Auction versus private owned

[pseag]

There is a fairly large auction coming up later in the month. I'm thinking of going to see what they have in the line of small equipment and tools. What are your thoughts on buying from an auction versus buying from an individual?

 

[RichZ]

I love auctions, and have bought a lot of equipment from auctions, including tractors. Make sure you check out the equipment very well. If you're not very mechanical, bring someone who is, with you, if you can. Go to the viewing before the auction and figure out what the piece of equipment is worth to you. Have that number in mind and DO NOT bid above that number. It's really easy to get caught up in the bidding and think to yourself, "Well, just one more bid". One bid can become a bunch of bids and you end up paying too much. I've never had a problem with anything that I've bought at auctions, and I usually get it for a better price than I could have buying it privately. Hopefully, you have several options to bid on, if the auction is big enough.

Good luck, and let us know how you do.

 

[BarkerB]

I've purchased many tools and lumber from an auction. I always go the night before (I'm not sure all auctions allow that) and scope things out. They let you plug power tools in to see how they work. We are heading to one in a few weeks. I am looking for an ATV. I hope to find a decent one there.

 

[Gordyg]

I love auctions too. We go to two big tool/equipment auctions each year. We also go to a flower/plant auction in the spring. I see nothing wrong with buying items at either.

 

[RanchHouse]

I agree with @RichZ about checking the equipment prior and determining how much you're willing to spend. I have bought lots of equipment through auctions. The bidding process is an exciting experience!

 

[JuNgLeQyN41]

Do any one have an idea of large farm investment outside the states and Europe?