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Senior Advisor

Aucttion values

I don't go auctions much. Don't much care to stick around for 4 hours waiting for an item that may be overpriced on the opening bid or soon after.

 

The talk about spite bidding interested me in that how do you discern that the bid is spiteful instead of the item being under priced creating interest. Don't any of you remember and item selling on the cheap side and thinking if it doesn't bring so much, I will be taking it home?  That is another thing I don't like about auctions is that one is prone to do some compulsive buying of stuff you don't simply because it is  cheap. My wife and garage sales is one example.

 

I can't think of anything I would bid on to keep someone else from a successful bid. How does it help me to make someone else pay more? I could understand bidding on a friends auction is something was way underpriced. Something you could buy and resell or good trading item at a dealership. I might do that for value but not to push the bids higher.  Some folks make a living buying and reselling. If you like them , they are called dealers and if you don't like them they used to be called scalpers. Does anyone use that term anymore or are they just called aholes?

 

It seems like we would have to know intent of the bidder before establishing whether a guy is a respected bidder or just a trouble make for the little guy.

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13 Replies
Honored Advisor

Re: Aucttion values

Maybe you Renwick folks are different Don, but in these parts old retired farmers would make sport of running up a item at a sale, especially if it was a rich woman buying a antique, you know the type "bids by holding her number in the air".   What happened to me one time is a neighbor had a sale with wooden A-frame hog houses.  Well I looked over and noticed 2 other neighbors standing thick as thieves smiling like Cheshire cats, I wondered "what the heck are they up to".   Well I wanted some of the A houses, pasture hogs weren`t popular, yet they went kind of high and I bought `em.  Then there were some crappy ones, someone started `em at $10, the ringman asked if I`d go $20, I did and the bid behind me want $30 and I shook my head "NO" so the guy behind me got hung with `em at $30 Smiley Very Happy  I was in HS living at home and saw the nextdoor neighbor that was a confinement man through and through dragging home these crappy A houses, and unloading them in a heap Smiley Very Happy A month later he asked my Mom if I wanted to buy `em real cheap and a month after that he asked my Mom if I wanted `em for free and a month after that I saw a big bon-fire. Now, everyone that knew him and knows me could not wrap there heads around why he ran the A houses up on me.  It was a matter of him thinking that he had me figured out, but my style of bidding is to go like nuts up to my price and then walk away.  I`ve seen dozens of times where auctioneers will run up and item on a bidder and they get hung with it and have to resell it (Blue Earth).  Of course if they can pull it off it`s money in their pocket not spite.

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Senior Advisor

Re: Aucttion values

It is really obvious that I need to wear my glasses at all times when I am posting. I can't even spell auction.

 

The only thing that even approaches that was when I was a young guy bidding on a flare box wagon. It was still ear corn days and the flare box with a hoist was the hot setup. My father in law had one and I tried to buy one to match his.

 

I was bidding on the wagon and large man started bidding against me. He stood nose to nose with me and bid against me every time I bid. I knew who the guys was but was clearly intimidated and gave up on the item.

 

Now I don't think for the moment the guy was spiteful and I suspect he was amused by the intimidation and my reaction. He took the wagon home and I didn't. It wasn't but a few years until we got gravity wagons.

 

I don't know that Renwick folks are different or whether I'm just unaware of what goes on around me. It wouldn't amuse me to make anyone pay more.

 

I'm somewhat bewildered about that guy on storage wars thet tries the run the bids up so the competitors run out of funds before they get to the sheds he wants.

 

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Honored Advisor

Re: Aucttion values

I assumed it was some type of Iowaaaa/okieee accent .  Had to read to see what type of aucttion you were taking.

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Advisor

Re: Aucttion values

I've never personally witnessed "spite" bidding, however, I've listened to some people brag about doing it.  Not verifiable, however.

 

I have witnessed "phantom" bidding, where the auctioneer behaves like there was a bidder somewhere in the crowd but was actually raising the bid to get a higher bid for his client, and a higher commission.  Also, the first tractor I bought from a dealer, I later learned came from an auctioneer as a trade-in who was actually using the phantom bidding technique, but when the guy he was egging on to bid more realized it, the auctioneer tried to pin the winning bid on another farmer, and he failed.  The auctioneer had to buy the tractor.  Let's just say his reputation preceeded him from that day on.

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Advisor

Re: Aucttion values

Not really spite but, last summer i was bidding on a farm at a public auction and the guy beside me (an acquaintence) raised me $100/acre on 160 . So my next bid, and the high bid for that individual tract was 200 higher. He thought it was funny and I didn't let on that i was irritated. Could have potentially cost me $32000 ($200/acre x 160) but the farm sold as a half section to someone else later instead of the 2 quarters offered earlier. Oh don, that was hancock co. tho. In my younger days, I used to buy feeder calves at the algona sale barn. the owner was an honest guy, but there was a local auctioneer that worked the ring and he would get me to bid against myself every time. I'm sure he saw me and thought he would have some fun with this wet behind the ears kid. to this day i consider him the south end of a north facing horse.

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Senior Contributor

Re: Aucttion values

I never really felt run up at an auction. I just bid until my limit is hit, then quit. Either I get it or not, but sure don't feel like I payed too much because so-in-so ran me up.

I did stop bidding one time, and the auctioneer got a raise then tried me again, and I shook my head NO. He then cried and cried for a few minutes, then said they needed to back up and start again, and wondered if I would renew my previous high bid. I did, and he said sold. So, maybe I was run up on that item, but I got it for my maximum limit, so I was happy.

When these cry babies go into a car dealership and try and buy a pick-up, who do they think is running them up on the price?

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Honored Advisor

Re: Aucttion values

I bought a quarter once at aucttion.  Man says sold and anounces me as buyer.

When sale was over, crowd leaving, auctioneer came to me and said "the family wants $35/acre more or they are going to no sale it".

 

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Honored Advisor

Re: Aucttion values

This whole discussion reminds me of a tendency I've witnessed more times that I can count.  There are women who will throw away a perfectly good husband, for no really significant reason; but, don't want anyone else to have him, either. 

 

There are just people whose maturity is arrested at that level...not so much that they want something, but they don't want someone else to have it, either. 

 

I have always made it a policy to walk and look at items before an auction, and talk to other people about what's set out for sale that day.  If I go out for a piece that I really need or want, then my desires are as valid as the next bidder's.  If it's a less important priority to me, I won't bid against someone who's really hoping to get something.  Have passed up some really good buys that way, but haven't missed them.

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Senior Advisor

Re: Aucttion values

One time at a horse sale in  Eagle grove a father and son were bidding on the same horse back in the  hey day of small horses. The auctioneer stopped his cahnt and asked Bertie if he knew he was bidding against his son wally.

 

Bertie responded that if wally wants the horse wally would buy it.

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