If you’ve caught the auction bug, follow these steps
IN THE SHOP with Rachel
By Rachel Gingell
Farms.com
If you’ve been following along in our spring auction playbook, you might be catching the auction bug. Spring is a great time for farm equipment auctions and there are plenty of deals to be found! You just need to know where to look.
As a licensed auctioneer, I’ve called bids at all sorts of equipment auctions. I like to attend auctions, too – and I’ve found some of the best deals at little, out-of-the-way and under-advertised sales. I might regret sharing this with those of you who live in Michigan but here you go: my auction-finding philosophy.
There are three different kinds of auctions. Each offer their own advantages and some are easier to find than others.
The first kind is the big, national-level collector’s consignment auction. Think of the Mecum Gone Farmin’ Auction. These auctions offer a wide variety of tractors, specializing in the rare and valuable. Auctions like these are typically multi-day and well-advertised. Going to one of these auctions is entertainment all on its own. Serious collectors with money to spend will find plenty of things to buy here but the budget-conscious can also find a few deals.
The second kind is the local consignment or farm auction. These are typically advertised by the auctioneer online as well as in local newspapers. You attend this type of auction to find a reliable selection of common tractors. (Sometimes, however, a real gem will come through – and that’s all part of the fun.)
The final kind of auction is the poorly advertised. If you can find out about these auctions, you stand to get some great deals. Some auctioneers who are just starting out will fly under the radar and their sales won’t be listed on well-known auction websites. Or the sale might be listed online, but with a generic reference simply to “tractors” instead of specific makes and models. Some sales might be advertised only in the “public notices” section of the newspaper.
While I wasn’t in attendance at the sale, my dad still tells stories about an auction he attended that featured a tractor collection that was seized by the U.S. Marshalls. The Marshalls had no idea how to advertise the valuable collection and my dad got some great deals that day.
This last category – the poorly advertised – is where you can really find the deals. This type of auction is also where you can strike out repeatedly. If you have more time than money, though, tracking down and attending these sales is where you’ll have the most opportunity to find a truly spectacular deal.