Local on line only auction

How do they work, where do you pay, etc.

watcha gonna bid on? anything cool?

john(MI) wrote: Around here you register to bid.  When you register you provide them with credit card information.  Anything you buy will be charged to that credit card.  Then you go pick it up with the recipe they email you as proof of purchase.

???So...people put a $60,000 tractor on a credit card? Kind of doubt that or that that's the only way to pay.

jaybmiller wrote: re: So...people put a $60,000 tractor on a credit card? yes, not a problem as far as I'm concerned.

Well, I guess it depends on what our definition of "problem" is.

I don't care how people pay for something. But how many people have a $60,000++ limit on their credit card? My score is 829 last I looked, nicely placed on the median income scale, I surely don't have a card that high!

jaybmiller wrote: Personal credit card limit can be raised by you, if you want, or lowered, the CCCompany will change it for you if you want or need to. Business cards can also be higher and let's face it, if 'someone' is buying a 60K tractor, it's probably not for pleasure use, rather business ! Jay

Well yes of course. My point to John was regarding how he basically said CC was the only way. The $60000 was just a number out of the air. But once you get to the ballpark Steve mentioned, I think cc use would be way down. Personally I wouldn’t picture the ratio of people and credit limits would be right, just my feeling.

CC can turn down your request too, and if they do it could hurt your score. You’d definitely need to plan ahead.

Transaction fee starts getting steep too!

Most if not all will contact your bank and make sure your for real and your info is good and I think they kinda let the bank tell them what your good for $$$$$ wise on big items- small ones they want your credit/ debit cards to sock it to them !!  Also never set a high bid - as if the bid on an item is $850 at closing- your high bid is $1250 - guess what bid they take , yours for $1250,, at least this has been my experience 

I just bid for the first time on an online auction. When I went to see item and owner happened to be available to show. I registered, I bid. The auction company had an 18% premium. I bid 7 times increasing my own bid each time and never reached the reserve. Guess he really wanted to keep it.

yes...every on line auction company is different. i use ones that don't charge buyers premiums, and when i said i do the bank transfers...it's because it's a quicker way to get a reciept and or title. i am in very good standing with lots of auction companies and if something should ever happen, they know me and know i would never try to cheat them. Tom...i have an AC 2600 center fold disk here for sale. it needs a new wheel bearing on it, i just haven't been able to get to it yet. best dang disk this farm has ever seen! come see it. also i don't EVER put my CC # anywhere on line, nor do i leave it with anyone to use randomly.   and some of the auction companies i use have just started to do the on line bidding thing, and if i get high bid i can send them a check for it, they know my checks are good. and like i said, they are all different in how they work, it depends alot on what puter programs they use. if any questions, call the auction company and ask them to set up an account for you while on the phone, then they can answer any questions you may have. also all the auction companies i deal with...if i put in a high bid of say $1250. and it goes for $850. that is what i pay...the $850. those are the honest companies. know your auctioneers before you bid on their auctions unl you are there in person and then you still have to watch out for shill bidding from persons they have out in the crowd.  

jaybmiller wrote: re: I pull out my card, guy says, "I have to charge you 3% if you use your card." That's illegal according to the  agreement between 'merchant' and 'creditcard company'. You can lookup the details on the CC website (how to become a merchant....). I KNOW MC takes a very dim view of 'passing on the fee'. I called them , at the checkout of one store, mgr of store got an earful ! hehehehehe

I've heard of that, but I didn't think of it at the time.

Boy, for being illegal though, it sure is becoming more and more common. Wonder how they're getting by with it.

Dale did they only make the 2600 in center fold? Father in law had 1 as you said,best dang disak I ever saw. I have a 200 AC to pull 1. Dont believe I could use a center fold. Thank you. I want 1 to work up some very rough ground. Figured something heavy would be good.

 wow....18%....whew....i'd stay away from that company. highest ones around here i've seen were up at 10% and below. i was at one auction (didn't buy anything) that charged a 10% buyers premium. they were selling a dump truck and a late comer to the auction was bidding on it. went for $46,000. when he went to pay for it they tacked on $4600. to the price, he told them them he only bid the $46,000. and wasn't gonna pay that extra charge. (don't blame him) he being late to the auction and missing hearing about the buyers premium was the problem. he told them either take the extra fee off or keep the truck. they took the fee off the price! Jay...ya'll gots more money up there than we gots down here! whew! tax deductions?