Thread: Timber Sale Guyra - What a rip off!!!

Not quite a rip-off, but certainly one of the most obscure auctions I'd been to. Auctioneers with no knowledge of timber who themselves were very frustrated by the end of the day. Several vendors with widely varying agendas -- including the one with the red cedar (in the lane way) that was looking for $200/board and consequently didn't sell any. The main vendor who wasn't there and even had reserve prices on round-backs and off-cuts (fair enough to have reserves on the more prized timber, but reserves on the cr#p?). And most of the timber was construction or landscaping grade, not furniture grade.

But there were some reasonable buys and the frustration and confusion sometimes works in the buyers favour. There was a piece of white beech that got a highest bid of $40 but was passed in. When I approached the staff ("deal privately" ... the most stated expression on the day) I offered $35 and the vendor agreed! It is a bad day for a vendor when an item sells after the sale at a price less than the highest bid!

Also bought some silky oak, blue gum, and some red forest oak.

Qw

If vendors were bidding on their own timber why didn't you walk up to the auctioneer and tell him while it's happening ? I'm not sure about Queensland but there's been a huge crackdown on real estate agents doing it here in SA on property auctions and it may have helped those who didn't know they were being cheated in that fashion !

If vendors were bidding on their own timber why didn't you walk up to the auctioneer and tell him while it's happening ?

Barryr - several buyers did complain to the auctioneer at the time and he said the vendor is entitled to bid on his own timber. I am aware of the crackdown you mentioned. Does this apply to all auctions or only realestate?

woodcutta

I don't know specifically in this case, however in m ost auctions in NSW at least, the vendor reserves the right to one bid.

This is usually the opening bid, but not necasarily, the auctioneer usually makes this bid on behalf of the vendor, but the vendor can do it himself, it must be made clear that it is the vendors bid.

The vendors opening bid, if used, should not be confused with the upset price, which is the minimum amount the auctioneer will accept as the opening bid, or the reserve.

Originally Posted by outback

I don't know specifically in this case, however in m ost auctions in NSW at least, the vendor reserves the right to one bid.

You are confusing real estate auctions against general auctions. As far as I know, the law has not changed on general auctions.

Well I dunno, I get confused pretty easy, I do know that a couple of major type auctions I take part in each year as a vendor I do have that right, I don't exercise it, but I do have it.

Even if it is legal it's just wrong ! A vendor puts a reserve on his sale (ie: the minimum he will take) . If he's not happy with low bids put a higher reserve to start with , but consider the product sold if the reserve is met by someone else !
They only get away with it if they are allowed to by the buyers ! If the buyers stand up and say go screw yourself the vendors lose money most of the time (auctions cost money , sale or no sale)

Needless to say , I don't participate in many auctions , other than Ebay that is !

Oh well, it sounded interesting in the advertisment. Sounds like a fishing trip for someone, rather than a Clearing Sale.

BArry, I think I'm probably agreeing with you, you just feel more strongly than me.

The vendors bid when used at the beginning of an auction can be useful to break the ice and get the auction started. To use it part way through I feel is pretty immoral.

I know of no terms which allow the vendor multi bids, and if this is the case your suggestion sounds quite reasonable to me.

OK fair enough the vendor gets a bid. I have no problem with that provided that if the vendors bid turns out to be the winning bid then the vendor still pays the selling fee to the auctioneer since it was sold was it not?

If I was the auctioneer I would say too bloody right.

OK fair enough the vendor gets a bid. I have no problem with that provided that if the vendors bid turns out to be the winning bid then the vendor still pays the selling fee

Anthonyd he did win on a few occasions so I hope he was up for the fees (+GST)

You are confusing real estate auctions against general auctions. As far as I know, the law has not changed on general auctions

Markharrison
As you say general auctions are a bit different from real estate auctions.
After reading Dept of Fair Trading guidlines (in NSW) in a general auction
the vendor comes under the same rules as any other buyer.

I buy all my timber at auction and get some absolute bargains ...well all mine is very cheap as even the auctioneer knows he's done well to get an extra $10 out of me .. Where you say ? sorry too many bidders no good for my deep pockets..