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  • Auction advice????

    Dang...I still can't believe it's come to this.
    Anyway...I have no idea what I'm in store for.
    I've never had my own things auctioned off.
    I don't know....
    What do you do? Do you "interview" the auction guys?
    To see if they even have a clue what they are selling?
    Do you put reserves on things?
    Or is it best to just walk away and call them up later to find out if you got eaten alive?
    I have no clue...and there is only one auction outfit here.
    Any advice would be appreciated...if there is such a thing.
    I'm kind of glad now that the only large machine I have is my VN.
    I think the rest should generate pretty good interest...but who knows.
    Thanks!
    Russ
    I have tools I don't even know I own...

  • #2
    Only one Auction outfit doesn't help. I have been to a few, my $.02 for what it's worth. Make sure you have lots of pictures and good descriptions of what you are selling. Also, try and have it on a weekend where lots of people can come. You may think about asking for an online auction.

    Anything really heavy usually goes for less than scrap at the auctions I have attented. Good Luck and I hope things work out for you.

    Regards,
    Kevin

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    • #3
      Here is my .02 cents...

      Depends on how much time you got to sell... Obviously you will sell your stuff for alot more if you can find your own private buyer.... But if you dont have a month or two to work on it....

      You may know of someone local, or not so local, who would be interested in buying the whole kit and caboodle, while a deal for them, hopefully a better deal for you than maybe an auction.

      If you do go the auction route.. find out how much the auctioneer will advertise.. Maybe consider advertising it yourself....local papers, signs etc..

      Its all I got... when I sold all my crap, I found a retired man looking to get back in machining...I made it a good deal for him, saved me alot of time and effort in otherways...

      Comment


      • #4
        It can be a double edge sword.........I've been to lots were goldfever strikes and you can buy stuff new in town for less than whats being bid.........then theres the flipside where the guy has nice stuff and gets pennies on the dollar.

        Find out what percentage the auction company takes and if they have a buyers premium, that seems to really pi$$ off alot of people me included.......being a one horse show isn't likely to help.

        Find out what their reserve commission is, usually higher and only reserve stuff you need to, if goldfever strikes it won't matter, if it's the other you'll wish that day never started.

        Also being a business I don't know how you declared stuff on the books, you might find a 30% commission then the tax police wanting another chunk for capital assets and end up with half..........
        Opportunity knocks once, temptation leans on the doorbell.....

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        • #5
          On Line auction

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          • #6
            Russ,

            been watching your posts and am sorry for what you're going through. I've done my own walk across the desert and know it is painful.

            I think the rest should generate pretty good interest...but who knows.
            That's going to depend on who they get showing up on the day of the auction, and that's going to depend 1) how hard they work it (marketing) and 2) how big of a technical/industrial population they've got to draw upon.

            Aren't you in a fairly remote area? Selling the esoteric but valuable things we tend to collect in our shops needs a buyer who knows what the heck it is and needs one. to get a decent value at an acution, requires at least two of the above. A Yuasa collet block will fetch $150 on ebay but might not fetch $1 if no one around who knows what it is. Is it a matter of not having any time? Otherwise you might be better to sell stuff on ebay or at Practical Machinist - you'll reach WAY more qualified buyers that way I'd think.

            If you really are stuck with some court appointed auction that must liquidate by such and such a date, and you're in a rural area with minimal buyers and one auctioneer (who may or may not have a clue), grab as much valuable stuff as you can and get it to a friends so it can be sold on an orderly basis to maximize value. I volunteer for some, but it has to be smallish given i'm on the other side of the country. Doesn't have to be fraud, you could still send the money where ever its supposed to go, you'd just be buying a bit of time to get an orderly liquidation vs a forced liquidation.

            then again, if the doughs going to an ex, maybe you just want to let it go and not further complicate life
            .

            Comment


            • #7
              Well it all depends on time,if you have time try to sell it yourself.If you don't then an auction might be the best.At least with an auction you most likely won't have to move anything yourself.

              Try to find a company that is known in your area and has sold items like you have before,chances are they will have a following of people tuned to your sale items.

              Be at the sale,be availible and helpful to the bidders.Answer questions they have etc,if they ask why your selling tell them.The more helpful you are the better they will feel about turning loose of hard earned cash.
              I just need one more tool,just one!

              Comment


              • #8
                Get an auction company that has sold machinery. If your not allowed to bid on your stuff then have friends buy what you want and store it for you. Pay them later when the dust settles. Don't hang with your buyers at the auction.

                Get a list of the buyers names and addresses so you can see if you can buy back the stuff that gets away at a later date.
                It's only ink and paper

                Comment


                • #9
                  Any equipment that you believe has a certain minimum value, below which you wouldn't sell it under ordinary circumstances, should certainly have a reserve placed on it. You can always sell it later or have another auction.

                  My experience with auctions is that, if the auction company advertises properly, the items will usually bring a fair price even considering the bidders commission.

                  JMO.

                  Good luck! can only imagine what you are going through.

                  Comment


                  • #10
                    as much as this isent an advertising forum, id really love a chance at buying some things if I knew what you had and what you wanted for em, im also in the southren BC area. Drop me a PM if you arnt comfertable advertiseing in the forum..
                    Play Brutal Nature, Black Moons free to play highly realistic voxel sandbox game.

                    Comment


                    • #11
                      Originally posted by torker
                      Dang...I still can't believe it's come to this.
                      Anyway...I have no idea what I'm in store for.
                      I've never had my own things auctioned off.
                      I don't know....
                      What do you do? Do you "interview" the auction guys?
                      To see if they even have a clue what they are selling?
                      Do you put reserves on things?
                      Or is it best to just walk away and call them up later to find out if you got eaten alive?
                      I have no clue...and there is only one auction outfit here.
                      Any advice would be appreciated...if there is such a thing.
                      I'm kind of glad now that the only large machine I have is my VN.
                      I think the rest should generate pretty good interest...but who knows.
                      Thanks!
                      Russ
                      If you have to sell, sell before the end of the year.

                      Cash flow after the New Year will be at a minimum for most folks and business.

                      TMT

                      Comment


                      • #12
                        Russ , check Your in box.

                        Steve

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