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Honored Advisor
Posts: 13,260
Registered: ‎05-13-2010
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Re: Consignment Sale

Yes, good luck Jim.  It seems like farmers have money to bid at sales, I don`t know where they get it, but I hear sales so far are going good.  Is that auction pretty good on commission?   I`ve never taken anything to a consignment  sale, but looked at some of their rates and items over $1,000 not bad, but items under $100 they really charge.

 

Just a story about a couple auctioneers that operated around here quite a few years ago.  They told this one guy that they`ll mark a lot of his tools and machinery as "household" items then it wouldn`t effect his taxes...well the machinery was 10% commission and the household was 25% so what the IRS didn`t get, they got in commission.   Smiley Very Happy