I saw a metallic, saucer shaped, buzzing and very visible saucer at a short distance

I was in Grade 12 or 19 at the time of the site.  Despite my young age, my mind was very lucid and clear.  No belief in UFO's or sightings prior to that or after the event took place.  Went out for a job on a track on a very clear night.  I heard a humming noise above me, looked above, and I saw a saucer. It was at a 60 degree angle from my position, i did not have to tilt back to look at it.  It was flat at the bottom, had a base, and capped at the top, sort of looked like a half circle.  Metallic in nature.  The lights were red and very bright, flashing on and off.  I could not determine if the base was spinning on it's axis or if i got confused by the flashing lights.  I had no time to get a camera but I'm certain it was visible to other people.  It flew away into the horizon, gone from site.  It was definitely, metallic, saucer shaped, big, noisy and very visible.  A thundering jet flew over an hour later in the area.
 I report it now because I listened to Art Bell's show last night and listened to a similiar descriptive sighting.  I did an enormous amount of research on such a craft, told by experts no craft exists in operation.
  I graduated from UofT in accounting and work as a financial analyst.