News 
 National Rural News 
 Machinery and Equipment 
 General 
 Second-hand machinery auction action also up 

Second-hand machinery auction action also up

24 Feb, 2009 02:46 PM
While it's nice to take delivery of a shiny new header or tractor, there's another alternative to equipping a property with the latest piece of machinery.

Auction centres, it appears, are noting an upturn in crowds looking for a bargain in the face of the global economic crisis.

As well, it might also be a symptom of the lengthening supply times for mainstream farm machinery.

Noted Darling Downs-based auctioneer, Pat Dunne, Toowoomba Auction Centre, Qld, is in a bullish mood about business prospects.

Running one of the most successful auction yards in Queensland, he said businesses like his were "travelling at a steady pace", chalking up impressive clearance rates.

While he also handles Government auctions, he also undertakes solvencies, estates and clearing sales as part of his day-to-day business transactions.

"Every sale is different," Mr Dunne said.

"At our last big sale we sold 20 tonne of steel and between 15t to 20t of timber.

"But at Chinchilla the other day, there was great interest in three old collectible tractors and a Volkswagen car.

"The vendors thought the car might make $500 but on the day it sold for $4000."

Despite the economic gloom, Mr Dunne says the bulk of his clients, who principally hail from western Queensland, are philosophical about the day-to-day running of their properties.

"People are becoming a little bit more diligent (with their money) but the way ahead is quite positive for us - both in numbers and value," he said.

Mr Dunne said those unfamiliar with auction protocols needed to understand that payment usually was required on the day.

But verification that a bank has approved finance for a specific sale item generally is sufficient – provided it comes through within four to five days.

Otherwise, it's probably wise to turn to your local machinery dealer who is better-placed to organise finance over a longer time-span.

With clearance rates usually "well above" 90pc, Mr Dunne says the key to his success lies with giving his customers the best possible service.

"If your reserves aren't achievable, then you'll lose your crowds," he said.

Mr Dunne travels the countryside on behalf of a burgeoning range of clients and is buoyed by knowing "there's always a surprise on the day" when sale proceedings get under way.

Print
Increase Text Size
Decrease Text Size


comments


No comments yet. Be the first to comment below.

post a comment


Screen name  *
Email address  *
Remember me?
Comment  *
 
We invite and encourage our readers to post comments. Comments are moderated and will appear as soon as our editor has approved them. When posting comments you agree to be bound by our Terms and Conditions.
Pat Dunne: People are becoming a little bit more diligent (with their money) but the way ahead is quite positive for us - both in numbers and value.
Pat Dunne: "People are becoming a little bit more diligent (with their money) but the way ahead is quite positive for us - both in numbers and value."
Related Coverage
MULTIMEDIA
23 February, 2009
POLL
Q: Do you trust Government to implement adequate policy changes in their response to the lessons of the Victorian bushfires?

Yes
(9.9%)

No
(85.9%)

Undecided
(4.3%)

Total Votes: 1011
Poll Date: 22 February, 2009

Most popular articles

Ray White Rural MON0152
 
IRRIGATION CONFERENCE 2010
 
S&L Subscriptions
 
2010 Beef & Cattle Directory
 
Rural Bookshop
 
photo gallery
 
S&L Twitter
 
S&L Facebook


 SEND...
 SAVE...
 SHARE...