Auction of a Friends Stuff Who Recently passed. Machine shop Stuff and Custom Harleys...

awheelterd said:
Heck of a buyers premium :eek:
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Actually pretty standard at machine tool auctions. Some are as high as 25%. Lowest I’ve seen was like 15%. Throw in sales tax too. I just always figure +25% on the hammer price. I’ve seen people bid $600 on a Kurt vise you could buy brand new with free shipping for $525.
🤷‍♂️
 
Def one of the coolest guys I know. He custom built, not restored, this Morgan. This was the second one he did. He recently sold the first one.
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jeepinmatt said:
Actually pretty standard at machine tool auctions. Some are as high as 25%. Lowest I’ve seen was like 15%. Throw in sales tax too. I just always figure +25% on the hammer price. I’ve seen people bid $600 on a Kurt vise you could buy brand new with free shipping for $525.
🤷‍♂️
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This is all auctions these days. A fool and his money will soon part ways.
 
StretchASU said:
This is all auctions these days. A fool and his money will soon part ways.
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ive about stopped looking at and buying stuff from auctions. between people paying more than new retail for something used because they think they got a good deal on it at auction, and the two local auction companies not putting reserves on anything but then no selling stuff that they think is being sold to cheap. Im about over it.
 
jeepinmatt said:
Actually pretty standard at machine tool auctions. Some are as high as 25%. Lowest I’ve seen was like 15%. Throw in sales tax too. I just always figure +25% on the hammer price. I’ve seen people bid $600 on a Kurt vise you could buy brand new with free shipping for $525.
🤷‍♂️
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I guess im spoiled. The two local farm auction companies have no buyers premiums for on site bidders and only like 10% for online. Then other local more general auction place only has 10%.

That aside, Ive all but quit going to them anyway because like you said, folks bid stuff up as high as or higher than new.
 
awheelterd said:
I guess im spoiled. The two local farm auction companies have no buyers premiums for on site bidders and only like 10% for online. Then other local more general auction place only has 10%.

That aside, Ive all but quit going to them anyway because like you said, folks bid stuff up as high as or higher than new.
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That seems to be a trend these days. People bidding on nothing they know anything about thinking they can make money from it.
 
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