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Senior Contributor

Re: Floor Talk, March 29, 2018, (Report Day)

I was on phone with a bidder from auction company for me. It was supposed to be online and open cry but hawker called before it ever showed on bidcaller stating bid was at 12.5k when I answered. then it never showed on bidcaller. I had set up to bid by phone but will not ever do that again.
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Veteran Advisor

Re: Floor Talk, March 29, 2018, (Report Day)

Thoughts on purple wave ?

Like your ideas 90....but...what about unloading
It ?
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Honored Advisor

Re: Floor Talk, March 29, 2018, (Report Day)

The phone auction is common out here.... we have one that has made a lot of $$$$ with ,,,,,s  selling land on phone auctions...  

He will tell you anything and nothing..... all he needs is one or two high dollar guys in your half of the state on speed dial.  It is criminal.

 

My son was last bid on land on a phone auction..... final sale date was August.... they claimed to have others bidding for 40 days after the auction date.  He was told he had the last bid.   Auctioneer 40 days after that stopped answering his phone...... they were not pleased with the final bid on another property in the same sale.  Finally in January the auctioneer called him and told him he thought the owners were going to "no sale" the whole thing.  Son asked for a bidders list and never got it.  And never herd from the auctioneer again.

It is very slimy but in Ks no one enforces amy laws when it comes to auctions.   

 

I had one 20 years ago that I was at a public land auction and got the bid..... went up to sign papers and give required payment.  The auctioneer told me that the owner was going to no sale the land If it didn't bring $30 an acre more.    After  he had publicly declared me the new owner.  I knew I would loose the property if I didn't pay it so I did.  And legally filing charges on the auctioneer wasn't going to be worth anything.  Either way they could call it a "no sale" and resell it with another auctioneer.

 

It is a very slimy game.

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Honored Advisor

Re: Floor Talk, March 29, 2018, (Report Day)

I bought a planter over the phone at an auction several years ago.  It was live bidding.  I was just hoping that there was really someone actually bidding at the auction every time they raised the bid to me and not the auctioneer just making up the bids.  Smiley Wink

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Senior Contributor

Re: Floor Talk, March 29, 2018, (Report Day)

Fact is absolute should mean just that. Not auction employees bidding up to reserve!
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Senior Contributor

Re: Floor Talk, March 29, 2018, (Report Day)

Roarintiger that's what happened to me.
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Senior Contributor

Re: Floor Talk, March 29, 2018, (Report Day)

Elcheapo the point I was making is that you get get a lot of equity at purchase, not become an equipment dealer unless you have to.
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Senior Contributor

Re: Floor Talk, March 29, 2018, (Report Day)

Never used purplewave. Really don't like online auctions I have used in housing but try to stay in person. Definitely won't do another on phone.
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