Des Moines Cat Auction Exceeds Projections
Going once, going twice, sold! Cat Auction Services sold more than $9 million of heavy equipment during an unreserved public auction held in Des Moines on June 17. Bidders from 49 states and 14 countries registered to participate onsite and online at www.catauctions.com to compete for more than 350 lots consigned by more than two dozen consignors.
Cat Auction Services president Rick Albin said, “It was great to be back in Des Moines. Our first auction was held here a year-and-a-half ago and we’ve developed some very strong, positive relationships with both buyers and sellers in the region. The results of our recent auction here bear that out. When you combine the standing-room-only local crowd with excellent online bidding participation, it creates an excitement that makes for an active, high-energy auction.
“The dollar volume sold again exceeded our pre-auction projections, which is yet another testament to the quality of the consigned equipment and the trust buyers place in our detailed inspection reports. Informed buyers are always willing to make an investment in equipment that they believe is a fair value. We give our buyers the information they need with our inspection reports, and offer extended Equipment Protection Plans and parts options — all backed by the Cat family. It makes it easy for bidders to have confidence in their purchases.”
The auction featured a wide variety of equipment, from loaders, excavators and motor graders to ag tractors, trucks and trailers. Of particular interest were several Cat VHP motor graders that included the innovative Trimble GPS system. “We had a lot of really high-end equipment that brought a good price for the consigner, but also had the buyer hauling it home happy. That’s the kind of win-win situation that we built our business model on,” Albin said.
Several items, located at another site, were sold virtually via Cat Auction Services unique Leaderboard display, attracting bids from both on-site and online bidders. Albin noted that a balance of on-site and online participation generates a synergy that can’t be duplicated by an online only auction. “Our Leaderboard gives us the ability to not only provide crucial information to our on-site audience in a high-impact visual format — information about equipment performance and options — but also to share with them equipment not on site. It’s all part of our goal of giving our customers an auction experience unlike any other.”
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.
