Auction tips for new farmers
FOR those who have recently entered the farming industry, there are certain ways you can get ahead of the game while staying on a small, starter's budget.
One of these ways is through making smarter purchases at cheaper prices, which you can do at local auctions or clearance sales.
If you're looking for a specific type of machinery for your farm, before you head out to machinery stores it's always a good idea to check out what's available at these local events.
However, when you end up attending one, before you start your bidding, you might want to know some tips and tricks to get you ahead.
First of all, it's important to know the difference between reserved and unreserved.
According to farmbuy.com, reserved auctions sell items with a set minimum bid, while unreserved means the highest bidder can buy an item, regardless of price.
Choosing to visit only unreserved auctions can limit your options, but you might be able to get more bang for your buck.
When you choose an auction or clearance sale to visit, it's then always important to view all the machinery on offer.
This is because you won't want to be bidding on something second best, when what you were looking for is right around the corner.
Inspecting each item will also help you evaluate its quality, so it's also good to have background knowledge about what red flags to be looking out for.
More research will also then help you find good bargains, as you can bid for things without paying more than regular second-hand sales.
Most auctions will allow you to see what is up for auction beforehand online, so it's also good to check and see if they have a website so you can decide whether you would want to do the auction visit or not.
If you've visited these auctions and can't find what you're looking for, it still may be a valuable experience as local farmers attending might have valuable information for your journey.