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...
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.