Making the Most of Farm Equipment Auctions

Simple tips for making the most of farm equipment auctions

Making the most of farm equipment auctions means feeling good about the price you paid and the equipment you purchased. It isn't always easy to find a great bargain at a farm machinery auction. However, with the right auctioning techniques, you can bid like a pro.

A used farm equipment auction is a great opportunity for farmers to get a good deal. Before attending a farm equipment auction, consider some of the following:

1. What type of farm equipment auction are you attending?

2. Are you aware of all of the terms at the farm equipment auction?

3. Are you familiar with the average pricing at used farm equipment auctions?

 

Research the equipment you plan to buy at the farm equipment auction

It's easy to be lost in the fast-paced selling of the auction and not examine closely what you are buying. People who don't do their research end up paying very close to the new price for an old piece of equipment. Before the auction get all of the details on the equipment that most interests you, look up prices for the same equipment if you purchased it new today, then look up used equipment and find the going price for the same year and model at the auction. This way when the auction prices start going, you have an idea of what type of deal you are actually getting.
Try: If you plan to attend tractor auctions, look up tractor pricing in the guide available from The Motor Bookstore. Research prices for farm machinery auctions in the machinery pricing guide from Hot Line Guides.

Visit the farm equipment auction before the auction begins or on preview day

Some auctions have a preview day in which people can come to look at the items for sell. Plan to arrive early to get a good view of the item for sale before the bidding begins. Examine all of the pieces of equipment that interest you and ask questions about the hours of use on the pieces. Be certain that you know the condition of the item for which you place your bid.
Try: Search for upcoming agricultural equipment auctions and farm tractor auctions at TractorHouse.com and AuctionServices.com.

Get a guarantee on equipment purchased at online farm equipment auctions

Buying anything without seeing it first hand is risky; however, in our world of technology, many do it. While 99% of farm equipment sold at on-location auctions sells "as is," some online auctions offer a limited satisfaction guarantee. If you take part in an online auction, be certain to look for this and carefully read all of the details about payment and pick-up. Equipment sales are typically pick-up only with payment required within a specific period.
Try: Look for satisfaction guarantees at online farm equipment auctions such as EquipmentTraderOnline.com and IRON Solutions.

 

• If you are new to farm equipment auctions, visit a few auctions without intentions of buying anything. Make a note of the items and their prices. This way you will have an idea of average pricing when you do intend to make a purchase. Also consider making the most of farm equipment auctions by taking an experienced auction shopper with you.

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