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moneymgmt 02-21-2012 11:18 AM

My first country auction
My wife and I moved out of the city a month ago onto a few acres out in the country. Saw an ad for an auction this last week so I went on Sunday to check it out. Turns out it was in a subdivision, not a "country estate" as advertised. I figured maybe a few dozen people, yeah no, more like a few hundred!

I had my eyes on some stuff to bid for but I couldn't believe what people were paying for things! They had 3 of these exact organizers less than half full of random drywall screws and nails. I figured I'd go to $50 tops on the lot of them since the contents were useful. $115 they sold for!! I should have left then.

Then out comes an older 40" panasonic flatscreen tv. I had no interest but see ads all day for $500 and less, brand new. It sold for $475! Are these people watching too much tv and think they're big shooters because they're at an auction? 20+ year old Craftsmen belt sander - $45. Plastic shelving like these used, dirty, and going for $40. What is wrong with people???

Glad I stuck around though, one of the few things I wanted was an industrial pallet racking for my pole barn, picked it up for $100 and I was ready to go about double that. It was 4 hours into the auction and I think people were short on cash and any desire to disassemble and haul it!

cleanerair56 02-22-2012 01:18 PM

Are you kidding me? That's ridiculous

rusty baker 02-22-2012 03:08 PM

I see people give more than new price for stuff all the time around here. Doesn't make sense. :eek:

Ironlight 02-22-2012 03:30 PM

Auctions really get people going and get them paying more for stuff than it's worth. It's like an addiction to some people, like gambling. They can't stand the idea of losing and so keep rationalizing bidding just a little bit more. They are not the people who decide before hand what an item is worth to them and have the discipline to stop bidding when their number is exceeded.

The same thing happens on eBay..stuff goes for more than you can buy the same item new. People just go nuts.

Somewhat relatedly, there are people make a good living taking stuff on sale at Amazon and putting it up for auction on eBay. They have an Amazon membership and so don't pay shipping but charge $10 shipping for their auction. They sell "buy it now" for the same price as on Amazon, have it direct shipped to the winner, and pocket $10 for their five minutes of work.

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