Try an auction for savings

hboy43 · 10-21-2009, 09:05 PM

Hi:

I have been frequenting auctions recently and great deals can be had on things. Many utilitarian items go for a song: things like linens, kitchen gear, books, hand tools.

Some recent examples of my purchases:

Four 3/8 inch chuck hand drills for $2. Thats $2 for all of them. Three worked.

Piles of blankets and sheets for $1. I haven't looked too closely yet, but I'd say I have at least a half dozen sheet sets and a half dozen blankets for my $2.

A selection of books $2 each.

Of course there is always some regretable buys too. Like the time I was biding on some metric combination wrenches. Problem was, they weren't a set, there were four 19 mm and four 23 mm. A complete waste of money.

One can do well on bigger purchase too. I picked up a plow and disc cheap the last time out.

Sometimes things go for silly prices. Often I want something for utilitarian purposes, but am bidding against collectors. I wanted an apple press and would happily have paid $100, but two women bid it up to $450. Clean, new non rusted apple presses can be had for about the same money.

You do have to be prepared to make a day of it though, so it is best if you enjoy the hunt and the social aspect. If you can work an extra shift that day, the job is likely the better economic choice.

I am reporting on my experiences with rural, mostly estate auctions. I have no idea how it works in the city.

hboy43

Alexandra · 10-22-2009, 08:18 AM

Interesting idea. I have never attended an auction, although there is an auction house right up the street from where I live (in the city). My impression has always been that they deal in luxeries - art, jewlery, collectables, etc. I didn't know they had regular household items there.

But maybe that's the difference between a rural and city auction?

Ben · 10-22-2009, 08:43 AM

My wife's been itching to go to a country auction for a while now, and I think I'd rather enjoy it myself. Fair chance of picking up some interesting items and useful tools on the cheap.

Probably do quite a bit better in a country setting. The sellers have lower expectations, and the buyers are more conservative with money.

CanadianCapitalist · 10-22-2009, 10:18 AM

I've been to a few of these estate auctions hunting around for ivory carvings, which I collect. It does seem that you can buy used articles very cheap -- I've seen silver utensils go for a song and so many items attracting no bids at all. But then you also have to be careful not to get too excited and end up going home with a large pile of stuff.

brad · 10-22-2009, 12:49 PM

Yes, I would echo CC's warning.

The danger of auctions is that you aren't generally going there to find a specific item you need, because unless you've seen a preview you don't know what's going to be available. That paves the way for impulse buys; you can end up picking up a bunch of stuff that you think you might need someday but never end up using.

I prefer the "surgical strike" method of shopping: I wait until I need something, find out where I can get it, go there and buy the thing and leave.

ChrisR · 10-22-2009, 06:32 PM

I'm looking for new dining room furniture and my dad suggested I try a furniture auction. At first the idea itself was enough to make my jaw hit the floor.

I can't even count the number of friends I know who have filled their homes with brand new furniture, only to replace it all 5 years later when they moved into a bigger home (or sometimes just because it wasn't stylish enough). Where does all that furniture go? Does anyone here have any experience with the lightly used (but not antique) furniture market? Has anyone ever purchased furniture from an auction? How were the prices?

brad · 10-22-2009, 08:38 PM

I haven't bought furniture at auctions, but a sizeable portion of my furniture was purchased at flea markets and yard sales. You have the advantage there that prices are not generally bid up, but rather down ;-)

I have an excellent desk here that I bought for $25, a set of four wooden chairs that I got for $40 total and have been using for the past 25 years, an old elementary school library card catalogue that I got for free (I use it to store my old cassettes, which fit perfectly), and a few bookcases that I picked up for $15 or $20 each. I also bought a pocket watch at a flea market in the mid 1980s; it was made in 1910 and restored by a hobbyist; I've been using it ever since (until I got a cellphone, which now serves as my watch) and it keeps perfect time. It cost me $30.

Flea markets and yard sales are great ways to get decent stuff for very cheap. Again you have to watch out for impulse buys, but with furniture you usually know what you need and can spot it sitting out there at a yard sale when you drive by -- most of my furniture was purchased that way.

My stepmother once asked me before the holidays what my "decor" was, since she wanted to get something that matched our home...my reply was "Early Attic." It's good, solid stuff, though, and I doubt I'll ever have to replace any of this furniture in my lifetime.

Berubeland · 10-22-2009, 10:05 PM

http://www.rbauction.com/index_ind.jsp

In Toronto I have been to the equipment auction with my Dad. They have so many different things there not listed. You never know what you find. It's amazing.

Of course there's heavy equipment but for regular folk there's things like lawn mowers, snow blowers, chain saws, tools. It's neat just to walk around

Oldroe · 10-23-2009, 09:01 AM

The best prices at auctions are sunny days. Every farmer goes to the auction on rainy days.

Ben · 10-23-2009, 10:58 AM

Quote:

Originally Posted by Oldroe

The best prices at auctions are sunny days. Every farmer goes to the auction on rainy days.

That's an interesting angle!

10-21-2009, 09:05 PM	#1
hboy43 Junior Member Join Date: May 2009 Posts: 26	Try an auction for savings Hi: I have been frequenting auctions recently and great deals can be had on things. Many utilitarian items go for a song: things like linens, kitchen gear, books, hand tools. Some recent examples of my purchases: Four 3/8 inch chuck hand drills for $2. Thats $2 for all of them. Three worked. Piles of blankets and sheets for $1. I haven't looked too closely yet, but I'd say I have at least a half dozen sheet sets and a half dozen blankets for my $2. A selection of books $2 each. Of course there is always some regretable buys too. Like the time I was biding on some metric combination wrenches. Problem was, they weren't a set, there were four 19 mm and four 23 mm. A complete waste of money. One can do well on bigger purchase too. I picked up a plow and disc cheap the last time out. Sometimes things go for silly prices. Often I want something for utilitarian purposes, but am bidding against collectors. I wanted an apple press and would happily have paid $100, but two women bid it up to $450. Clean, new non rusted apple presses can be had for about the same money. You do have to be prepared to make a day of it though, so it is best if you enjoy the hunt and the social aspect. If you can work an extra shift that day, the job is likely the better economic choice. I am reporting on my experiences with rural, mostly estate auctions. I have no idea how it works in the city. hboy43 Last edited by hboy43; 10-26-2009 at 10:00 PM. Reason: that's disc not disk

10-22-2009, 10:18 AM	#4
CanadianCapitalist Administrator Join Date: Mar 2009 Location: Ottawa, Ontario Posts: 886	I've been to a few of these estate auctions hunting around for ivory carvings, which I collect. It does seem that you can buy used articles very cheap -- I've seen silver utensils go for a song and so many items attracting no bids at all. But then you also have to be careful not to get too excited and end up going home with a large pile of stuff. __________________ Canadian Capitalist -- A Canadian Personal Finance Blog

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

10-22-2009, 08:18 AM	#2
Alexandra Senior Member Join Date: Apr 2009 Location: Toronto Posts: 130	Interesting idea. I have never attended an auction, although there is an auction house right up the street from where I live (in the city). My impression has always been that they deal in luxeries - art, jewlery, collectables, etc. I didn't know they had regular household items there. But maybe that's the difference between a rural and city auction?

10-22-2009, 08:43 AM	#3
Ben Senior Member Join Date: Apr 2009 Location: GTA Posts: 267	My wife's been itching to go to a country auction for a while now, and I think I'd rather enjoy it myself. Fair chance of picking up some interesting items and useful tools on the cheap. Probably do quite a bit better in a country setting. The sellers have lower expectations, and the buyers are more conservative with money.

10-22-2009, 12:49 PM	#5
brad Senior Member Join Date: May 2009 Location: Montréal Posts: 594	Yes, I would echo CC's warning. The danger of auctions is that you aren't generally going there to find a specific item you need, because unless you've seen a preview you don't know what's going to be available. That paves the way for impulse buys; you can end up picking up a bunch of stuff that you think you might need someday but never end up using. I prefer the "surgical strike" method of shopping: I wait until I need something, find out where I can get it, go there and buy the thing and leave.

10-22-2009, 06:32 PM	#6
ChrisR Member Join Date: Jul 2009 Posts: 45	I'm looking for new dining room furniture and my dad suggested I try a furniture auction. At first the idea itself was enough to make my jaw hit the floor. I can't even count the number of friends I know who have filled their homes with brand new furniture, only to replace it all 5 years later when they moved into a bigger home (or sometimes just because it wasn't stylish enough). Where does all that furniture go? Does anyone here have any experience with the lightly used (but not antique) furniture market? Has anyone ever purchased furniture from an auction? How were the prices?

10-22-2009, 08:38 PM	#7
brad Senior Member Join Date: May 2009 Location: Montréal Posts: 594	I haven't bought furniture at auctions, but a sizeable portion of my furniture was purchased at flea markets and yard sales. You have the advantage there that prices are not generally bid up, but rather down ;-) I have an excellent desk here that I bought for $25, a set of four wooden chairs that I got for $40 total and have been using for the past 25 years, an old elementary school library card catalogue that I got for free (I use it to store my old cassettes, which fit perfectly), and a few bookcases that I picked up for $15 or $20 each. I also bought a pocket watch at a flea market in the mid 1980s; it was made in 1910 and restored by a hobbyist; I've been using it ever since (until I got a cellphone, which now serves as my watch) and it keeps perfect time. It cost me $30. Flea markets and yard sales are great ways to get decent stuff for very cheap. Again you have to watch out for impulse buys, but with furniture you usually know what you need and can spot it sitting out there at a yard sale when you drive by -- most of my furniture was purchased that way. My stepmother once asked me before the holidays what my "decor" was, since she wanted to get something that matched our home...my reply was "Early Attic." It's good, solid stuff, though, and I doubt I'll ever have to replace any of this furniture in my lifetime.

10-22-2009, 10:05 PM	#8
Berubeland Senior Member Join Date: Sep 2009 Location: Toronto Posts: 775	http://www.rbauction.com/index_ind.jsp In Toronto I have been to the equipment auction with my Dad. They have so many different things there not listed. You never know what you find. It's amazing. Of course there's heavy equipment but for regular folk there's things like lawn mowers, snow blowers, chain saws, tools. It's neat just to walk around

10-23-2009, 09:01 AM	#9
Oldroe Senior Member Join Date: Sep 2009 Location: Ont. Posts: 168	The best prices at auctions are sunny days. Every farmer goes to the auction on rainy days.