Dumb mistake at machine auction!
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    Default Dumb mistake at machine auction!

    Mistakes, sometimes all you can hope for is that someone else will learn from your example.

    Long story short: Checked out an auction on preview day, logged in & made some advanced bids, day of auction came and logged in for live bidding, unwittingly bid against self and bought too much stuff at higher prices than hoped.

    Lesson: Using the same account for advanced bidding and live bidding does not mean the two won't overlap. This ones going to be tattooed in my brain for a long time to come.

    funnyquote12.jpg

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    Ouch! That's a lesson to note, for sure.

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    Did you yell at yourself for bidding yourself up?

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    I could handle making mistakes... I make more mistakes than I want to.
    Its part of life for me.

    It's the mistakes my wife knows about that hurt the most.

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    That's alright. I've definitely bid against myself at a live auction...without advanced bidding.

    "$250?" "ME!" "$275" "STILL ME!"

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    Well I guess it's not all bad. I was bidding on things that the shop really needed and a couple things that I just wanted personally. Picked up a 1.25 million btu/hr paintbooth heater (never installed), a Sullair 75hp rotary screw air compressor, and a couple of regrigerated air dryers for all less than $3K. On the flip side I'm now the unfortunate-fortunate (yet to decide) owner of a nearly mint Cincinnati Heavy 16" shaper and a Cincinnati Dial Type Horizontal Universal mill with vertical spindle attachment (about $2,700 for the pair of those). At least I know I got a deal on the shop air equipment, jury's still out on the shaper and mill.

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    shapers are indispensable on certain jobs..... keyseats in blind weldments... undercuts in parts that can't be cheaply milled

    The dial types, if all you have is bridgeports.... a dial type is a real upgrade... .50 per pass 4 inches wide,,, get your broom... take longer to clean up than mill it.

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    I almost went to that auction, that shaper was on my list. Glad it went to someone who is going to use it. Sorry I couldn't be there to help you from bidding against yourself lol. Nice scores though! Sounds like the stuff wasn't going super cheap.

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    At some point during the auction did you think......"Damn...That guys an ass, maybe I will bid it up a bit and drop it on him".....lol

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    Quote Originally Posted by Blazemaster View Post
    Sounds like the stuff wasn't going super cheap.
    I'd say for the most part it was actually pretty crazy how cheap stuff went for. With 1087 lots to sell off in one day it was a long auction. Anything woodworking related or easy to transport got lots of bidding. The heavy iron got almost no traction at all it seems. A big Cincinnati 6' x 12' CNC router went for $1200. A Cincinnati Milacron 5-axis mill (in working service when removed) went for less than $2K IIRC. LVD 100 ton 10' CNC press brake wend for about $2800, really clean condition all the way around. There were a number of large granite surface plates, biggest one was 4' x 10' x 10" thick, no grade markings on them that I could see. Went for less than $1k IIRC. So much big stuff, it was huge. Oh, I almost forgot, picked up a running Hyster, 9000 lb capacity with a 215" lift for $1,500. Auction started at 9 am and ran until after 7pm. Going to be a busy week up there next week moving stuff out. Everyone has till 4pm Wed to get stuff loaded up and moved out.

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    Quote Originally Posted by toolsteel View Post
    At some point during the auction did you think......"Damn...That guys an ass, maybe I will bid it up a bit and drop it on him".....lol
    Oh I was definitely getting pissed at this other guy that seemed to know exactly what I wanted! Never underestimate how far your evil twin will go to thwart you. Man I hate that guy!

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    El Mustachio,
    I have been to an auction, overpaid for the lot I wanted & then bumped into a friend who said "I tried to buy Lot XYZ for you but it made too much"

    Ray

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    Hey buddy I have been down that road twice.

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    I've been bidding at auctions for 30 years and have made at least one mistake at every one of them. Paying too much, not buying something that went too cheap, not seeing a problem with a machine, underestimating the extra charges that get piled on, etc. I've made 'em all. But.... it's always fun, esp live auctions. Lots of interesting people to meet and cool shops to visit.

    Neil

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    Quote Originally Posted by El Mustachio View Post
    Mistakes, sometimes all you can hope for is that someone else will learn from your example.

    Long story short: Checked out an auction on preview day, logged in & made some advanced bids, day of auction came and logged in for live bidding, unwittingly bid against self and bought too much stuff at higher prices than hoped.

    Lesson: Using the same account for advanced bidding and live bidding does not mean the two won't overlap. This ones going to be tattooed in my brain for a long time to come.

    funnyquote12.jpg
    Total newb here to online auctions, but would like to eventually. So at the risk of sounding totally nieve - I'm not understanding. Did you have some automatic "up-bid" setup (with a top end) so your two accounts were battling each other (the one you used on preview day vs one during live auction)? Can you explain how this happens in more detail?

    If you're using the same account for both preview and live bidding how does that happen?

    Thanks for posting your experience - hope you recover $$ well.

    Mike

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    I love auctions, I've bought alot of stuff over the years at auctions. Paid too much for some things, but got incredible deals at alot of others. If you go to enough of them you learn alot about people, seen some crazy stuff met some good people too. For me I just put a price in my head and don't exceed it. If everything is going high I leave because you aren't going to buy anything. Sometimes I regret not buying something, but there has been other times a better item comes along later and I'm glad I didn't nuy the first one. I also use auctions as a gauge of the economy, if stuff goes cheap people don't have money, if things go real high the economy is good. Sometimes people go crazy and pay too way too much.
    Jeff

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    Quote Originally Posted by mtncrawler View Post
    Total newb here to online auctions, but would like to eventually. So at the risk of sounding totally nieve - I'm not understanding. Did you have some automatic "up-bid" setup (with a top end) so your two accounts were battling each other (the one you used on preview day vs one during live auction)? Can you explain how this happens in more detail?
    This was my second auction with this company. You can bid in person, advanced, or live via web the day of the auction. If you bid live, you need to sign up in person at the auction but don't need an account on their website. If you're going to advance bid or live bid you need a web account. I had a web account from previously bidding advanced at a different auction (didn't end up getting those items). This auction came around and I knew I couldn't be at it the day of. I did make it to the preview though. Wasn't sure I could even be at the computer for live bidding, so I put in some advanced bids on a couple key items. The day of the auction came and I was in fact able to be near the computer, so I logged in with the same account I used to advanced bid and got ready to bid via live web if need be.

    What I didn't realize is they had printed off my advanced bids on paper before the auction and handed them to an employee to bid for me live. Meanwhile a separate employee was manning a laptop watching various live web bidding and bidding for those. Although I used one account for both activities, they printed out a different auction ID # for both my advanced bids and live bids. So as far as the employees at the auction knew, I was two different bidders. After calling the auction house after I got the bill, it turns out I'm not the first to have made that mistake. They told me in the future that I need to call once the auction starts and have them cancel my advanced bids, if I'm going to bid live.

    Living and learning

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    Mustachio - Thanks for relating the details of your 'mistake'...good to know. I have attended many auctions over 3-4 decades and they all have their tricks and tips...Sounds like you did not buy anything for more than your advance bid - but still could of gotten cheaper?
    Unrelated to your 'mistake" - but for neophytes: Over the years my main tip to newbies to auctions is to suss a price your willing to pay and do NOT go over it period - maybe one bid increment at most - NEVER get into bidding war - I can't tell you how many times I have seen a 'bidding war' going on that involved no real people besides the primary bidder and the auctioneer or employees of the auction 'house'. Since I am often a bidder a 'stink bid' prices - I have even had auctioneers use me as a bidder when I never moved or indicated I made a bid - when prices are low and he knows the competition will up the bid. Also - if one follows the above advice regarding not going over a price set in one's head - I.e you bid 2-3 times and quit- an auctioneer realizes your 'mind set' in future items and you will not be subject to a fantasy bidding war - the auctioneer knows when he is at the 'end' and if he knows how easily you are 'out' - you'll be surprised how fast the item closes once he knows you are not 'good' for many bids. Using the above suggestions I can't count how many times I lost an auction to the next increment above me...that's totally OK and just part of what's to be expected - there is always another 'deal' coming ..never lament what you did not get...stick to the 'rule'

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    Quote Originally Posted by kgize View Post
    Mustachio - Thanks for relating the details of your 'mistake'...good to know. I have attended many auctions over 3-4 decades and they all have their tricks and tips...Sounds like you did not buy anything for more than your advance bid - but still could of gotten cheaper?
    Unrelated to your 'mistake" - but for neophytes: Over the years my main tip to newbies to auctions is to suss a price your willing to pay and do NOT go over it period - maybe one bid increment at most - NEVER get into bidding war - I can't tell you how many times I have seen a 'bidding war' going on that involved no real people besides the primary bidder and the auctioneer or employees of the auction 'house'. Since I am often a bidder a 'stink bid' prices - I have even had auctioneers use me as a bidder when I never moved or indicated I made a bid - when prices are low and he knows the competition will up the bid. Also - if one follows the above advice regarding not going over a price set in one's head - I.e you bid 2-3 times and quit- an auctioneer realizes your 'mind set' in future items and you will not be subject to a fantasy bidding war - the auctioneer knows when he is at the 'end' and if he knows how easily you are 'out' - you'll be surprised how fast the item closes once he knows you are not 'good' for many bids. Using the above suggestions I can't count how many times I lost an auction to the next increment above me...that's totally OK and just part of what's to be expected - there is always another 'deal' coming ..never lament what you did not get...stick to the 'rule'
    What I usually do is bid fast at first but then slow down as the bid amounts get from "no way it's going that cheap" and into "maybe it will sell, screamin' deal" territory....far from when I'm actually are willing to stop.

    It doesn't always work but the theory is the fast reaction causes some bidders to "give up" but at some point you don't want the auctioneer to think you will keep going and going. So I slow way down at some point so the auctioneer thinks I'm about to give up...even though in reality I'm willing to go many thousands more. On a machine I'm willing to pay $25,000 for I'd bid instantly up to $15,000 but then slow way down after that, even if I'm biding against someone who keeps outbidding me instantly. A few months ago was willing to go $30,000 on a CNC machine, bidding stalled at $16,000 and I'm thinking "holy moses, am I really going to get this thing that cheap ??"

    But then another bidder yells out "$20,000" and I'm thinking "oh lord, here we go... looks bleak now..." So I pretend I'm almost tapped out by delay...finally bid $21,000.... and damned if Mr. $20,000* does not bid any more and I get it for $21,000 !! That was a good day !


    *who might have been an auctioneer shill in reality
    Last edited by Milacron; 12-07-2014 at 10:00 AM.

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    Milacron - that's also a good strategy - I do the same too - slow down from rapid bidding to indicate I am hesitating on the price - when I may be far from it...as you said.
    It's a subject that could use its own thread. Auctions take some skill and experience. Incredible bargains can be had...but its not a simple as just going and placing your bid...I have seen many people pay more than the item could be had new...
    Another thing I've noticed in general at auctions - the first 2-3 items go cheap...perhaps people just are not yet in the mind frame to bid....and then at the end - if an auction is big and takes much of the day - the last hour will have huge bargains after people get tired, leave, busy sussing what they already bought, or have depleted their funds. Its often worth it to not go to the auction until near its end. Another tip - if one goes to some auction on pickup date after auction ended) - many items don't get paid for -ask about those items - they can often be had for the bid below the (defaulting) winner or even much less - they need to clear the space...

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