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Honored Advisor

TID BITS

How to market used iron?

 

Went to a consignment sale today. Took two times,as long as it should have to no sale a short half of the entire sale.

The one and two year old type stuff only half sold. Nice sized crowd. I thought the auctioneer tried, did he best he could, easy to understand, was looking for blood in a turnip patch.

 

Most of the bigger items no saled. Some sellers made a mistake not selling their medium priced older equip.

 

Many thought no one had any money, my opinion is the ones with money aren't in a hurry.

 

The ones at the sale with a bank roll had all participated in the eighties, not one of them are interested in being at risk of asking a banker for anything but for his best interest on savings.

 

Might be a long, long fall and winter for a few. The buzzards are circling...

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2 Replies
Honored Advisor

Re: TID BITS

Consignment sales I`ve been to kind of harken back to the 80`s, a lot of augers and duals.  When times are good, farmers must buy a surplus of augers and then when times get tough, they sell the extra 5 or 6 of `em for "beer money".   And boats...I suppose after sitting all summer at the end of the driveway with a "$2,000 obo" sign, they pull it to the sale where the true value of $150 is discovered.

 

A lot of this machinery goes all over the country, during bidding, the auctioneer might say "the internet is in" and when it sells he says "it`s going to Georgia!" or "it`s going to Michigan".   What I noticed is old 220 beanheads that I`ve bought for $200, $300.  Now bring $1500 and guess where they`re going?.....To Mexico!  The sale I went to had 6, 8 of `em and I think every one went to Mexico. 

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Senior Advisor

Re: TID BITS

IS  there a  ''' tariff   charge '''  on  used  bean  heads  crossing  to  the  south  side  of  the  Rio Grande  ? 

 

 

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