Bring a Trailer Auction results 1928 Sport Coupe

[BRENT in 10-uh-C]

Originally Posted by old31

I dont understand, I am not saying it is not true but I dont understand. Why the auction sites would say that.

Let's look at it from a different perspective. Auction sites need Sellers. When a prospective Seller is searching for a place to market their vehicle, it is easy for the Auction site to say check our previous sales. If it appears a similar vehicle has recently sold for a decent price (-maybe higher than average), it is a great sales tool to help convince a prospective Seller. If you are a Buyer, generally you don't tell everyone how much you paid for it, but if your friends see that on the 'net, it looks impressive that it appears that you paid that much. It also looks impressive to the Seller's peers too.

Originally Posted by 30 Closed Cab PU

Brent - thanks for your insights, seems auctioneers know all the tricks, as a seller that is what you want. As a buyer trying to get deal sounds like it is frustrating., have to be careful or you quickly can overpay.

Well a strong argument is made looking at this from both directions. By theory every sale of any item should be fair for both sides. In other words, the Seller should be compensated for the exact worth of an item. Let's call that Fair Market Value. The Buyer is also expected to pay exactly what something is worth or FMV. The Auctioneer is there to represent the Seller to try to obtain the full worth or FMV of each item.


It really is not "tricks" per se' unless the Auctioneer is being dishonest (-like shill bidding by a trash can or a person in the audience). I guess their attitude is the Buyer should start the bidding out at exactly the fair market value price so that they are playing fair with the Seller. Since most potential Buyers are unwilling to play the game that way, then it only seems fair that the Auctioneer will then equally play to the Seller's advantage in the sale. Therefore the best way to do that is to let each person tell the Auctioneer exactly what they will pay for it. The last one that tells the Auctioneer what they will give is generally called the 'high bidder'.