Posted by steve terplak on April 02, 2011 at 19:15:03 from (67.142.168.21):
was at a general auction today...1 tractor there...tools, cars, some heavy equipt.... had a 13% buyer's premium for cash/check (w/ bank note) 16% for credit card on top...there is a consignment fee as well 50% items $1-$10 35% items $11-100 25% items $101-500 20% items 501-999 15% items $1001-5000 10$ items $5001+
over the first 200 lots...he sold $60,000 on items that cost between 1,000 and 5,000 probably sold $175,000 in those first 200 lots
still had 600 lots to go...
must have been a good day for him...i understand there is a lot that goes into running such an affair and i do not begrudge him for what he charges...i am just posting because i am suprised at how high the consignment fee is...on top of the buyer's premium...naively i thought most people charged one or the other...
makes me thankful for our local tractor guy who has no buyers premium and does an 8-10% consigners fee...
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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