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Thoughts about Auctions charging buyers fee |
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Gary Burnett
Orange Level Access Joined: 11 Sep 2009 Location: Virginia Points: 2852 |
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Posted: 08 Dec 2019 at 7:56pm |
In Virginia the state has a list if what is and what isn't taxable,auctioneer has no choice but to collect sales tax if the item is taxable or the buyer is not tax exempt.I'm tax exempt on some farm items because I farm and file a Federal Income form F,if a person doesn't farm they have to pay the sales tax.
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DougG
Orange Level Joined: 20 Sep 2009 Location: Mo Points: 7946 |
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Nope just an observation, as they pull bids out of the sky , a flick of a cig,, its a joke=====ILARIOUS RESPONSE,, as I do most of business thru CL and AT AND BI auctions sites,, and I make it done my way
Edited by DougG - 08 Dec 2019 at 7:10pm |
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victoryallis
Orange Level Joined: 15 Apr 2010 Location: Ludington mi Points: 2857 |
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Examples of why or are you upset because it’s not done your way? |
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8030 and 8050MFWD, 7580, 3 6080's, 160, 7060, 175, heirloom D17, Deere 8760
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victoryallis
Orange Level Joined: 15 Apr 2010 Location: Ludington mi Points: 2857 |
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Who? Sykora doesn’t on farms, last I knew Sheridan and Schrader don’t. While since a Medema sale for me. |
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8030 and 8050MFWD, 7580, 3 6080's, 160, 7060, 175, heirloom D17, Deere 8760
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DiyDave
Orange Level Access Joined: 11 Sep 2009 Location: Gambrills, MD Points: 50528 |
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Know what's worse than tax on your bill? Tax, on the buyers penalty. In MD Labor is not taxed, so technically, they should be charging tax on the amount that you bid, not what you bid plus the buyer's penalty, and then the tax on top of that! You can bet that they are pocketing the difference!
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DougG
Orange Level Joined: 20 Sep 2009 Location: Mo Points: 7946 |
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Back in the day an auctioner used to mean something- as a law abiding citzen,, now they are just back stabbing crooks
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ac fleet
Orange Level Joined: 12 Jan 2014 Location: Arrowsmith, ILL Points: 2204 |
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Byers fee???----sonny goes back home!! F*&# them bastards!! --- Made a few guys mad, but I don't care. First auction that I ran into this crap, I had went to pay up on purchase when lady starts talking bout adding "byers fee" to the total amount!--I then hit the desk with my fist and told her to cancel the order , and turned to walk out!---one of the auctioneers saw the scene and told her that I was exempt! ---NEVER went to another one of their auctions! If they cant live on what they get, then get out of the auction business!
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jaybmiller
Orange Level Access Joined: 12 Sep 2009 Location: Greensville,Ont Points: 21466 |
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sales tax... yup, up here it's 13% compounded on top of the buyers premium on top of the 'sold' price. ALL businesses HAVE to charge it.....
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3 D-14s,A-C forklift, B-112
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OldAC
Bronze Level Joined: 01 Feb 2018 Location: Rural Michigan Points: 168 |
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One thing that really annoys me is auctioneers around here are starting to charge SALES TAX!!!! They are just an agent for the private seller or estate. I won't go to a sale that does.
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Sugarmaker
Orange Level Joined: 12 Jul 2013 Location: Albion PA Points: 8167 |
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Folks,
I attended a household auction for a family member. I seen a wood stove in the corner of the garage. Sale was about over and the stove still set there. I asked the auctioneer about it and he said "Oh I was saving that for one of my helpers that wanted it!" From then on I labled him as a crook, and told every one I knew also.
I also remember a auction he was doing for a friend. The day was a scorcher and these hand tools were setting in typical old shallow carbord boxes in the hot sun, and were handed up to him to sell as a package deal. I seen him more than once reach in and grab up a tool, just to drop it like a hot poker in a second, and say "dam that's hot!" Not sure he was the sharpest of the local auctioneers! He is now dead! I think where he went, the tools are always HOT! Regards, Chris |
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D17 1958 (NFE), WD45 1954 (NFE), WD 1952 (NFE), WD 1950 (WFE), Allis F-40 forklift, Allis CA, Allis D14, Ford Jubilee, Many IH Cub Cadets, 32 Ford Dump, 65 Comet.
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IBWD MIke
Orange Level Joined: 08 Apr 2012 Location: Newton Ia. Points: 3445 |
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Not a fan of that either! Have a couple of auctioneers in central Ia. that if an item won't start where they think it should tell their clerk, "mark it to me". Pretty phony if it is an 'absolute' auction.
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TimNearFortWorth
Orange Level Joined: 12 Dec 2009 Points: 2014 |
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I want to hear a number as they go when I attend an auction.
Seems more and more have auctioneers that are more interested in confusing everyone with "BBBBZZZZZZZZZZZZZ" jibberish so you can't tell where they are currently at, then, "SOLD!". Urks me when you see the same folks at these auctions continuously and it doesn't take long to figure out the shills or the house taking care of their buddy buyers when something barely get's started and it's "sold!" within 30 seconds. It is worse at cattle auctions IMO and I stopped the bidding on 8 young heifers and a couple cows I ran thru an auction house just yesterday. Pi$$ed em' off when I shouted to stop and show everyone just who had the last bid, and they couldn't on a group of five of mine in the arena.
Had a good chat with the auction house owner after the sale (behind closed doors in his office) and I told him it stops or I would not be bring anymore cattle to his place. Let him know that folks were shaking their heads and laughing up in the stands, and that he needed to hire an auctioneer that didn't sound like he had a vibrator in his mouth as you had no idea where the numbers were or what animals actually sold for. Also let him know that I knew his folks were bidding and he admitted he had bought a number of my animals himself for his own personal ranch. He apologized and deducted all fees on my invoice for yardage, chute, preg check and aging, then had the office cut me a new check. At equipment auctions, I tend to walk when they get nasty in their tactics. Auction Time had numerous people calling me during the last 30 minutes of an online auction for a late 185 a few years ago, "you need to bid again or you are gonna let it get away!". Done with those clowns, never again.
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ryanschott
Orange Level Joined: 10 Apr 2010 Location: michigan Points: 594 |
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i Also don’t like when an auctioneer will bid against you so they can sell it at there farm lot
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John (MO)
Orange Level Joined: 16 Sep 2009 Location: NEMO Points: 202 |
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I have no problem doing the math to figure how much I have to reduce my bid to not go over the maximum I've set for myself on an item. The less people that show up for an auction the better for me as a buyer. I wish no one else would ever go to one of those crooked auctions, the deals would be much better for me.
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DiyDave
Orange Level Access Joined: 11 Sep 2009 Location: Gambrills, MD Points: 50528 |
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I went to a consignment sale, today, about 60 miles away. Main reason I went, was I had a road grading job to look at, nearby. Farrell auctions just lost me from any future auctions they may have...
Strike 1: Wrong town listed, in the address. Strike 2: Didn't advertise that they had a buyers penalty. Strike 3: Didn't start on time, with the 4-7 auctioneers, like the ad stated. I have weeded them out, from my existence...
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ACCURT
Bronze Level Joined: 15 Dec 2018 Location: minnesota Points: 8 |
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There is a auction company near where I live that has online bidding and you need to have a credit card set up online before you could bid on any item,and they charged $1 each time you bid regardless if you had the high bid or not! What a bunch of crooks!They changed that policy not long after. I'm guessing they had to if they wanted to stay in business!
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Ray54
Orange Level Access Joined: 22 Nov 2009 Location: Paso Robles, Ca Points: 4346 |
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Jay be careful what you think the lazy but gready are always looking for new ways into your and my pocket. Who knows who is eves dropping on your thoughts.
Well I guess it has not gotten to where you have to pay to look. But a add I saw said "BIDDERS NUMBERS $100 refundable with purchase". Nothing like a little more pressure to buy to get your money back. Cannot say paying as a buyer makes me want to go buy. But if the price is right it's still a deal. But if they don't advertise it before hand..................that is crooked probably a law against it.
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rw
Silver Level Joined: 28 Oct 2009 Location: United States Points: 377 |
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I bought a couple pieces at an auction 25 years ago and the auctioneer took his percentage right there as I was settling for my items. He took a few of the checks and some cash and left the seller with the rest. That is what I saw happen and it sure seemed odd. Maybe it is a common practice or didn't understand what i saw. It made a lasting impression for sure.
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PeteMN
Bronze Level Joined: 12 Sep 2009 Location: Hutchinson, MN Points: 192 |
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There's an auction company near Osseo, Mn that used to charge people to get in. They would get a bunch of cheap Harbor Freight type chinese tools, electric cords, etc. They'd get people to bid the item up to more than it cost and then they'd say "sold", who else wants one for that price?" and hand out a dozen of them to the people who figured that as long as they were there they might just as well buy something. They'd have a few name brand industrial items that they probably brought in to draw in bidders. More than likely they had a few shills in the crowd to bid people up and to buy the name brand items back. My brother said one trip to see that circus was enough, he wouldn't have gone in the first place except our BIL just had to go to that "tool" auction.
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Gary Burnett
Orange Level Access Joined: 11 Sep 2009 Location: Virginia Points: 2852 |
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At some auctions i go to I wish they did charge admission,would weed out all the guys that crowd right up to the auctioneer and never bid on anything.
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jaybmiller
Orange Level Access Joined: 12 Sep 2009 Location: Greensville,Ont Points: 21466 |
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buyer's premiums are like carbon taxes, getting something( OUR money) for nothing. I've yet to see any real 'deals' up at Bryan's Auctions, though you have to look online before it closes.After that the sold prices disappear,wondering hmmwhat did that actually sell for ? Pretty soon they'll want a buyer's bidding fee, say $15 just to get in !
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3 D-14s,A-C forklift, B-112
Kubota BX23S lil' TOOT( The Other Orange Tractor) Never burn your bridges, unless you can walk on water |
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200 10and20
Orange Level Joined: 20 Jun 2019 Location: Tim Buk Tu Points: 217 |
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PeteMN
Bronze Level Joined: 12 Sep 2009 Location: Hutchinson, MN Points: 192 |
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Oh the horror, all the people that think the world is coming to an end because the auctioneer has a buyer's premium. If it was such a problem then the real estate industry would have gotten rid of it by now. Apparently there are still enough people around to bid at buyer's premium auctions because there are very few bargains. Online auctions require more photos = more work and in many cases bring in more bidders so its reasonable for the auctioneer to charge more -- how much more is the sticky question. There are some exceptions, but sometimes the auctioneers that don't charge a buyer's premium are lousy auctioneers that can really screw a sale up, sometimes you get what you pay for. Hand held calculators cost about $3 for those who are math challenged.
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Gary Burnett
Orange Level Access Joined: 11 Sep 2009 Location: Virginia Points: 2852 |
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Well I hope none of you here ever go to a car lot and think you're going to pay the price that is quoted for a vehicle especially a name brand dealership.You get hit with a buyers premium and it wasn't an auction.(LOL)
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Sugarmaker
Orange Level Joined: 12 Jul 2013 Location: Albion PA Points: 8167 |
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I like auctions. I go to several a year. Mostly to visit with freinds of meet folks interested in old stuff.
When they start putting the buyers premium on the coffee and hot dogs, I am done!:) Regards, Chris
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D17 1958 (NFE), WD45 1954 (NFE), WD 1952 (NFE), WD 1950 (WFE), Allis F-40 forklift, Allis CA, Allis D14, Ford Jubilee, Many IH Cub Cadets, 32 Ford Dump, 65 Comet.
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wekracer
Orange Level Joined: 13 Oct 2009 Location: Tebbetts, MO Points: 1587 |
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I don’t disagree with any of what you said. My only issue is that the seller gets to choose which auction company he uses. If he chose a company that charges buyers premium and gets less money that’s on him. I’m not saying I like it. But I don’t like seeing one price on the shelf and then adding sales tax at the register either. I don’t know what commission is for a traditional auction but there’s not much difference between 15% on the front end and 10% on the back end. Either way the auctioneer gets paid Edited by wekracer - 06 Dec 2019 at 8:23am |
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injpumpEd
Orange Level Access Joined: 13 Sep 2009 Location: Walnut IL Points: 4768 |
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You are right Rod, it does hurt the seller, because look here how many said they won't even attend, or log in to auctions that charge a buyer's premium. I'm old school, and feel if someone wants to sell something, it's their responsibility to cover the fees in doing so. I've never once put a for sale ad in the paper, and when someone came to buy my item, for the asking $100 for example, then I tell them, well, since you found my ad in the paper, it will cost you another $10 for that ad. lol! Sounds pretty screwed up to me. It must be ok, they are all doing it, right??? NO! The explanation about splitting the fees between buyer and seller makes as much sense as anything.
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210 "too hot to farm" puller, part of the "insane pumpkin posse". Owner of Guenther Heritage Diesel, specializing in fuel injection systems on heritage era tractors. stock rebuilds to all out pullers!
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rodnil
Silver Level Joined: 15 Sep 2009 Location: illinois Points: 241 |
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So you do the math , that's one way of looking at it I guess. Bottom line is the seller is on the loosing end. If a tractor is worth $5000.00 and the buyers fee is 10% and you want the tractor. Doing the math; you stop bidding at $4500.00. Now lets say you won the bid, you got the tractor at the price you wanted to pay $4500 + $450 buyers fee = $4950. $50.00 less than you thought it was worth. Who lost ? THE SELLER !!! My point is that we , myself included , are doing the math and bidding less. My youngest son and I went to an auction to by a tractor the Auctioneer gave a good speech why his auction company does not will not charge a buyers fee. Those attending , my son and I included, all bid knowing when the bidding was none we knew what we were going to write the check for. And we took the tractor home that we came to buy. Just some of my thoughts. I still feel the seller is coming up short in the deal.
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Flyer
Silver Level Access Joined: 11 Sep 2009 Location: TN Points: 456 |
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It's a variation of the "no-interest" loans the car companies use. You have the choice of the manufacturer and dealer discounts with a normal loan or no discount with a no-interest loan. The interest they would get on the regular loan is then contained in the principal of the no-interest loan. The bottom line number (assuming you don't pay the interest-carrying loan off early) remains roughly the same. In the end, I'm paying $x including fees and taxes. How that gets divided between the auctioneer, the seller, and the state doesn't much matter to me.
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An optimist sees the glass as half full. The pessimist sees the glass as half empty. The engineer sees a glass with double the required capacity.
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DougG
Orange Level Joined: 20 Sep 2009 Location: Mo Points: 7946 |
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As someone wrote - every time you buy something at auction you pay the auctioner- YES that's how they get paid !!!! Its the initial add on 10% that they get is the joke, I have to want something pretty bad to pay a buyer premeium,,
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