Bidding, Buying And Business At Farm Auctions

If you’re interested in a farm equipment auction but aren’t familiar with the process, you’ll need to do some research and prepare before you go. Whether you are looking for tractors, trucks, graders, or towing equipment, be prepared so you don’t miss out on the heavy equipment you want.

Registering for The Auction

Once you arrive at the auction, you will need to register or sign in to get a bidder number. If applicable, don’t forget to bring your tax-exempt number with you. You’ll also need a photo ID such as a driver’s license. Depending on what you’re going to purchase, you may also need to bring a letter of credit or bank authorization. If you’re planning on purchasing a large, expensive piece of farm equipment, call ahead of time to make arrangements and ensure you have the documentation you need on the day of the auction.

Picking Your Purchase

Many auction houses will list the items for each auction on their website. This can help you to plan out which items you are interested in and do some research on the estimated value of each lot. It’s also important to thoroughly inspect the equipment before bidding. You may want to bring a mechanic or someone knowledgeable about farm equipment with you to help identify any potential issues.

You can also get to the auction early to scope out what’s available and begin making your choices then. This ensures faster bidding even if you haven’t looked online. Think about what your budget is while you’re looking at the equipment up for auction. You may even have a few backup options in mind just in case you don’t win the piece of equipment you desire.

The Action of the Auction

Once you’re at the auction itself, make sure you arrive a few minutes before the start time. One by one, the auctioneer will call out the items and wait for bids. If you’re bidding on an item, the bid catcher will let the auctioneer know, and other bids will come in until the process is complete. At this time, the auctioneer will let the audience know the item has been sold and the next item will be available. This process can happen quickly, so pay attention to the bids as they rise and make sure to get yours in before the item closes.

What Happens When You Win at a Farm Equipment Auction?

Once you have finished purchasing your items at the equipment auction, you will need to pay the auction house. You may have a certain grace period to remove your items from the auction house once you’ve made your payment, but it’s more convenient to pick up your equipment right then and there. If it’s at all possible, come to the auction ready to load up your new purchases and take them home with you.

Absentee Auctions and Farm Equipment

Sometimes things in life just come up and you can’t make it to an auction. However, you can still bid on the farm equipment you need as an absentee bidder. There are two ways to bid without having to be at the auction in person. The first is to call in your bid by phone at least a couple of days before the auction. The second is to bid online through programs such as Proxibid or EquipmentFacts.

Check the auction house website to make sure this is offered for the farm equipment that you’re interested in. This type of program allows you to hear and see the items being bid on in real time. You can make your bids live while the auction is happening, even if you can’t make it. Be sure to contact the auction company before the event to find out exactly what your options are.

For More Information About Auctions

Ready to get in on the excitement of farm equipment auctions? Contact High Plains Auctioneers at (806) 244-6776. You can find out about our newest events by clicking Upcoming Auctions or Contact Us through email for convenient and quick answers to your questions. Happy bidding!