Is the Lily Auction dangerous to your financial health??

12 years ago

I am pretty much a newbie to growing Daylily cultivars, and last year was the first time ever growing them from seed (got the seeds on Seed Exchange forum). So last week I thought it would be nice to get some daylily seeds to grow this Spring, and started to peruse the Lily Auction. Well, within a few short days I've won 7 auctions, totally 66 seeds for about $40 plus shipping. That should be enough, right? But I'm still looking at auctions, it's so much fun.

Honestly that is a lot more than I've ever spent on any kind of seed, but I justify it telling myself it's a cheap albeit slow way to get some nice plants. I've also fallen in love with Rose F Kennedy and a few other cultivars (wouldn't you know, expensive and unavailable) and thinking about bidding on some fans too!

Should I be worried?? That Lily Auction seems like a dangerous place...lol

Sort by:Oldest

Comments (11)

houstmag
12 years ago
Good luck with all your seeds and yes the Lily Auction is dangerous to your wallet. I've lost track of all the money I've spent on it, not to mention I'm running out of room for all my new daylilies, anyway welcome to the addiction.
Linda
organic_kitten
12 years ago
Indeed it is dangerous to your wallet. It is surprising how much you can spend in a short time. But you get beautiful daylilies.
kay
Related Discussions
Another Seedling Thread...auction seeds
Q
Comments (34)
Nikki, Glad to hear you kitty is not suffering ill effects from the dl. Hope he gets through his surgeries OK. Virgo45, Thanks for posting again. It's hard to tell w/my monitor but those last too look like near-whites. I would not have imagined that from their parents other than just that you are working in the pastel range which I'd suspect near whites being more common there than say in a darker red/purple range. Mark, good luck with your auctions. I've noticed that traffic seems slower on the auctions after 1/1. I've seen a couple other posts here that a few people are trying to lay-off the auction frenzy until spring. At least one seller has told me she does not plan to offer more auctions this year. Maybe someone who has been around the auctions longer could enlighten us if that's an annual pattern. It certainly means that the bidding wars are less frequent so maybe there's a chance to get what you want at the basement prices?
...See More
Trying to figure out the financial viability...
Q
Comments (7)
longday1, I have been wondering the same thing about some of the vendors at my market. What I have decided is that the ones who are not doing great sales must have other income. They have husbands with good jobs, are on seniors pension, and at least one at my market is on social assistance. Either way, they are there as a hobby not for their full time livelihood. More likely than not they are barely coving their expenses and most only last for a few seasons. As for the expense of a commercial kitchen, I know that some people use a church kitchen, they just pay a donation to the church not a full rental amount. And where I am, only baking sold individually, for immediate consumption needs to be made in a commercial kitchen. Pickles can be made from home but jams need a commercial kitchen. Meat products must be made in a commercial kitchen. It varies from region to region and is based on issues around 'dangerous' foods that can contain pathogens. As far as hobbyists go at the market, I have mixed opinions. When hobbyists start taking vendor space from full time farmers I think the market is on a down turn. The quality of the product decreases and market politics increases. It gets really annoying when some pensioner comes in and dumps a few pounds of produce at next to nothing and I have to spend the rest of the day explaining to customers why my product costs more than his. But I am getting off topic!
...See More
Dangerous Unintended Consequences
Q
Comments (41)
Hi Bethesdamanman, My apologies then, Dave. I thought that I had recalled you posting on the other board that mortgage rates would stay low for years and years, and that we would never return to the high rates of years past. My error. Eeeesschhh .... well.... actually... kinda sorta, YES.... your apologies in this case are NOT warranted. Herein lies a case of "text failing where a verbal conversation *may* have worked better." I've never said rates would stay low "well... forever".... I HAVE said rates (30 FRM rates to be precise) will unlikely climb over 7% in our lifetimes. I *STILL* stand by that.... albeit, I am now offering that we are entering a territory of government-induced inflation at levels I (perhaps naively) thought the United States political system was above. If we continue down the path of dollar-dilution that we've begun accelerating along, there are only two end-game results; A) we reverse course back out of it before we self-destruct in revolution, B) we self-destruct (and the devil we do not know is always a potential problem.) *IF* we successfully reverse and dig ourselves out of the hole of trouble our most recent past and our current government administrations are hell-bent on digging us into... there are only two ways of "sopping back & vacuuming up" the diluted unbacked funny-money that has been injected out into the system; A) The Treasury collects more taxes than it provides to the government to spend, and/or, B) The Fed increases interest rates higher than its blended payout on the treasury bonds (and then some... the greater the positive income spread to the Fed, the more painful to the "fixed-income retired crowd" which is our baby-boomer bubble... who will rally with AARP-sponsored pitchforks.) Both A & B will be met with *MASSIVE* resistance from the only crowd that the poloticos *KNOW* will consistently show up to vote, and have almost unlimited spare time to write, call, email, and generally pester the daylights out of the politicians; The Seniors. SO.... I've learned to never rely on "common sense" when it comes to anticipating "government logic" (an oxymoron if there ever was one.) Obama has enlisted the original architect of option B... Paul Volcker... as a "senior economic advisor." ("Senior" may (MAY) work somewhat to our advantage here... as Gramps Volcker *MIGHT* have some age-gained sensitivity to his classmate comrade's plight.) Volcker is the one who decided to fight inflation in the 1970's by driving short-term interest rates up to the 20%'s... The late '70's and early '80's result was that Volcker recaptured (in a VERY painful way) the excess liquidity (flooding of funny money) our country created by going off the gold standard and adopting a "weak dollar" policy through the 1960's. WHAT WILL WA DC DO??????????????? I dunno.... (I know what I pray/chant/meditate they will do...) *IF* the government (both the loonie left & jackthug right) get OUT of the way of the naturally balancing markets... then my expectations and predictions stand, with virtually my 100% confidence. My fears are that the United States idea of a market-based capitalist self-righting system has been a grand and wonderful social experiment... but that the human frailties (compounded in mob psychology) are sabotaging the underlying DNA strands that made it possible to stand. My COMFORTING REALIZATION... is that despite my egoistic pride for being part of a "successful system".... even if that system turns out to be a decaying failure, INDIDIVIDUALLY I and my family, and those I guide, can still retain their own personal success and quality of life. Cheers, Dave Donhoff Leverage Planner
...See More
Financial Planner - Lesson learned
Q
Comments (19)
Comprehensive financial planning involves a lot of issues - legal, familial, financial. If you are comfortable handling EVERY aspect of your lifestyle situation, then by all means go to a 'specialist', e.g., a broker or investment advisor for your financial affairs. There is nothing wrong with this; I do all the integrated estate planning for my DH and I. But the time I spent working in the CFP's office, as I mentioned, made a BIG difference in my understanding of the various issues that clients and their families face at various stages of their lives. However, many people are not knowledgeable or interested in integrating all their affairs in a comprehensive and wholistic manner. As has been often proven, a little knowledge is a dangerous thing, as is doing things half-way but not thinking things through to their logical conclusion. And even if you are comfortable handling every aspect, is your spouse? Are each one of your children? Do they all work together well? Be honest with yourself about these questions. So many people accumulate a sizable estate, only to have the family fight over it, or waste the assets because they really don't understand the various tax/legal implications of their inheritance. There are still way too many people in this world who are less than 60 and think that having a million dollars means they are on Easy Street for the rest of their life. My MIL, for instance, thinks that if she wins the lottery for $3M, that's more than enough money for all three of us - she, my DH, and me - to take early retirement and live in comfort the rest of our lives. By the time you take Cash Value instead of Annuity Payments, that $3M is down to $1.6M. Taxes will take another 40% between Fed and State. Hmm, she's down to $960K already, and even just the dividends off that have popped her up 2 tax brackets in annual income. Nope, not a lot of money at all, in reality. This is why I insisted we find a CFP to handle her affairs. Her financial knowledge is nada/zip/non-existent. Her DH left her financially secure, but completely ignorant. And at age 79, she isn't about to learn how to handle her affairs. She is the poster child for an elderly person ready to be swindled by the first smiling, friendly, respectable-looking broker who's introduced to her by one of her 'friends', who are as sophisticated as she herself is - which is to say, not at all. For instance, do your children and spouse know how to handle an inherited IRA? Do they understand the difference between an IRA that has never been drawn down, vs one where RMDs (Required Minimum Distribution) have started? Do they understand the tax implications of selling out of mutual funds? Do they know where to go to get the cost basis? A good CFP has the fiduciary responsibility to see that your assets are passed along in the best possible manner and that your heirs have all the information they may need to make their own decisions about what to do with their inheritance. This is why only certified planners can do "financial planning". It isn't a simple "nuts and bolts" affair for everyone, although it can be for some people. But the more assets you accumulate, the more value comprehensive financial planning advice is likely to give not only you, but your heirs. If the shoe fits, you can wear it but you don't have to. However, there's no doubt that a sizable amount of $$$$ has gone to lawyers, state and the Federal governments, from estates that could have benefited from the original owners spending a relatively small percentage on their assets on quality professional advice.
...See More
Nancy
12 years ago
I have never bought anything from the auction, simply because I know I would be immediately broke! I have the daylily addiction bad, & just feel I NEED every daylily I see. There are way too many on the Lily auction I'm sure :)
tepelus
12 years ago
I haven't bid on there for the past couple of years (I forbid myself to even go take a look), but the first year I discovered it I couldn't stop. I spent way more than I should have, but what the hey? You only live once, might as well surround yourself with the things you enjoy, even if it may break you for a bit. lol! Well, that's what I tell myself.

Karen
marricgardens
12 years ago
I bought on the Auction for the first time last fall. I had planned to only spend $50 max but uh-uh. The longer I stayed on there the more I saw that I liked, LOL. I still check the auction and am tempted to buy but am being careful not to overdo it. The seeds I did buy were crosses made from cultivars I wouldn't normally be able to afford. This way I figure I can at least get some good hybridizing traits in my own daylilies. Marg
newyorkrita
12 years ago
I have bought too many daylilies to count and spent lots and lots of money at The Lily Auction. But I am not sorry at all! Yes, if you don't want to spend money, it is a very dangerous place to be. It seems to be almost immpossibe to "just look" and before you know it something else you just had to have gets bid on.
mizellie
12 years ago
Welcome to the forum and RUN AS FAR AND AS FAST AS YOY CAN.

The auction is a VERY dangerous place to hanging out!! Ellie
alameda/zone 8/East Texas
12 years ago
It really is an addiction.......I have LOTS of plants coming this spring, I am trying to keep seed buying down a bit.....but am still bidding on some. Just when I think there arent any more that I have to have.....along comes one then that starts the whole process all over again. Maybe now that good weather is here I can wean myself!
terrene
Original Author
12 years ago
Thanks for the welcome! Well I'm bidding on two more auctions for seeds, and I've already won auctions from both of the sellers, so I'm trying to take advantage and "combine" shipping. And one is a cross with Rose F Kennedy ($13.00 for 5 seeds so far) and so those seeds should produce real beauties right? (I dunno, maybe most of these seeds will turn out to be duds?)

Of course rationalization is one of the hallmarks of addiction, lol. But seriously, many hobbies are more expensive than gardening, like skiing, or boating, even collecting chotchkes. Heck people drop $50 or $100 or more for dinner and drinks or a night out, and nothing to show for it but a memory of a good time. At least I will have beautiful flowers that bloom every year. :)
organic_kitten
12 years ago
Ha Ha Ha! Uh huh. I recognize that (spurious?) reasoning. Just wait until the expensive daylily you have been lusting after is on the auction "cheap" and then another one. Uh huh! Gardening is a less expensive hobby. I try to tell DH that, but he knows better. You are in the right crowd, for sure. And welcome by the way.
kay
Cindy zone 6a
12 years ago
Welcome!! I agree that the Lily Auction can be dangerous! However, I don't regret any purchases or should I say 'wins'. It is a great way to get daylilies that would otherwise be unavailable or way too expensive for me. I try to set limits and so far I have been able to hold out and not exceed my self imposed limits. But then I have surprised myself and bid on ones that I would have never spent that money a few years ago. Funny how my 'limits' keep going up!!LOL. Or I make excuses like it is my birthday present to myself, or I will get this one and then no more!! Cindy

Is the Lily Auction dangerous to your financial health??

Comments (11)

houstmag

organic_kitten

Related Discussions

Nancy

tepelus

marricgardens

newyorkrita

mizellie

alameda/zone 8/East Texas

terrene
Original Author

organic_kitten

Cindy zone 6a

COMPANY

BUSINESS SERVICES

GET HELP

CONNECT WITH US

Is the Lily Auction dangerous to your financial health??

Comments (11)

Related Discussions

terreneOriginal Author

COMPANY

BUSINESS SERVICES

GET HELP

CONNECT WITH US

terrene
Original Author