Central Location, Efficient Format Leads to Excellent Outcome in Truck Auction.
MOUNT PLEASANT, Iowa -- As the auction world continues to evolve, Steffes Group continues to innovate with new methods and formats for every aspect of the business. Most recently, that took the form of a truck auction in our new auction arena in Mount Pleasant, Iowa.
The trucks were all on site, but rather than being rolled into the pavilion, they remained outside, and bidders in the pavilion viewed them on projectors. By the end of the day, 41 units had been sold, including 25 semis, according to representative Tim Meyer.
“While most sellers were viewing the trucks and trailers on the screen during the bidding, they had been available for inspection, and they were right outside for anyone who wanted to go look at them physically,” said Meyer.
The event attracted 165 active bidders, resulting in vigorous competition for the equipment. Two 2016 Kenworth T-680 semis, with virtually identical mileage, both sold for identical prices -- $54,000 each.
“One of the best tests for whether you’re getting a fair market price is consistency, and it doesn’t get more consistent than this. The two 78-inch high-rise sleepers had just over 500,000 miles. One had 17 bids and the other had 16,” said Meyer. A 1996 Peterbilt 379EHXD with more than 1.7 miles went for $28,500.
“Truck owners who were at the event were so impressed that we booked another 17 power units on the spot for our next truck auction, which will be June 18,” said Meyer. The company currently conducts at least four large consignment truck auctions.
The Mount Pleasant arena benefits from a central location located between Chicago, Kansas City and St. Louis.
Meyer said the company will allow the market to drive the company’s strategy. “Obviously, our location and format are working, and depending on marketplace factors, that will likely mean larger auctions and, if necessary, more events,” he said.
Those interested in selling trucks in the June 18 may call Meyer at 319-385-2000.