Lippard Auction has several tool/equipment auctions near Oklahoma City, can good deals be had?
Auctions good or bad?
- Thread starter 930dreamer
- Start date
Richard Cranium
Well-known member
As long as you don't get auction fever, Last weekend they had their first spring auction, people was paying way too much. Too many people has been indoors too long
dr_clyde
Well-known member
I love live auctions. Online ones aren't near as fun.
TheCraneGuy
Well-known member
I don’t mind online, but you need to do your homework on the item you want, if there is a buyer’s premium, and if you want it shipped or are you going to pick it up. I have passed on some things because I don’t want to pay a huge amount for shipping and don’t want to drive all day to get it.
slackdaddy1
Well-known member
I quit going to auctions years ago (Horse, house, tool, equipment, etc),, 99% of the stuff goes for what new would be. There seams to be an endless supply of idiots.
This. Most of the time. One must then factor in all the time, travel and effort in order to find out whether you might be the one to win the uncommon exceptions to this rule.
crewchief888
Well-known member
ive been to a few auctions over the years.
in this area, seems like there's people with more more money than sense...
small items seem to go for sky high pricing, large stuff, mainly farm equipment, seems to go fairly cheap
i assume it's mostly "flippers" trying to make a killing on a quick resale....
in this area, seems like there's people with more more money than sense...
small items seem to go for sky high pricing, large stuff, mainly farm equipment, seems to go fairly cheap
i assume it's mostly "flippers" trying to make a killing on a quick resale....
If you place a $$ value on your time auctions are often a waste of it. Your best bet at finding deals is the specialty stuff no one needs. If its a generic tool that everyone wants or knows what it is it will often bring crazy high prices.
If it's a hobby of sorts go for it. I kinda feel the same way about yard sales- if it's a hobby that's fine. I don't particularly enjoy it, I'll buy new and spend the few hours doing something I want.
If it's a hobby of sorts go for it. I kinda feel the same way about yard sales- if it's a hobby that's fine. I don't particularly enjoy it, I'll buy new and spend the few hours doing something I want.
matt_i
Well-known member
Also to add, if you are buying machinery that's not rolling stock and can't be carried off, make sure you are in touch with the riggers who are usually there at inspection-day to get a verbal estimate.
When they tell you $700 to forklift a Bridgeport mill and set it on your trailer, about a 50' drive across all-level concrete which might occupy 10 minutes of their time if they were distracted, its something that has to be integrated into the overall cost.
I was going to bid on a bridge crane once upon a time, a nice size and 3ton capacity, on inspection-day the riggers quoted me $7k to remove it, so for kicks and grins I also asked about the Bpt. I didn't even bother attending the auction.
Typically you will be prohibited from self-rigging unless you can demonstrate $1-2M insurance and sometimes a bond, possibly written approval from the company who owns the assets. Just enough trouble that its not worth your while & side expense unless you are buying a significant portion of the whole factory.
On the other hand there can be auctions where maintenance people who work at the plant rig for no charge. This is a general financial positive, but its easy to find people who can drive the forklift but understand zero about how to handle the machine and damage your stuff with no recourse.
There are a lot of pitfalls
When they tell you $700 to forklift a Bridgeport mill and set it on your trailer, about a 50' drive across all-level concrete which might occupy 10 minutes of their time if they were distracted, its something that has to be integrated into the overall cost.
I was going to bid on a bridge crane once upon a time, a nice size and 3ton capacity, on inspection-day the riggers quoted me $7k to remove it, so for kicks and grins I also asked about the Bpt. I didn't even bother attending the auction.
Typically you will be prohibited from self-rigging unless you can demonstrate $1-2M insurance and sometimes a bond, possibly written approval from the company who owns the assets. Just enough trouble that its not worth your while & side expense unless you are buying a significant portion of the whole factory.
On the other hand there can be auctions where maintenance people who work at the plant rig for no charge. This is a general financial positive, but its easy to find people who can drive the forklift but understand zero about how to handle the machine and damage your stuff with no recourse.
There are a lot of pitfalls
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Jazz1
Well-known member
The few I go to all I do is bid the price up it, another bidder will always pay way more. Last one I bid on a bicycle,,,buyer payed over MRSP
alexb2000
Well-known member
The best auctions IMO are the local live auctions you find on Craigslist. Big auctions have too many buyers who will overpay just so their time isn't wasted by going home empty. Online all have time extensions, so there is little heat of the moment action and more wearing out the other bidders.
The rigging cost comment is spot on and a good thing to watch out for. The other is sometimes there are huge buyer fees that bidders forget about when they are raising their hands.
I will NEVER understand people buying classic cars at large auctions, limited inspection, no test drive, as is where is, buyers fees, etc. Zero advantages for the buyer vs. in person.
The rigging cost comment is spot on and a good thing to watch out for. The other is sometimes there are huge buyer fees that bidders forget about when they are raising their hands.
I will NEVER understand people buying classic cars at large auctions, limited inspection, no test drive, as is where is, buyers fees, etc. Zero advantages for the buyer vs. in person.
velillen01
Well-known member
Ive been to a couple local ones. One was a school maintenance department, one was a auto shop closing, and then just the local place that does them every month. I didnt need anything but just went with a friend. Didnt buy anything at the auction as the prices just got way to high to really be a deal.
But the friend wanted a tire machine so after the auction he went up to the guy who had won that lot of stuff and offered him cash for it and got it that way. The guy bought the lot with no use for any of the stuff and was a "in the moment" bid. I know my friend does that quite a bit....goes up after the auctions and offers cash for what he wanted and usually ends up getting it
But the friend wanted a tire machine so after the auction he went up to the guy who had won that lot of stuff and offered him cash for it and got it that way. The guy bought the lot with no use for any of the stuff and was a "in the moment" bid. I know my friend does that quite a bit....goes up after the auctions and offers cash for what he wanted and usually ends up getting it
pcmeiners
Well-known member
"The rigging cost comment is spot on and a good thing to watch out for. "
The other type of "rigging" is another thing to watch for. In the NYC area some online auctions are bid up by the auctioneers.
The other type of "rigging" is another thing to watch for. In the NYC area some online auctions are bid up by the auctioneers.
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Zebu Fellenz
Well-known member
Auctions can be great, auctions can be terrible.
Deals can definitely be had but you need to pay attention.
Make sure you understand the terms of the sale, 10% buyers premium is pretty common, sometimes an extra 3% is added for credit card payment, also remember to figure taxes into your bid. Easy to bid too much if you forget to add the ~20% that you'll pay at checkout.
Show up early to inspect equipment you're interested in. If you can't verify that it works bid expecting that it won't (especially if it's a consignment sale).
And do your research before the auction, know what things are worth, you don't want to be the guy that bids $200 on a widget that sells for $150 new!
Deals can definitely be had but you need to pay attention.
Make sure you understand the terms of the sale, 10% buyers premium is pretty common, sometimes an extra 3% is added for credit card payment, also remember to figure taxes into your bid. Easy to bid too much if you forget to add the ~20% that you'll pay at checkout.
Show up early to inspect equipment you're interested in. If you can't verify that it works bid expecting that it won't (especially if it's a consignment sale).
And do your research before the auction, know what things are worth, you don't want to be the guy that bids $200 on a widget that sells for $150 new!
Knotgoalie
Well-known member
I was in the antiques trade for about ten years and auctions could go either way for me. I had my limits as to what I would spend with resale foremost in mind and sometimes it worked against me. I became known over the years as a dealer and if I bid, then other folks did as well. Often this led to them paying far more than they should have but hey, if they want it that badly...
My wife once won a particular lot that another woman wanted. The woman demanded that m'dear sell it all to her in the parking lot while I loaded the truck! Some people's kids???
My wife once won a particular lot that another woman wanted. The woman demanded that m'dear sell it all to her in the parking lot while I loaded the truck! Some people's kids???
Professional Tool User
Well-known member
In my experience, auctions are a waste of time. Half the time you're not much better off than buying the item new and you've got auction fees to worry about. I've been able to get much better pricing through Craigslist ads and haggling.
speed bump
Well-known member
I rarely buy things I intend to buy at auctions. I often end up with things that went cheap because they weren't what everyone was there to buy though.
Specs
Well-known member
That cabin fever is responsible for about every mistake you’re gonna undo when the good temps come around lol
... at least for me
Auctions and estate liquidations are where its at, beware of the “Collectors” that will fuel that fever... they pros
davethorik
Well-known member
If there are any Amish in attendance, just leave. They will win what they are there to get. They do not have budgets. You will be outbid. You have been warned.
You big city guys, and I think West coasters in general, probably don't have to deal with this, just the more rural areas in the East...OH and PA crawling with them. Not uncommon for Amish to buy everything at a farm auction. Dealers hoist the white flag. Average Joes don't stand a chance.
It can go the other way, though- the Amish won't buy things like electronics, electric tools, and "English bourgeois" collectibles such as anything classifiable as garage art. They also won't bid on classic cars, motorcycles, anything to do with alcohol or tobacco, and I'm sure there are other exceptions that do not show up on their radar.
I was able to get a large assortment of vintage Ohio license plates for dirt cheap at one farm auction. I think I was the only English that didn't walk out empty handed.
You big city guys, and I think West coasters in general, probably don't have to deal with this, just the more rural areas in the East...OH and PA crawling with them. Not uncommon for Amish to buy everything at a farm auction. Dealers hoist the white flag. Average Joes don't stand a chance.
It can go the other way, though- the Amish won't buy things like electronics, electric tools, and "English bourgeois" collectibles such as anything classifiable as garage art. They also won't bid on classic cars, motorcycles, anything to do with alcohol or tobacco, and I'm sure there are other exceptions that do not show up on their radar.
I was able to get a large assortment of vintage Ohio license plates for dirt cheap at one farm auction. I think I was the only English that didn't walk out empty handed.
Knotgoalie
Well-known member
I've gotten some great deals at auctions, but you have to set a hard limit on what you are willing to pay for an item before bidding starts. You don't want to get 'auction fever' as several already said.
I bought a 2001 F-250 diesel Supercab a couple of years ago for half of blue book. It's still running great. Recently I bought a Kennedy tool box stack full of machinitst's tools for less than I see the boxes go for on Ebay. I got a pressure washer for ONE DOLLAR last year. I use it all the time; works great.
I bought a 2001 F-250 diesel Supercab a couple of years ago for half of blue book. It's still running great. Recently I bought a Kennedy tool box stack full of machinitst's tools for less than I see the boxes go for on Ebay. I got a pressure washer for ONE DOLLAR last year. I use it all the time; works great.
crewchief888
Well-known member
i havent been to many auctions, but the only time i did buy anything was at the 1st auction i went to.
my uncle had passe away and my aunt decided to get rid of all the junk that was left in the garage/barn.
the "good stuff" he had was already picked over by local relatives, and there was was just "junk" left over.
i bought a couple lots of old worn out, rusty tools, that nobody else wanted..
i figured $5 was better than my elderly aunt having to pay someone to get rid of the stuff.
another cousin of mine was doing the same thing, we'd wait and see if anyone else was bidding, then outbid each other a couple times, until one of us said NO.
nobody in town, except our close relatives, knew who we were, and why we were buying boxes of scrap/****.
i did get a couple mementos of my uncle, one being a fly rod that you could tell he actually fished a LOT with. there were 2 of the identical rod/reels, i chose the most used....
after the auction the auctioneer pulled me aside and questioned my choice...
i responded "it belonged to my uncle, just wanted something to remember him by" the lightbulb went off in his head, and said " you must be Gene's boy, i can see it in your eyes, take away the beard and long hair you look just like yer dad."
for about 30 minutes he grabbed everyone that he could and said "ya'll know who this is. it's Gene's boy, Oscars nephew"
every auction ive been to since, guys get into bidding wars, stuff is sold at retail, or above retail prices, CL is mostly the same way around here. tools/equipment that need repairs, or just "doesnt work needs ** part and it'll be perfect"
most of the time i'd rather buy new, that i KNOW works, if it doesnt i can return/warranty it. i have some some good deals at the local pawnshops, but i gotta keep looking...
my uncle had passe away and my aunt decided to get rid of all the junk that was left in the garage/barn.
the "good stuff" he had was already picked over by local relatives, and there was was just "junk" left over.
i bought a couple lots of old worn out, rusty tools, that nobody else wanted..
i figured $5 was better than my elderly aunt having to pay someone to get rid of the stuff.
another cousin of mine was doing the same thing, we'd wait and see if anyone else was bidding, then outbid each other a couple times, until one of us said NO.
nobody in town, except our close relatives, knew who we were, and why we were buying boxes of scrap/****.
i did get a couple mementos of my uncle, one being a fly rod that you could tell he actually fished a LOT with. there were 2 of the identical rod/reels, i chose the most used....
after the auction the auctioneer pulled me aside and questioned my choice...
i responded "it belonged to my uncle, just wanted something to remember him by" the lightbulb went off in his head, and said " you must be Gene's boy, i can see it in your eyes, take away the beard and long hair you look just like yer dad."
for about 30 minutes he grabbed everyone that he could and said "ya'll know who this is. it's Gene's boy, Oscars nephew"
every auction ive been to since, guys get into bidding wars, stuff is sold at retail, or above retail prices, CL is mostly the same way around here. tools/equipment that need repairs, or just "doesnt work needs ** part and it'll be perfect"
most of the time i'd rather buy new, that i KNOW works, if it doesnt i can return/warranty it. i have some some good deals at the local pawnshops, but i gotta keep looking...
I live in Mennonite country and I know how to play the game!
Yup, like having Lots of patience, since they will be bidding against each other, for 5 minutes to sell off one $3 box of junk.
Here, if an sale is in Amish country, they come by the hundreds, to what is an unusual social event and have to show each other, how shrewd of businessman they are.
Selling one plot of farmland is easily a 45 minute grind, while the rest of the auction stops.
I like the Amish, but not at auctions, thankfully, they are interested in stuff I am not.
Empty Pockets
Well-known member
I love auctions, especially estate auctions. You can do quite well, as long as you know your prices and don't get auction fever.
I go to auctions some times. Seems like the only time I get a good deal is if it's something that wasn't advertized. Like one I went to, I wanted a vintage stereo they had advertized. It went for crazy money. More than I could ever flip it for post-restoration, and it was untested!
But they did have some tools that weren't in the ad. I hung around and bit. I got a Craftsman band saw, a no-name bench grinder, a brand new set of large Craftsman wrenches, and a knock-off electric guitar all for about $40-ish.
But they did have some tools that weren't in the ad. I hung around and bit. I got a Craftsman band saw, a no-name bench grinder, a brand new set of large Craftsman wrenches, and a knock-off electric guitar all for about $40-ish.
Farmall 1066
Well-known member
Starting to see some Amish filter into our area.
At most farm sales they're all out behind the machine sheds, smoking store bought cigarettes and ******* around on their smartphones.
When they do bid, they are serious.
Got more good deals than I can recall at auctions, and they are a social event, as well.
At most farm sales they're all out behind the machine sheds, smoking store bought cigarettes and ******* around on their smartphones.
When they do bid, they are serious.
Got more good deals than I can recall at auctions, and they are a social event, as well.
OP
seber
Well-known member
I love auctions and consider it entertainment. There are always a few deals to be had but if you consider your time valuable and not just having fun then you will be losing almost every time. I used to do about 15 or 20 per year before I moved to Texas and maybe once every two or three years I would hit it big and turn something for hundreds of dollars profit. Then again I also spend huge amounts of time searching Ebay and becoming familiar with prices on odd things.
Michael_in_DE
Well-known member
Yep, this.
Deals at Auctions are far and few between I have found. I wouldn't bother unless there is something very specific there that you want, and don't mind paying a lot for.
The best deals I got were towards the end of the auction when most have left and the auctioneer is tired and ready to be done, he starts lower and lets you have things faster.
The funniest thing I see at EVERY auction I go to: 30 guys standing around staring at the auctioneer....2-4 guys bidding the whole time. I swear most are there for a show.
bimmer1980
Well-known member
Can you post a few more pics of the shear?? It looks similar to a shear that I bought a number of years ago... I use mine quite frequently.... I paid $175 on craigslist and it was definitely worth it.
OP
I just have the pics from the auction, will post better pics when I pick it up.
bimmer1980
Well-known member
Ok, cool. It looks like a rare one... I could not find that model online in any of the Pexto catalogs.. Mine is a model 241 that looks similar. It is capable of shearing 12 gauge....
bimmer1980
Well-known member
In regards to auctions, I have gotten a few deals, but I have not been to one for quite some time..... The Amish seem to have no limit on what they will spend......
I was in the market for a mortar mixer and got one at a large trade school auction. They had multiple auctioneers working that one. Luckily, there were two mixers there. It came down to only me and another guy that were interested in the mixers. He bought the first one that was gas powered, and I bought the second one that was electric. I was pleased to spend the $250 for it.
At that same auction I bought a Roper Whitney box and pan brake....
I was to a previous masonry company auction and they had beat to **** mixers going for $300 to 500...... I passed on buying.....
I was in the market for a mortar mixer and got one at a large trade school auction. They had multiple auctioneers working that one. Luckily, there were two mixers there. It came down to only me and another guy that were interested in the mixers. He bought the first one that was gas powered, and I bought the second one that was electric. I was pleased to spend the $250 for it.
At that same auction I bought a Roper Whitney box and pan brake....
I was to a previous masonry company auction and they had beat to **** mixers going for $300 to 500...... I passed on buying.....
pennsylvaniaboy
Well-known member
- Joined
- May 28, 2014
- Messages
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Meh, I love auctions, esp if they are during the week. I have gotten some insane deals, even been bit by the fun and gotten some stuff cause it was so cheap, why not.
I'm a fan.
I'm a fan.
Maui
Well-known member
I'll be attending an auction this weekend where they are selling the home and land in addition to the contents. There are quite a few items I am interested in, and it should be fun.
Maui
Maui
bimmer1980
Well-known member
They're fine if you know when to stop, I always seem to pay too much for an item I want. Last weekend I shelled out a hundred bucks for this bench....
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I don't think you could build that weld table for a $100...... Looks like a nicely built table.
OP
We picked everything up but the shear, couldn't even move it and no way the wife was going to pick half the weight up. Will need to go back.
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OP
When do you find out if you won an absentee bid?