Saw this at an auction today.

TNBrett

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So I went to what was promoted as a farm equipment and power sports auction this morning in Columbia, TN. A lot of what they had seemed pretty well used up and generally not that well taken care of. I usually enjoy going to auctions even if I’m not planning on buying anything, but the real reason I went today was to check this out. The flyer just had it listed as a 93 Ford with a 7.3L, no mileage or other info. Turned out to be a f350 XL 4x4 IDIT ZF5. That’s about the extent of the positive points for it. The interior was a bit worn. Dash pad was cracked, instrument panel bezel was broken in several places, and the column was completely destroyed. You could move the steering wheel about 1.5” sideways. Obviously the PO had rigged up a push button for the starter with wires draped around the engine bay. The shifter felt pretty sloppy in all gears. The trans and transfer case were completely covered in oil. There was gear oil on the simulator on the driver’s side. The rear fuel tank looks to be abandoned, as the filler was removed. And the tires were worn enough that I’m sure it’s pretty sketchy in the rain. They started it, and it started pretty quickly. But, it was already warm, and it still took a few seconds for all 8 cylinders to start firing. They only ran it for a few more seconds, but it had a fair amount of white “unburned fuel” smoke. There was quite a lot of interest in the truck and it ended up bringing $7500. With the 10% buyer’s premium, someone paid $8250 for it.
 

The_Josh_Bear

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So I went to what was promoted as a farm equipment and power sports auction this morning in Columbia, TN. A lot of what they had seemed pretty well used up and generally not that well taken care of. I usually enjoy going to auctions even if I’m not planning on buying anything, but the real reason I went today was to check this out. The flyer just had it listed as a 93 Ford with a 7.3L, no mileage or other info. Turned out to be a f350 XL 4x4 IDIT ZF5. That’s about the extent of the positive points for it. The interior was a bit worn. Dash pad was cracked, instrument panel bezel was broken in several places, and the column was completely destroyed. You could move the steering wheel about 1.5” sideways. Obviously the PO had rigged up a push button for the starter with wires draped around the engine bay. The shifter felt pretty sloppy in all gears. The trans and transfer case were completely covered in oil. There was gear oil on the simulator on the driver’s side. The rear fuel tank looks to be abandoned, as the filler was removed. And the tires were worn enough that I’m sure it’s pretty sketchy in the rain. They started it, and it started pretty quickly. But, it was already warm, and it still took a few seconds for all 8 cylinders to start firing. They only ran it for a few more seconds, but it had a fair amount of white “unburned fuel” smoke. There was quite a lot of interest in the truck and it ended up bringing $7500. With the 10% buyer’s premium, someone paid $8250 for it.
o_O wow... I'm totally blown away by the market for older vehicles right now. Clearly that's a work truck and I get that it's sort of a unicorn with single cab, flat bed, 4x4 dually ZF5 but still. Being a 93 it's 28 years old for Pete's sake!
I just noticed it's a short bed too.
 

Cubey

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I’m starting to think my $4k truck was a pretty good deal. LOL

Prices on many things automotive have shot up lately, not just fuel. The Walmart Maxx 65N battery has gone up to $130 in the last month or two, from ~$100. O'Reilly's 3 year free replacement equivalent has shot up to $190 from about $160, so Walmart's is still cheapest. I'm guessing it's an issue with the manufacturers since both went up the same amount, give or take a few pennies.
 

Brian VT

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I think I paid too much for my truck, and I am trying to get past buyer's remorse, but I feel a bit better after you posting what that auction truck went for. Thank you!
A dually with 4x4 is cool though.
 
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Greenie

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Amazing price for a beat truck. I feel more lustful eyes on my 1993 7.3 IDI out on the road these days - it's in much better shape than the featured truck.
 

bilbo

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Auctions are funny that way sometimes. I was watching a local online auction and there was a small lawn cart that I could have used. After the premiums and fees were added, it sold for more than a new one costs.
 

chillman88

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Auctions are funny that way sometimes. I was watching a local online auction and there was a small lawn cart that I could have used. After the premiums and fees were added, it sold for more than a new one costs.

I've seen that a lot lately. It's a head scratcher for sure.
 

Cubey

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I've seen that a lot lately. It's a head scratcher for sure.

You can see it in online classifieds too, where it's actual individuals selling stuff, like on Facebook or Craigslist. They want more than new prices for their used stuff. I've even seen Dollar Tree items with the telltale sticker that says Greenbrier International for $3 before.
 

Fredrickson

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I remember way back in the days of the 'dot.com' bubble, when companies went out of business and their equipment was auctioned off.. crazy behaviors, when compared to rational actions..
there have been articles about it. like this one:

one snippet from the article:
Auctions push a number of our psychological buttons, and in fact the phenomenon of “auction fever” is well documented. They are social occasions, with lots of other people around, and this tends to increase your physiological arousal, an effect called social facilitation. As your adrenaline pumps, your heart beats faster, and your reactions quicken. This is ideal for something like sports, but makes cool rational decision making harder. The very rich often send delegates to auctions, and as well as avoiding the paparazzi I suspect this is also a strategy to combat the over-excitement induced by being physically present in the situation.
 

Cubey

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I remember way back in the days of the 'dot.com' bubble, when companies went out of business and their equipment was auctioned off.. crazy behaviors, when compared to rational actions..
there have been articles about it. like this one:

one snippet from the article:
Auctions push a number of our psychological buttons, and in fact the phenomenon of “auction fever” is well documented. They are social occasions, with lots of other people around, and this tends to increase your physiological arousal, an effect called social facilitation. As your adrenaline pumps, your heart beats faster, and your reactions quicken. This is ideal for something like sports, but makes cool rational decision making harder. The very rich often send delegates to auctions, and as well as avoiding the paparazzi I suspect this is also a strategy to combat the over-excitement induced by being physically present in the situation.

eBay can be like that too for uncommon items
 

TNBrett

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The auction phenomenon can be a blessing in some cases too. There is a young family down the road from me whose house burned down back in January or February. Some ladies from one of the local churches organized a charity auction. The same auction company donated their time and several tents. They raised $25k on a rainy Saturday from items people from the community had donated. People were bidding up artwork donated by school kids. Several people auctioned off use of their time shares down in FL. There was a guy who had a dozen or so 8oz jars of honey from his bees. Bidding on the first jar got up to $25. The auctioneer asked if anyone else wanted a jar at that price, and every single one was sold. Everybody spent more money than they planned, and just about everything sold for more than it otherwise should have.
 
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