Re: Crooked Auctioneers

Posted by dhermesc on March 24, 2003 at 12:59:21 from (65.141.163.118):

In Reply to: Crooked Auctioneers posted by Jim on March 23, 2003 at 03:43:06:

I would never go to a consignment auction looking to buy an expensive piece of equipment. The best ones are estate, or absolute auctions. The shills in the crowd can try to run you up, but they are a lot less aggressive knowing they will have to pay for that tractor they thought was going too cheap. Nothing like throwing a bid out there to boost the price an find out you just bought a tractor you don't need.

Two years ago I was watching a good IH 886 sell, they couldn't get a bid and very quickly back peddled to $6000, I threw a bid out to start it, immediately another guy bid $7000, at six it was a bargain I couldn't pass on, at seven I didn't want to explain to my wife where it came from or why we needed it. All bidding stopped and the guy who bid seven turn three shades redder when I didn't did again. He then walked over and offered to sell it to me for seven and I refused, I told him I MIGHT give six. He then accused me of just running up the bid! Turned out he was a neighbor that was trying to make sure the equipment brought what he thought was a fair price. His little favor cost him $7000. I told him I bid six because I was willing to pay six, he bid seven and he better be ready to pay seven.

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