Cat Auction Services’ Twin Cities Success

Cat Auction Services sold more than $3.4 million of heavy equipment during an unreserved public auction held at the Ziegler Cat dealership in Columbus, Minn. Despite a cold wintry day, there were over 165 bidders registered onsite and 340 bidders registered online for the auction. These bidders were from 36 states and eight countries and competed for 133 lots. The successful Columbus-Twin Cities auction concluded an impressive auction season for 2010.

“We were very pleased with the results of the Twin Cities Auction,” said Cat Auction Services President Rick Albin. “The Ziegler Cat site was the perfect venue to showcase customer inventory and the indoor facility was perfect for a large crowd. The technology worked perfectly and although this auction wasn’t our biggest in terms of number of lots or dollar amount sold, we continued our trend of attracting active, serious buyers. As with our other auctions, buyer confidence was extremely high, which led to exceptionally solid prices.”

Albin attributes this high level of buyer confidence to the TA1-level inspection reports on the equipment, as well as the exclusive Caterpillar products and services available to buyers. “The fact of the matter is that our buyers have access to an impressive number of tools — from the most detailed inspection reports in the industry, to extended Equipment Protection Plans, part options, financing and insurance — the combination of which make them very comfortable with the value they’re receiving. Quite simply, we’ve given them the tools to make highly informed decisions.”

Once again, the unique auction-theater setup and innovative Leaderboard display drew rave reviews from on-site participants, while nearly two-thirds of the total bidders participated remotely via the company’s improved online bidding tool. Albin noted the importance of continuing to achieve this balance of on-site and online participation as the company prepares for upcoming 2011 auctions. Nearly 50 percent of the winning bids came from online bidders. For the year, 31.5 percent of business revenue is generated online.

“We’ve built strong momentum, and are committed to continuing that growth with high-caliber auctions that provide great value to our buyers and sellers, giving them an auction experience unlike any other,” Albin continued. “Our inspection reports and warranty options quite simply have no equal. And the wide range of exclusive Caterpillar services we provide give our buyers more options, more flexibility and more confidence than anyone else can provide.” Albin noted that more than 30 pieces of Caterpillar equipment qualified for an extended Equipment Protection Plan.”

Auction results are available to all registered bidders on www.catauctions.com. Cat Auctions will begin the 2011 year with inaugural in Los Angeles on Feb. 8th at the Pomona Fairplex and Las Vegas on Feb. 11th. Thirteen auctions are tentatively scheduled in 2011 with more to follow as our dealer partners, consignors, brokers and customers expand nationwide and globally.