Auctions...tapering off?

I mean plant divestitures, shop closings, etc.

Seems like they were fast and furious from about 2000 to 2002/3, just judging by word of mouth and an occasional visit to an auctioneer's web schedule.

I don't seem to hear about that many these days.

Just curious as I'm not that close to it.

-Matt

Nope, plant auctions plentiful as ever...just not in the area you are in.

Hard to get deals at them too...prices up there. Was at an auction in Apex, NC a few days ago after a like new sissors lift among other things, and the damn thing went for ~twice~ what I expected...over $10,000 with buyers rip. Ironically the only deal was on something that rarely sells cheap...a late Clausing Metosa 1440 engine lathe that appeared nearly new went for $2,400 !!! (no taper attach or DRO but may have had 5C collet attach and 3 jaw chuck, steady) Bidding was "theatre" style via slide show and I had not inspected the thing so was afraid to bid (plus I'm trying to wean off buying any manual machinery), but looked at it later and it seemed fine

I've been to 4 or 5 auctions in the past couple of months for nothing...came away empty handed...with rare exceptions like Metosa mentioned, prices at dealer retail or above in many cases.

Buyer's rip...funny Dave.

I wish I had come up with that.

I am seeing 10 to 15% "buyer's rip" in the auctions that I attend...what is everyone else seeing?

Is it slowly moving higher?

TMT

TMT, the Apex auction was 12 percent but that is unusual...vast majority of machine tool auctions in Southeast are still at 10 percent for live auction....more to "webcast" bidders of course.

FWIW, I just got back from a rural auction where a hatchery was apparently closing down. Not much in the way of tools but a SB ~15" lathe brought $750, a Gardner 6x18 surface grinder $135, and a Clausing 15" benchtop drill press $220. All appeared to be in good shape and the lathe was well tooled with a taper attachment. It was painful to end up 2nd high bidder on the DP as it looked to be almost unused, but it wouldn't have fit in my car. A couple of Commander drill heads sold for $2. One bidder got pretty ticked off when he discovered that the three "micrometers" he bought for $2 turned out to be 6" scales with pencil clips

These auctions are usually fun - no buyer's premium, no sales tax, and the auctioneers are usually friendly. The downside is that the lots are usually junk.

Mike

Mike