Re: making auctions

Posted by Straw Boss on March 29, 2015 at 23:30:59 from (66.35.113.103):

In Reply to: making auctions posted by rockyridgefarm on March 29, 2015 at 18:29:31:

I think most farm sales are pretty straight forward. I said most. That said, I feel its the consignment sales that cause a lot
of the angst. Consider this, on a farm sale a good auctioneer will encourage his seller to sell everything with no reserves. If
an auctioneer starts accepting reserves and the sellers act on them, word soon gets around that So & SO Auction Co often does a
no-sale on major items. I drove 2 hours to stand in a cold rain all day just to get top bid on X item just to have them no-sale
it. I'll never go to his blankety blank sale again. Pretty soon SO & SO Auction Co can't draw a crowd because of his reputation
so only half a crowd shows up so the seller shot himself in the foot anyway by putting reserves on. Everybody looses.

The auctioneers around here do no reserves BUT if its a major item they're concerned about, they will usually announce there's a
reserve price before the bidding starts. If it won't bring half what it should, they usually say Farmer Joe can't let it go for
that. Top bidder see Farmer Joe after the sale and see if you can't work something out. Nobody complains about this as most
agree with Farmer Joe and don't want to be in the same position.

Now on a consignment sale, the auctioneer has 800 people he's working for. Most consignment sales are nothing more than a place
to get rid of surplus, junk, old or repairable vehicles, out-of-date equipment, trailers and trucks that won't pass DOT, tractor
weights that look just like the ones somebody stole from your yard, your Grandmas old lawn mower etc.

People want to get rid of junk without the hassle of advertising, phone calls, tire kickers and creepers on your property. But
its also human nature to want top price for your treasures. Now it just isn't practical for a consignment auctioneer to have a
list of reserve prices for every other item for every other seller. Most will tell you if you want to protect your price, just
have someone bid for you or bid on your item yourself until you get the price you want. That's how you protect your price. Its a
very common practice. Is it really being dishonest? Its just a way of setting a reserve price. Push the bidders to hard and you
end up bidding your own item back, pay the auctioneer a minimum and your still stuck with the item. Its a way of finding a price
you both agree on. Nobody is forcing the other to bid higher than he's comfortable with be it buyer or seller. All depends on if
somebody wants to buy worse than someone wants to sell.

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