Bid incriments are $5.00 from $250.00 to $500.00. Previous bidders bid $351.75. you get it at end of auction at $355.00 even though your bid is only $3.75 more.
bill
I did not know the bid increments so that helps, still who bids 351.75. Still seems strange but Ok, thanks
In the past few weeks I haven't been able to post, but I have won probably 30 to 50 or so auction lots. I rarely bid last minute, or even last day. Many of the places I bid just extend the auction time if a last minute bid is made. That is personal stuff, not work related.
Most people like even increments. If I think a tool will go for $15, I'll bid $15.24.
You get a feel for it, but bidding is what I do for a living. At work most think you can't be the high bid and still get the job. The truth is far from that. I think over half my work is a slightly higher, 4-6% up to 10% higher, than my competition. Many times I know all my competitions prices prior to bidding, that way I don't leave money on the table unnecessarilly.
Customers are looking for best value, and that is what I am interested in giving. Often enough there is a stupid bid out there. I can't do anything about that.
Additionally, if there are multiple bidding general contractors on a project, I can't give my best price to everyone. It doesn't cost the same to work for everyone. If they have bad superintendants, or manage their jobs poorly, my price to them has to be higher than it is to their competition.
All of the above goes double for private auctions. I would rather pay10-20% more for tools from, say, wvtools or some others who sell that we know within this group (not that I would have to pay more) than someone I don't know. I know his tools are in good shape and well described, I know him from here, and I know he will be fair with shipping and handling. IMHO premium service and a trouble free transaction is worth paying a premium price.
But, most of my tool buying is from estate sales or auctions or thrift stores. You get a feel for that venue as well. If someone did me a dirty on an auction I might spend a lot of money to get even. The ones that kill me often complain about price if it is something they want, or will complain about profit that someone else is making. The same people would jump at an obviously underpriced tool at a garage sale and be happy with it.
Last Friday I was at a garage sale. After selling me some tools (at a great price) the older man went in and dug out some mineral related books and specimens. The transaction went like this - Me: "How much do you want for it?" Him: "I'm not sure, it was my father-in-laws stuff. How about $20?" Me: "I've been looking for that Dana book - I'll give you $25, the Dana book is worth $20" Him: "You don't know how this is done." And, jokingly: "How about $5.00?" I honestly do not know whether I paid $20 or $25 when he tallied the total.
Sometimes it is just plain fun.
I won't bid up friendlies (usually.) Life is too short, and after all, money is just a value we give it (it isn't real) and stuff is just stuff. If I have extra stuff, and someone else needs or just wants it, I give it to them. I have benefitted enough in my life that I couldn't ever catch up, anyway.
Chilly
