that say to do this. Do a good job of getting things out so people can see them. Do not over load the beginning of the sale with too much salvage stuff but do sell it after the better pieces of equipment. I have seen piles of iron I would not have hauled off bring 3-4 times scrap price because they wanted something in the pile. Plus they haul it off.
An example of this. My Grand Father never threw anything away. When I bought this farm there where sheds full of stuff that I would never use. A lot of this was old lumber. He would have some sawed for this or that project. There would always be a few boards left over. There where not enough to really build anything with but still more than I wanted to store. I sorted the lumber into piles by what kind and size it was. YOU know oak.ash,cherry, etc. I bet that I had 25 piles of lumber. Two antique furniture guys went nuts bidding on that old lumber. Those piles brought over $5000. You could have put it all on one big wagon load too. They said it would match the original wood in old furniture better as the grain is different in more modern wood.
So you never know what will sell for money you think is crazy. There will be some stuff that will sell cheaper but usually it all averages out on a good sale.
If the sale is within a 100 miles of the Quad Cities, I would like to come to the sale. Keep us posted.
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