Nearly Half of Homes in Collin County Sell at Auction

The Texas Residential Real Estate Market is Hot

For most families, their home is the single largest and most appreciable investment they will make. The idea is simple, buy a home, pay your mortgage, make improvements, build equity. In several Texas markets the professional real estate industry is struggling to accurately price homes. Every seller and every real estate agent earnestly desires to sell homes for the maximum amount the market will bear. Real Estate agents walk a fine line between underpricing and overpricing. On one hand, underpricing the real estate agent risks losing thousands of dollars of their client’s money and commissions. On the other hand, if the agent overprices a property it goes stale and does not sell in an appropriate time.

Hot real estate markets are a blessing and a curse. Our staff recently compiled and studied data from several of the hottest residential real estate markets in the DFW metroplex. What we found was astonishing and should be worrisome for 65% of homeowners in Frisco who are in the process of selling their homes. Depending on the community, 37-65% of the homes sold were priced lower than they actually sold for.  Our data, provided by North Texas Real Estate Information Systems, showed pricing discrepancies from just a few hundred dollars to as much as $49,000 for single family homes.

Realtors Struggle with Pricing

You may ask “Are Real Estate Agents really this inept?” Absolutely not. The problem in this case is not the real estate professional. It is the speed of the market. Seller’s need to understand that real estate professionals use “Sold” comparables to decipher market data and ultimately recommend a listing price, which is the best way to accurately establish a marketable value. The problem is the sold price is not reported until the transaction closes. If a home closes today it is highly likely that the price was negotiated 30, 45 or even 60 days prior to today. Each transaction has many moving pieces such as inspections, appraisals and financing, not to mention the speed at which a seller is willing to surrender possession. When the real estate professional meets with a prospective seller tomorrow and uses the sale that closed today the market data may provide an illusion of freshness but in real world terms it is 30-60 days old. These markets are simply moving upward so rapidly that the sales data cannot accurately portray market value.

Timing is Everything

Our staff also concluded that the average length of time a home is on the market is just over 8 days. Many properties experience only 1-3 days on the market, few see the 20th day on the market. Our staff actually threw out any property that was on the market for over 35 days, as it was a sign of extreme overpricing or total undesirability in the marketplace for some reason. Out of 110 reviewed properties, we threw out only four because of the 35 day cut-off. When property is selling in less than 72 hours sellers are only receiving offers from a limited number of the actual interested parties in the market. In layman’s terms, the property is not given an opportunity to ferment and get full exposure in the marketplace. Seller’s in these markets are like college kids getting drunk on Boone’s Farms Strawberry wine instead of slowing down, investing a short amount of time and enjoying the full bouquet of a 2005 Château Pétrus. While both get the job done, you’ll feel better in the morning knowing you slowed down and experienced the latter.

What Can Sellers Do?

If professional real estate agents are behind the curve, what is a seller to do? Simple, take control of the process. Let the market work for you and allow the buyers an opportunity to financially compete to own your property. Market your home by auction. Yes, by auction. Our data shows that 40% of homes in Collin County, Texas alone are being sold by auction. Just not in the traditional sense. When real estate professionals list a home and sell it for more than the asking price, with multiple offers they are selling by auction. The problem for sellers is you have listing specialists conducting auctions, much like going to your Proctoligist when you need to go to the Dentist for a toothache. Both service providers are specialists, both have medical licenses, both have your good health in their best interest but they should not be interchangeable. When you think about it, do you really your Proctologist and Dentist to be the same person? Of course not. You should not want your listing agent to be your auctioneer either.

Auctioneers have the unique experience and education to handle the problems found in hot sellers markets. They know how to manage what is often a high stress and chaotic process to achieve the maximum value for your property. An Auctioneer’s everyday job is to assemble multiple buyers and encourage them to compete against each other financially to own a particular offering. A Professional Auctioneer will establish a date and time your property will sell, whether it is an online or live auction. That date will give the auctioneer time to inform all interested buyers through their proven marketing plan about the offering, conduct open houses, showings and assemble them in one place at the time of the auction. A 21 day marketing period will certainly attract more competition on a predetermined date than a one day listing. Thus, maximum competition results in maximum price.

Sellers Benefit From Auction Marketing

Experienced real estate auction firms know how to structure an auction to achieve the top price. Many buyers and real estate agents alike think that cash must be presented for the total sales price immediately following the auction. That is true in foreclosure sales, but not in the open market. Auctioneers have learned in recent years to move with the market and allow financing and appraisal contingencies to buyers to maximize the return for sellers. Inspections, Title Opinions and surveys are often done prior to auction day so there are no unsavory surprises between the auction day and closing.

Sellers have different needs that can be solved with the services of an professional auctioneer. Say a seller wants a two week temporary lease after closing to move out, not a problem. The auctioneer simply makes the Temporary Lease a condition to the auction and the successful buyer is contractually obligated to honor the lease. With an auction the seller gets to set the rules, the date and the terms of the sale. They also remove themselves from the gut wrenching negotiation process as the terms of sale are the same for all buyers and they are competing against each other instead of the seller.

In short the auction process managed by a professional auctioneer with proper real estate licensing and experience will likely prove much more enjoyable for sellers in these hot markets. Additionally, auctioneers welcome the opportunity to work alongside real estate professionals who each have a common goal – to sell your home for the top market price. If you have a real estate professional that you are comfortable with but you want to consider selling by auction the two professionals can work together seamlessly with no additional cost to you, the seller. Experienced auctioneers will also offer traditional co-brokerage to any agent that brings a successful buyer to the auction which increases the pool of potential buyers and drive price even further.

When it’s Time to Sell an Estate…

Many people, confronted with the overwhelming and unfamiliar task of disposing of personal property due to a family member or friend dying, have little or no idea what the key differences are between an auction and a tag sale (tag sales are sometimes called “estate sales”).

A tag sale involves, basically, a person hired by the fiduciary who will “price” each item with a tag, indicating that the item is available for sale at that price. Too, most tag sale attendees assume that there is room to negotiate, so a fair share of items marked with a price sell for less. Tag sales are sometimes spread over more than one day, where prices are systematically lowered on the second day, third day, and the like, to facilitate further sales. Typically, at a tag sale, a fair share of the items do not sell.

An auction involves, basically, a person hired by the fiduciary who will market and sell items “to the highest bidders.” Most auction attendees understand that items will be sold to the highest bidder, and that they will win any item where they outbid all others. At an auction of personal property, there is typically no set prices, and the market sets the ultimate selling price. Typically, at an auction, all the items sell.

Let’s begin with an overall statement in regard to the basic sales mechanism used by tag sales versus auctions:

  • A tag sale uses a price discount model where items sell for, at most, the price tagged on the item, or less.
  • An auction uses a competitive bidding model where items sell for whatever the highest bidder is willing to pay.

The other major difference between a tag sale and an auction is a tag sale service provider must know how to price every item being offered, or suffer less than optimal results. An auction service provider (an auctioneer) relies on the bidders to realize full price discovery.

Let’s use an example; an estate has a signed and marked Rookwood Vase dated 1921. However, this vase has an unusual scene on it, which is not documented in any Rookwood books or reference guides. At a tag sale, how is the tag sale service provider to price this vase? This presents the basic flaw in tag sale marketing:

  • If this vase is under-priced, it will sell for less than market value.
  • If this vase is over-priced, it will not sell at all.

This same vase at auction will sell. It will sell to the highest bidder. What will it sell for? Whatever it is worth — market value.

Then, there is the dark side of tag sale marketing:

    1. Upwards of 80% of the items in a tag sale are sold below market value.
    2. Upwards of 20% of the items in a tag sale will remain unsold.
    3. 100% of the items will sell for no more than the “tagged” price.
    4. Often times, items are under-priced and directed to other dealers, family or friends of the tag sale service provider.
    5. Some tag sale providers over-price some high-end items until the final day of the tag sale, where they can contact other dealers, friends or family, and discount the item to them.
    6. Almost always, the tag sale provider lacks the expertise to properly price all items, therefore full price discovery is not accomplished.
    7. Regulation and licensing of tag sale service providers is almost nonexistent in the United States. A harmed seller would have no choice but to sue in court for damages.
    8. Most tag sales lack sufficient marketing to attract the most qualified and interested buyers, therefore applying downward pressure on sales results.

An auction attracts large crowds of ready, willing and able buyers, through extensive widespread marketing, who have to compete to purchase items they desire. Full price discovery is accomplished, and nearly all items sell, and all items sell for market value.

When is a tag sale a preferred method of selling? An auctioneer had on his website the following two reasons why a client might prefer a tag sale over an auction:

  • The X Factor: You are hesitant because of the “unknown factor” of what your merchandise will bring at auction.
  • Control: You might like to have more control over the prices that you feel your merchandise should bring by providing some input or setting prices at which they are offered to the public.

We would ask the following questions about these two reasons:

    • 1. What exactly is the “X factor?” In what market scenario does someone know what their item will sell for?

At auction, it sells to the highest bidder. In a tag sale, it basically sells for less than market value, or doesn’t sell at all.

    • 2. Control? How can someone control the price at which something will sell? Items sell only if a ready, willing and able buyer agrees with the price. Here again:

At auction, it sells to the highest bidder. In a tag sale, it basically sells for less than market value, or doesn’t sell at all.

I would submit that a tag sale is never preferable to an auction. With a tag sale providing that an items will sell for less than market value, or not sell at all — an auction, on the other hand, virtually guarantees market value, and sellers can place reserves or minimums on items, if they so desire, further assuring them an item doesn’t sell below a certain amount.

We brought up a 1921 Rookwood Vase earlier in our story. This vase was purchased at a tag sale for $30 and sold six months later at auction for $3,500. This type of thing happens all the time at tag sales, estate sales, garage sales, and yard sales — where an item is sold at auction later for more. In fact, this would hardly be a record.

ABC News reported in October, 2009 of Teisha McNeal of Shreveport, Louisiana finding a Picasso painting for $2 at a yard sale, and later discovering auction estimates of nearly $2 Million. See the entire story here: http://abcnews.go.com/GMA/Weekend/finding-art-Picasso-treasure-trash/story?id=8904941

How does an auction compare to a tag sale or estate sale? Quite favorably.

This article is courtesy of Mike Brandly, Auctioneer, CAI, AARE. Mike has been an auctioneer and certified appraiser for over 30 years in the Columbus, Ohio area. He is Executive Director of the Ohio Auction School and a recognized authority in the auction industry.

 

President Trump’s Childhood Home Sells at Auction

Flipper makes 53% return in 30 days using the auction method of marketing real estate.

President Donald TrumpA New York real estate investor purchased the childhood home of President Donald Trump this past December for $1.39 million. Throw in the auction method of marketing and a 30 day auction marketing plan sales price of $2.14 million is achieved. A 53% return on investment. And they say auctions are the method of last resort, fire sales and giving your property away.

 

CBS News reports that president’s father, Fred Trump, built the home in the Queens neighborhood around 1940, and the Trump family lived there for 10 years before moving around the corner.

The Trump homestead offered five-bedrooms, 4.5-bathrooms, an eat-in-kitchen, formal dining room, fireplace, screened patio, den, finished basement, and hardwood floors along with a two-car garage.

Michael Davis purchased the home in December from Isaac & Claudia Kestenberg, who purchased it in 2008 for $782,500 and later sold it as part of divorce proceedings. The Kestenbergs  wanted to auction the house in October, after the third debate between the Donald Trump & Hillary Clinton. However, they chose to postpone the auction after “significant media attention.”

The home’s address is 85-15 Wareham Place in Jamaica Estates, in New York City’s Queens neighborhood. This is the address listed as the home address on the president’s birth certificate. Median home sales in the neighborhood is $850,000 according to Trulia.

Mr. Davies sold the home at auction grossing 2.5 times the median home value in the neighborhood, that is a deal that Donald Trump himself would be proud of. How do you place a value on the childhood home of a President of the United States? Simple you tell the market what day it’s going to sell and allow them to financially compete to own it.

The losers in this deal are the Kestenbergs. When “significant media attention” happens in the auction industry we call that “free advertising”!

Read the CBS News Article Here

$468 Per Pound Beef?

Grand Champion Houston Steer Brings $345,000

$468 Per Pound BeefWhen the Grand Champion Steer at Houston goes across the auction block it is a sign the stock show season is over. An Anson, TX teen was a bit shell shocked when the show judged slapped the teen’s steer 1,283 pound Charolais named “Playa” on the hip, signaling the Grand Champion of show. Not just any stock show, the granddaddy of all stock shows, the Houston Livestock Show & Rodeo. The 15 year old will take home $75,000 of the proceeds while the remaining will be used by HLSR for scholarships.

A unique surprise at this year’s auction was country recording artist, Zac Brown achieved high bidder status at $330,000 for the reserve champion steer. Mr. Brown credits his ability to succeed in the music business to his experience as an FFA member in high school. Mr. Brown stated that he was thankful for his FFA opportunity, and the success he has achieved in the music business and wanted to give back. That is a story in and of itself.

“Playa” might have neared the $500lb mark but he did not come close to the $600,001 record set in 2002. With the disparity between “Playa” and the 2002 champion it makes one ask “Why not opt to list the steer with a cattle broker, why not put an ad on Facebook, etc?” Because markets change. The cash market within corporations and wealthy supporters has changed in 15 years. When the markets change new values are established, sometimes higher, sometimes lower.

Auctions obviously provide more excitement than a listing with a cattle broker or social media ad. More importantly an auction puts all interested parties in one room to compete against each other financially for ownership or in the case of stock shows and Mr. Brown the opportunity to give back and change lives of young people.

For the full story visit the Houston Chronicle article.

~Brent

 

Multi-Parcel Land Auctions and Puppies

My Favorite Auctions…

I hope that if a person spends five minutes with me they walk away knowing I have a passion for auctions. My favorite auctions  are Multi-Parcel Land Auctions. Multi-Parcel auctions  offer large tracts of land in smaller tracts, typically a farm or ranch. These auctions allow bidders to bid on the smaller tracts individually or any combination of those tracts including the entire offering and everyone competes against each other. Multi-parcel auctions are the most complicated but to me the most exciting because of the hyper-competition they create.

A successful Multi-Parcel typically takes 60-90 days of preparation by our entire auction staff. We literally have the marketing timeline on special software to make certain we hit all the marks to assure success. Then on auction day all of our hard work gets graded by the marketplace. As the auctioneer in a Multi-parcel it is important to know the buyers, their motivations, their desires and their plans. Our bid assistants do most of the work, they make me look good while I feel like the ringmaster under a big top. When the bidding is done and I slam the gavel down on a multi-million dollar real estate auction I know I am doing what God made me to do. These auctions incorporate my love of the land and the free market expressed through auctions and I am like a little kid with a shiny new toy in a sandbox. Land auctions are my drug of choice.

I Hate (selling) Puppies…

A few years ago our family had a female Rottweiler and an opportunistic male Australian Shepard. We looked up one day and the Rottweiler had given birth, not to a litter, but a herd of puppies…14 to be exact!!

puppies and auctionWhat does one do with 14 mutt puppies you ask? Anything they can. Four died within days of birth, which gave some relief. We sold as many as we could, gave as many away as we could and still had two males left. Needless to say we had run out of friends. It was like we were peddling Amway to everyone we came in contact with. Friends stopped going to church for fear we would put a puppy in their truck during Sunday School.

Every good auctioneer has a plan. Luckily at about the 8 week mark we had a large business liquidation auction coming up. We took the two puppies, had the kids carry them around and announced we would sell them at 12 Noon and donate the funds to the local no-kill shelter. Sounds like a great plan, right?

I started auctioning the first pup and things began to fall apart. He was staring me down with, you guessed it, puppy dog eyes. Here I was the only adult human male figure he had ever known and I was selling him off to the highest bidder. I gotta tell you, I felt as low as a snakes belly when I called that pup sold. If memory serves correctly he brought $500 or $600. A very large man with a full white beard was the high bidder and I have no doubt they made a great pair. The second pup brought considerably less, I think $100-$200. When I called it sold I saw the err of my ways. Let’s just say this buyer did not seem as loving as the first buyer. I fear he had big plans for that dog and to this day I still cringe when I think about it.

After the pup auction, I turned to Ashley and said “I’ll never sell another dog at auction as long as I live”. I have since made the exception of selling older puppies at benefit auctions like Ducks Unlimited and NRA. With that one exception, I will buckle up and own too many dogs myself before I sell another puppy at auction.

When people ask what is the oddest thing I have ever sold I struggle to come up with an answer, there have been several. But the hardest lots I ever sold had wagging tails and puppy dog breathe.

~Brent

Tom Brady’s Stolen Jersey Estimated at $500,000?

Auctions Determine Real Market Price

Tom BradyThis past Sunday, NBC Sports reported Terry Bradshaw’s playoff jersey from 1977 fetched over $66,000 at auction! Included in the same auction a Franco Harris jersey went above $60,000 and a  Mel Blount jersey topped $40,000. (You can read the full article here) Take note that when the rich and famous sell their prized assets they use the auction method of marketing to establish the market price.

The official police report states the value of Tom Brady’s missing jersey at $500,000. With realized prices of the Bradshaw, Harris & Blount jerseys the estimate may be pretty close considering the historical Super Bowl significance of the Brady jersey. Or is it too low? How do you price such an item? Simple, you let the market decide. Now that the jersey has been stolen and taken on a life of it’s own with it’s very own provenance the estimated value may prove too low if in fact it is ever returned to Mr. Brady and placed on the auction block. It may very well be the most famous football jersey in the world.

Terry Bradshaw, Mel Tillis and an auction crew…

Speaking of Terry Bradshaw… About 15 years ago I worked the Branson Collector Car Auction. In those days the auction was held at the Mel Tillis Theatre in Branson, MO. The auction lasted all day on Saturday and most of Sunday. One caveat to holding the auction at the Mel Tillis Theatre was that the auction on Saturday must be completed by 6PM so Mel’s show could go on.

Following the auction, several of the auction staff had a rare opportunity to converse with Mel’s longtime bass player. He entertained us with stories of being on the road with Mel and the rest of the band. Several of those stories included Terry Bradshaw. While I cannot share some of those stories on this page, I can say that those days in the 1970’s and 80’s must have been highly entertaining while in the presence of Mr. Tillis and Mr. Bradshaw. Few people can make me laugh like Terry Bradshaw, I’m sure unhinged and without cameras he would keep you in stitches.

The bass player wrangled us up some tickets for Mel’s show and while Mr. Tillis was well into his 70’s he never missed a beat and put on an awesome show. The auction profession has allowed me the distinct opportunity to travel all over the U.S., meet some great people and hear some fascinating stories.

Maybe someday I will get the opportunity to auction off Mr. Brady’s famous jersey. The odds are slim, but in this business you never know.

~Brent

 

Major Advantages of Real Estate Auctions over Conventional Listing

Auctions have many advantages for the seller over conventional listing methods.

for saleReal estate auctions offer many advantages in today’s market. Sellers typically prefer not to wait months or even years to receive an acceptable offer on their property. As a seller, you ideally want an offer as quickly as possible to turn a page in life and to move on. The auction method of sale is the only suitable choice for that situation. Selling real estate by auction is perfect for sellers who need to sell quickly but receive market value. The auction method of marketing is extremely important to establish market price on unique or large properties with a very small pool of potential buyers. To put it simply, a real estate auction establishes true market value of a specific property in a specific marketplace on a specific day.

The benefits of real estate auction greatly outweigh the mainstream listing method in many cases.

Put the Markets Focus on YOUR Property – An auction showcases your property to the marketplace, providing maximum visibility to the target market. Potential buyers must decide on your property first as it is date certain and will not be on the market past the auction date. In a conventional sale environment, your property will just be one of many (currently over 20,000 on our local system) that are minimally advertised in the Multiple Listing Service (MLS). At Alliance we belong to four of the major MLS systems in Texas. We place your auction on each system to notify all real estate professionals that your property will be sold at auction and invite them to register their buyers.

Lightening Fast Market Price –  Real estate auctions offer a marketing timeline for a residential property of 30 days, a large ranch takes 60 to 90 days. Mainstream listing methods typically take months for single family homes and years for large ranches. Real estate auctions compress the marketing timeline and notify all potential buyers that auction day is the day to buy.

“Real Estate Auctions take the control away from the buyer and gives it back to the seller”

The Sky is The Limit –  An auction does not have a ceiling when it comes to price. I doubt any auctioneer in World History has ever said “I’m stopping the bidding, it’s too high.” Auctions allow the market to speak for itself, that’s why world record prices are established at auction not by seller pricing. Conventional listing methods allow the highest possible price to be capped by the seller´s asking price.

Contingencies? We Don’t Need No Stinkin’ Contingencies – Properties offered at auction are sold “as-is”. This means the high bidder cannot back-out of the auction purchase contract without risking their escrow money because of inspections or lack of financing. Experts have estimated conventional sales have a fallout rate as high as 50% because of contingencies. This wears on the seller’s emotions and lengthens the time it will take to sell their property even more.

No Negotiation Zone – The auction method of marketing real estate pits buyer against buyer. This allows the seller to sit back and enjoy the escalation of price since the terms and conditions of the sale were established by the seller prior to the auction. Conventional sales processes pit the buyer and seller against each other causing an anxiety-ridden back and forth, sometimes for days or weeks. Many times, this results in strained relations between the buyer and seller even after negotiations have been settled.

True Market Value, NOW –  Markets ebb and flow faster and more often than ever before in World History. Real estate values can drop dramatically over the span of a 6 or 12 month listing agreement. When you are ready to sell, real estate auctions provide the catalyst to determine the true market value of your property within 60-90 days. All too often the conventional listing process starts out with overpricing a property immediately killing the interest of potential and serious buyers. At an auction, the fair market value of a property is established and goes up from there.

Timing, It’s Everything –  Real estate auctions allow the seller to control the marketing process on their chosen timeline. Conventional sales methods guarantee that sellers will play the waiting game. Sellers will wait on buyers to show interest, wait on them to come see your property, wait on them to make an offer, wait on them to accept your counter offer and wait on the option period to expire. But with an auction you have more control. Auctions are the fastest way to seriously move real estate because much of the waiting is simply eliminated.

Offers, Let’s Get a Bushel Basket of ‘em – In a conventional listing you rarely get multiple offers. If you do it is likely a good sign that you are under-priced. Typically, you can expect a painstaking process of waiting for an acceptable offer from a qualified buyer. Industry experts predict the average listing gets nearly three offers before an acceptable offer is made, but those offers are not at the same time. With an auction, you will get many offers presented on auction day until the highest and best offer is determined by the auctioneer. That’s the only one you wanted when you decided to sell.

Don´t waste time on often ineffective conventional listing process. Selling real estate by auction is the new way to get it done.

Not All Auctioneers Are Created Equal…

Choose Yours Wisely.

This past fall I attended an area estate auction. This auction was held by a firm that does a good number of auctions, but I had never had the opportunity to attend one of their auctions. Upon arriving, I registered for my buyer number and began to view the items for sale. This auction included some nice antiques, tools, toys, collectibles and small equipment.

At the time I was in the process of refurbishing an older Chevrolet C3500. This auction had a clean set of air ride truck seats. I knew the odds were slim that they would actually fit but decided to wait and bid on these truck seats. While suffering through the lack of organization at a non-cataloged auction and watching staff and bidders publicly collude with one another to keep prices low my time to bid was nearing.

truck seats in auctionThe auctioneer stated “Choice and Privilege” as he came to my dream seats. I heard it but I didn’t believe he meant to say it. These are easily $500 seats if you were to buy them new. The auctioneer asks for $25 and I flagged in. Of the 7-10 bidders left, I was the only interested party and the auctioneer said the magic word “SOLD”! I was a bit dumbfounded when he asked “Do you want them both?” Seriously? Who wants just one? I reluctantly conceded that he said “Choice & Privilege” and accepted my new found bounty, the pinnacle of pick-up seats for a grand total of $50.00

As I suspected, the dream seats did not fit. No problem, I’m an Auctioneer and will simply sell them at on of our auctions. This presented an opportunity to test our marketing against a firm that is more “old school” than Alliance. I placed the seats in one of our online only auctions. I sold them as a pair, the buyer got them both for one money, as it should be.

Effective Marketing is in our Secret Sauce…

The pair of burgundy air ride goddesses brought a total $555.50!! Ten times what I paid for them! (You can see the results by clicking here) The key is marketing to the right buyer, targeting the buyers who are going to buy the type of property offered in a specific auction.

Alliance creates a unique and specific marketing plan for each auction we conduct. We take a rifle approach, zeroing in on the most likely buyers for the specific property. Shotgun approach of newspaper ads and flyers do not work like they did just 10 to 15 years ago.

When you need to sell, call the proven marketers at Alliance and you too can benefit from getting 10 times what the other firm will get you.

Alliance Team Comes Through for Erath County Taxpayers

Auctioneers Swap Retired Equipment for Cash. Taxpayers win.

Alliance Auctioneers hosted a heavy equipment and vehicle auction this past Saturday. Erath County Commissioners consigned retired and surplus equipment that was sold to the highest bidder. A few notable items include: a 2000 CAT 345BL Excavator for $49,000, a CAT 953C Track Loader for $39,000, a 2014 CAT 272D Skid Steer for $34,100 and a 1992 HUMVEE brought $16,500. We would like to thank the 311 registered bidders from 12 states and three countries that participated in the auction and Erath County for allowing us to work for them.

The Alliance team builds redundancies and what-ifs into all major components of our auctions. It is never fun to actually have an occasion to engage those plans. While our mobile office trailer generator had recently been serviced and had run like a top Wednesday – Friday it let us know on Saturday morning that it really wanted to stay in bed. Somehow, something had drained the battery overnight. No big deal, a quick boost off with a pick-up and we were off and running – so we thought. The battery was so weak that when certain printers would get ready to print it would kill the generator. Again, no problem we called in a back-up generator and were up and running with full functionality right before auction time.

Once the auction started we realized that our cell service providers signal had gone from four bars all week to one bar and slow if any data service at the location. Once again, we enacted our back-up plan and hard wired into the neighboring business’ internet and relayed the bid information from the computer to the sound truck.

Murphy’s Law…

It seemed everything that could go wrong mechanically did. However, our team functioned with a high degree of professionalism and a “Get it done attitude”. This attitude and teamwork allowed us to achieve much better than average prices for the equipment on hand.

Thanks again for all who participated and thanks to a great Alliance Team effort! On to the next auction…

 

heavy equipment and vehicle auctionThere was some great news. Along with our friends from Lone Star Ag Credit we were able to raise nearly $1,000 for Backpack Buddies. Backpack Buddies sends meals home with school children over the weekend that might not have a meal otherwise. Alliance is proud to support our community and the many deserving charity and benefit events that make our city a great place to live.

Great job!

Proud to be a part of a unique profession.

Today Ashley & I did something we might not have ever had the opportunity to do before. We spent all day at an auction that neither of us were working! As the Choices Life Resource Center building gets closer to completion it seemed a good idea to think about purchasing the office desks, chairs, file cabinets and such for the new digs. Ashley started the process weeks ago. She discussed this upcoming auction with the Choices board of directors. After receiving a retail quote of over $20,000 the fine supporters of this ministry can rest assured that their gifts are managed well. This new center will be outfitted with very nice, quality, used furniture that looks new but cost less than half of retail. Auctioneers are the original recyclers, the original environmentalists.

Ashley & I arrived at 9:45AM and stayed until 5:15PM. Over 1,000 lots were sold and put back to use. Kudos to James Lagesse of Lagesse Auctions, LLC for keeping the auction moving and doing a top notch, professional job. If you ever find yourself in the market for quality office furniture, reach out to James at www.LagesseAuctions.com in Fort Worth. James and his staff have an auction every three weeks. I am proud to say that Alliance Auctioneers home office has top end furniture that was acquired from Lagesse Auctions. Great job James and crew!