The SJF chili competition was a big success! We had three entrants this time around. Lori Foster brought a red chili made with mostly home-grown ingredients. Vance Haugen entered a delicious red chili, and Craig Fasching brought another small pot of excellent red. Kent Powell brought home-made corn bread to compliment all of the entries. ‘Fixins were provided by SJF.
After all of the chili was tasted, the final vote count was as follows:
Vance Haugen: 9
Lori Foster: 4
Craig Fasching: 3
Making Vance the winner(…this time).
An Addendum: There were to be four entries in the contest this year, however one of the entries made it only as far as the front door of SJF. A certain owner of the company (his first name rhymes with Tank) forgot about the tupperware bowl full of chili in his briefcase. As he entered the building, briefcase in hand, he wondered aloud what smelled like chili before realizing that it was the entire contents of his bag.
An Insider’s Guide to the parlor tricks auctions use to separate you & your money.
In my previous two articles on auction buying secrets, I have exposed the common ways that auction houses get the pigeons to part with their money and actually buy (some of) the junk they are selling. In part three, I’ll discuss some common practices that I have come to rely on that usually drastically increase my chances at paying less and getting more.
Tip #1: The Devil is in the Details
Every auction starts and ends with paperwork. 99% of all of the people at the auction never read the fine print at the bottom of the terms and conditions of bidding at registration time. These terms will lay out ALL of the costs that will be associated with bidding on and purchasing items at this particular auction. Extra expenses that most auctions include that will be tacked on over and above your winning bid prices can include but are not necessary limited to:
Sales tax (This can be an additional 3 to 13%.)
Buyers premium (Often 10% to 15% or more)
Many of the details that will affect what you can afford to bid will be determined by what is in those terms and conditions. It’s vital that you think through these details before you even bid as they can greatly increase the cost of the equipment to much more than it’s worth.
Points to think about:
Is the equipment being auctioned still standing/installed?
If so, Who will be responsible for the removal?
If it’s you, the buyer, what will it cost to get it removed?
Is there a deadline for removal?
If so – what are the penalties or consequences if it’s not removed within before the deadline?
Will you lose ownership of the material?
Will you be fined?
Will it be removed for you at an exorbitant expense that you will be responsible for?
Can you remove it yourself or must you use a pre-designated removal crew?
If so – what will they charge?
Do they have to be certified? Union?
When, with whom, and how will you remove and/or load the equipment?
An Insider’s guide to the parlor tricks auctions use to separate you & your money.
In part 1, I reviewed the 4 very simple auction facts that most insiders don’t want you to know.
Auctions are designed to sell stuff. All. The. Stuff. Good, bad and even really bad stuff.
Auctions are designed to sell items for more, not less, than it’s really worth.
Auctions are designed to confuse you into making bad decisions and mistakes.
Auctions are designed to get as much of your money as fast as possible with no possibility that you can ever get it back. (This is all done completely transparently and 100% legally.)
In part 2, I’ll expose these top 4 auction secrets that net more and more pigeons every day. Here’s the good news. After you read this article, you’ll trade in your pigeon wings to some other sucker standing next to you who didn’t read it.
Let’s start with the basics…
(1) Auctions are designed to sell stuff. All the stuff. The good, bad and even really bad, stuff.
The main purpose of any action is to sell all the stuff. This includes all the good stuff, but what we’re concerned with here is all the bad stuff (I’m talking about the broken, manufacturer is out of business stuff). The next priority is to get the most money possible for the stuff on sale. The more bidders bidding the better the chances that the seller will obtain higher bids.
All auctions are comprised of good and bad stuff. The good stuff is purposely dispersed evenly among all the bad stuff (filler) to keep as many people engaged for as long as possible. Unfortunately for you, they don’t have tags or any sign saying what’s good and what’s bad. Mixing the good and bad stuff together assures a steady stream of bidders from the beginning to the very end of the auction.
An Insiders guide to buying the jewels while avoiding the junk at auctions.
Everyone likes a deal right? There’s always that chance that you’ll get something for nothing. You too can pay pennies on the dollar for prime merchandise. No other place gives the little guy the buying power of the professional than an auction…right?
Not unless you believe in fairy tales!
I’ve been buying used material handling equipment at auctions for over 30 years. Over that period of time I have purchased literally hundreds of thousands of dollars of equipment. The art is to find, bid for and buy the hidden jewels amongst a wide variety of worthless junk. I am about to share some of my best personal insights and advice on how to avoid ending up with the junk and avoid the parlor tricks designed to get you to overpay for the good stuff.
The material handling industry, as discussed in this article, represents a whopping 50-billion dollar/year business in the U.S. alone. Even so, very few people know everything necessary to make optimal buying decisions. Some people in the industry like it this way, but in this article, I’ll reveal some of the secrets these dealers don’t want you to know. I have been in this industry for over 30 years and I have learned many things that I think you, the customer, ought to know. Though I wont tell you what decision to make, I’ll give you the tools to make the right decision.
I’d like to take a minute to introduce readers of this blog to a friend of mine in the blogosphere and a fellow Minnesota material handling company. DJ Products is a Minnesota based ergonomic material handling products company whose line of motorized carts is well known in many industries. They offer a full line of push carts, a power mover, a tugger, a trailer mover and other ergonomic powered carts to fit a variety of needs within a number of specialized industries.
Their products range from pulling and pushing industrial carts, hospitality & hospital carts and shopping carts all the way to pulling, pushing and moving cars, trucks & trailers. Needless to say, these carts have some serious power.
In addition to their product line, Jeff authors an industry material handling and ergonomics blog that is full of great tips, industry specific information, case studies and more. I can highly recommend this blog as an excellent resource for material handling and logistics information.
So do yourself a favor and add this one to your reading list. You wont regret it.