Back Up again from GP auction?

[BadRobot]

This is my experience. I bided on 2011 M1102 over a year ago. It required EUC. Then about 8 months, it was listed. It is understandable that the first bidder did not get approve EUC.

However, the second attempted after 8 months went for $900. The it was listed as the third time. The price ended around $1,200. Then finally the fourth time. It ended about $700. The second to fourth are week after week.

I also had another item, forklift. Exactly the same scenario. 3 times in the row.

I cannot tell what else had happened to other items. That let me to suspicious. I hope one day someone will come forward. Otherwise, I only hope GP is doing honest business.

 

[porkysplace]

I think it has more to do with people bidding with no money to than GP playing games as they have too much to lose.
This thread is a prime example of people buying things with no way to pay for it .
[h=1]Loans[/h]

 

[NovacaineFix]

With all that said and done, I don't see why GP or GL does not "offer" said item to the 2nd highest bidder if the 1st defaults for whatever reason. Just seems to me that in order to move units and clear inventory that would be the best win win for everybody.

We all know that auction prices fluctuate too much to say a unit will go for said price if listed more than once. On the software end, the information is all there. So if winner (highest bidder) does default, an auto-reply email should go out to 2nd highest bidder with the "option" to buy and if not, no default since they were outbid anyway.

That's just my anyway.

 

[BadRobot]

With all that said and done, I don't see why GP or GL does not "offer" said item to the 2nd highest bidder if the 1st defaults for whatever reason. Just seems to me that in order to move units and clear inventory that would be the best win win for everybody.

We all know that auction prices fluctuate too much to say a unit will go for said price if listed more than once. On the software end, the information is all there. So if winner (highest bidder) does default, an auto-reply email should go out to 2nd highest bidder with the "option" to buy and if not, no default since they were outbid anyway.

That's just my anyway.

Great idea. Do the same as eBay.

 

[Suprman]

There are 5 or 6 non runners that didnt sell multiple times around and that I tried to call and offer on in the same ballpark as I bought the last 5 trucks but GP wont take or return my calls on this. They are trying to increase starting prices so they make more profit. It is strange that a truck sold last week is already up for sale. Almost makes you wonder if they werent bumping the price themselves and then got stuck with no winning bidder. I dont think that the rolling surplus contract is as
profitable as people think it is. GL had a cake deal they gave the gov a much smaller percentage. GP gives the gov 77 percent, if I remember correctly of the gross sale price. Minus a few allowed expenses. They have to give the gov 1/4 of one percent of the original gov purchase price up front. It gets expensive to pay all these employees and for storage lots. Though they do have the ironplanet network all ready in place. That being said their latest operating procedures are starting to look shady. Just like with the FL offroad title, it only takes one person to call their congressman especially in an election year and throw a wrench in the works.

 

[BenRoberts]

There are 5 or 6 non runners that didnt sell multiple times around and that I tried to call and offer on in the same ballpark as I bought the last 5 trucks but GP wont take or return my calls on this. They are trying to increase starting prices so they make more profit. It is strange that a truck sold last week is already up for sale. Almost makes you wonder if they werent bumping the price themselves and then got stuck with no winning bidder. I dont think that the rolling surplus contract is as
profitable as people think it is. GL had a cake deal they gave the gov a much smaller percentage. GP gives the gov 77 percent, if I remember correctly of the gross sale price. Minus a few allowed expenses. They have to give the gov 1/4 of one percent of the original gov purchase price up front. It gets expensive to pay all these employees and for storage lots. Though they do have the ironplanet network all ready in place. That being said their latest operating procedures are starting to look shady. Just like with the FL offroad title, it only takes one person to call their congressman especially in an election year and throw a wrench in the works.

Off of what you said i noticed the starting bid went way up shortly after i bought my truck. the new starting bids are more than what i paid total.

 

[BadRobot]

Yes, I noticed the staring bid went up for the last couple weeks, especially non-runner.

 

[Chief_919]

I think it has more to do with people bidding with no money to than GP playing games as they have too much to lose.
This thread is a prime example of people buying things with no way to pay for it .
Loans

I forgot all about that debacle.

But yeah, that is a good chunk of them I am sure.

Also I am sure a lot of them are people who bid blindly on trucks regardless of location, having not bothered to consider shipping costs or even investigate quotes. I see that a lot with new people trying to get started in the surplus business who will bid up stuff all over the place without factoring the cost to get it to them. A guy locally here who decided after looking at GL/GP he was gonna get rich flipping generators bid a bunch of sets out at Barstow and only after he paid realized he was going to pay more to get them to NC than he paid for them. It was a short business venture.

 

[Jwade]

I address a few things here, If anyone ever has a question on what happened to an item number and why it got relisted just let me know I can usually pull up the notes.

Items do get relisted same day if they don't sell, If you see one that sells go back up the same day let me know but I cant recall that happening.

Also think about it we give 150k bid exposure with practically nothing to show what you have? Probably not the smartest route and its being looked at.

But once again fake bidding comments are reckless and stupid. We've been in the auction business for quite a while with a solid reputation. Come on out and watch an auction from our side if you want we have nothing to hide. If something looks odd to you like everyone else before you I can probably come up with an explanation.

 

[Suprman]

Ok why are sold trucks relisted with starting prices higher than previous starting price and higher than the ending high bid price?

 

[rhurey]

Also think about it we give 150k bid exposure with practically nothing to show what you have? Probably not the smartest route and its being looked at.

There's a reason the local auction place requires you to put $300 CASH in their hands for your winning bid to be accepted on all cars, pickups, & vans. Immediately, or they start move past you.

 

[porkysplace]

There are 5 or 6 non runners that didnt sell multiple times around and that I tried to call and offer on in the same ballpark as I bought the last 5 trucks but GP wont take or return my calls on this. They are trying to increase starting prices so they make more profit. It is strange that a truck sold last week is already up for sale. Almost makes you wonder if they werent bumping the price themselves and then got stuck with no winning bidder. I dont think that the rolling surplus contract is as
profitable as people think it is. GL had a cake deal they gave the gov a much smaller percentage. GP gives the gov 77 percent, if I remember correctly of the gross sale price. Minus a few allowed expenses. They have to give the gov 1/4 of one percent of the original gov purchase price up front. It gets expensive to pay all these employees and for storage lots. Though they do have the ironplanet network all ready in place. That being said their latest operating procedures are starting to look shady. Just like with the FL offroad title, it only takes one person to call their congressman especially in an election year and throw a wrench in the works.

Your comment about GP increasing their starting prices trying to increase their profit , is no different than you crying about their starting prices to increase YOUR PROFIT. Your in the pawn business and prey on down and out people with no credit paying pennies on the dollar or charging excessive interest ( THAT'S HOW PAWN SHOPS OPERATE ). GP is in the business of selling trucks for the most profit they can make , just like your business , but GP isn't desperate to sell.

 

[BadRobot]

I address a few things here, If anyone ever has a question on what happened to an item number and why it got relisted just let me know I can usually pull up the notes.

Items do get relisted same day if they don't sell, If you see one that sells go back up the same day let me know but I cant recall that happening.

Also think about it we give 150k bid exposure with practically nothing to show what you have? Probably not the smartest route and its being looked at.

But once again fake bidding comments are reckless and stupid. We've been in the auction business for quite a while with a solid reputation. Come on out and watch an auction from our side if you want we have nothing to hide. If something looks odd to you like everyone else before you I can probably come up with an explanation.

Thank you for clarification. We work hard for our money and we want to be treated fairly and honestly.

Is it possible to look at item# 715639, please? What went wrong with it? Why did it get list 4 times?

There is another item but I could not find it since "Did not Win" items listed only for the last 30 days.

 

[Suprman]

Excessive interest? I charge what the statute allows and often I charge significantly less, making something is better than making nothing. It costs alot of money to run a business in CT. $9250 for rent and basic utilities every month. Paid that today. Then employees, insurance, basic supplies etc. All before I pay myself a penny. 90% of the consumer electronics people bring in is made in China disposable junk. Takes time to test what ever the item is and do the required paperwork. Employees need to get paid. If the customer dosnt come back for their item then I have to be able to resell and make money on it. Even if they dont come back for it I have to hold it for minimum of 2 months, most stuff dosnt go up in value. Not much demand for most consumer electronics and all the tools sold at the big box home repair stores used, the stuff is dirt cheap new. I wish everyone came back for their pawns, its good business, they have it to pawn again. If there wasnt a demand for the service then I would have no customers and be out of business. I cant just decide I need to make more money and charge pawn customers more. Its regulated. I buy and sell surplus stuff to make extra money. I sell alot more of the surplus stuff than the left behind pawns.

 

[BadRobot]

Actually, I am grateful that government did not destroy these equipment as before Obama's era. At least the government gets some money back. This is from tax payer perspective.
I also truly grateful that I can effort these equipment which I could not effort to pay the full retail price. This is from buyer perspective.

I have no complains about GP/GL neither. They gave me opportunities to buy stuffs online without leaving my house. I have a lot more options than going to local military surplus stores.

 

[Chief_919]

Actually, I am grateful that government did not destroy these equipment as before Obama's era. At least the government gets some money back. This is from tax payer perspective.
I also truly grateful that I can effort these equipment which I could not effort to pay the full retail price. This is from buyer perspective.

I have no complains about GP/GL neither. They gave me opportunities to buy stuffs online without leaving my house. I have a lot more options than going to local military surplus stores.

I know a lot of people whining have no clue how thing used to be before GL and GP where you had to travel to a live sale and bid, or else fax a bid in based on a text list of items with no condition description or photos.

If you didn't have the time and resources to do all that you were buying from a dealer who did.

New folks don't know how good they have it....

 

[Suprman]

I was fine with a reasonable starting price of 2500-4500 for trucks. Then lower the price by 1000 an hour later if no bids. Perfectly reasonable with today's overhead costs.

 

[63foxtrot]

just got a email. Ritchie Bros now owns Iron Planet.

 

[Jwade]

just got a email. Ritchie Bros now owns Iron Planet.

Yes they did.

 

[BadRobot]

Thank you for clarification. We work hard for our money and we want to be treated fairly and honestly.

Is it possible to look at item# 715639, please? What went wrong with it? Why did it get list 4 times?

There is another item but I could not find it since "Did not Win" items listed only for the last 30 days.

Any luck finding info on item# 715639? I just curious about it. If no info, it is fine. I know GP is doing honest business. I hope I will not see any whistleblowers come out and tell the story later.