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Thread: Auction Scavengers
05-05-2012, 12:44 PM #1
- Join Date
- Mar 2007
- Grand Prairie, Texas
- Blog Entries
Anyone frequents local auctions?
I know Dirty Dog does, not sure what his level is or what he specializes in.
I'm a serious auction fan, for me it's a part time job that on a good year has earned as much as a $75k profit, although this year has started off real good and might top that.
The wife and I run a cash fund for auction purchases, any profit we make is normally spent on toys and vacations since we both have regular daytime jobs to pay the bills with.
I try to stick with heavy equipment auctions since heavy equipment brings better money and sells faster but I'll buy anything I can resell, I've bought pallets of tile, pallets of wood flooring, lots of paint, crates of machinery, and 100's of vehicles over the years.
My most recent purchases were a bank lot of 6 Chevy trucks I sold in about 2 weeks for a decent profit, 18 tons of machinery I scrapped for a huge profit, and a couple days ago an insurance lot of 2 theft recovery vehicles 2011 Cadillac CTSV Black Diamond Edition and 2011 Camero soft top, I'm fixing and cleaning them both up for resale (might have to keep the Cadillac after test driving one last year).
Auctions normally offer a variety of items for sale, the key is knowing what to do with the items, like say a couple tons of machinery and spare parts I recently bought for $500, before the auction was over I had a some of the items sold to another bidder for $300, I took the remaining pallets to a local equipment yard and sold them spare parts for their equipment for another $1000, a few more parts went for $350 to one of their suppliers looking for parts, and the remaining equipment went to the scrap yard for $425.
Ended the day making an $1575 profit for 6 hours work.
All auction buys dont work out that easy but if your willing to spend time hustling theres good money to be made for a small investment.
05-05-2012, 12:53 PM #2
- Join Date
- Mar 2012
- Regina Saskatchewan Canada
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WHoot did you say auction? where ?when ?? lmao... Just got my new RBAuction flyer today.....lol ....yes i am always at them, love em it's like going to the movie in real life time,,, the people, the lots, the auctioneers its an amazing event, if you never been i suggest you go... as for buying for resale yes sometimes in the winter months i do.... but never really kept track of any profit,,, i am usually just looking for toys and things we can use, in our Business...
I really find them totally entertaining even if i come home empty handed.......
My most recent deal of the day at an auction, was a John Deer light weight Fairway cutting unit, this unit had 3000 hrs on it, it is worth some where between 59 and 65 k new from Deer, we got it for 1750.00.... once back at the shop we had to replace a switch, change the oil and filters and it will go for another 3000 hrs... Auctions gotta love them....
Last edited by Dirty Dog; 05-05-2012 at 01:23 PM.
05-05-2012, 01:38 PM #3
I've never used the Auctions as a way to turn a profit, but I do enjoy going to them. I bought my F350 at the RBAuction, and once I'm done with it in a few years, it shouldn't be hard to get as much or more than I paid for it.
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