Building Supply Auctions: Are These People Nuts?

Building Supply Auctions: Are These People Nuts?

Member since 2008 · 22 posts · 5 votes

I guess auction fever took over because the buyers where bidding at or above retail for material, before tacking on a 10% buyers fee. I know people associate auctions with "great deal" but at the prices people were paying it seemed as if they've never priced out sinks, toliets, tile, flooring, even tools. And the kicker was none of the stuff was all that good. It would be perfect for rentals, but not at the prices these boobs were paying. Perhaps they don't have a discount building supply store near them, as that is the ONLY reason I could see for being so clueless.

Anyways, has anybody ever had any luck with going to something like this. It was my first one and probably my last one, as I wasted five hours of a perfectly good Saturday. And I left early. I just couldn't believe the prices, so I figured when they get to the popular stuff (naturally left to the end) it would be bid up to crazy levels anyway.

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  • Loveland, CO · Member since 2008 · 1k+ posts · 123 votes
    19y

    I have two acquaintances that are auctioneers, one still active the other pretty much retired. The more commonplace somethings is; tools, general household items, the more likely it is to be bid up to and over retail. "Unique" items, or something that the average person knows little about can sometimes be boght cheap enough to resell on ebay (I have another friend who does this with sewing machines).

    I was at a HUD live auction and saw a couple of houses sell at auction for 10% more than the they could have been bought off the MLS that afternoon. And another 5% buyers fee on top of that!

    all cash

  • Member since 2008 · 22 posts · 5 votes
    19y

    I would love to be one of the vendors who had items to sell there! I, as well as others associate auctions with deals, but I guess that mindset applies to auctions that aren't attended by the general public.

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