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Tractor Talk Discussion Board |
Re: Reserve price farm auctions
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Posted by Mike (WA) on June 17, 2005 at 12:37:38 from (209.213.153.111):
In Reply to: Reserve price farm auctions posted by Ray on June 17, 2005 at 12:24:52:
Guess I can see both sides of it- Prices are so volatile at farm sales, I can see why they don't want to risk giving something away if the right people don't happen to show up. I can also see why you wanted the tractor for the price at which you were the only legitimate buyer- but can also see their side- they wanted to know how much you would pay, not the last price that two people would have paid. If it's enough, you've bought it. Even if not quite enough, then they confer with seller, and, like in your case, decided that your last bid was "close enough". It all comes down to making a system that gives some measure of protection to both buyer and seller, and doesn't just depend on who happened to show up. Collector car auctions have always operated that way, and buyers don't seem to mind once they figure out the system.
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