re. bargains, if there is one thing better than fossicking in rubbish tips it is going to an auction house and bidding for all sorts of stuff. The assortment at general auctions is a bit like a lucky dip in that you can never really anticipate the type or quality of the offering until it comes up. The best auctions to go to though are usually the mid-week ones where he second hand dealers and 'those in the know' are at. They keep their hands in their pockets when rubbish is presented and when they bid they have a good idea of value and know their cut-off points. The worst to go to are weekend ones when the 'great unwashed' come out. They generally don't have a clue on value and get excited at the prospect of 'winning' something so often outbid what the item is worth. I went to a great auction today run by Surplus Brokers who handle merchandise (mostly brand new) from bankrupt and cash-strapped businesses. Today's auction had stuff from commercial catering supply companies, engineering companies, fishing and leisure companies amongst others. Nearly all of the stuff on offer was new in its original packaging. Given the nature of the trade/commercial offerings nearly all were multi-offerings (same item multiplied by 5, 10, 20 etc.) Now any fool and certainly the dealers can see that in a NO RESERVE auction like this it is better to sit there with your hands in your pockets and wait for the hammer to come down. If there are many items to be had you can buy at the hammer bid. Perhaps I should explain by way of example:
Auctioneer: Lot 143 is a 124 piece tool set, brand (X), trade price for this is approx. $240. Can I have a start bid of $190?
Audience: Silence.
Auctioneer: $150?
Audience: Silence.
Auctioneer: $100?, $90? ...Right, bid there for $60.
Bidder 2: $65
Bidder 1: $70
Bidder 2: $75
Bidder 3: $80
Bidder 4: $85
Bidder 1: $90
Bidder 2: $95
etc. etc. until the hammer price falls at $120.
The successful bidder at $120 is asked how many of the items he wants (there are 18 items). The answer is one. Anyone els in the room can then buy one or more of the rest at at $120.
Now if the bidders had held their breath and kept their hands in their pockets the start bid at this no reserve auction could have been $60 or less. Because a few idiots got excited the buy price has gone up.
I bid for nothing at this auction, instead crossing my fingers that the idiots didn't push the prices up too high. They of course did push the prices up unnecessarily high but with new items they still were way below shop prices. I bought, when the hammer price had fallen and there were surplus items to be had:
An electric 8" Mitre saw for $60
A 115 piece wooden train set for $70
A rechargeable camping lantern for $30
A 4-tier greenhouse (for lettuce and herbs) for $60
A 24V cordless drill for $70
Two graphite fishing lines and reels for $80
A fillet knife set for $12
A 25 hook set line for $60
A Hunter children's inflatable dinghy with attachments for $50
A 2.8m inflatable tender boat for $300
A 83 piece quality tool set in a metal case with drawers for $80
A 2.6m sit on kayak for $350
An electric outboard motor for $250
A water blaster for $100
Two sets of diver's masks, snorkels and flippers for $120
Some other items like torches, lights, scredriver sets, trailer tie-downs etc at ridiculous prices
and to carry it all home in, a 7x4 galvanised tippable trailer with cage for $1500.
Feeling a bit light headed and guilty for spending so much I also bought for Her Indoors (and the main breadwinner) an Industrial kitchen scales for $45 and an industrial vacuum cleaner for $90.
All of these items were brand new and in their original packaging (with guarantees). They were way below the normal buying price (and could have been bought cheaper if the idiots had stayed at home).
All in all a good day out and I recommend looking out for these types of auctions but be prepared to elbow the idiot next to you in the ribs when he/she gets too excited.
