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Author Topic: The actual value of a thing is what someone will pay for it in cash . . .  (Read 428 times)

mikenash

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38ac

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #1 on: September 11, 2018, 11:48:54 AM »
True, however my nature causes me to wonder why a first bid of $1000 ?  Smells of bid running by the owner. :police:
Collector and horder of about anything diesel

mikenash

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #2 on: September 11, 2018, 08:14:39 PM »
The way TradeMe works you can set a "no reserve" opening bid

In this case set at $1000 - so the unit is "sold" as soon as the first bid is made and it will sell to the highest bidder

None of this "failed to reach reserve" stuff so everyone knows what is happening

Very common and has become the favourite way to run an auction as it is transparent

So, in the case of this engine, $1000 was the vendor's minimum and reserve & there is no mechanism to make a lower offer if you want to be in the buying

It reflects the vendor's confidence in the value of his machine

Of course if there were no bids he'd have to re-think and maybe re-list later at a lower price, waste a bunch of time & pay two sets of listing fees - you need to know the actual value of the unit you are selling

That's one of the interesting things about auctions, of course

glort

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #3 on: September 12, 2018, 05:33:23 AM »
The way TradeMe works you can set a "no reserve" opening bid

In this case set at $1000 - so the unit is "sold" as soon as the first bid is made and it will sell to the highest bidder

Have to say, Never seen an auction where the reserve wasn't an over the top price.
By the same token, I don't understand fleabay making a big thing about a " No reserve Auction that starts and say $100. That's a reserve in itself!  >:(


Quote
So, in the case of this engine, $1000 was the vendor's minimum and reserve & there is no mechanism to make a lower offer if you want to be in the buying

It reflects the vendor's confidence in the value of his machine

Unfortunately far too many sellers have a great amount of over confidence in their items value and put stupid prices on it.
As a buyer, the inability to make an offer is an impediment to me potentially buying things.

Quote
Of course if there were no bids he'd have to re-think and maybe re-list later at a lower price, waste a bunch of time & pay two sets of listing fees - you need to know the actual value of the unit you are selling

But so many do not! Some just pull figures out their nether regions and some get bad advice.
Some people are smart enough to wake up to the fact that their price is too high when they have got no interest after a month and some will carry on like idiots if you make an offer commensurate with what the thing is worth.

Some people come back giving me a serve when I offer them $200 for something they have listed for $1200 and others simply say, " when did you want to pick it up?.
I guess we have all seen things advertised for months to a year with a stupid price that people won't budge from. I have seen loads over the years that put things on their listing like " List time i'm going to list this" like it's a threat people will be worried about.

The other one that is the mark of a true moron is people who say " I rather take it to the tip than sell it for that".

It's amazing how people will think the price they pulled out their backside is the absolute value of something and any other price below the one they dreamed up is a personal  insult and a disparagement of their good family name.

mikenash

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #4 on: September 12, 2018, 05:54:08 AM »
Well, IMHO, a thing is "worth" what someone will pay for it - QED, really

Since someone has bid $1000 for this, it is (a) "sold" and (b) "worth" at least $1K

dieselspanner

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #5 on: September 12, 2018, 09:04:14 AM »
And a bargain is where both the vendor and the purchaser believe they've ripped the other bloke right off......

Cheers
Stef
Tighten 'til it strips, weld nut to chassis, peen stud, adjust with angle grinder.

LowGear

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #6 on: September 12, 2018, 08:31:06 PM »
Sometimes Stef,

Foster School of Business, Trump has little over me, teaches that when both buyer and seller are satisfied a bargain has been struck.  I'm often happy when everybody else in the deal are happy.  I've been "Diddled" so many times that I'm just over hard ball. 
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BruceM

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #7 on: September 12, 2018, 08:59:55 PM »
I feel the same way, Casey.  I would never have made it rich in the business world.

I've almost closed a deal on a Kubota L2550 with loader, rear blade, cement mixer and some sort of leveler/finish smoother.  Original owner was a physics professor I really enjoyed who died this last year, his severe MCS disabled daughter, also a college prof and much valued friend, doesn't want to deal with the maintenance.  My neighbor and I are going to split it, we need more regular road maintenance.  He wants to find a small three point backhoe for it, and a box grader. I concur on the latter but the small 3 pt backhoes look beyond my budget.  I've got to run some EMF tests on it tomorrow with the alternator disconnected, and take one rear wheel in to town to have it tubed.  The bead seal on the newish tire and rim has failed three times so it's tube time.  I will extend the exhaust stack WAY up with 3 braces to the frame, and add a shade cover with solar panel to eliminate the alternator.

I'm very excited at the prospect of being able to fix my washed out driveway and some parts of the road leading too it that badly need work.

I've always loved tractors of all sizes.


mikenash

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #8 on: September 12, 2018, 10:33:12 PM »
Any man with a bit of land loves to have a tractor

My neighbour - the woman who sold me the sunshine block I bought recently - has a little Kubota (maybe 40hp?) with a front-end loader

She's an office-bound manager who loves nothing better than to get out in the weekend with the tractor and grade our communal driveway or give me a hand to lift an engine or some such . . .

The best kind of tractor - one owned by someone else lol

Hey, if you put a big, tall, exhaust stack on the tractor - especially if it's frame-mounted - you might want to put a "flexy" section in somewhere?  Otherwise it sounds like a recipe for fatigue or cracked manifold maybe?  Just a thought

Cheers

BruceM

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #9 on: September 12, 2018, 10:53:34 PM »
Speaking of the best deal on tractors...When I built my first home here in the White Mountains, I had a newly graduated from HS young man helping me. His Dad owned a late model backhoe, and he lived only 3/4 mile from my home site.  He was skilled with the backhoe and just drove it to work on days when we needed it.  That was the sweetest deal I ever had.

Excellent point on the vibration of the extended exhaust, MikeNash. I should probably put in a flex section as close to the engine as practical, since the upper portion will be braced to the frame. 


glort

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #10 on: September 13, 2018, 08:47:19 AM »
Bruce you could try some of that tyre " Slime" instead of a tube.
I have used it in a couple of my mowers and just put some in My  fathers ATV which had a leaking Tyre.
Looked at it today and it hasn't lost any pressure in the last week so we are pretty sure it's Fixed.

If you want to fill the tyres with water to give the thing more bite, You'll need tubes to keep the rims from rusting anyway.

EdDee

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #11 on: September 13, 2018, 10:02:39 AM »
Mmmmmmm..... Tractors..... I have an affinity for those.... Currently have a 2 wheel Gravely with a few attachments, a 4 wheel ride-on Gravely with mower deck, a "Vaaljapie" as its known this end of the world or Fergie TED petrol/Paraffin as its known elsewhere, a Fergusson 35 "GoldBelly" and the latest arrival is a Landini that needs new bodywork and mudguards which was given to me... I think that when I get the Landini up and going properly I will thin out the herd a bit...

I have used the Slime stuff before, but on the tractors it has been more of a stopgap than long term... It works, but invariably starts leaking again after a week or two....

A couple of weeks back, I had a run of punctures with two of the tractors... 6 flats between 8 wheels... cost a packet, the tubes were perished and needed replacement.... Bloody irritating to mood and wallet at the same time!!

Cheers
E
12/1 750RPM/9HP Roid 5kVA- WMO Disposal/Electricity & Hot Water Gen
12/1 650RPM/8HP Roid 4.5kVa - Demon Dino
Chinese Yanmar - Silent Runner with AutoStart
Classic Komatsu 1963 Dozer/Fergusson 35 Gold Belly ...
Bikes,Cars,Gunsmithing & Paintball...Oh yes, a 5Ha open air Workshop to play in!

glort

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #12 on: September 13, 2018, 12:06:26 PM »

I'm jealous of your 2 wheeler Gravely Ed. Those things are worth a fortune here.
I have been looking for a little Kubota for over a year and still nothing reasonable.

Been seriously thinking about putting something together myself with a Subaru Drive line to give me an AWD.
Only thing I am hesitant about is Hydraulics, both in setup and cost. Would really like a 3PL even if It didn't have a bucket.


EdDee

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #13 on: September 13, 2018, 12:39:26 PM »
Hey Glort,

Hit the scrappies and look for an old forklift... Usually they get taken out of service for engine/gearbox problems.... Plenty of bits on them that are generally not too hard to remove with a shifter, hammer and cutting torch....!

Most of my hydraulic projects I get into originated from earth moving or forkie kit....

With all your panels, a 36vdc oil pump off an electric forkie could be a match made in heaven!

I have four attachments for the Gravedigger... Rotary Plough, Rotivator, Sickle Bar Mower and 30 or so inch brush cutter... Good fun to use, 12hp, fairly light on juice too... The plough and rotivator gave it its nickname... That's how you feel when you have used them, or rather, they have abused you.... Rotivating land is no easier with it, it just takes all the muscle pain from the projected 2 weeks of hand tilling and puts it into the 3hrs it takes to do it with an engine....

Cheers
Ed
12/1 750RPM/9HP Roid 5kVA- WMO Disposal/Electricity & Hot Water Gen
12/1 650RPM/8HP Roid 4.5kVa - Demon Dino
Chinese Yanmar - Silent Runner with AutoStart
Classic Komatsu 1963 Dozer/Fergusson 35 Gold Belly ...
Bikes,Cars,Gunsmithing & Paintball...Oh yes, a 5Ha open air Workshop to play in!

BruceM

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Re: The actual value of a thing is what someone will pay for it in cash . . .
« Reply #14 on: September 13, 2018, 03:09:09 PM »
Thanks Glort.  Slime is great stuff, my lawn tractor tires are all full of it.  We have creeping thorns called "goat heads" here that actually puncture the tires, and after use you can see the green Slime around the thorns on the front tires, yet it will seal. I wouldn't trust it for bead leaks, though.

I might do wheel weights but am not a fan of fluid filled anymore.

My ambitions will be the end of me.  My autoimmune thyroid disease has flipped into hyperactive again, (was low just 2 weeks ago, was on thyroid medicine) to the point of tachycardia and insomnia and going to town again today will likely send it into orbit. Tractor fever and stupid stubbornness.