Commission Rate for Selling Equipment

[cfpinz]

A friend of ours lost her husband last year to a farming accident, and has a half dozen or more pieces of farm machinery that need to be sold. She isn't able to do so herself, and there is no one in her family that is trustworthy to handle money - to be polite. I told her I'd take all of the equipment to my house and sell it for her, just to be ensure she gets a fair shake and also as a favor to her late husband - I really liked him. I have no interest in making anything from this, but she insists I keep something as commission. What would be a fair rate for handling this?

Thank You.

 

[bird dog]

5% ? Maybe 10% if the items are under a certain price like $2000.

 

[callmefence]

Eight percent would be the standard here.

 

[SBMF 2015]

7-10% is pretty standard for the auctioneers around here.
Do it for 5% then take the $ and donate it to your friends church or a charity in your friends name.

 

[jltrent]

People need to be paid and loading,unloading, selling takes money and time. Speaking for myself I am bad to do things for nothing and at times lose money.

Since it is for a friend to help out, with your knowledge and ability to be able to help out I would if myself do it for cost (maybe 5%) as usually no good deed goes unpaid. I am sure the lady needs help.

 

[callmefence]

People need to be paid and loading,unloading, selling takes money and time. Speaking for myself I am bad to do things for nothing and at times lose money.

Since it is for a friend to help out, with your knowledge and ability to be able to help out I would if myself do it for cost (maybe 5%) as usually no good deed goes unpaid. I am sure the lady needs help.

This is exactly right.
Your friend isn't looking for charity. Looking for someone knowledgeable and trustworthy. Your gonna earn your commission believe me, so take it and feel no guilt.

 

[cfpinz]

Thank you all for the responses, I appreciate it.

 

[SmokinM]

I agree 5-10% is very fair. Doing a similar deal now for a customer and you will earn it especially if you post the stuff and can't just sell it thru friends. Don't suppose a nice 10' disc is on that list?

 

[cfpinz]

I agree 5-10% is very fair. Doing a similar deal now for a customer and you will earn it especially if you post the stuff and can't just sell it thru friends. Don't suppose a nice 10' disc is on that list?

No disc in the mix, my apologies.

 

[snoopdog]

Auctioneers around here charge 10% on big ticket items, i think that would be fair

 

[jltrent]

cfpinz situation is different as he is trying to help a widow woman, but a couple close equipment auctions charge a 10% sellers commission and a 10% buyers premium. I have just about got to the point to avoid those and I have noticed their equipment lots are getting less and less. If I bid I keep in my mind the 10% extra as that is usually, at least that much, you have to spend on a piece of used equipment when you buy it to get it going in good usable shape.

I have seen better deals and better equipment on Craig's List and Market Place with no premium... I will trust a seller face to face over a lot and you cut the middle man and the song out.

 

[snoopdog]

cfpinz situation is different as he is trying to help a widow woman, but a couple close equipment auctions charge a 10% sellers commission and a 10% buyers premium. I have just about got to the point to avoid those and I have noticed their equipment lots are getting less and less. If I bid I keep in my mind the 10% extra as that is usually, at least that much, you have to spend on a piece of used equipment when you buy it to get it going in good usable shape.

I have seen better deals and better equipment on Craig's List and Market Place with no premium... I will trust a seller face to face over a lot and you cut the middle man and the song out.

I agree, this is a different situation, and I know his heart is in the right place. I would want a friend of mine to be in his position, I think we all would. But fair is fair, and if he's going to do the work, he should be compensated.