Newbie questions...auction prices...

[kicker9898]

Hello all, I searched and didn't find this. I apologize if I'm committing a mortal board mistake here.

On GL auctions I see some trucks that look very similar as far as mileage, apparent condition, etc, but one is at twice the price as another. I wondered if there are any GL pros that could give me an idea of why the prices on two similar trucks would vary so much?

I figure that either folks that have had a chance to inspect them see something I don't, or that there is something obvious that folks are seeing, ie tires, interior that they are looking for.

Just curious, thanks for any help. Looking forward to joining the MV hobby.

Jason

 

[GHall]

If I'm not mistaken, I don't think you're supposed to talk about current auctions.. Just trying to help out, you may want to re-word your question.

 

[kicker9898]

If I'm not mistaken, I don't think you're supposed to talk about current auctions.. Just trying to help out, you may want to re-word your question.

Thanks GHall, I assumed that my question was general enough to not step on any toes. However if I am considered to be breaking that rule I'll be happy to reword. It was really just an in general question though Thanks!

 

[GHall]

No worries. It may be general enough but I don't know. As to your question, your guess is as good as mine.

 

[Blendmaster2002]

My , it may be little options you did not notice or one may just be more complete. But most likely its something seen at the preview, condition can vary greatly from two identical trucks at the same site, undercarriage forklift damage can if bad enough take a vehicle to scrap prices, unbolted missing parts like axle shafts, drive shafts and other misc that would be my observation. The best advice I can give you is preview, preview, preview, if you can’t preview, judge the best you can from the pictures and or video, hope the pictures are of that item (with the volume they deal in they mix pictures up from time to time), and bid knowing something may be wrong then you won’t be disappointed .

 

[o1951]

Personally, even though I know a fair amount about vehicles, I would pay someone who has bought a number of vehicles from GL to come with me, or inspect in my absence. My opinion, money well spent. As mentioned in previous posts, too many "gotcha's" I might not have thought about waiting to bite. May have been scavenged for parts, or even worse, as per a discussion here, some locations are doing the EPA thing and draining all fluids and flushing 3 times with hot water!!! Get one where engine, trans, brake lines... sat 6 months with no oil and water residue inside, gonna spend big bucks to get her roadworthy. Also want to be sure sufficient documents will be available to title vehicle in your state. Lotta little nitpicking things that can be a problem if missed. After the first one, would not expect to need any help. My

 

[kicker9898]

Thanks Guys, that helps alot. I appreciate ya'll taking the time to answer a newbies questions. I've been thinking about doing this for a long time and I'm finally ready to jump in. I have noticed that trucks at some sites have video of them running and moving. I'm hoping that is a help as well. Thanks again all.
Jason

 

[NDT]

I've been buying GL and DRMO for a long time. There is no rhyme or reason to prices most of the time. People get all gaga because it is army surplus.

 

[Trailboss]

According to your join date, you've been a member longer than I have, so you should have seen all the recovery threads documenting problems with vehicles and other stuff bought from GL that were not evident from the photos/video/description.

There are a few reasons for price variability, but they don't always apply.
- Bidder war taking the prices to stupid levels.
- If there are 10-20 or more of the same type of items, the prices will tend to be lower.
- Location of the auction - prices at some sites tend to be higher than other sites for the same items. I've shipped two trucks from a location 500 miles away at a cheaper total cost than driving home the same truck from a base 120 miles away.

 

[ntxcop]

When you decide to bid on an item on GL, you place your highest bid amount and the system automatically bids for you. If the item starts at $150, and you place a MAX bid of $2000, when you place your bid, the price will rise to $170, and remain there until the next bidder places his bid. If the next bidder places a maximum bid on the item at $2100. The item will jump from $170 to $2100 by auto bidding. Sometimes, its just a simple as two people auto bidding against each other. I tend to watch locations around my state, and usually when there are several items up for auction at the same location, they end up being relatively close in price to each other.

 

[BKubu]

Hello all, I searched and didn't find this. I apologize if I'm committing a mortal board mistake here.

On GL auctions I see some trucks that look very similar as far as mileage, apparent condition, etc, but one is at twice the price as another. I wondered if there are any GL pros that could give me an idea of why the prices on two similar trucks would vary so much?

I figure that either folks that have had a chance to inspect them see something I don't, or that there is something obvious that folks are seeing, ie tires, interior that they are looking for.

Just curious, thanks for any help. Looking forward to joining the MV hobby.

Jason

I think part of it is what you just said right there...some bidders see one truck go higher and think it must be better so they hit it, too. I have been tempted by early bidding when I see a truck go way higher than the rest (hard to resist thinking someone knows something about THAT truck). Personally, I think it has more to do with a truck having a bit better paint, the push button light switch, or some other feature that they just have to have.

 

[kicker9898]

Thanks everyone for the replies and the help, it's much appreciated.

I'm happy happy, I joined the MV community today, for better or worse! Won a 923A2 out of Sparta, crossing my fingers that it is in as good a shape as the pictures and video show. Hopefully I'll be posting a "Recovered a running 5 Ton out of Sparta" thread pretty soon!
Jason

 

[m16ty]

I think part of it is what you just said right there...some bidders see one truck go higher and think it must be better so they hit it, too. I have been tempted by early bidding when I see a truck go way higher than the rest (hard to resist thinking someone knows something about THAT truck). Personally, I think it has more to do with a truck having a bit better paint, the push button light switch, or some other feature that they just have to have.

I experienced the opposite of that today. I bid on a truck and it was getting close to closing time and the truck was still considerably lower priced than other trucks at the same location and I had a decent poxy bid in place. I started worrying "what's wrong with that truck that I missed"? In the end it went into overtime and I got outbid though.