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Faribault MN Auction

Mattlt

Well-known member
Joined
Nov 30, 2005
Messages
1,382
Location
MN
This Saturday. An auto shop that's selling out.


I have no affiliation to the owner or the auctioneer. I just heard about it on the radio and thought someone in the area might find it of interest.

I won't even be going - I'm going pheasant hunting instead! :thumbup:



http://www.katoinfo.com/viewnewsletterdyn.php?id=368&cid=&pid=&linky=



SHOP EQUIPMENT
Miller Matic 212 Welder – Eagle II Spot Welder – Miller AL Spool Gun – Matco Spot Weld Drill Set – Cheetah 360 II Frame Rack With Fittings – Telescopic Transmission Stand – Snap On Solus Auto Scanner – Nissan Auto Scanner – Hub Tamer Front Wheel Set - Port A Powers – Matco Roller Tool Cabinet Plus Other Tool Chests – Heavy Duty Long Arm Cherry Picker – Matco Utility Carts – Napa Engine Support – Oxy Acetylene Torch – HD 6” Vise – Ryobi 14” Cut Off Saw – Hose Crimpier Set – Bench Grinder – Matco Air Chisels and Drills – Equalizer Air & Hand Window Cutters – Auto Body Forming Set – SnapOn Rethread Set – KD Wheel Puller – Many Jaw Clamps – Radiator Testers – Like New Stihl Gas Concrete Saw – Numerous Box & Open End Wrenches – Locking Clamps – Engine Tools – Body & Frame Work Tools - Sockets – Floor Jack – 18v Dewalt Drill Set – Chain Binders – Hydraulic Jacks – Air Hoses – Halogen Lights – Body Hammers & Bars – 12v Mounted Winch – Shop Vac – Shop stools – Garage Parts & Storage Cabinets – 2 Row High Lockers – Welding Accessories – Dell Computer – Plus Numerous other Equipment Items Usual To An Auto Repair Shop.
 
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tdkkart

Well-known member
Joined
Jun 17, 2006
Messages
6,887
Location
Eastern Iowa
10% buyer's premium??

Nope, I don't pay a buyer's premium. I've walked away from many auctions for tis reason, and I'll tell them that flat out.
The auctioneer is already charging the seller, and they want more from the buyer?? F that.

Most auctioneers around here have gone away from the buyer's premium.
 

Rixter58

Well-known member
Joined
Dec 29, 2009
Messages
2,251
Location
Nowthen, Mn
10% buyer's premium??

Nope, I don't pay a buyer's premium. I've walked away from many auctions for tis reason, and I'll tell them that flat out.
The auctioneer is already charging the seller, and they want more from the buyer?? F that.

Most auctioneers around here have gone away from the buyer's premium.

What he said......when it comes to buyers premium.......just say NO!!!
 

Buford T. Justice

Well-known member
Joined
Jan 20, 2010
Messages
607
Location
Montague County
10% buyer's premium??

Nope, I don't pay a buyer's premium. I've walked away from many auctions for tis reason, and I'll tell them that flat out.
The auctioneer is already charging the seller, and they want more from the buyer?? F that.

Most auctioneers around here have gone away from the buyer's premium.

What is buyers premium?
 

tfi racing

Well-known member
Joined
Apr 19, 2008
Messages
2,907
Location
Cedar,BC
What is buyers premium?

You,the purchaser, gets to pay the auctioneer a percentage on top of your winning bid,the auctioneer also gets a percentage from the consignor,guess who the big winner is! A certain popular televised auto auction is the prime example of this,correct me if I don't have the % right,I beleive they collect about 10% from the seller as well as 10% from the winning bidder,so on a $100k sale,they collect $20k...
 

Dewaynep

Well-known member
Joined
Sep 8, 2010
Messages
469
Every single auction house here in Western NY charges a buyers premium. Most have gone to 13% with a 3% "discount" for cash or check.
 
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Buford T. Justice

Well-known member
Joined
Jan 20, 2010
Messages
607
Location
Montague County
You,the purchaser, gets to pay the auctioneer a percentage on top of your winning bid,the auctioneer also gets a percentage from the consignor,guess who the big winner is! A certain popular televised auto auction is the prime example of this,correct me if I don't have the % right,I beleive they collect about 10% from the seller as well as 10% from the winning bidder,so on a $100k sale,they collect $20k...

Oh wow, that's a no-brainer. Thanks. I'd walk too-
 

tdkkart

Well-known member
Joined
Jun 17, 2006
Messages
6,887
Location
Eastern Iowa
Where else in the world could/would a retailer try to get by with charging their customers a 10% premium for the privledge of shopping with them?? Especially when the retailer is doing their damndest to raise the price right in front of your nose??

Makes no sense to me, and I can't believe anyone falls for it.
 

SteveL

Well-known member
Joined
Jan 14, 2005
Messages
760
Location
St. Louis, MO
Not that I agree with a buyers premium, but how many companies could survive with a 10% GROSS profit if all they got was the seller premium. Yes B/J classic auto auctions generate a lot $$$ but it also costs a lot to put on an event that size.

If the auction company tried to charge the owner 25% so they could end up netting 10%, no one would use them. Catch 22 either way.
 

rsieracki

Well-known member
Joined
Mar 3, 2010
Messages
1,679
Location
Chicagoland Area
guys, just figure it into your max bid, if enough people get turned off by the 10% theres less bidders and therfore generally a lower price so sometimes it works out. its like other things in life, all relative
 
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