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At an auction, Why do you bid the way you do?
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ChrisTN
Posted 1/22/2010 08:24 (#1035278 - in reply to #1034984)
Subject: Re: At an auction, Why do you bid the way you do?



Ethridge, TN		If I'm going to take time to go to an auction, then it's time to do homework before you ever leave home. With the internet and all the equipment listings that are on line, it's not to hard to get a pretty good feel for what you can equivalently purchase off a dealers lot. Then you can figure so much for freight, depending on how far you might have to go to get it. So I figure up what I'm willing to pay, and adjust that figure according to what the item looks like when I get to the sale.

As far as the actual bidding, I'll generally let someone else start it, let a couple bids happen, and then jump in. If it's jumping by large amounts, and stalls, and is below my target, I'll bid half the call, but once I'm in, I'll ratchet quickly towards my price if need be. This may be more from the aspect of the fact I hate drawn out auctions that are taking forever to pull bids.

Best auctioneers, and the auctions I like to go to best, are the ones that will not fool around milking for bids. They will rip off the first few items so fast, that it'll make the crowd pay attention, or they won't get what they came for. But like I said, I hate the auctions that take all day trying to milk it, when the amount of equipment shouldn't have taken over 4 hours to sell.
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