Farm equipment auctions are a great place for you to find used equipment and farm tools, especially if you are looking for cars and tractors that are still very usable. However, when dealing with farm auctions, you will have to develop an experienced eye to avoid being stuck with bad deals, as well as learning when to spot great deals. This article provides you with a few tips to ensure that you get the best deal when bidding on farm equipment for sale.
Before you bid for any item, you have to find out as much information as possible about it. While most auctioneers are quite honest, there have been instances whereby which some auctioneers participate in “ghost bidding.” You should also purchase a used tractor and car price guide book. Discussion forums on the Internet Viewing discussion forums on the Internet such as Agriculture.com and Ytmag.com can provide you with useful information as to problem areas to watch for, when attending equipment auctions. MachineryPete.com is an auction price website that can help with the pricing of specific years and models.
Pick consignment auctions
Consignment auctions are some of the best places to get bargain deals on farm equipment, whether new or used. A consignment auction has many different dealers with many types of machinery and equipment, which offer much more to you in terms of variety. It may also be worthwhile travelling from one location to the other for different consignment auctions. Different brands and equipment often sell for widely varied prices in certain regions.
Picking a website
One of the greatest problems that you may face is finding a worthwhile auction location, especially if there are many within your regions. Websites such as Equipmentbarn.net and Farm.autotrader.co.uk are quite useful in locating auction and tractor dealers, as well as enlightening you on the items which will be on auction for that day. It is also notable to know that a number of dealers have websites that will provide information such as their auctions and prices of the equipment that they are offering.
The difference between a reserve auction and an absolute auction
When attending any consignment auction, you have to know which type of auction it is.
With a reserve auction, the reserve price has to be met before that the price is given to the highest bidder.
On the other hand, with the absolute auction, the highest bidder wins the price with no set minimum price.