Live & Online Auction Attendance Remains Strong
Bob Steffes was a man of ambition. In December of 1959, he attended Reisch School of Auctioneering in Mason City to prepare for the auction method to approach eastern North Dakota. However, what he didn’t expect is how radically this industry would change before his eyes within decades as technology evolved and changed everything about it from marketing practices to buyer activities. “Technology has changed everything", says West Fargo Site Leader Max Steffes, and grandson of founder Bob Steffes.
Steffes Group, Inc. has been performing timed online auctions for decades, and now, it accounts for more than half of the auctions they do each year. The COVID-19 pandemic forced Steffes to convert all live auctions to their timed online platform in March 2020, and the number of bidders only increased. Seeing 1000+ bidders registering for each auction while individuals around the world were forced to stay home, it was anticipated that as live auctions resumed, online auction attendances would decrease as auction-goers were eager to return to in-person. However, what has been seen in recent months is quite the opposite. Although live auction attendances are seeing impressive numbers, online bidders continue to have a strong presence across all industries, agriculture, construction, transportation, real estate, and more!
The Rental Services Retirement auction in Sidney, Montana was held in late April and had nearly 400 registered bidders on-site, and an additional 2300 online. The Sportsman Auction Event in Mount Pleasant, Iowa was held in early May and had over 1,000 people on-site, with nearly 700 more joining online. One recent timed online land auction in Walsh County, ND saw an impressive 44 registered bidders, proving that the number of bidders is increasing across all industries.
Both live and online auction attendances are increasing as the market remains strong following the COVID-19 pandemic. The auction method of marketing continues to be the first place changing markets are discovered. If you want to take advantage of the strong market and increasing crowd sizes, contact us today to discuss your options!