People and auctions.

[Flyinbowtie]

Went to a tool auction yesterday. First time in ages I have been to an auction of any kind. The gent with the stuff is moving back to SoCal after having set himself up with a pretty nice hobbyist shop for metal fab and car building. Granted, not pro quality, mostly out of the Grizzly catalog, but fine for most non-pros. Like me. I heard about it from a close friend, who is the first cousin of the wife of the auctioneer. The wife of the auctioneer is the paralegal in my attorney's office.
(Small town grapevines can be a good thing under certain circs.)
Most of the stuff was less than two years old. The bandsaw I went for was last years model, retail was almost $2600 on it.
We got to the site about an hour before the show started to register and look at the stuff. I had my Grizzly catalog with me, and their was one floating around in the shop where the auction was held.
Hence, if ya could read English, there was absolutely no excuse whatsoever to not know what the stuff was worth. You would think that this little bit of info would keep folks from being stupid.
You would be wrong.
On at least a half-dozen big ticket Items I saw folks bid stuff up to the point where they were paying retail, plus shipping, plus tax, plus 5-10%.
I don't know if they were stupid, bidding with their ego, or a combination of the above, but it was damn sure something to watch.
Imagine paying $450.00 for a blast cabinet you could by brand new for three bills.
How about 3k for a mill you can buy new for $2500.00???
It got really silly when about 8 pairs of china tin snips went as a lot for $50.00.
There were some deals (I got one on the band saw I wanted) but there was some downright dumb moves put on by some people in there, too.
On the way home, Cindy summed it up pretty well.
"I guess the economy hasn't completely tanked yet if we still have stupid people out there doing stupid things with their money."

 

[DirtyWhiteBoy]

I have seen that also. Something about an auction sign that calls to the shallow gene pool types.

 

[snake321]

Not to mention it always feels good to know how stupid other people are.

 

[DirtyWhiteBoy]

Not to mention it always feels good to know how stupid other people are.

That doesn't help me too much, I prove my stipidity on a regular basis! It wouldn't be fair not to include myself in that group....

I have to make fun of ugly people

 

[OCMerrill]

Not to mention it always feels good to know how stupid other people are.

LMAO! Amen.

It's like all the people that just dump money into slot machines. You have to think they know better. Gaming wise it's the worst game to play but EASY sells.

I have been to a few machinery auctions and for the most part you can get a deal. But these are not homeowners looking for a home-shop item. Apparently I don't want to attend one of those auctions.

I remember getting into a bidding war over an Injection Molding Machine. I bowed out but the other two idiots bid the thing to the moon. We were all competitors and maybe the "I can't Loose to him" deal was in play but the machine went for 20% more than current market value.

Enjoy the Band Saw. Glad you got something you wanted.

 

[Flyinbowtie]

It really does not feel good to see people making fools of themselves. It leaves me fearful for the children they are raising and their ability to understand just how special this country really is. I dealt with these folks all my professional life; just have not seen it so aptly demonstrated in a couple of years.


OC I am gonna enjoy it. I plan on years of making big metal chunks into smaller ones.

 

[OCMerrill]

OC I am gonna enjoy it. I plan on years of making big metal chunks into smaller ones.

LMAO!...I like it.

I remember seeing some pics of your project...maybe a Ford truck? Am I off base here?

 

[Outdrive1]

I've been to quite a few auctions and have noticed the same thing. Usually when I go, I've already researched what I want to buy, and I know what I'm willing to pay. Then just like you said, you'll see idiots bidding stuff up to retail. People get consumed in the bidding I think.

Now on the flip side, since I buy cars a dealer auctions to make extra money in the slow season. Dealers won't bid cars past a certain number, meaning if the reserve is too high, a lot of times they will run a car through the auction over and over until the reserve comes down low enough to sell. I see that all time, nodoby gets excited, dealer auctions don't have that "personal want" that regular auctions have. You rarely take a bath on a car unless there's something wrong with it that you don't catch in the veiwing area. Most of the time you can make a small profit on every car, because it won't get bid up past market value.

 

[DirtyWhiteBoy]

LMAO!...I like it.

I remember seeing some pics of your project...maybe a Ford truck? Am I off base here?

SAY IT AIN'T SO!!

With a name like Flyinbowtie!!!

 

[snake321]

That doesn't help me too much, I prove my stipidity on a regular basis! It wouldn't be fair not to include myself in that group....

I have to make fun of ugly people

hahahahahahah, I've been known to do stupid stuff once in awhile myself. Just not when it comes to hot rod parts or tools...

 

[Flyinbowtie]

Yep, a Ford.
The FBT is a tag I got from a hot sand rail I built, 630 HP. SBC in a car. The build is detailed in the customs section.

1956 F-100 Big window I have owned since 1976. Drove the heck out of it until '83, stripped it to the frame and then I got hooked on the sand and the truck sat.
It's time has come.:beer
We have some plans going together to expand my 20x30 shop into a 1100 plus sq. foot mancave; and I am going to spend some time putting the 56 back on the road.

 

[TITTIES AND BEER]

they had one last year across to way ,i got in on the end of it(cus i didn't know it was going on) they had som good deals.some kid bought a 3 wheel golf cart,6 new batts,a new charger and in great shape for 80$:hmmi ask him what he paid as he was loading it,80 bucks:hmm i said "I GOT A HUNDRED DOLLAR BILL?" SOLD:beer my gradkids have a blast on that thing and goes along way on full charge

 

[TPC]

One of my responsibilities was maintaining the refrigeration and A/C at LAPD police property at the Piper tech center.
Indoor storage of recovered crime stuff.

An incredable place to simply walk through.
Nice video poker machines, furniture, cars parts,, tools, classic ice truck,, damn, ya never know on and on.

Twice a year the LEOS opened up the recieving dock rolling doors & would action off the unclaimed items and it always amazed us what people would pay for absolute junk.

Those old nasty Hibatchis ya buy at Sav on for 7 bucks would go for $20.
Neil Sedaka CD $10,, a picture of Wayne Newton $20 WTF??

 

[DirtyWhiteBoy]

Yep, a Ford.
The FBT is a tag I got from a hot sand rail I built, 630 HP. SBC in a car. The build is detailed in the customs section.

1956 F-100 Big window I have owned since 1976. Drove the heck out of it until '83, stripped it to the frame and then I got hooked on the sand and the truck sat.
It's time has come.:beer
We have some plans going together to expand my 20x30 shop into a 1100 plus sq. foot mancave; and I am going to spend some time putting the 56 back on the road.

I guess I can forgive you. I had a 52 ford flatbed with a screemin 350 sbc and 4 speed. would like to have it back

 

[whiteworks]

a friend of mine has an auction business. they buy from manufacturers that are going out of business, close out items from big box stores. the funny part of his business is that he will buy like 15 of one particular item and only let the public see one at the auction time. First timers get all caught up up the drama an will bid stuff to the moon. Then they come back the next week and see the same Item for sale again. I used to go down and just people watch during the auctions.

 

[ShockwaveBobSquarePants]

Go on eBay and watch bidders bid up items past another item exactly the same brand new with a Buy It Now plus shipping for less than they're bidding. I see it all the time.

 

[Yellowboat]

Some people get the feaver really bad, it does not matter what the prices is, they just have to win.


I've sold a couple things on ebay for more then they cost new...

 

[TPC]

a friend of mine has an auction business. they buy from manufacturers that are going out of business, close out items from big box stores. the funny part of his business is that he will buy like 15 of one particular item and only let the public see one at the auction time. First timers get all caught up up the drama an will bid stuff to the moon. Then they come back the next week and see the same Item for sale again. I used to go down and just people watch during the auctions.

A midget (dwarf) friend of mine noticed ski lifts use air cooled Volkswagen industrial engines for emergency stand-by with an insane gear reduction.

He also noticed those VW engines used the early 1950's air filters & housings.
Virtually impossible to find anyplace, and in demand because they eventually rot.

He ordered a shitload of them through the VW industrial catalog and would just put one out at the VW swapmeets.
He made ample cash that way.

Tammy, A little teen-age girl down the street manages a clothing store at the Oaks Mall.
<------Left in my Avatar Pic
She has retailing down pretty good for a 19 year old.

When she has an expensive, slow moving clothing item on the rack, she simply throws it in a cardboard box at the end of the isle,, and it's sold within the day.

She discovered lot's of ways to get stuff moving offf the floor:

"All kinds of little psyco things shill people into buying stuff they normally wouldnt or at prices way higher than they'd normally pay" she told us.

 

[BajaMike]

Amateur people go nuts at commercial auctions…….the pros know how to get the good deals, and often will work together to get what they want at a low price.

A buddy of my dad’s was in the used construction equipment business. He helped my dad get me a 5 year old gas company pickup, a Dodge short bed with a slant six engine for $600. I sold it 15 years and 200,000 miles later for $1700.

The guy’s buddies would all agree ahead of time what they wanted, and not bid against each other most of the time. The auctioneer would work with them, and cut off the bidding real quick on these certain pieces of equipment.

To make up for it, these pros would intentionally run up the bids on stuff they didn’t want (but some amateur was going nuts over), and then they would duck out when the bid got high enough and leave the poor guy paying way too much.

Kind of like stepping into a poker game with a bunch of shills who are all working against you…..tough to win in a situation like that!!

 

[whiteworks]

Kind of like stepping into a poker game with a bunch of shills who are all working against you…..tough to win in a situation like that!!

If you sit down at a poker table and you cant figure out who the sucker is, it's you

 

[Debbolas]

I love silent auctions

You get to bid and then go back to see if someone outbid you.

Of course I have the mentality that when my bid is accepted I have "won" Matt keeps telling me we have to pay for that, but it is fun:beer
You are right, people get caught up in the action and pay too much

 

[Ryphraph]

Go on eBay and watch bidders bid up items past another item exactly the same brand new with a Buy It Now plus shipping for less than they're bidding. I see it all the time.

You beat me to it... I have never been to an auction, but I do bid on EBAY stuff and people amaze me with the ego-bidding or whatever it is that makes them pay 20% over retail...

Ryph

 

[Skankersore]

A few months ago I went to the huge, Government seizure auction held in Riverside. There was an Aston Martin, a Ferrari, a beemer and a Benz, all seized from drug dealers. All of the pompous ass car collectors showed up and were easily spotted in their pony tails, leather jackets and gold chains.

The bidding became a ridiculous frenzy of power hungry Guidos. I sat next to a classic car expert who flew in from Maui. He had very meticulous notes and he obviously intended to leave with a vehicle or two. He sat in awe of the retards who continued to bid on the vehicles even after they exceeded their values over 25%.

The BMW was not a classic and the Kelley Blue Book value was at $21k; some dumbass was EXCITED when he won the vehicle at $28k, not to mention the ADDITIONAL 10% to be added for auction fees.

Their stupidity provided a few hours of entertainment.

 

[2Driver]

It's all taught in "Sales 101".

Create a sense of urgency.
Live Auctions
Sale ends Friday.
I have 2 other people coming to look at it.
They are selling over asking price, hurry if you want in.

Ever been to a big Estate sale where the people died and the whole household is for sale? It's appalling how some people act when they open the doors to the home. It's probably the best place to sell a car as some people dont take time to think.

 

[SBjet]

The guy’s buddies would all agree ahead of time what they wanted, and not bid against each other most of the time. The auctioneer would work with them, and cut off the bidding real quick on these certain pieces of equipment.

Well this type of collusion is illegal, they could be charged with a crime.

I've been to car dealer auctions, and consider myself a pro, I was dumbfounded at the police auction when people bid stuff up over retail, never wasted my time going back.
One time I went to a house auction, made the mistake of taking my (ex) wife, she got all excited, "BUY IT! BUY IT!" what a nutty experience.

 

[Skankersore]

Livestock auctions are fun and it seems the bidders dont get caught up in the bullshit frenzy. They know the price of beef/pork/lamb per pound and they're smart enough to NOT pay over that amount.

For some reason, the Govt auctions attract the retarded. You place a sportscar valued at $15k on the blocks and the auction company is guaranteed $20k.

 

[Skankersore]

We busted a crooked auctioneer at an antique auction once. The angry mob nearly lit the place on fire.