Auction question

[Alex Zeller]

If I happen across a good deal but it's not something that close to me should I post information about it? If another member is going to try and buy it cheap I don't want to run the price up by letting others know about it but a number of people don't realize the deals that can be had. For example I stumbled across a Laguna bandsaw with 2 days left that's only at $100. If I had to guess it's a Resaw Master that would cost thousands if purchased new. But the auction doesn't do a very good job in giving the full details about it so just searching the internet means it would unlikely to be found. In fact the only way to find out any information on this saw is by the tag on the saw (see below).

388428

[Steve Rozmiarek]

I googled ebay for the auction, found a nice used diablo italian saw blade, missing a few teeth, for $45. Think I'm not on the right track...

[Don Jarvie]

Just for fun follow it and watch the price go up over the next 2 days. Some auctions everyone jumps in early and some late. Bandsaws unless their 3 phase usually go for top dollar sometimes more than their worth.

[Alex Zeller]

Ebay auctions seam to jump up like crazy but not industrial equipment auctions. This dust collector just sold for $25 (3hp 1ph) close to me but I just didn't need it.
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[Ed Labadie]

2 days left means nothing....see it all the time with farm equipment, a 2 year old tractor for 25k, all said and done 125k.

Ed

[Dustin talbott]

Yeah, I saw the same auction as well. Looks like a great deal, unfortunately like Ed says, the price will likely be driven up significantly in the last hour. Especially since there are several good photos of the saw.

Unlike ebay, An issue with this particular auction site (and many others) is anytime you place a bid with less than 3 minutes remaining, it adds another 3 minutes to the auction time. This means an auction can go a lot longer and price go much higher even though the orig time has expired. My advice, pick a top number you are willing to pay (including buyer premium that gets tacked on to the high bid) and stick with it. Otherwise you may get caught up in the heat of the moment and buy a 125k tractor...

This saw is on the other side of the country so you won’t have a competitor in me. I’ll be rooting for you that you get a good deal!

[Alex Zeller]

It's too far away for me. Last month there was a much closer Laguna LT24 that sold for $1300 (probably $1500 with the buyer's premium and loading fee). That's a $5000 new bandsaw that can handle over 16" of resaw capacity. It'll be interesting to see what the final price is. I'm not sure if they show the sold price or if once the auction is over if it just goes away.

[Jim Becker]

If you become a contributor, you can post an interesting deal in the "Deals and Discounts" forum. Note that links to auctions are not permitted, but you can provide enough information for folks to find it with a little creativity. ;)

Jim
Forum Moderator

[Matt Day]

Also be aware that most online auctions allow you to bid before the live auction starts. So you can bid all you want online and enter your maximum bid, but when the live auction starts is when the action usually begins, and lasts for about 45 seconds before they move to the next lot.

[Alex Zeller]

These equipment auctions I'm talking about run for weeks at at a time. Often they have a number of items at one location and all will end at the same time. If the current price is $100 and I bid $500 the price will only increment by the set value. So if something sells for $250 the winner could have bid $500 (which you would of had to surpass to win). Often bidders just put in their maximum and wait to see if they win. They also extend the time so if someone tries to wait until the very last moment to place a bid, like you can do on eBay, it'll just add more time to the auction. I believe a lot of the people bidding are either companies that resell the equipment or businesses that need something.

[Bill Dufour]

My thoughts are links to a fixed price sale are fine but auction links are not okay. By posting links you just made a reader here pay more do to increased price competition by others who where not interested enough to look for that auction on there own.
I think it is fine to post after the auction so folks see what things have sold for and use that information for their future shopping/ bidding.
Bil lD

[Matt Schrum]

Man, if only I had a relative in California to pick that saw up for me...

[Alex Zeller]

The winning bid was less than $1000 and less than $1200 with the auction fees.

[Jerome Stanek]

The winning bid was less than $1000 and less than $1200 with the auction fees.

That doesn't mean that you could have bought it for $1000 it just means that no one else was willing to pay more for it. The winner may have been willing to pay $2000. At an auction I was at I bought an item for $50 that I had set my high bid at $200 but everyone that bid on it didn't really want it that much.

[Stephen Rosenthal]

I noticed it, but it was 3 phase so couldn't use it.