Yoder & Frey hosted two successful off-site retirement sales in Ohio and California featuring diverse equipment lots, attracting a global audience with strong bidding activity and high prices achieved. Next sale in Florida on Sept. 25. Visit yoderandfrey.com for more info.
Photo courtesy of Yoder & Frey
On July 26, Yoder & Frey conducted an off-site retirement dispersal sale for the contracting and excavating specialist C.I.R. Inc. in Ohio.
Two sales in one week, each on opposite sides of the United States. Both were off-site dispersal sales, and that is where the similarities between the two auctions end.
On July 26, Yoder & Frey conducted an off-site retirement dispersal sale for the contracting and excavating specialist C.I.R. Inc. in Ohio, followed by a dispersal sale on Aug. 1 at Golden Gate Fields, the Pacific-side racetrack in California that has been an institution of flat racing and bloodstock for over 120 years. This demonstrates the diversity that Yoder & Frey possesses when it comes to appraising, valuing and implementing the disposal of used construction and agricultural machinery.
Ohio — C.I.R. Inc.
The recent off-site retirement dispersal sale conducted by Yoder & Frey on behalf of C.I.R. Inc. in Ohio on July 26 was a resounding success, marking the culmination of 56 years in operation for this retiring family-run contracting business.
Held on-site at the headquarters of C.I.R. Inc., the sale drew a large crowd from an international audience. However, it was buyers from the United States who stole the show, purchasing all but one of the 607 lots for sale.
The lots that went under the hammer included excavators, mulchers, pumps, trucks, and smaller tools and ancillary items that one would expect from a company like C.I.R. after nearly 60 years in business.
A healthy hammer total close to $2 million was achieved when the sale concluded, with a large proportion of bidders buying in person on the day, was reflected in the floor total of $1.3 million. The remainder of the bidding was online, with more than 1,000 registered bidder accounts received prior to the sale.
Photo courtesy of Yoder & Frey.
New first-time registrations of prospective buyers, bidding with Yoder & Frey for the first time, constituted 60 percent of the total registered bidding audience. This unprecedented first-time interest was mainly due to the significant local interest in the sale from the surrounding communities of Ohio.
Bidders from 35 countries registered interest in this sale. Successful buyers came from two countries: the United States and Honduras. However, overall bidders came from a truly international audience, including the United States, United Kingdom, South America, Canada, North Africa, central and eastern Europe, and the Caribbean. Bidding activity in the United States was strong in Wisconsin, Michigan, Illinois, Ohio and the entire eastern seaboard from New York down to Florida, indicating significant local interest.
"This was a very successful sale for C.I.R. Inc. and for Yoder & Frey, with the results speaking for themselves," said Mike Thurston, senior vice president, Yoder & Frey, USA. "Hosting an off-site sale of this nature, where we take the whole auction experience to the client, market the sale, and then execute the auction, is something Yoder & Frey excels at.
"Pre-COVID, Yoder & Frey conducted many off-site sales of this nature, and we are pleased to say we are bouncing back to our previous levels and have more off-site sales planned before the end of the year, working with clients at their facilities."
Prices at this sale were extremely strong. One notable example is a 2005 Peterbilt tractor unit which sold for $119 thousand. A very good crowd attended on the day to see what was available from this well-known, family-owned business in the local area, with many looking to buy.
"The consignment of goods for sale was extremely well-maintained and in good condition, which attracted many bidders waving their numbers to gain the attention of the auctioneers," said Thurston. "The sale was upbeat, the client was very happy with the prices achieved, and successful buyers were pleased with the quality of the machines and the prices paid. That is what we strive for at each Yoder & Frey sale."
Golden Gate Fields
At Golden Gate Fields, nearly 600 lots of specialist equipment used in caring for the artificial Tapeta racing surface, the infrastructure at the racetrack, and the workshops and maintenance equipment, went under the auctioneer's hammer, with a total sale price of $1.2 million achieved with an online total of $670,000.
Almost 600 approved accounts were registered to bid at this auction, with first-time registered approved bidders totalling more than 60 percent of the bidding audience and dealing with Yoder & Frey for the first time.
Photo courtesy of Yoder & Frey.
"Golden Gate Fields was without a doubt one of the most unique sales for Yoder & Frey in terms of the location we were selling in, being this wonderful oval track that has been the center of racing for over 120 years, and the inventory that we offered to the bidding public," said Thurston. "This was a new type of client for Yoder & Frey, and as a result, we were introduced to a new buyer base. There was a good, eclectic cross-section of lots on offer, and with Yoder & Frey working closely with Pacific Racing, the management company that had been running Golden Gate Fields, we created a very exciting and intriguing sale. We attracted a good number of registered bidders on the day, and the prices achieved pleased the customer, presenting us with more opportunities on the West Coast."
Due to Yoder & Frey's international reach through its association with its sister company Euro Auctions — Europe's largest privately-owned auction house and operating auctioneer — bidders from 32 countries registered to bid for this sale, which was quite exceptional considering this was such a specialized auction. The participating countries included the United States, United Kingdom, Mexico, Canada, Pakistan, Saudi Arabia, UAE, Cyprus, Romania and Spain. Bidders by state in the United States included the western seaboard, Texas, and in the east, the Ohio and Great Lakes area.
"We plan on three more ‘off site' sales this year in the same format and aim to establish Yoder & Frey as the go-to for such machinery auctions," said Thurston. "Our ability to pull together an international buying audience for a sale like this and create the necessary infrastructure to run a sale away from our permanent sites is key.
"Euro Auctions, our sister brand in Europe, the Middle East and Australia, has an exceptional reputation for hosting and delivering these types of disposal sales. We aim to mirror their achievements. Their marketing and global reach at this sale attracted registered bidders from around the world, enabling us to achieve the excellent results presented by this auction."
Yoder & Frey's next off-site sale will be the Raynor & Shine, sale in Florida on Sept. 25.
For more information, visit yoderandfrey.com and euroauctions.com.
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