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Re: Tonight's Auctions

By: De_Composed in 6TH POPE | Recommend this post (0)
Fri, 20 Sep 24 3:50 AM | 35 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 58482 of 60008
(This msg. is a reply to 58440 by De_Composed)
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Two auctions tonight, the first of which was the most difficult we've ever been in - because we won 32 lots and lost several times that many. We were sometimes bidding when we didn't even know for sure what a lot included - just because its price was so low and time was running out. We frequently bid based on nothing but a cover photo... not looking at the additional pictures or reading the descriptions. That ISN'T a smart way to do an auction. As ribit has noted, it's a good way to wind up buying a lot of crap. But now that the adrenaline rush is over and we've had time to look into things, we actually didn't do too badly. That would have been hard since we spent just $152 (plus 18%.) That's an average $4.75 purchase price for lots with things like: • sets of four pipe wrenches, • sets of ten wire snips, • the first four seasons of Friends, • 25 action movie DVDs (a lot of Clint Eastwood's work), • lots with several Playstation 2, X-box, X-box 360 and X-box One games, etc.

Putting it in perspective, there are many auctions of this size where we win nothing. Zero. Zip. Zilch. So winning 32 is a big deal and definitely had us on our toes.

The second auction only had six wins for $131 (plus 15%), mostly because I paid too much for a deer hoist/winch ($80) like (but not identical to) the one shown to the right. Again, I hadn't done my homework and didn't know that similar hoists cost as little as $109 on Amazon. Oh well. I don't yet know if this a good quality hoist or a lame one, so it might sell for as much as $200 new. I'll know more when I see it.

And, so, this is an extremely circuitous way of getting to the point of this post: That I found the warning label on the hoist to be quite funny. For that warning to have been added, some nimrod had to have actually put someone up on a DEER hoist -- with predictable results and probably a lawsuit!





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The above is a reply to the following message:
Re: Tonight's Auctions
By: De_Composed in 6TH POPE
Thu, 19 Sep 24 6:06 PM 		Msg. 58440 of 60008





I'm feeling pretty good about the sterling silverware bought a year ago (see the parent post) when silver was $23/oz. Even factoring in the auction premium and, of course, that sterling silver is just 92.5% silver, the 60 troy ounces were almost $200 below spot. Additionally, the lot included unweighed sterling silver knives. Knives and other "handled" silverware can't be included legally in a weighing since the blades are usually stainless steel, not sterling. The reality, though, is that the knife (and pie server) handles are thick and probably contain as much silver as any of the weighed pieces.

Silver is now $31/oz... up 34 percent... and certain to climb as the latest leg of the commodity supercycle is underway.

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