Tip #6, do not fear three phase. VFDs are cheap and easy to set up.

Those are all very solid auction tips. Thanks for sharing. A tactic that I use, for my own sanity is to predetermine my maximum price, and stick to it. I watch myself get out bid quite often, but oh well, I don’t over pay.

VERY well done sir, and based on my 10+ years of buying via auction for my personal shop-one very much like yours-I concur with everything you said. Here is one additional tip for the non-beginner buyer, but one that people MAY not be aware of... Many online auction sites that hold timed auctions (as opposed to broadcasting a live auction) will allow the bidders to set a maximum price that they are willing to pay, and then 'auto-bid' up to that maximum price, using an established bid value increment (i.e $5 or $20, etc.) as competing bids are entered. In that way you do not have to go back and counter-bid so frequently. This is helpful, as it is vitally essential that you either use this method or ensure that you are online at the exact time that your targeted lot is set to close. MANY prices don't even BEGIN to move until 5 or 10 minutes prior to close, so this is critical. OK, here is the more advanced part, and why it pays to read the fine print: A few auctions will do something that many consider unethical with those maximum price bids, but they are required by all state laws to DECLARE that they do it, in the terms of the auction.... So read!! What they state they reserve the right to do is to view your max bid amount, and then bid as a competitor in order to get you to pay more, up to your max amount. This is commonly referred to as 'shilling' for the house, and without clearly stating that they reserve the right to do it, is illegal. So pay attention! For THOSE auctions, you probably do NOT want to enter a max bid, but rather just bid on-the-fly so that the auction house does NOT know how much you are willing to pay. So buyer beware, and good luck; even with all these details, TONS of bargains are there to be had!

@weldinggirl

Жыл бұрын

I remember an episode of American greed that a guy that owned a memorabilia bus did this with baseball cards, scandalous😡😡

I really like your style. You’re very personable. The kind of guy that’s easy to trust. Thanks for doing your channel.

Awesome rundown and some very good tips and warnings. Get that rigging/shipping quote before you bid!

Lots of great information! Thanks!

I have done this, buying from machinery auctions for years. EXCELLENT way to get equipment for literally "pennies on the dollar!....I do have a working machinery back round, and I always go to the previews if local, (within reasonable drive distance). If it is something I am not that familiar with, I research the hell out of the item!...I have purchased a Doall 1612 Bandsaw that was built in 1941, and works everyday!...I have gotten bandsaw blades that are too long for my 10 foot blade length, I built a jig to cut and weld/silver solder the blades to my size, I now have enough blades to last a life time...total purchase price...LESS than $30.00 total, for various widths and tooth counts....Pexto stomp shear...new blades,...$600.00....Pexto slip roller...$125.00....Enough various sizes and types of TIG welding rods....309, 308, ER80-2, 625 Inconel,...over 200 pounds of rod....1/16", 3/32", 1/18"...$60.00....deals can be had, you just have to look...

Great vid. Machinery auctions are the best. Most of my tooling and Bridgeport accessories came from them.

Thanks for the info,it was very helpful!

Someday I'll have a shop big enough for a metal lathe and a mill...But it's really cool to see yours:) All my machines were bought on craigslist.

I think this is a great bit of information. Thank you so much for sharing. Starting out can be very hard on your wallet.

Thanks for the tips! 👍👊

Looking at your shop, you walk your talk. Thanks for this.

Thank you for your insight.

Found your post interesting to watch. I can't wait to see your new videos soon. Good Luck with the upcoming update. This KZread channel is very informative and effective.

I found bidspotter last month and always go to the woodworking part, I see I will have to bid against you now, nice deal on the sawstop

Thanks for the tips!!

Great info thanks

A great addition. I have reviewed this wonderful video. Thanks for sharing the info about it. I like that. Thanks a lot for your post.

Great video some sound advice

Lots of good info!!

this was a great help

Great info...thanks a lot!

Great vid. You should do one on your bad experiences too.

@mikedavidson7470

5 жыл бұрын

Have you bought anything you regretted? What was the first thing you bought at auction?

Thanks for the advice,good infp

This is a great intro to auctions. I buy at auctions and have probably made every mistake but...... I have also identified several scams and am very weary of which online auctions I will participate in. I hope you do a follow up to this video with more in depth discussion. If you need ideas, I can name names and addresses.

ya love to follow when your bidding

10:12 I buy Gold and silver at auctions all the time. Sometimes people will set there "starting bid price" much higher than the value of the item that they are selling. For some reason no one will bid on those items :0)

Good video. I'm a rigger. And move , load and deliver machines all the time. I have a lot customers that call me to look at machines for them. So they dont have to travel to the preview. I also bid on items for customers wile on the phone with them.

@BudBullets

4 жыл бұрын

This is interesting. I'm always looking at tool auctions but most are halfway across the country. Can you give us a ballpark of what the fee structures are like for this kind of service? What if someone successfully bid on an online auction and had to have, say a large table saw, shipped to another state.

@metalworksmachineshop

4 жыл бұрын

@@BudBullets all depends on the location in the building. It could be on the ground floor or up on the 4th floor with a out of service elevator. And shipping is all over the place. Small items I would hot shot load them. Or deliver myself. And if you need it unloaded triple the rigging price. I loose money delivering, I'll make more at the auction than I would delivering one machine.

@BudBullets

4 жыл бұрын

@@metalworksmachineshop Thanks.

Thanks...you are making me spend more money ;-P

Add one other comment. After you have established you are a reliable bidder, many auctioneers will wave the deposit fee. I have found out that if I send in my registration to bid, they will approve it. To get establish, start with small auctions and purchase small items. Then follow through. Like your credit rating, that will establish you auction rating. Good video

Can you tell me about the Skull & spade poster? I am trying to find one.

Good

Amazing video! Any suggestions on how to find local machinery auctions other than google?

@MakeEverything

3 жыл бұрын

Www.bidspotter.com has National auctions

Hello from iraq well done help us to work

I buy a lot of equipment also. www.bidspotter.com is not a auction house. They provide the on line feed for a auction house. Bidspotter charges about 3 % for there on line service. The auction house usually charges anywhere from about 9-15% . So on line you could pay as much as 18 %, Then if there is a tax that is added on top of that. I generally will go to local auctions and eliminate the 3% that Bidspotter charges. The only time I use Bidspotter is if im only interested in just a few items. This way I dont have to spend all day waiting for my lots to come up. I may not even win them. It is a lot of fun when you can walk away with a good deal.

Great information does anyone know of sites like bidspotter selling heavy equipment or dump trucks? Thank you for your help.

@Mike-ck8kl

3 жыл бұрын

Hey Brenda: one place to check for heavy equipment and vehicles is GovPlanet. It's a government surplus auction site, and while I usually browse for tools and field gear, they always seem to have a lot of larger vehicles, construction material, etc.

@brendailgen

3 жыл бұрын

@@Mike-ck8kl thank you Mike:)

There is also item return sites like www.bidrl.com They have tools all the time.

Wow 900 for an industrial Sawstop

love going to auctions. Started going a couple months again and you can get stuff dirt cheap. another place i follow is auctionzip.com and they have it where you can enter your zip and find local auctions.

👍👍👍👍👍

Interesting TAX thing you Americans have... Whoever bought that equipment new already paid the TAX. Why do you pay TAX again? Unless it is the "income" TAX, like you made money from selling something, the state wants a cut, correct? If yes, nice racketeering scam. Does that TAX go to the state? I find it interesting when I go to the States and pay TAX, as a foreigner. Isn't that "taxation without representation" Boston style? Just a rant... thanks for interesting videos.

@flashpointrecycling

5 жыл бұрын

Yes, it goes to the state but cities can also have added tax. It is called "Sales and Use Tax". The state feels justified to cut in on all commerce within their state.

@michaelkenefick

5 жыл бұрын

It's a pyramid scheme.

@thisbetterman

2 жыл бұрын

what the govt official will say, is that the business has a license, also known as a privilege, that they had to get to be able to sell in that city. therefore, since it is a privilege, the gov't has the ability to tax it. rights are not supposed to be able to be taxed, privileges are able to be taxed since it is an activity the gov't is allowing you to perform, therefore, you have to pay them for the privilege of doing that activity.

Have you bought anything you regretted? What was the first thing you bought at auction?

I would never recommend or tell someone to quickly, while no one is looking, to turn something on to see if it works,never do that! Ask before you do.

All good advice. I have been a seller for over 8 years for a local government agency and sell a lot of items. I use Gov-Deals.com to post items For 2017 I sold over $851,000 dollars in surplus item. 2018 I sold over $650,000 dollars. I sell a vast array of items. tools , car, trucks, fire trucks,heavy equipment, etc. I've sold about every thing one time or another.

@derick3482

4 жыл бұрын

what do you think of bidspotter? i hear they're scammers how do you know if you're being scammed or there are shills?

@ban80

Жыл бұрын

Where do you get your stuff to sell ?

@57monoshock

Жыл бұрын

@@ban80 City government where I work.

N

👍👍💪💪😎😎

Paying movers is worth every penny unless you have the resources to do it yourself. Don't be the guy who asks his friends to move a lathe, or a piano, or a hot tub, just pay the guy and wait for it to show up. Cool video with lots of good tips! The tool desire sickness is better to have then not. Tools solve problems, tools make life easier, tools save you time (and money), tools even save lives (military /first responders), and most importantly completing a job is an absolute pleasure if you have the right tools. I'd rather have too many tools then be another millennial that doesn't know which way to turn a screw driver.

@mantexas9033

2 жыл бұрын

You're commenting on a video made by a millennial.

Thanks for the detailed information!

Great info, thanks.