I was once at an auction for a machine shop that closed in NC. I had researched the price for a Lincoln tig welder that was there, and looked to be in good condition. Myself and two other guys bid for it, and it kept going up. The guy that got it paid more than the new list price. When I left he was standing next to it, wiping the dust off the top with an ear to ear smile. I thought,"What a wailing dumbass". Was my last auction, as I'd seen similar things happen to many times. Just my .02 on auctions.

Ayup. NC doesnt have a large surplus of machine tools as do other
states and they will go for prime amounts. Iggy will verify that in
once industrial areas like Chicago and surrounds..stuff will go much
much cheaper.

A perfect example of this is the difference in price between single
phase and 3phase versions of welders. Hobby guys keep the market
going on single phase machinery

Gunner

Yeah, if I remember right, it was single phase 220 welder. But you'd think a guy would check the new price on something before heading to an auction. I still hold that he was about half a bubble out of plumb.