After years of going to auctions I find that any method can work. Slow, fast, high, low anything goes. All it takes is two people with money that want the same item. I would NEVER start an item high. The one way to guarantee you won't ever get a steal is to start high. Why do that? I know the fair value of an item before hand and stick to that price. Fast bidding or slow, big bids or small, the end will come and like it or not, many auctioneers will not let something goes for a fraction of its value. They have "protection bidders" whether real or imaginary-I know I was one a few times and when I stopped at the protection point my "bidding" magically went on. And current equipment draws dealership bidders that always know a fair price too. An auction is not the place to be saving ones time either. A good auctioneer works hard to get his price and I respect that. If the crowd is timid and he has to work his tail off $50 at a time to $10,000 I know he's doing his job- not real efficient but that's the crowd. He can only ask so many time for a start then he has to start low. Not to say he should do that with each broom and shovel, though. We had one auctioneer that would INSIST that each item start at a fair price like a $500 disc start at $450. Surprise, he's not around anymore. That's a yard sale not an auction.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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