I feel your pain there. I hit auctions quite often. I bought a 79 3/4 ton w/ 454-th400 for $200 and a 82 3/4 ton crewcab 454/4speed for $300 at one auction and drove both of them home. I have seen some vehicles that I thought were scrap that went for rediculous prices. Usually I can tell pretty early if its gonna be a decent auction.
I got the sour end of the deal at one once, and havent let myself do it again. I bought a 95 Mercury Sable, 3.8, clean, cold a/c and ran like a top. Bought it for $700, went to drive it home, and it had first gear.......only. I wont buy anything but trucks at auctions now. That stupid little cars transmission was over $1500. I didnt fix it, I sold it at a loss, but not as much of a loss if I had kept it.