Large Machine Tool Auction

[BigBoy1]

There will be a large machine tool auction in central Wisconsin if any one interested. It will take place on 15 Nov.

https://www.bidspotter.com/en-us/auc...-b10015?page=4

[Toolguy]

Apparently those cataloging things don't know much about the trade. Not good for the bidders, in some cases they may not quite know what they are bidding on.

[JoeLee]

Buyers Premium: 22.00% Tax on hammer: 5.00% + shipping and what ever else they can grab you for....... no thanks.

JL..............

[SteveF]

Don't forget:

8B: Goods weighing more than 100 pounds must be removed by a qualified, insured rigger.


Steve

[Mcgyver]

Don't forget:

8B: Goods weighing more than 100 pounds must be removed by a qualified, insured rigger.


Steve

and most of them insist you use their company to get it out of the building.......the fees they charge are more like rape than rates.....and 22%? wow. I suppose people still show up.......but not this guy.

[DR]

Apparently those cataloging things don't know much about the trade. Not good for the bidders, in some cases they may not quite know what they are bidding on.

This is something that I've wondered about since day-one of my auction attending. It even happens with the outfits that specialize in machines and machine tooling. Makes you wonder, huh?

Then there's also the issue of separating tooling from the machines it goes with. Not so much selling the tooling separately, but no effort to keep the two in proximity. Many times parts of an accessory are divided into separate lots such that it's not good without both halves.

There's also an issue with large shop live auctions. You get these out of town big spending guys (usually fat for some reason) who don't appear to know much about what they're bidding on, only that someone has told them to buy such and such machine. They have the habit of buying all small lots within a certain radius of "their" machine even though the lots have nothing to do with the machine they bought.

[JoeLee]

and most of them insist you use their company to get it out of the building.......the fees they charge are more like rape than rates.....and 22%? wow. I suppose people still show up.......but not this guy.

That's right and with all the BS rules and added expenses the owner of all this stuff is the one that gets screwed because everything will go for next to nothing. Buyers always factor in the additional expenses when it comes to bidding.

JL...................

[J Tiers]

You reckon there is a connection between the following statements?

...

Then there's also the issue of separating tooling from the machines it goes with. Not so much selling the tooling separately, but no effort to keep the two in proximity. Many times parts of an accessory are divided into separate lots such that it's not good without both halves.

and

There's also an issue with large shop live auctions. You get these out of town big spending guys (usually fat for some reason) who don't appear to know much about what they're bidding on, only that someone has told them to buy such and such machine.

With

They have the habit of buying all small lots within a certain radius of "their" machine even though the lots have nothing to do with the machine they bought.

[Mcgyver]

That's right and with all the BS rules and added expenses the owner of all this stuff is the one that gets screwed because everything will go for next to nothing. Buyers always factor in the additional expenses when it comes to bidding...

you're right, and the unfortunate owner is usually in some sort of insolvency situation so he doesn't have control......the auctioneers and the receivers try to take everything, two unsavory peas in the same pod. I had a receiver tell me once "we like to suck on the teat until the mother and child are dead". They'll have CA's answering the phones if they think there enough bounty to collect on. Reprehensible.

[bborr01]

you're right, and the unfortunate owner is usually in some sort of insolvency situation so he doesn't have control......the auctioneers and the receivers try to take everything, two unsavory peas in the same pod. I had a receiver tell me once "we like to suck on the teat until the mother and child are dead". They'll have CA's answering the phones if they think there enough bounty to collect on. Reprehensible.

CA's?

[Mcgyver]

CA's?

Chartered Accountants. As CA bills out at a high rate, you wouldn't have them doing menial tasks unless you were trying to pad the bill. A receiver might load up with as many bodies at high rates as he could get away with. As their fees get paid first, there is little motivation to make anyone happy except the courts and the primary secured lenders (usually a bank and will cry foul if they are....so they are quite happy to chew through the proceeds of liquidation leaving nothing for the unsecured creditors.

[John Stevenson]

By the time you have travelled to the auction and lost a days wages, stood there on the off chance you will get something untested. They have to pay auction charges on top of this plus tax, then travel back another day to load and collect 'if' you are allowed to self load and a second days wages lost it's getting to the stage where it's uneconomical to even bother attending.

Then there are all the bits they throw in knowing you can't do anything about it unless you are prepared to feed more sharks.

Charles P who posts on here occasionally 'bought' an incomplete CVA lathe for parts, only to be told it had been withdrawn as it hadn't made enough money although there was no reserve.
He 'bought' it again at the next online clearance auction only for the same thing to happen again.

Sorry auctions are out for me, if I want something I'll advertise for it and let them run to me.

[Tundra Twin Track]

I was at a Tool&Die Machine Shop Auction just over a year ago,they had a 10% buyer fee and free loading of machinery.The milling machines sold for new price but the surface grinders&lathes all with close to new DRO sold for nothing.I stood by the 20"x80" Lion Lathe with 4-1/8" bore and they could not get a $1000 bid so the auctioneer would not sell it.After the sale the owner sold it to a guy for $1800 with 3 surface grinders and some tooling thrown in.The next day when picking some smaller Items I bought, two of the Machinist that worked there were helping load stuff said that was the Lathe that all the finishing work was done on.They both said if it was half the size they would have wanted for their own use in home garage.