Vacation is over and I hit the ground running. I attended my favorite estate auction last week with one goal in mind; profit.
I did my usual before attending the auction and scanned through Auction Zip looking for any potential opportunities. Multiple items interested me, but the one that excited me the most was a vintage Sanyo record player that looked like it was straight out of The Jetsons.
Doing the Math Before Bidding
I decided to look up the value of the unit on eBay to see past sales. Units sold for between $2200 and $2800, which isn’t bad if I could purchase it for the right price.
I told my wife that I intended to buy the record player no matter what and I might go up to $1000. She just glared at me and said okay with unsure eye contact. My mind was made and I could tell she knew it.
Auction Day: Race Against the Clock
As usual, my favorite estate auction starts one hour exactly after I get off from work, so I found myself speeding down the highway hoping to get there in time. Fortunately, I made it and had enough time to do a thorough walkthrough before positioning myself for bidding.
Because the auctioneer did not call the lots in numerical order (quite common practice), predicting my wait time was difficult. But today was my lucky day.
The Bidding War for the Sanyo Phonosonic
I only had to wait about 20 minutes and the Sanyo Phonosonic came up for bid. The auctioneer started it out at $50 and it quickly rose in price. Before I knew it, I was going head to head with one other bidder and the room went quiet.
$400, $450, $500, $550, $600, and then $650.
At this point I was nervous and started become unsure of myself. I decided to hold my ground to $650, $700, $750, and my final bid at 800. The other bidder admitted to defeat the auctioneer made one offer of $825. Then the magical words SOLD was bellowed out by the auctioneer.
Claiming the Prize (and the Nerves)
The floor runner brought the unit over to me. I immediately grabbed the record player and exited the room with my prize. Walking to the car, I began to get nervous because the battle wasn’t over yet.
I still need to test and sell this record player. I decided to push the negative thoughts to the back of my head and continue with the auction.
Testing Day: An Unexpected Problem
I let the unit sit for a few days without testing it. Don’t ask me why—nervousness, I guess.
When I finally tested the unit, the radio and light worked immediately, but I discovered that the unit was missing its 45-rpm adapter. I was quite frustrated and started searching for local stores that carry them, which do not exist. Everything is online these days and this unit is 50 years old. What was I thinking?
My wife came to my rescue with a small piece of cardboard. She managed to position the record perfectly and it played. I can’t describe the feeling of exhilaration.
Next Up: Listing for Profit
Now its time to list on eBay and Etsy and wait. The good thing about an item like the Sanyo Phonosonic is that usually only legit buyers are interested.
But the deal isn’t complete until the unit is in their hands and they are happy. I will keep you up to date with the future sale and hopeful success.
