Cat Auction Services Enters Ag Market with Successful Omaha Auction

There are several industries that enjoy a bad economy — parts and services, education, accounting, repossessions and vice products (to name a few of our favorites). These are anti-cycle businesses. Auctions are also an anti-cycle business and big companies like Cat Auction Services have been doing well over the last year plus.

In fact, Cat Auction Services sold more than US$6 million of agricultural and heavy construction equipment during an unreserved public auction held in Omaha, Nebraska on Thursday, July 29. Bidders from 39 states and 10 countries registered to participate on- site and online at www.catauctions.com to compete for nearly 300 lots consigned by more than two dozen consignors.

The company’s next auction — featuring a complete dispersal of heavy construction equipment from TARCO Inc. — will be in Denver, Colo., on September 30, 2010.

“This was really our first auction with such a large quantity of Ag equipment, and it couldn’t have gone any better,” says Cat Auction Services president Rick Albin. “The turnout was fantastic. There were approximately 350 bidders onsite, and our online participation continues to be exceptionally strong. The enthusiasm of the participants only reinforces to us that our buyer-be-informed approach is resonating strongly with those in the ag and construction equipment industries.

“We had stong onsite registration on the morning of the auction, but we also had registered bidders from as far away as Australia and Saudia Arabia,” said CFO and general manager Gary Trettel. “Our unique Leaderboard gives us the ability to not only provide crucial information to our onsite audience in a high-impact visual format — information about equipment performance and options — but also to share that information with our global audience. It’s all part of our goal of giving our customers an auction experience unlike any other.”

The auction equipment list, split evenly between Ag and heavy constuction equipment, featured a wide variety of items, from combines, headers and Ag tractors to loaders, excavators, motor graders and truck tractors. Manufacturers represented included John Deere, Challenger, New Holland, Case IH, Caterpillar, Kenworth and Mack.

Cat Auction Services entered the heavy equipment auction arena in late 2008 and has been active across the country. By conducting auctions that provide value to both the buyers and sellers, Cat Auction Services complements and enhances the relationship between Cat dealers and their customers.

Cat Auction Services was formed through a unique partnership of Cat dealers with the endorsement of Caterpillar Inc. The addition of a proprietary auction arm to the portfolio of services available to Cat customers and others in the heavy equipment industry builds upon the company’s existing customer loyalty. More information about the company can be found at www.catauctions.com.