Back from the auction

[perry]

Unbelievable what people will pay!!, I did pick up two attachment plates for $50 ea. but man!, I just couldn't believe what some of these folks were paying for trash. Example: an off brand grapple bucket with 1/4" arms plus nut&bolt pivot, (no pin and bushing pivot!), went for $1200??. Glad I kept to my limit on what I would pay....................

 

[skidsteer.ca]

Many of the people at these auctions are used to dealing with dealers and are not acustom to direct to customer internet pricing. (they don't use computers)
I know the last sale I attended in Winnipeg the skid steer attachments were for the most part 90 to 100% wore out, and still fetched 40 to 60% of what they could be had for new.
There was the odd decent piece that brought 75 to 80% of new that may have been worth it if there were no surprises.
Those experiences are alot of what got me into importing stuff to Canada.
Ken

 

[TriHonu]

Yea, been there. What is the saying about a Fool and His Money...

The only Ritchie Bros Auction I attended that the prices were really cheap was an auction about a month after the World Trade Centers came down.
Everyone, including myself was wondering what was going to happen next. I saw a lot of nice iron roll over the ramp and sell for maybe half of what it should have. I had cash in the bank and should have spent it all. By the spring auction, all the prices had resumed to normal. I would have easily doubled my money in 4 months. I could have bought four nice loaders, sold two in the spring and effectively got the other two for nothing.
There were a lot of people at the auction but most kept their hands in their pockets.

 

[Idoitall]

I went to the Nashville auction for the 1st time last week. There were plenty of machines for sale and most all brought significantly more money than I was prepared to pay. Also, of the equipment I watched (100-150 items), almost half or more sold to Internet buyers. The auctioneer would call out the bids and when sold to an Internet buyer he called out the location, many of which were overseas.

There must be market out there if buyers can pay too much at auction and then pay hundreds or even thousands for transportation and shipping. Like a lot of autos, many of these will be for sale the next week as "One owner, low hour" machines.

 

[Tazza]

I went to the Nashville auction for the 1st time last week. There were plenty of machines for sale and most all brought significantly more money than I was prepared to pay. Also, of the equipment I watched (100-150 items), almost half or more sold to Internet buyers. The auctioneer would call out the bids and when sold to an Internet buyer he called out the location, many of which were overseas.

There must be market out there if buyers can pay too much at auction and then pay hundreds or even thousands for transportation and shipping. Like a lot of autos, many of these will be for sale the next week as "One owner, low hour" machines.

The best place to get good prices are auctions that only have a small amount of machinery as the ones dedicated to say mining and earth moving attract those sort of people. The wins i have had only had 2 or 3 skid steers at that auction.
With that said, you never can tell.

 

[kelly_b]

I've been to auctions where people pay damn near retail for garbage. Glad you stuck to your guns.