Announcement

Collapse
No announcement yet.

CDN Members: Interesting Oakville Auction 9/23

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • CDN Members: Interesting Oakville Auction 9/23

    Infinity is conducting an auction of Advanced Metal Systems in Oakville, Ont
    on 9/23.

    While you may not be able to fit an '02 HAAS VF6B/40 VMC into the garage,
    the FREJOTH, CHEVALIER or DELTA surface grinders might be of interest.

    Likewise with the FIRST or MAXIMART 9" x 42" mills.

    .

  • #2
    Originally posted by EddyCurr
    Infinity is conducting an auction of Advanced Metal Systems in Oakville, Ont
    on 9/23.

    While you may not be able to fit an '02 HAAS VF6B/40 VMC into the garage,
    the FREJOTH, CHEVALIER or DELTA surface grinders might be of interest.

    Likewise with the FIRST or MAXIMART 9" x 42" mills.

    .
    Auctions like this seemingly happen every week in this market....not sure whats special about this one?

    Auction companies here do everything they can to thwart interest - 15-20% premiums (lets piss off 200 buyers instead of 1 vendor) and some have taken to charging admission! I'd guess its no different than elsewhere. The other trend is many are part of high interest rate asset based lending groups - the 20% loan to own program. Some will have schills if its going to cheap, keep in house and drag it out to next weeks auction.

    There are deals, but i think you have to be a regular attendee to count on it
    .

    Comment


    • #3
      In this instance, the on-site buyer's premium is quoted at 13.5%.
      Several of the auctioneers in my region have bumped buyer fees up
      to 15%, some are still at 10%. I just factor the fee into what I am
      prepared to pay.

      There in the heartland, you folks get more frequent opportunities to
      buy newish quality equipment. I imagine this tends to be reflected
      in the hammer prices, too.

      When supply outstrips demand so much that people get complacent
      about the discount off replacement price that good used equipment
      sells for, that's when I'd like to be in a position to buy.

      .

      Comment


      • #4
        Originally posted by EddyCurr
        In this instance, the on-site buyer's premium is quoted at 13.5%.
        Several of the auctioneers in my region have bumped buyer fees up
        to 15%, some are still at 10%. I just factor the fee into what I am
        prepared to pay.

        There in the heartland, you folks get more frequent opportunities to
        buy newish quality equipment. I imagine this tends to be reflected
        in the hammer prices, too.

        When supply outstrips demand so much that people get complacent
        about the discount off replacement price that good used equipment
        sells for, that's when I'd like to be in a position to buy.

        .

        Same here...any bid I submit is deducted by the bidder premium.

        They can jack the bidder premium to 99%...and I will still factor it into the final bid.

        As for charging addmission....I will go to any auctioneer's auction once...and if I don't get anything of significance I am done with him.

        TMT

        Comment


        • #5
          Originally posted by EddyCurr
          Several of the auctioneers in my region have bumped buyer fees up
          to 15%, some are still at 10%. I just factor the fee into what I am
          prepared to pay.

          .
          of course, but its still ass backward charging the market instead of the vendor...its not like the vendor is ignorant of this cost in the system. What they should be doing is promoting to Vendors how they can draw more buyers and fetch higher prices than the next guy; I mean that's the only point of difference between one auction house and another, right? So instead they charge a buyer premium,. admission...some even take a charge of your credit card! These are all actions conflicting with their core offering; bring in a lot of good buyers and maximize price.

          The total load, as well as being insulting/irritating, has kept me away from several auctions where i otherwise would have attended and in all likelihood spent money....which is what their marketing strategy should be doing...instead it elicits a more negative response.

          i still don't see anything special about this one.
          .

          Comment


          • #6
            Originally posted by Too_Many_Tools
            As for charging addmission....I will go to any auctioneer's auction once
            TMT
            Sure you do.
            .

            Comment


            • #7
              Originally posted by Mcgyver
              of course, but its still ass backward charging the market instead of the vendor...its not like the vendor is ignorant of this cost in the system. What they should be doing is promoting to Vendors how they can draw more buyers and fetch higher prices than the next guy; I mean that's the only point of difference between one auction house and another, right? So instead they charge a buyer premium,. admission...some even take a charge of your credit card! These are all actions conflicting with their core offering; bring in a lot of good buyers and maximize price.

              The total load, as well as being insulting/irritating, has kept me away from several auctions where i otherwise would have attended and in all likelihood spent money....which is what their marketing strategy should be doing...instead it elicits a more negative response.

              i still don't see anything special about this one.
              The OP has a financial interest in it. ;<)

              TMT

              Comment


              • #8
                Originally posted by Mcgyver
                Sure you do.
                And the reason you say that is?

                TMT

                Comment


                • #9
                  Originally posted by Too_Many_Tools
                  And the reason you say that is?

                  TMT
                  What were the last 10 auctions you went to and what did you buy?

                  just my ongoing chiding that until you bless us with pics of your massive amount of tools ....or even participate in a technical discussion... the only sane view is that you're completely full of it. How are the eight trailers coming you were going to build this year lol
                  .

                  Comment


                  • #10
                    Originally posted by Too_Many_Tools
                    Originally posted by Mcgyver
                    I still don't see anything special about this one.
                    The OP has a financial interest in it. ;<)

                    TMT
                    Improbable, considering the auction site is on the west end of Lake Ontario
                    while I am situated a few hundred miles east of the Rockies.

                    To help put things into perspective geographically for TMT, this is equivalent
                    to the sale being in Pittsburgh, PA and me being in Twin Falls, ID.

                    .

                    Comment


                    • #11
                      Mcgyver, if not auctions, what venues do you favour ?

                      .

                      Comment


                      • #12
                        Originally posted by EddyCurr
                        Mcgyver, if not auctions, what venues do you favour ?

                        .

                        Eddy I'm just taking the opportunity to do some good old fashioned whining.... how they currently work....and making the comment that their structures keep, imo, people away which if correct is bad business.

                        I tend to go for kijiji, craiglist, ebay and a networking....partially convenience/time, partially that auctions do so much to irritate buyers (which i think is a losing strategy)

                        being in the digital age, it would be interesting to see it would be possible to bring market pressure to bear; say pick an auction and boycott it along with a thousand emails saying we're boycotting the fee structure. Count me in, just tell me what auction to stay away from . Probably you know what in the wind, it must be bigger fish, dealers etc that drive the buy side...any auction insiders know what the buyer breakdown is? ?
                        .

                        Comment


                        • #13
                          Originally posted by Mcgyver
                          What were the last 10 auctions you went to and what did you buy?

                          just my ongoing chiding that until you bless us with pics of your massive amount of tools ....or even participate in a technical discussion... the only sane view is that you're completely full of it. How are the eight trailers coming you were going to build this year lol

                          LOL...jealousy is never a pretty sight.

                          Have you paid your membership fees to my fan club yet?

                          TMT

                          Comment


                          • #14
                            Originally posted by EddyCurr
                            Improbable, considering the auction site is on the west end of Lake Ontario
                            while I am situated a few hundred miles east of the Rockies.

                            To help put things into perspective geographically for TMT, this is equivalent
                            to the sale being in Pittsburgh, PA and me being in Twin Falls, ID.

                            .
                            I say that because of this previous post...

                            http://bbs.homeshopmachinist.net/showthread.php?t=42428

                            If I am in error, then accept my apology.

                            TMT

                            Comment


                            • #15
                              Originally posted by Too_Many_Tools
                              LOL...jealousy is never a pretty sight.

                              Have you paid your membership fees to my fan club yet?

                              TMT
                              TMT, you're my favorite. It just pains to see such a great man and machinist mistaken for such a blowhard in front of the global community. Please help me to help you, and give even the tiniest shred of evidence that have a machine any knowledge of machining.

                              You're fond of questions, won't you answer mine? what about the eight trailers you planned to make this year? how are they going? can you share some pics? have you taken any pics of them?

                              You respond, but refuse to answer the question? why? Don't you think its rude of you to keep asking others to answer questions but you won't respond to questions?

                              enough. a waste of time
                              .

                              Comment

                              Working...
                              X