Two Major “Firsts” in a Week!
When you’ve been in business as long as we have, you don’t expect to do a lot of things for the first time. But we did this week, with great results in both auctions.
The auction of Crystal Sugar retains brought a total of $582,487 for payouts of $720,000 that are to be paid over five years, starting in 2019.
“We were very pleased with these prices, because bidders were buying a right to payouts that are not guaranteed and in some cases won’t be paid for up to five years,” said Ashley Huhn, Steffes representative. “That indicates that we succeeded in packaging the retains into lots and reaching the audience. Another factor is probably that this type of asset is rarely offered for sale outside of agriculture co-ops, so people who never have a chance to buy these were able to do so.”
The auction attracted 60 bidders, 10,955 page views, and a total of 510 bids for the 12 lots.
Truck Auction a Big Success
Steffes Group also launched our new Truck Auction, which attracted buyers from seven different states to our new facility in Mount Pleasant, Iowa.
“We had a nice crowd of about 200, with 140 live bidders and quite a few online bidders as well. In fact, we sold more than 40 percent of the trucks to online buyers,” said Representative Tim Meyer. “Everybody loved our new Mt. Pleasant facility, and because it’s ours, we had the flexibility of getting the inventory in place for inspections and allowing more time for load-out,” he said.
The new facility is strategically located for attracting sellers and bidders from St. Louis, Chicago, Kansas City, Oklahoma and other areas. The next auction is planned for October.“Those with trucks, trailers and related equipment can go ahead and contact us now to get them in our next auction,” Meyers said. He can be reached at 319-385-2000.