|Forum topic by Holbs||posted 10-12-2013 05:48 PM||1637 views||0 times favorited||16 replies|
10-12-2013 05:48 PM
This relates only to auctions, not Craigslist nor eBay. I started off by visiting an auction on a whim over a year ago. It has since turned into some serious financial investment savings all around. For those starting out, or those in financial challenges (like me), auctions might be your answer.
types of auctions:
Items listed are not always accurate. Example: a lot was listed as “Japanese blades” while it was really $200 Japanese wood working hand saws which I promptly won the bid with $5.
Pictures do not tell the whole story. I bought my Reznor UDAP60 at a local online auction. I saw the picture online and went to inspect in person. It had scrapes and dust caked on it, as if it sat in a corner forgotten about or neglected. I won the bid for $70. Had HVAC friend come take a look. He informed me this $900 unit is brand new, unused (still had factory seals on it and the wiring has never been crimped). We tested that everything works.
You pray not everyone knows the value of a lot. This is where local auctions surpass online auctions. Some wood working items came up. 2xRockler wood screw clamps, Veritas items, Grizzly euro bench, Grizzly G0738 3speed air cleaner, Bosch 4100 with gravity stand. I bought all for $5 per lot, except the euro bench ($400 someone else won the bid) and Bosch 4100 (i already have 1, and it went for $200). No on bidded on the smaller items, but me. The air cleaner (i did win on $100 bid), rockler clamps, veritas router plane, veritas plug cutters, veritas angle cutters I won for under $120. At the different auction locally, bessey revo cabinet clamps came up. 48” x 8 of them. There were only 2 bidders: me and someone else. I stopped at $100 and he won. If he would not of been there, I would of won the lot with $40. argh.
Do your homework before the auction date. Pre-inspect if possible. Find out the retail / used price of a lot so you have a reference minimum / maximum bids. I make a list of lot #’s, the item, and it’s new retail or eBay dollar reference and make judgment calls in person. Decide if you will use the lot in the next 20 years. I have a squirrel cage fan out of a furnace I was planning to make a air cleaner. But then the Grizzly air cleaner came up. Seeing that it has remote control and 3 speeds and brand new in a box, I decided my maximum bid would be 50% off retail, instead of my usual 75% off retail. This is usually how I judge my maximum bids: 50% off retail or used if i REALLY want that item. 50%-99% off retail or used if i just want that item (such as #8 jointer plane for $10 or $50 for set of new crown cranked chisels, etc).
I seem to have a fascination with Keen Cutter hand tools. It is what my great grandfather used. I do not know the quality of their tools as compared to lee-neilson or such. In these instances, usually only online auctions would have these items. I have a bunch of Keen Cutter hand drills, bits, cabinet scrapers, etc. I considered bidding on a #3 Keen Cutter plane, but I guess 1/2 of LumberJocks were present and it went for $1000.
Take chances. I bought a Freud FT2200VCE 3-1/4HP variable speed plunge router for $50 at an online auction. I, of course, could not inspect in person and had to rely on pictures taken. Does the motor even work? Is something out of alignment or broken? Everything at any auction is “AS IS” and a no return policy (well, some do returns but not many). They sometimes plug stuff in to make sure it works, most of the time they do not bother. I won a LG large room air conditioner for $40. I was happy. Til I got it home and plugged it in. No freon so i was screwed.
One of my local in-person auctions has connections with the police department and MSC industrial tooling (their plant is here in northern Nevada). Many ‘tax exempt’ bikes & cars. And from MSC: $600 industrial circulation fans for $25, $300 dial calipers for $25, etc. If these machinist tools are 0.0001” off, they are rejected to be sold. So, off to auction they go (and for some items, into my garage).
Category of auctions:
I’ll stop here. Local auction just called and said i won the grizzly scroll saw for $25. Gotta go pick it up :)
I’m sure there are others who can share their gloats, wins, losses, experiences, insights with auctions. Please, do share them. And if you goto your local auction, for the first time… just watch and learn that first trip. You will get to understand the speed, procedures, the competing bids etc without throwing your wallet away.
examples of items purchased at auctions: