April

Successful Auction of Road Striping Equipment Demonstrates Steffes Group’s Flexibility

A lineup of Steffes Group auctions typically includes tractors, combines, sprayers and other farm equipment. But this week’s auction of road grooving and striping equipment called for more specialized communication to a different buyer base.

“The auction of equipment for Swanston Equipment Company’s Pavement Marketing Division was an exciting opportunity, allowing us to use our processes for marketing equipment to a different marketplace,” said auctioneer Brad Olstad.

Swanston, which continues its equipment business, had decided to close its division that provided striping services throughout the United States. The company has been in business for 55 years and operated in 47 states.

By any measure, the auction was a success, with a total sale price within 2 percent of our projections.

“The seller’s reputation was a big selling point, because other companies in the business knew and respected them. Bidders saw the auction as an opportunity to acquire well-maintained striping and spraying equipment, so we had a big response to the auction, with buyers from 15 different states,” said Olstad.

Most Importantly, the Auction Ended with a Happy Seller.

Swanston Vice President Chris Shea said, "We were absolutely more than satisfied with the results and the level of professionalism that Steffes displayed. Everyone went over and above and was more than willing to help with every aspect of the auction. I was especially pleased at the way they were able to tell a personal story about our history and our company."

Much of the equipment was common to many industries, such as pickup trucks and forklifts. But other pieces consisted of items specific to the striping business. “We’ve always been in the business of selling highly specialized equipment, so it was just a matter of paying close attention to detail, knowing what bidders needed to know, and communicating with them effectively,” said Olstad. “This was analogous in that it included a number of cab and chassis trucks with such add-ons as computers, laser-guided paint guns, and pumps. The devices were different, but the process is the same as that used for farm equipment.”