On-line equipment auctions ??? Anyone done that?

[Kathie in Thorp]

I hate to bust up the concentration on the SL get-together, but . . . .

That sweep tub (couple hundred miles from me) will be at a "regular" auction next weekend, that's also covered by an on-line service for bidding. On-line bidding will start an hour before the on-site bidding. Have any of you done the on-line bidding stuff before? Anything I need to be cautioned about with that? The on-line bidding outfit is Proxybid. Thx.

 

[Lon]

I never have but talk to alot of people who have. I hear both ways how they got a great buy or how they got took. Mostly if they got took it was on something like a atv or machinery though if that helps any. But the good side is on a crowding tub (i assume we are talking about the same thing here) if you seen detailed pics of it there really isnt much can lie about and if something is wrong a little welding can fix alot if you get into it cheep enough to take the gamble.

 

[TexasBred]

Kathie I'd be sure and ask them if what you will be seeing on the computer is "real time" numbers and not on some kind of delay. Probably will be but good to make sure anyway.

 

[backhoeboogie]

Proxy bidding can be good or it can be bad.

If the bid is already above what I am willint to pay, I don't go.

My experiences are that the auctioneer starts the bidding at the bids offered by proxy. Most of the time someone ups the ante.

Sometimes a proxy will stick. If the person had been there in person, they probably could have taken the item for less.

 

[CottageFarm]

I've used ProxyBid many times. It is real time if the auction house is offering that service. Some don't, but it's really what PB is all about. They will have someone monitoring live online bids at the sale.
It can be a good way to "attend" an auction that's too far away to drive. However, there is a 15-20% buyers premium in addition to any buyers premium the Auction house already charges. You will also pay local sales tax unless the item is shipped out of state. So beware that you could end up paying 25-40% more for the item than your bid price. And, of course, they really won't mention any problems the item has. It's very much a buyer beware situation.
Boogie is also correct that pre-auction bids will be the starting point and will generally be outbid. The only way to make it work well is to bid live. Leaving a real proxy bid is rarely effective unless it's double what it's worth, or the auction is really poorly attended and you get lucky. If they don't offer live bidding, don't bother. If it's an item that can't be shipped, I generally go to the auction in person anyway. I'll save the extra buyers premium, and will be able to look at the item and bid with more confidence.

 

[Kathie in Thorp]

CottageFarm, the buyer's premium for this sale is 9% -- no sales tax. Yes, the auction will also be running live. I talked to the auction folks today, and they answered some questions for me. So, I'm feeling slightly less challenged!

 

[john250]

I've bought a Gator and a lawn mower on Ebay. I haven't used any of the other online auctions. And not the "live" auctions. I guess I'm old enough I'd rather be there.

 

[Kathie in Thorp]

I've bought a Gator and a lawn mower on Ebay. I haven't used any of the other online auctions. And not the "live" auctions. I guess I'm old enough I'd rather be there.

We'll see how it goes, John. Not quite like Ebay, but sort of . . . .