What is it about auctions that make people forget all sanity. Is it the idea that all auction prices are bargain basement tho i admit the Auctioneers comments dont help when they tell you what a cheap price this is going for.

I went to a marine business closing down auction in Redcliffe today and was amazed at the way people were throwing good money away. For example most items had the RRP stickers on them but people were bidding up to 30% more than retail. One rod during the auction someone disclosed that the opening bid was higher than the retail price so the first bidder withdrew his bid for the auctioneers starting price. The crowd had a laugh the bidding recommenced and yet it still sold for $15 more than RRP and that didnt include the 11% buyers premium so in fact some items sold for almost 40% more.. Some bulk items sold at a discount because Joe punter wasnt bidding on them. For example one lot i was interested in was the Fibreglass repair kit but they sold the entire stand in one lot up to 2 grand worth of product sold for $200 i was the underbidder purely because what i wanted was going to cost me about 150 retail so i put a few bids in.

Another con was the RRPprice was a lot dearer than the major chain oulets so the the $200 saving on a $2500 sounder was actually about $200 dearer than if he went to that Boating Camping and Fishing place.

And did I come home with anything well after spending 8 hrs there I had to buy something so I came home with 8 yabby pots for 5 dollars ea, ( now that the dams are filling up great fun with the kids) and I brought my Missus a Mauve/lilac rod and reel combo for Mothers day **** am I a good husband or what!!!!


PS Lest We Forget for this Saturday