My Day at the Farm Auction!

Welcome to the largest farm consignment auction on the East Coast! (at least that’s how the Whitney Point Spring consignment auction is advertised). I spend a day showing you around a farm consignment auction, looking at the interesting equipment for sale, and explaining how auctions work. I even buy what I was looking for at the end of the day!

Note:
-We do not offer farm tours
-We do not ship our farm’s products

Facebook: https://www.facebook.com/Just-a-few-acres-farm-187074114794963/

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To order Pete’s book; “A Year and a Day on Just a Few Acres:” https://www.amazon.com/Year-Day-Just-Few-Acres/dp/149549957X/ref=sr_1_1?crid=2NM8AQPCG3IT5&dchild=1&keywords=a+year+and+a+day+on+just+a+few+acres&qid=1587327049&sprefix=a+year+and+a+day+on+just%2Caps%2C183&sr=8-1

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50 thoughts on “My Day at the Farm Auction!

  1. I know where there is a diesel 706 has the 310 but it's had a M&W turbo put on it good rubber starts good runs good everything works but has a leaking head gasket that I think can be bought for $2500

  2. My apologies but I must correct you the international engine is not a hit and miss it is a throttle governed I have several of them including the rare 10 horse with a Waco magneto

  3. Our auction company doesn't have a buyers premium and people love that. The thing is, people are going to pay what they can afford anyway. The auctioneer can collect that up front this way, or just get commission off the sales. No buyers premium makes everything simple and happier buyers, which makes for higher purchases from what we have seen.

  4. I went to a 4-H fair goat auction (my 4 kids each were selling a goat they raised and entered in the fair, a mandate to be able to sell, in fact, in our county, in Ohio, you must sell your goat.) and was trying to get my sister's attention, and the bid spotter thought I was bidding on my own child's goat! I told him I've already paid for it once, I'm not trying to buy it again! Lol. Point is, you have to.be very careful of any movement you make at an auction; you may end up buying something you didn't intend to buy! Lol!!!?

  5. My father's friend is an auctioneer, the reason they start high is because if it's say 20k starting and they drop it down to 10k you feel like your getting a better deal so are more likely to bid and pay more

  6. Thanks for the overview! I’m closing on 30 acres at the end of the week. I’m going from a subdivision to the “farm”. Gonna need some stuff. Been watching auctions for tractor and UTV…this has been helpful.

  7. I think auctioneers start high to take advantage of a psychological effect called "anchoring," where people's assessment of the "correct" or "fair" value is irrationally influenced by the first number they hear. Even if they consciously reject that first number ("20,000? no way"), they will end up agreeing to a higher price than if they'd first heard a lower number.

  8. The first number they call out is called “Anchoring”, you are setting into the mind of the crowd what the ballpark expectation is for a sale price of the widget they are selling.

  9. at 20.22…. i feel sorry for your friend, he seems to have had quite enough of all this… No hamburger is gonna solve that! He wants to go home to a warm fire. And now you need to drive home slowly with that old rustbucket attached? Wow…

  10. 6:17 This might be similar to what I used to tumble compost down to usable size pieces. I made a stationary piece powered by a small gas engine using a drum made with expanding metal. Back a trailer or truck underneath and let it spin, compost gets ground down to small bits that fall thru the screen. Very handy.

  11. I once went to auction, i want to buy a few items, I got into a bidding war with a few other people, I said to myself, they are not going to beat me, I did not let them but I paid the prove for been silly

  12. I worked for an auctioneer. The reason for the mixture of different things in the middle is to hold the crowds interest. For example you might be interested in old tractors but another person might be interested in newer tractors or trucks or bailers. By selling a truck, then a old tractor then a manure spreader then another truck the auctioneer keeps everyone in the crowd. If he sold a line of tractors for example one after another, the truck people and the bailing machine/manure spreader people would start walking away. Some of them wouldn't come back. It's all about controlling the crowd and keeping them with the auctioneer.

  13. They give that high figure first because consciously or subconsciously it's going to set a baseline price in the mind of the bidders and now anything lower seems like better value. There's a term for it in psychology that I've been trying to remember the last 10 minutes without success. Maybe someone else can help us out there.

  14. The auctioneer always starts high to set the end price. That’s the goal. I worked for an auctioneer for years and learned their cantor and tactics. Often, you can see a sparrow bid. It’s rare, but it happens.

  15. Thank you for that, Pete. Machinery auctions are so similar where ever we live. You could just as well have been in my country, Ireland, at one. You are so right about on line or phone bids. They all may be legit. but there is always that “hmmmm, I wonder”. Sometimes, we loose our sanity at auctions and bid for items we do not really need, or sometimes overpay beyond the value.
    I really enjoyed this day out with you. 👏👏👏

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