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Reply by Loren

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Posted on Why do some ordinary planes sell on eBay for crazy-high prices?

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Loren

7550 posts in 2300 days


#1 posted 08-07-2011 03:59 AM

Well, as a seller there are a lot of things you can do to get higher prices
on average from your auctions, but freakishly high selling prices are just
that, anomalies. I’ve sold stuff for less than I thought it was worth and
I’ve had stuff sell for more… and in the average range you learn
where you can make or lose money. Sometimes bidders go nuts –
hard to know why.

Sensible tool buyers don’t pay outlandish prices for common planes -
I reckon a Bailey jointer is worth about $50-80 in usable condition
with no cracks in the casting. Why some buyers pay much more at
some auctions is baffling, but I’ve seen it happen.

A few months ago a went to a seized assets auction and people
were smiling and bidding and it was like they were on drugs… I
know they were mostly reseller pros, but I suspect a lot of
people were getting carried away because there was so much
excitement in the room.

At live auctions I’ve got the best deals, usually, at events with
anemic attendance or apathetic crowds.

-- http://lawoodworking.com


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