And, no, you can’t just buy something used whenever you need it. This is partly because at that time, others probably want it too– I believe this blog has talked about buying countercyclically before. But it’s also because you can’t assume something is going to be available, used, when you need it, at a price that beats the auction method. When the uncertain element is not the price, you aren’t going to get a good deal.

Even eBay, which makes availability more likely, is going to involve paying at least $10 or so for the item (it’s not all that common that things start lower than $9.99) and, vitally, shipping, typically $6 and up for the kind of thing I got. The bulkier the item, the higher the shipping. Can you imagine what shipping would cost for the mop bucket and wringer?

No, I didn’t waste $15. I could sell this stuff and be almost assured of a profit because I bought it so low. At the very minimum I’d break even. What I did was to turn a pretty small amount of money into a different form. Think of stuff as a different kind of currency than dollars (and a kind that wears out at a rate much slower than inflation). Changing your dollars to stuff at the moment you need it is like changing money at the airport. You’ll get a terrible deal.

I’ve also met actual hoarders, and they accumulate junk mindlessly– cabinet radios that don’t work, piles of LPs of music they don’t like– which they accumulated because they were free. That’s not me.

I find it interesting that since it doesn’t involve freelancing, the internet, or lifestyle minimalization that so many folks have posted negative comments, even though it’s all about not letting things go to waste and reuse if done right.

We’ve got a big workshop and lots of storage space. I think it would be great fun to buy (inexpensive) furniture and re-do it. I can see putting the legs from one table with the top of another, and adding carved accents to a dresser. Did I mention that we build furniture as a hobby? I’m thinking of leaving my (stressful yet low-paying) job and trying to build it into a full-time business.

I can personally attest to the fact that people will give away things of incredible value that they have no use for. I am the happy recipient of several thousands of dollars’ worth of European woodcarving tools. I could never have been able to justify spending that much money on a hobby but I was sure happy to take them for free, although I did tell the person that they were worth a LOT.

I set my limits, don’t go over them, and have ended up with things I *need*, when I need them, for far less then I could have bought at Walmart or a mall (even factoring in sale prices), all without leaving the house.

But buying random piles of stuff? No. I don’t want extra things that I don’t need hanging around. It’s just a hassle to get rid of them, and the payout seems low.

Estate auctions also take an emotional toll on me. I see and think about the person’s life all laid out on tables in front of me.
So, I prefer not to go to them.

I think we all want to beware of impulse spending and spending on things we don’t really need regardless of where we do it. Auctions can be useful for some people but not for others, and there’s nothing wrong with that.

I started attending farm auctions as a child, and bought my first items at auction when I was 14. I got a great deal on a recliner and stereo for my room — old farmers are fairly uncomfortable bidding against a teenage girl. I was limited by what I had in my pocket at the time, and I knew what I wanted to get when I went and that was the only thing I would bid on.

My husband and I use those rules still today. 1) Only go to auctions that have something you want/need.
2) Bid only on those items.
3) Before you start bidding, set a limit on what you will pay for the item and stick to that limit.

We have an auction house in our area that specializes in selling items for folks who are downsizing their homes. They run a silent auction one weekend a month. The items are posted online, so you can take a look-see for particular items you might be searching for and you can bid online as well. For someone who is new to auctions, this can be a great way to start. You’re not as likely to get caught up in the heat of the moment so to speak. You also have plenty of time to check whether you are really getting a deal or not.

However, if you have stablized your finances so you can “invest” $20 a week/month into auctioning, you live someplace with a garage or barn or at least spare room, and you can’t just work more hours this is a good plan. Especially if you have an eye for it and enjoy it. Oh, and have a vehicle to haul stuff!

For me, the stress of having to sort the books and decide and the chore of cleaning things up to sell wouldn’t be worth it.

But, I might look for auctions the next time I actually need some furniture.

It gave no practical advice on turning a profit and instead did focus on buying cheap stuff because “you might need it some day” (the hoarder’s motto).

You can make more money. You can’t get back your time. If this is someone’s idea of a fun hobby, go for it, but it sure isn’t interesting to me.

In the past five years I’ve buried two grandparents and cleaned out their homes and prepped them for sale with my parents. I despise clutter. I certainly don’t need to go looking for more of it!

To me the point is to find that antique silver goblet from 1810 which is likely worth more than all the money spent on all the stuff bought and well worth the effort.
The point is also to spend $8 on books and get $33 credit at the book store.
The bow saw and mop bucket seem like they’re just extras.
The ‘junk’ can be given to a charity if it has worth or thrown out or recycled.

This is a pretty telling statement. It sounds to me like you are buying a lot of junk you don’t need that you recognize will be a burden to whoever has to deal with your house after you’re gone.

The books thing is interesting–you essentially paid $8 for some books you wanted plus a $31 store credit. You got the junk out of your house quick. But the rest of it…

That being said, I’m actually a big fan of auctions, and highly recommend going to one, ESPECIALLY if you’re an anti-hoarder type of person. And if you are a hoarder, and you’re trying not to be, I’d recommend going to some kind of impractical auction, like a construction equipment auction, or something.

Live auctions are entertaining and educational. Watching a skilled auctioneer operate for an hour or two is a lesson in efficiency: there is stunningly little down time between tasks, and any issues are resolved as quickly and painlessly as possible.

I bought my first car at a government auction, and got a pretty decent price. You can find your local federal government auto auction at http://autoauctions.gsa.gov

Perhaps at an out of the way location you can do well, but in my experience, the truth has been rather contrarian to the article.

“I should stress that I have no immediate need for a bow saw, a mop bucket, a floor jack or the books.”

…The way I see it, you wasted $15 on stuff you didn’t need and were not planning to buy. That’s not saving. And now you have to pay to store, organize and upkeep all that junk. You are getting a discount on ALL your imaginary future needs… Couldn’t you save time and money by still buying used if and when a future need actually does arise?

I would only go if we wanted to buy specific furniture or something now.