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Online auction strategy
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Larry_minn
Posted 2/28/2021 19:03 (#8864515 - in reply to #8863897)
Subject: RE: Online auction strategy


You can’t do strategy like live auctions. I have had people after live auction. “HOW did you get that so cheap? We decided to go to $5000 on that box. You bought it for $4000?? You STOLE that box”
Well I knew it was excellent shape, new, and used price in this area. During “stupid bidding”. (Where auctioneer calls for $6k, 5k, 2k, $1000, $500, $100 then it goes up $250 until $3000, then by $100 to $3600....)
Auctioneer called for $6k I replied $3000. He tried $4k, $3500, $3250, $3100? Got $3100 called for $3200. I replied $3500. dead pause by auctioneer. He lost his rhythm for a second. ;). Gets going get $3600, I reply $4000 before he can ask. He calls, begs, says this is deal of sale...twice sold.
You can’t do that online. Last live sale a NH 75 hp FWA 450 hrs I wasn’t there to buy. I wanted the TS110 2500 hrs.
Bid was crap on 75. I jumped the bid, sold. (Didn’t get 110 as imo it went high)
Picked up tractor. Owner (former). “You the one who stole my wife’s tractor?” I replied. “Nope I’m the guy who paid $2000 more then anyone else here today was willing to pay.” His buddies drinking beer with him remarked that was pretty true. Sole it a few months later at decent profit. (It just was too small for my needs, I was positive I couldn’t lose $$$ on the deal). I found loader kit, loader. If I converted it to loader. After parts I could have really made money.
Online auctions. Yep I put half price bids to keep it in mind. That way last few day I get notification “you have been outbid.” I then decide if it’s worth driving to look, or even make a phone call. Then I set my max. As it’s rare I drive 160 miles each way to look. I don’t win much. But I have a few. Right now a 70’ auger 180+ miles away. I won’t go near my in person bid. Looks like my last chance to bid 4 hrs before close. Odds of me winning? 10%
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