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Re: Tonight's auction...

By: De_Composed in 6TH POPE | Recommend this post (0)
Fri, 29 Mar 24 3:38 PM | 43 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 51731 of 60008
(This msg. is a reply to 51019 by De_Composed)
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I know you guys worry that I don't have enough things to store. So, just to set your minds at ease... here's a portion of the crap my wife or I bought
at auction in the last two days.



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The above is a reply to the following message:
Re: Tonight's auction...
By: De_Composed in 6TH POPE
Tue, 12 Mar 24 3:03 AM 		Msg. 51019 of 60008

How NOT to Run an Auction:

We just finished with a small Massachusetts auction.. Nobody was there. The auction house did an abysmal job of advertising the auction. Or it chased away the potential buyers with a $5 starting bid on every item. Or the pickup location was lousy (who wants to drive into Massachusetts??) Or . . . some other reason? I don't know, but it was a ghost town. It was the least active auction I've ever been to, and we won every single item we wanted at prices well below what we'd have been willing to pay if there'd been competition.

Get this: Of the 59 auction lots, just seventeen sold. (Usually, an auction of 300 lots might have six or seven that don't sell.) Twelve of those seventeen sales were to us. All but two of our wins were at the $5 starting bid.

Nearly everything at this auction was either a pocket knife or garage hardware - and not very interesting garage hardware. The hardware we won included things like boxes of screws and nails, tool chests with the usual miscellany you see in tool chests, pegboard tools (including a couple of nice pipe wrenches), and two bigger items on which we had slight competition. Those two were a collapsible Carpenter's Workbench ($8 ) and a "Flex-O-Ladder II" ($18 ) that I think is 16' when extended. If so, it might be $200 new - though I see one now that, in 2017, sold at auction for $14.

Including the 18% auction house fee, we spent a total of $83.78. I figure the auction house is going to walk away with MAYBE $15 for all their time and trouble. And THAT is one poorly done auction.

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