Redforlife pretty much summed it up. A lot depends on your area. If smaller or part-time farms held on longer, or are still in business, then you'll see more local auctions.
I don't like the online format as it is hard to know the condition of what you're bidding on (unless it is new old stock). Then there's whole transportation/shipping issue. I figure I have to be there to bring it home, so might as well be there to bid. Some stuff is not economical to ship long distances, so there the local auction still has an advantage.
Locally we have a consignment auction twice a year with multiple auctioneers. That is a good way to get experience. I got most of my hay equipment that way. Farm auctions come up about once a month.
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Today's Featured Article - New Life for an Old Allis - by Tyler Woods. My friend Jon, has an old '39 Allis Chalmers B. He thought it a marginal tractor that had long since served its time. She smoked terribly and never had much power but he couldn't afford another so he was limping along with what he had. Jon's Allis has a small front loader and though it doesn't carry much, it serves his needs. It was the hard starting and low power that made him think it was time to replace the old girl. Jon called me to help him discover why his tractor wouldn't start
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