Tool auctions?

[5.0 clunker]

I came across add on CL last night for auction in a automotive repair shop.

I have never been to one of these before and was wondering what to expect, based on the add it looks like there is some good stuff up for grabs.

I'm pretty pumped to go to check things out, even if I dont buy anything.

 

[zkling]

They are pretty informal in my expereience. You stand in a small circle around the item(s) you want to bid on, and raise your hand or give "the nod" when the auctioneer points to you till the bid gets more than you want to pay or you win. Then they write your number down and move onto the next item. At the end you go up to the cashier and give them your number to pull up your tab. If you leave early, make sure you take your number with you. Just don't be the guy that has to be up front, yet never bids, blocking everyone elses view.

Sometimes you can find good deals. Other times, things will get bid up way beyond their value. It's an experience alright, but can be a huge waste of time as well.

 

[jimindm]

What I have noticed a lot lately is that there is a lot of craiglist and ebay buyers. It was not that long ago that there were a lot of deals. Now there is always a few that you just can not help but think that they have no idea how to use what they just bought.

I have had the best luck buying a box of this or a box of that. Or something that is not all there but I need it to make a complete set.

Not saying there are not some deals out there.

The last auction I went to I bought adapter kit for a brake flush machine for $30. There was no machine there, but I have a power bleeder with just a few adapters, and the ones I bought work great with it.

I also bought a ten piece metric SO 3/4 drive impact socket set. Gave $50 for it.

Also SO combination wrenches, 26, 27, 28, 30, 32, 34, 36 and 1 1/2, 1 5/8, 1 3/4. All in a taped up bundle for $125.

 

[BJ42LX]

I have never been to one of these before and was wondering what to expect, based on the add it looks like there is some good stuff up for grabs.

Get there 10 - 20 minutes before the auction starts. You'll need to find parking and check in at the auction trailer/booth/table to register (driver's license) and get a number.

It should be posted but if you don't see it ask about the buyer's premium. That's an extra "tax" you pay to the auction house above and beyond your bid. Around here 13% is typical with a 3% discount if you pay cash. For example, if you bid/win an item at $100 you'l end up paying $110 cash ($113 credit) plus your local sales tax.

You'll want to spend a few minutes before the auction checking things out. That Snap On toolbox you're interested in looked good in the pictures but has plenty of rust when you see it in person. At the same time, they forgot to list that mint 3/4hp Baldor pedestal grinder that's over in the corner. Make notes if you're going to bid on more than a couple items. Some guys bring flash lights to help with checking things out in the dark recesses of the building. I bring a couple paper towels in case my hands get greasy when fondling the merchandise.

There will probably be 50 - 100 other people there looking to get a deal just like you. The auctioneer and one or two henchmen will walk around to each item and sell them one at a time. The crowd will follow. Sometimes the auctioneer will bundle small items together so be sure you know what is being sold - don't expect to be able to buy that one dead blow hammer you're interested in; it will be in a box with 10 other tools. If there are only one or two items you're interested in camp out by those and wait for the auction to come to you. That way you'll be in a good position to see, hear and bid on your stuff.

Watch and listen closely to the auctioneer. They each have a little different cadence and you don't want to miss out on a deal just because you weren't expecting him to shout, "SOLD!"

When you decide to bid make sure the auctioneer or one of his henchmen sees you; raise your hand and make eye contact, holler if you have to. If there are lots of bidders for a single item the auctioneer may sometimes ignore all but two or three of them. His job is to get to the high bid. If he can work two bidders while eliminating six others his job is that much easier. Just make sure he DOES see you if you're still in it when the bidding comes to the end.

For all but the largest of items the bidding will be quick, so be ready. And know your limit. Don't forget the buyer's premium and sales tax!

Occasionally, if there are several items of the same type the auctioneer will auction them as bidder's choice. That means the highest bidder gets to choose one or more at the sale price. For example, there may be 10 tow chains. The auctioneer will auction them as buyer's choice. If you win the bid at $10 and you want three chains you'll have to pay $30 plus buyer's premium. As the winner you get to choose which three chains you want. Then the auctioneer will typically offer the remaining 7 chains to the under bidder at $10. After the under bidder the auctioneer will sometimes open it up to anyone else who wants the chains at $10 until they are gone. If any chains remain the auction starts over and people will try to win them for less.

When you win something you should collect it and put it someplace safe as soon as the crowd moves on a bit. There are a lot of people milling around and you don't want someone lifting the swivel clamps from that vise you just bought. You can take items to your car before you pay (just don't leave without paying!).

You can pay for your items just about any time during the auction - you don't have to wait until the end. Many auction houses use a computer to record each item as it's sold. Some others do that on paper, so you have to wait a few minutes for the sheet with your items on it to make its way over to the cashier.

If you win something big it's up to you to get it out of there, usually the same day, so plan ahead (lot's of guys show up with trailers just in case!). For really big stuff (lifts, construction equipment, things that are bolted to the floor) the auction will make arrangements so you can come back in a day or two and remove the items.

Good luck and enjoy!

 

[zkling]

What I have noticed a lot lately is that there is a lot of craiglist and ebay buyers. It was not that long ago that there were a lot of deals. Now there is always a few that you just can not help but think that they have no idea how to use what they just bought.

I've also noticed a large number of resellers, can usualy see them scramble on their phone to look up the item. There is a guy that has a resale shop here in town, and I see him at almost every well advertised auction, bidding high on mostly anything name brand.

As I mentioned above, it can be a real gamble, somtimes really good, sometimes a huge waste of time.

For all but the largest of items the bidding will be quick, so be ready. And know your limit. Don't forget the buyer's premium and sales tax!

Occasionally, if there are several items of the same type the auctioneer will auction them as bidder's choice. That means the highest bidder gets to choose one or more at the sale price. For example, there may be 10 tow chains. The auctioneer will auction them as buyer's choice. If you win the bid at $10 and you want three you'll have to pay $30 plus buyer's premium.

Some very good advice. Also know the terms of what they will accept, some only will take cash. When an item you want gets close, try to get up front so you can hear the auctioneer real well.

 

[5.0 clunker]

Great advise guys thanks!!

the auction is about an hour from home so it will be a day trip might take the old man for the hell of it. here is the link for a better idea of what im looking at.

http://spectrumauctionllc.com/?page_id=422

 

[zkling]

Great advise guys thanks!!

http://albuquerque.craigslist.org/bfd/4753377531.html

Pack a lunch (or two) and a trailer, some basic tools and a buddy. That is going to be a frenzy. Some auctioneers will piece the small stuff out, others I've seen will go as large as an entire corner or even closet.

 

[tavernaut]

Here's been my auction experience: it's fun. It's easy to catch the fever and bid too high for something you maybe don't even really want. There are occasional crazy deals that make it all worthwhile, but auctions are fun even if you don't come home with anything (kind of like a day fishing).

What will ruin an auction, is when two guys lock horns and start getting into a ******* contest. These two guys will RUIN any chance of scoring a deal.

 

[vision8]

I have been going to auctions ( mostly for farm equipment ) but did a similar one a couple of month's ago. Register and get a number and a catalogue , ask when merchandise has to be removed by, then go and check out the merchandise. Remember that everything is sold as is so if the electrical drill is not tested it may be dead ! The Blue Rotary 2-post looks good but at the last auction the price was twice what I made a deal for. Set your limit on each item that you want ; take notes of sold values of the items. Then you know at the next auction what to expect.
Good Luck.

 

[Steevo]

Looks like a good auction. Those parts rooms are usually full of good stuff, and often auctioned in big lots, like an entire shelf or wall of stuff.
Many good deals come from those.
I'd be at that auction if it was in my region.

Good luck!
And post pics of your winnings.

 

[BJ42LX]

What will ruin an auction, is when two guys lock horns and start getting into a ******* contest. These two guys will RUIN any chance of scoring a deal.

There are a lot of interesting types at (tool) auctions. I find they are mostly overweight, middle-aged, working class, white males [just like me!]. Lots of grey hair and Carhartt outerwear. There are of course, exceptions to this.**

The regulars: guys who go to all the auctions looking for whatever interests them - tools, equipment, brands, vises, anvils, etc.

The resellers: guys who are looking for a deal on anything they can resell or scrap for a buck. Bottom feeders (but not in a negative, social way). They always seem to be nervous and often smoke like fiends. They're always complaining about something - the weather, the other bidders, the auctioneer, etc.

The pros: guys who own tool business, antique shops or other business where they will resell what they buy.

The businessman: The guy who owns a shop, business or farm and wants to buy tools and equipment to support that endeavor. These guys have money, know what they want and what to pay for it.

The whale: A wealthy guy (or gal) who's at the auction for something special. Specific antiques, sliver, artwork, rugs, etc. They're from the right side of town and it show in their clothes and car they arrive in. Not afraid to bid high.

The kid: There's always at least one when the auction has Snap On tools. A young guy with a young wife who's probably just getting started as a wrench. He's there to buy Snap On to fill out his box and the wife is along to control the budget and support her hubby in is career.

The WTF guy: There's always someone at the auction worth a WTF. An 80 year old who buys a box lot of suspension tools and says to the guy next to him, "great! I can use that stuff". The huge guy stuck in a motorized chair who can barely breath yet has one of those vapor suckers permanently attached to his pie hole.

Amish and/or Mennonites: They love auctions that include farm land and with a bent toward farm equipment and maintenance.


**I went to an auction last week in Buffalo. The Buffalo school board was auctioning off all their old high school shop equipment. The place was mobbed with the type of men I described above. I had my eye on this 12", 3 phase pedestal grinder - a real industrial piece. The auction took off and out of no where this little twenty-something girl jumps into the mix and wins the thing! No idea what she was going to use it for, or how she was going to get it out of there!

 

[starting]

From the few I've been to its very sporadic. Some stuff sells high, other low and others not at all. I just helped a family member set up for an auction. An old table saw sold for a dollar for scrap but yet no one wanted a universal weight bench for a penny. I was working and couldn't be there but they sold a running simplicity ride on with tow behind leaf vacuum, little tow cart, and plow for 165$. I couldn't believe it. I would have paid double had I known it was going so cheap. I have no use for another so I didn't think of even asking about it figuring it would go for well over $500. Also an all metal tonka toy shold for $140. The prices are so over the place it sometimes makes no sense.

 

[5.0 clunker]

I hope to come away with something cool I have no problem standing by and watching two bros duke it out via wallet war fare. I really dont have any big ticket items in mind maybe just a box of sockets or hell maybe even some shelving.

I was wondering how the tools and smaller items dont grow legs and disrepair before the auction date?

 

[nine4gmc]

As BJ mentioned, you gotta add the "buyers premium" to the total of your winning bid. Same here 10% cash another 3% if you charge it so mentally prepare yourself with a max bid prior to bidding and stick to it. You would not believe how many bidders get caught up in the moment and just want to win, regardless of what it costs. Some auctions offer an auction list, everything auctioned will have lot numbers and a be on the list. I walk around during the preview and make notes on what I am interested in, along with what I would like to spend and what I would be willing to go up to. If I get outbid on the first item, for example, I would be willing to go max on the next item but if I go max on the first, I may not pay max for the next item and so on.
Some bidders are talkers, when I go to an auction, I barely speak to my girl, much less anyone else there. It's strictly business with me, I'm not there to make friends. Some just want to know if you are interested in what they are, how much you are willing to pay etc, don't let them in your head and don't let them see your notes.
When I win an item, I usually snap a couple pics for reference so if anything comes up missing or damaged, I have proof. If you have several items in a row that you are bidding on, just write your number and the lot down and come back for pics afterwards, between bidding. I have even took pics prior to bidding just in case I get busy later but being somewhat superstitious, I think that can jinx you as well so be careful.

Lots of small things walk out, I have been to previews up to 3 days before an event and by the time of auction, something has disappeared. I have heard of people swapping lot numbers as well, you win an item and someone wins the ****** one next to it, they swap tags and you come back to find you got got... Take pics, take notes and stick to the plans you made prior to bidding when you have more time to think.

Be courteous like Z mentioned, don't be that guy standing up front in the way when you don't plan on bidding on that item or the next few directly after it. I usually place myself on the back side of the circle, direct view of the auctioneers and group that is bidding so I can keep an eye on who is who(BJ's list of characters). Look the auctioneer in the eye when you bid, some people think because they raise their card, they won when you are standing behind them and the auctioneer knows you bid last(winning bid).

If there is anything you are slightly interested in but think it may go high, sit back on the sideline but pay attention, I have scooped up killer deals like that. Thinking an item will go high so I didn't even plan on bidding but when you hear "$10 going once, going twice" jump the **** in!!

Have fun and let us know what you win!

Edited: ALSO, if they end up bunching an item you are interested in with an entire closet, pile or shelf of other items that you are not interested in, pay attention to the winner, write his bidder number down and get with him AFTER the bidding, you may be able to purchase the single item you want for pennies on the dollar if he is only interested in the rest of the lot or other item in that lot.

 

[jonemark401]

Seems like BJ42LX has been to a boatload of auctions, is an auctioneer, or is a freakishly perceptive student of human behavior. I have only been to one auction. It was an old timer who built/restored hotrods his whole life and it was his shop. Easily 100 individuals there. I got exactly what I wanted- a Baldor buffer on a baldor pedestal, a 6 inch columbian vise also mounted on a baldor pedestal, and the best hand truck I have ever used. Fortunately no one really bid against me so I did well. My only regret is not persisting on a Wilton 800s vise that went for $200. I had NO idea what they go for- I do now. Half the fun was just watching everyone else bid away. Every type of person BJ42LX described was there!

 

[justme-]

I've been to dozens of auctions, many dealerships that have closed down... get there at least 20 min before the preview starts, which is either before the auction same day or day before.
Check with the auction company ahead of time - some companies will throw you out if you touch anything before paying - advice to collect your stuff as soon as the auctioneer moves along can be very bad advice. I've been to many auctions where you have to pay to get a print out receipt of your lots, then either get escorted while collecting your lots or be checked out of the building against your printout. Been to some where they only allow x number of people in to collect their lots at a time too. Ask when you register so you know what to expect.

don't be surprised if an auctioneer gets no bids on something and lumps it together with another lot (or two, or three) to move it. Auctioneers may also do that preemptively if they see a certain item or type of item is not bringing much or not moving. don't be afraid to ask questions in the preview - sometimes you can make a deal for something you want that is not in the auction that you see, or even buy outright something before it goes to auction - lots can be pulled from the list up until the auction opens.

I once bought an entire room at a dealership auction for $75 - everyone else interested thought it was only for a table of stuff (they way it had been tagged and described) but I asked ahead of time since I wanted most of the contents and would have cut a deal right there for it had it been available - they told me it was the table and shelves etc... during bidding I asked the auctioneer if they would include a rack of uniforms also, which she agreed. several people grabbed me when I was collecting my lots looking for items that were in there they wanted to deal on post hammer but the auction company told them it was part of the lot, so I broke even before I had even left the auction.

 

[kf4zht]

There are a lot of interesting types at (tool) auctions. I find they are mostly overweight, middle-aged, working class, white males [just like me!]. Lots of grey hair and Carhartt outerwear. There are of course, exceptions to this.**

The regulars: guys who go to all the auctions looking for whatever interests them - tools, equipment, brands, vises, anvils, etc.

The resellers: guys who are looking for a deal on anything they can resell or scrap for a buck. Bottom feeders (but not in a negative, social way). They always seem to be nervous and often smoke like fiends. They're always complaining about something - the weather, the other bidders, the auctioneer, etc.

The pros: guys who own tool business, antique shops or other business where they will resell what they buy.

The businessman: The guy who owns a shop, business or farm and wants to buy tools and equipment to support that endeavor. These guys have money, know what they want and what to pay for it.

The whale: A wealthy guy (or gal) who's at the auction for something special. Specific antiques, sliver, artwork, rugs, etc. They're from the right side of town and it show in their clothes and car they arrive in. Not afraid to bid high.

The kid: There's always at least one when the auction has Snap On tools. A young guy with a young wife who's probably just getting started as a wrench. He's there to buy Snap On to fill out his box and the wife is along to control the budget and support her hubby in is career.

The WTF guy: There's always someone at the auction worth a WTF. An 80 year old who buys a box lot of suspension tools and says to the guy next to him, "great! I can use that stuff". The huge guy stuck in a motorized chair who can barely breath yet has one of those vapor suckers permanently attached to his pie hole.

Amish and/or Mennonites: They love auctions that include farm land and with a bent toward farm equipment and maintenance.


**I went to an auction last week in Buffalo. The Buffalo school board was auctioning off all their old high school shop equipment. The place was mobbed with the type of men I described above. I had my eye on this 12", 3 phase pedestal grinder - a real industrial piece. The auction took off and out of no where this little twenty-something girl jumps into the mix and wins the thing! No idea what she was going to use it for, or how she was going to get it out of there!

You forgot a couple:

The Lookie Lou - That guy that stands there for the entire auction and never puts a single bid in on anything. Makes you wonder why he even showed up

The overspender/oversizer - Either gets in a bidding war and goes way over his limit on an item or buys something that he has no way to transport. Ends up awkwardly trying to figure out how to pay or calling everyone he knows to see who can help him transport whatever he just bought.

The full retail plus guy - Seen this several times, he knows what he wants but has no clue how much it is worth, so he buys at near or over retail. I was at a trailer parts auction where a guy was paying 15-20 per pair for standard incandescent trailer lights.

If the auction has a preview time I like to take a look around and make note of what stuff I want. Give it a good look over so you know the condition, accessories, etc. The auctioneer is going to start the bidding and usually won't stop for you to count how many, check the brand, etc.

I like to keep a small notepad and write down what lots I win and how much. Lets me make sure nothing gets missed and watch my total price.

 

[GarageWarrior]

I've been to about a dozen auctions this summer/fall. Lots of good deals. One thing to be aware of is BIDDER'S CHOICE!

There was a dealership close-out auction last month where auctioneer wanted to do all the small tools and stock as "bidder's choice". WATCH YOUR WALLET! They had stacks of items laid out on tables - highest bidder could take however many items he wanted (times the bid). So auctioneer had guys pushing each-other's bids when they actually wanted different items!

For example - you'd have buyers A and B looking to buy a banding tool at $15 and $65 max bid respectively vs buyers C and D looking to buy a pipe vice for $45 and $55 max bid. If those items were to be auctioned in sequence with $5 incremental bid, you'd have banding tool selling for $20 and pipe vice for $50. With buyer's choice if banding tool was auctioned first - it would sell for $60!

 

[jimindm]

I will elaborate a little more than my third post. I would plan on getting there an hour early. By the time you get the last minute things gathered and stop for breakfast, bathroom, directions and get parked, you will arrive about a half hour early. Of coarse some of that changes if you are towing a trailer.

Take some tools. You never know what you will buy. You may have to disconnect electrical or air connections, or unbolt something from a wall, ceiling, floor, workbench or what ever. Ratchet straps and a tarp to keep things dry. Also some clothing for the sale. You might get way dirty, or you might stay clean. Do not assume that it will be inside or out side. It may be inside, but there is no power on. It might be out side in the sun, hot as hell. Or it might be outside, overcast with a 35mph wind. One of the coldest sales I have ever been to was a sale at a shop in early spring. There was no power in the building, so they had the shop door open and the 20mph wind just went through the over head doors in the front and back. Take clothes so you can be comfortable.

What ever you do, get there early enough to hear them announce how the sale will be run. This is usually done right before the auction starts. Most auctions announcements made at sale time is the way it will be sold. It is also a time that you can some what tell how and when they are selling items.

We do not have many that sell with a buyers premium here. What you bid is how much you pay. Whether you are interested in a lot or a little, just keep tabs on it. Yes some will walk away and what you were interested in a box of stuff may not be in that box anymore.If it is still there at all. I am not one to stand in the back. I want to know how the auctioneer is selling stuff. I have seen items like a stack of tires. Some auctioneers will sell by the stack, others will sell so much a piece, times four. Are you buying a stack of four tires four $20 each, or the whole stack for $80.

With smart phones it is very easy to get information about anything there. What many do not realize is that there is a difference in asking price and selling price. Just because Ebay and craigslist has the same item listed at $50, does not mean that what you are bidding on is worth $50.

Smartphones are great to see if what you are looking at is all there, is a part of a larger set, sometimes even how old it is. Buying something such as ball joint tools. It might be in a new looking case and everything, but may not have an adapter that fits anything newer than a 80s vehicle. Phones also allow you to see if something can be updated. Maybe that ball joint set can be updated for newer cars for $75. In the case of electronic diagnostic tools, how current it is and the ability to update, can really effect the value.

I look at items that I am interested in a few different ways. Hard items as in I can hold it and look at it and can make an opinion on it. Say a set of wrenches, sockets, toolbox, or bench. What you see is what you are buying. Inspection is the key.

Then come items like electronics, or electrical or air powered products. They may look good but not work like they should, or at all. Think about that when buying. Of coarse the auctioneer may make an announcement regarding that at the beginning of the sale. Even then it is easy to say an air tool is guaranteed to work, when the air compressor is disconnected sitting in a line up to sell.

Most of what I buy is for me to use. I have never been good at buying with hopes to sell at a huge profit. I will never buy something for some one else. I have done it in the past, and generally do not need what they wanted very badly. Until I buy it and they do not need it as bad as they wanted.

Even new is not new. Does it have a transferable warranty. You may not even know where the seller got it. A friend bought a newer looking genisis scan tool. Come to find out it did not have some kind of smart card or key that went in to it. Him and his tool guy came to the conclusion that it was likely sold that way. In the end he got a smoking deal on the tool that he had to spend some money to be able to use it. He still made out OK, but he was just under what he could have bought a working unit for.

Of coarse having said all of that there is exceptions. One time at an auto shop auction I won the bid on choice of all of the work benches, I think it was $40. There was like 20 in the place. I took them all. I only really wanted one or two, but knew that I had such a great deal on them that I could sell them for way more than that. I called my wife to bring the trailer. By the time she got there I had them all sold, but three. I sold them from $50-100. One other time I was looking at a shelf of sand paper that sold choice and some one else bought. He wanted every bit of it and loaded it all out. So bid what you think its worth, when you can bid.

When it come to sales like you are wanting to attend. To not think that you are buying new stuff. Think about it, if it was new would they not have returned it, before quitting business. It is likely outdated, very old, defective, used in a new box, what ever.

Last but not least go and have fun. There really is no other way to see what you have is really worth. Whether you never take your hand out of your pocket or you are waving it all day it will be fun. If you are like me on the way home you always have some buyers remorse. That you bought something or you did not buy something, or you paid to much or something.

 

[Flatland Dave]

Around here you need to watch out for the oxy/Acetylene tanks. Most here are leased tanks. So what you are buying is the regulators/hose/tips. If they are owned tanks make sure you get paperwork stating that they are owned tanks. First time you go to fill them you might get a different ownership story from the gas supplier.

Have fun!

 

[Keithinsc]

Best auction deals I have ever gotten was when the weather was miserable. Not too many bidders showed up.

Also, when the auctioneer holds up an item, he'll start the bid waaay high. Gimme $100.
Don't be afraid to insult him, bid $5, and let the crowd work up to its' real value. I've seen many guys bid that original $100 and no one else bids. Second guessing themselves that they could have gotten it cheaper!

If you are looking at a lot of small tools, bring a bucket to drop them into as you win the bid (if allowed). Keeps them from disappearing off the table. Hnady place to sit while you wait also.