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Section 179 passes US Senate

Wed., Dec. 17, 2014 - 8 am | Aaron Traffas, CAI, ATS, CES

Last night, the US Senate passed H.R. 5771, which passed the US House of Representatives earlier this month. This legislation includes a retroactive extension for calendar year 2014 of Section 179, which will have significant tax implications for businesses making equipment purchases before the end of the year.

Purple Wave has seven auctions left this December, and making equipment purchases from these upcoming auctions could be a great way to capitalize on some of the benefits for individuals and businesses included in this legislation.

Learn more at http://www.section179.org/ or consult your tax adviser.

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Dave Sommers, lender relations

Thu., Dec. 11, 2014 - 3 pm | Aaron Traffas, CAI, ATS, CES

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Hello, this is Aaron Traffas with Purple Wave. In the course of selling high value assets and equipment packages, Purple Wave works very closely with lenders, sometimes working directly for a bank and often selling equipment owned at least in part by a lending institution of some kind. Today, I’m speaking with Dave Sommers, Purple Wave’s point man for lender relations. Good afternoon, Dave, and thanks for joining me.

Good afternoon, Aaron.

Tell me about your role within Purple Wave. What are your responsibilities?

110826_Sommers_Dave_webMy title is lender relations, which means, obviously, I work with lenders, and mostly in support of mutual customers.

What are the primary services Purple Wave offers to lending institutions?

We bring farm machinery, construction equipment and rolling stock to auction. Most lender related sales are for good standing, mutual customers for which we gain consent and payout guidance. We also do quite a bit of lender referred work. The hope is we’re creating liquidity for troubled credits before an asset or assets become bank owned or lender owned. And, of course, we also conduct lender owned sales. There are byproducts of these sales and other sales where we’re interacting with lenders on a daily basis. We may be gaining consent, payout guidance for one of the sellers I mentioned above. We could be contacting lenders as references when vetting bidders, mailing lenders flyers for upcoming sales that they can post for their customers – and it goes both ways. We’re also very appreciative that we hear often from bidders and sellers that they’ve been referred by their lenders.

You mentioned a couple of times, in the last two questions, the term mutual customers. Tell me specifically what you mean by that and why that’s important.

I look at this as Purple Wave and the lending institution as being vendors of a customers that we’re both working with, and we can keep everybody aware of what’s going on, have good communication and – communication makes it a beautiful world, in that it keeps everybody appraised of the situation and in a better place than they would be, were it not.

You’ve worked closely with bankers who have dealt in the past with other auction firms. What are some advantages Purple Wave offers them compared to the firms that they’ve used in the past?

The first thing, and we’re thanked for this often, is saving carrying and transportation fees, because the assets don’t have to be moved in our sale, and we can do timely sales, so an asset sitting there not making money for anyone is – that’s not a good thing. We’re thanked for that, but I’ve tracked this through the years in notes. Every time I think one is pulling away, it comes back to a three way tie. Transaction ease, marketing reach and recovery price, those are the three things that we’re told often, “That’s why we keep coming back to you guys.”

Sometimes sellers unfamiliar with the auction method might consider it to be a last resort, sometimes feeling that they’ve failed if they end up having to sell something at auction. Do you see this sentiment in the banking community?

That’s changed through the years. In the early days I had run into that, some. What’s happened is a lot of lenders have witnessed their best customers using Purple Wave, and that in itself is proof that we’re a first choice in marketing assets. They now realize they don’t have to sacrifice speed of sale for market value recovery.

We don’t allow reserves of any kind on the assets we sell. I’m sure this requirement is met with skepticism and even some resistance at times. Tell me why it’s in the lenders’ best interests to sell in this way, and what are some ways we can help limit their risk?

Well, marketing reach and, best of all, a proven track record of recovery prices has really calmed these concerns through the years. The Internet changed everything. We run a real and transparent auction, as commercially reasonable as it can be. You’re inviting and getting the attention of the whole world, and they know it’s a real auction and that the assets are really going to sell to the high bid and you’re going to find market value.

Tell me what you mean when you use the phrase real auction.

It could be no reserve, absolute – these are all terms that are synonyms for one another. Real auction – it’s “here is this asset, whole world.” It is going to sell on this date to the high bid. You can follow the bidder numbers on there and know that these are real people that are really bidding on that from where they’re coming from. It is really going to sell to the high bid regardless of price, and if you’re very familiar with Purple Wave, you know that that’s a beautiful thing and that’s why our recovery prices are well thought of. In a reserve scenario, which is just a dressed-up private treaty scenario, that’s where you get into trouble.

Purple Wave has been endorsed by several banking associations. How have these endorsements benefited the members of those associations?

Thanks for asking about this. It was a lot of hard work, and we’re proud to be endorsed by the Kansas, Missouri and Oklahoma bankers associations. We’re also associate members of many other states’ banking organizations. As to benefits, I’ve had many lenders thank me for some useful tools that, at the onset I didn’t realize they were going to be as useful as they are, but they found them on purplewave.com. I hear repeatedly that they often research and print free comparables for loan files – recently sold assets that are similar to what they may be lending money on. They can drop a comp in a file. Many review upcoming auctions for customers – their customers – that are specifically seeking certain assets and they’ll watch for those and make them aware. They also review current ag, construction and fleet markets to see how these sectors are trending – useful tools.

What are some surprises that lenders might experience when they use our services for the first time?

The distance the bids come from is probably the most surprising for new lenders – new lender customers, I should say. I was recently teasing an Oklahoma banker. We were selling some assets for them and we had some bids come in from the country of Turkey. I told him that I didn’t have an Oklahoman to Turkish dictionary at the ready, so he was on his own if it came down to a call. I did receive a seller survey just last week – I have laying on my desk. It’s in print. We sent out a survey to a first time banker seller. This is how he responded when asked the question, “Please describe your Purple Wave experience.” I quote, “Excellent! For a bank wishing to liquidate equipment with the largest audience possible, this is the best choice, period.”

What would you tell a banker who is curious about the services that we offer? If you had to say just one or two quick things to someone who is curious about our services and the way that we can work with lenders – what would you say to somebody?

I would invite them to get somewhat familiar with us. If they need us immediately, that’s a totally different conversation; but if they’re just curious, I would invite them to purplewave.com and just search around. Look through past auctions, see what recoveries have been, see what’s coming up, become very familiar with the types of assets that we sell, understand that it is real auction, as we covered earlier, and tell them that we’re here to help when needed. I very much look at this as a partnership, and we’re only as good as our last auction, so we’re going to do our best time every time out.

Dave, if I’m a lender and I’ve got some assets on the books that I’d rather have liquidated, what do I do? Do I call my local territory manager? Do I pick up the phone and call you? What’s the way that I get a hold of somebody at Purple Wave?

If you’re a phone call guy, which I am, give me a call – 785.313.2094. You’re going to come to my direct mobile. We can vet out the situation very quickly. I can probably tell you very quickly whether we’re going to be able to help with this situation or not. Then I’ll reach out to the territory manager. If you want him to call you, we’ll do it that way. If you want it vice versa, we’ll do it the other way. If you’re an email guy, just email me sommers@purplewave.com.

Well, Dave, tell me about yourself. What brought you to Purple Wave and how did you find yourself working with lenders?

I came on Purple Wave in October 2007 and was in the real estate side of Purple Wave for a couple of years. Then we decided to – the whole business changed. I think it was about June of 2009 when we went completely Internet only and changed to equipment and vehicles only. Aaron, the founder of the company, knew that I had been married to a banker for a quarter century and figured I’d have picked up something through osmosis, so I got asked to visit with lenders. It’s been a pleasure and a blessing.

What are some things that you like to do in your spare time?

Well, I’m a husband and a father. My daughter graduates from college this coming weekend. I’m very proud of that. I love to bow hunt trophy white tails. I enjoy playing guitar and singing in the church choir. That’s about it.

I’ve been speaking with Purple Wave Dave Sommers, who oversees the relationships Purple Wave enjoys with lending institutions. Thanks again, Dave, for joining me today.

Thank you, Aaron.

Find Dave on the web at purplewave.com/davesommers. Contact him at dave.sommers@purplewave.com or call 785.313.2094.

Subscribe to Purple Wave’s Auction Podcast on iTunes. Search iTunes for “Purple Wave” or use the link on the podcast page on our website at purplewave.com/podcast.

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Post by A

Kent Montgomery territory manager for northern Missouri

Mon., Nov. 24, 2014 - 2 pm | Aaron Traffas, CAI, ATS, CES

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Hello this is Aaron Traffas with Purple Wave. Today, I’m speaking with Kent Montgomery, Purple Wave’s territory manager for central and northern Missouri. Good afternoon, Kent, and thanks for joining me.

Hey, thanks for having me. I appreciate it.

Kent, start by telling me a little bit about yourself. Where did you grow up?

Kent Montgomery

Kent Montgomery

Well, I grew up in northeast Missouri in Scotland County. I actually grew up on the farm in a little bitty town, or really close to a little bitty town, called Arbela, Mo.

I understand that your father was an auctioneer. What kind of things did he sell and what was it like growing up in an auction family?

Well, auctions have changed a whole bunch since then. I mean, there was no Internet. There were no computers, hardly. Every Saturday was an auction day. The times that I did get to go, it was always traveling. From livestock auctions to household good auctions – those kinds of things. The planning and organizing was a whole lot different because people – if they wanted to buy stuff – had to follow those things and they had to travel. Weather was a big factor. Time of year was a big factor. It was much more different than it is today.

Tell me about your education. I understand you have a bachelor’s in biology .

Yes. I actually graduated from Central Missouri State University – that’s in Warrensburg, Mo. – with a degree to be a game warden – was my biology degree. It was kind of a combination between biology and criminal justice. It was in Warrensburg, Mo., so, yes.

Your business background has been predominantly in the rental equipment industry. How did a degree in biology and criminal justice segue into rental equipment?

Well, it was kind of a unique situation. I actually started in the rental business while I was in college, working part time for a company called AAA Rental, which was based in Wichita, Kan., at the time. By the time I had graduated, some doors had opened for me there and I just never ended up leaving. From there, it was purchased by a corporation called RSC Equipment Rental where I stayed until just a few years ago. I was there 21 years total, in the rental equipment industry. It was a very good, long run. My background and education from biology really didn’t have a whole lot to do with that, but I think things happen for a reason. It all worked out great and it was a great opportunity for me.

What kind of responsibilities did you have within the RSC organization?

Well, being a college student, I started out at the very bottom and worked my way up. I moved quite a few times. I worked in Warrensburg. I worked in Kansas City and the Lee’s Summit area. I transferred to St. Joe and Columbia. Through my career with them I held a variety of different roles. The last one I held was a district manager. I covered about a third of the state of Missouri. I had many different roles and leadership responsibilities from sales, sales management, operations, profit and loss – you name it. I had pretty much everything to do with all of our stores throughout mid-Missouri. I had seven different locations and about twelve different sales people that I was responsible for when it ended.

Well, how did you end up here with Purple Wave?

Well, an organization by the name of United Rentals actually purchased RSC Equipment Rental. I was in middle management at the time and there were a lot of territories that overlapped. During their downsizing, I was removed from the organization. Fortunately, I had a relationship with Purple Wave, for quite a few years, which sold equipment with Purple Wave during my tenure at RSC. It kind of fit my background and what I was used to doing. I had an opportunity where an individual left the company for you guys and it was right in my backyard, so all the stars aligned so it worked out great.

Tell me about the area that you now cover as our territory manager.

Kent's territory

Kent’s territory

I cover, basically – if you’re looking at Missouri – I cover about the northern half. In addition to that, Jefferson City, part of the lake area and – I do not cover some of the major metropolitan areas under that area – Kansas City, St. Louis and St. Joe. Everything kind of north of there is pretty much mine; I think there’s about quite a few counties throughout that area, but the major metropolitan area of Columbia and Jefferson City and everything north of there.

You’ve been on the ground for us there since July. What kind of response to Purple Wave have you seen so far?

I’ve seen everything from they know everything about us, have done business with us to not having a clue who we are and what we do. I feel that Purple Wave is a growing company. This is kind of a growing area. I feel that that’s kind of my responsibility – to get out there and help market and promote the company and kind of what we do – our services and what we have to offer. I think most of the covered area and most of the key customers that we have have at least seen some kind of marketing and documentation from our company, but there’s still a lot of opportunity out there and a lot of people that have not heard of Purple Wave.

Tell me about your role and responsibilities. What’s an average day for you?

Well, I can’t honestly say that there’s been an average day. What I try to do is get out and physically see as many people and as many current customers as possible and visit, you know, different areas strategically – obviously some of the bigger areas more often and more frequently. Some days there’s a lot of travel. Some days there’s a lot of phone calls and, you know, what we do – uploading pictures, documents, sales agreements – that kind of thing. There’s other days – I’ve been fortunate enough to go to go to a couple customer events and conventions through the organization, which has been very beneficial in meeting new customers and prospecting new customers. I can’t honestly say there’s one average day, but it’s getting out there, meeting customers, communicating with the office, and helping to market our sales and our customers and what we have to offer.

Are you enjoying it, Kent?

Yeah, it’s a lot of fun. You know, I spent very, very many years in a corporate environment and setting managing people. Being out here on my own, managing myself, is – I wouldn’t necessarily say it’s easy all the time, but I feel like I’m pretty self-sufficient and can get a lot of things done on my own.

Tell me about some of your personal interests. What do you like to do in your spare time?

Well, I have a wife, Kiley, and two kids, Marshall and Mackenzie. They keep me very busy with different projects and things that they like to do, from sports to school events. And then I also like to play a lot of golf, usually, in the summertime or when the weather’s warm, in a men’s league or some type of golfing event. I’m trying to do a little bit of hunting on the fall season. I don’t get to do it as much as I’d like to, but those types of things. I live down by the lake, so boating in the summertime is also a good time with the family. Other than that, kicking back and taking it easy.

I’ve been speaking with Kent Montgomery, Purple Wave’s territory manager for the better part of central and northern Missouri. Thanks again, Kent, for joining me today.

Hey, I appreciate your time.

Find Kent on the web at purplewave.com/kentmontgomery. Contact him at kent.montgomery@purplewave.com or call 573.745.0707.

Subscribe to Purple Wave’s Auction Podcast on iTunes. Search iTunes for “Purple Wave” or use the link on the podcast page on our website at purplewave.com/podcast.

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Post by A

The advantages of immediate bidding

Tue., Nov. 18, 2014 - 2 pm | Aaron Traffas, CAI, ATS, CES

Today I’m going to look at the way Purple Wave adds items to our auction listings. We add items to events in batches and when the items are posted, you can bid on them. It’s quite simple and, while it’s a practice that’s not exclusive to us, we believe it’s a crucial component to conducting a successful auction for both bidders and sellers.

Bidders
If you’ve ever browsed other auction sites, odds are that you’ve come across items that were listed but, for some reason, you couldn’t place a bid. Some auction firms wait until the entire catalog is ready before listing any items on their websites at all; some post items incrementally into their events but wait until everything is ready before allowing any bids.

We know bidders have limited time. We know that when you’re searching for items in upcoming auctions, you want to see all possible results and not just results from complete auction catalogs. We know that when you find an item, you don’t want to remember to come back later once bidding starts. We’ve made it easy to remember upcoming items with our watch list features, but we also want to be sure that you can immediately bid on any item you find.

As soon as we can post an item into an event, we do, even if we still have more items to add to the auction. As soon as it’s posted, you can bid on it.

Sellers
Immediate bidding benefits sellers just as much as bidders. Once our territory managers and auction specialists turn in the pictures and paperwork for your items, our website operations team is tasked to turn those listings around and have them posted to purplewave.com in a matter of days. Your items don’t have to wait weeks to begin being exposed to bids. You don’t have to worry about a prospective bidder not finding your asset because the rest of the items in the auction weren’t yet ready to go.

Some auctioneers claim that delaying the bidding until a few days or weeks before the auction begins to close will create excitement, but we don’t believe it. I know I’ve never been excited to have to wait for anything, and I’m going to guess that most of our bidders appreciate the fact that they don’t have to wait to bid when they find an item on purplewave.com.

When an asset has more time to be exposed to bids, more bidders have an opportunity to participate. By ensuring that there are no artificial restrictions to bidding, we demonstrate respect for our bidders’ time and create a fair market for our sellers.

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October 2 LaForge Construction retirement auction

Fri., Sep. 12, 2014 - 9 pm | Aaron Traffas, CAI, ATS, CES

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Aaron Traffas: Hello and welcome to Purple Wave’s Auction Podcast. My name is Aaron Traffas. We’re conducting a retirement auction for LaForge Construction in Parsons, Kan., that will close on October 2. I going to speak this morning with Kenny LaForge about this retirement auction. Good morning, Mr. LaForge, and thanks for joining me.

Auction flyer

Kenny LaForge: Good morning, thank you.

AT: We spoke in February of last year about the Interstate Electrical Construction auction we conducted for you in March of 2013. At that time, you were liquidating Interstate Electrical and going to focus on LaForge Construction. For anyone who didn’t get to hear our last conversation, tell me about LaForge Construction.

KL: LaForge Construction was started in 1990. It was kind of an off shoot of Interstate Electrical. It was founded more with an emphasis on diversification in southeast Kansas, which is a bit rural. In effort to make a living we decided to couple it up with another company and that got us started. We started real small – just a couple of people on that side and all through the next 24 years it grew. It’s still a small company but we could do a lot of different types of work and that’s what we did.

Why have you now decided to retire?

Well, it’s pretty simple. It’s kind of a long range plan, if I may. We closed the electrical business down in March of 2013. I turned 61 this year. My wife’s retired. It’s just time to do something else. I’ve been plugging along for almost 40 years in this construction business and I really thought that was long enough.

2004 Caterpillar 308C CR mini excavator

2004 Caterpillar 308C CR mini excavator

Tell me about your experience with the Interstate Electrical auction. You must of had a positive experience with Purple Wave for you to select us again to handle your retirement.

It was pretty neat. They did a good job. It’s kind of simple. I looked around initially at which way to go and didn’t have many reservations about Purple Wave but, obviously, the unknown kind of does creep in, but they did a great job top to bottom. We organized fairly well. It went well. They did a good job and when it came to decide how to do this auction it was pretty much a no-brainer for me.

Well let’s talk about the auction. I see, right now as we speak, over 200 items listed already at purplewave.com. Tell me about the different types of equipment that we’re selling in this event and give me some details on a couple of the marquee items.

Well, like I said, we did water and sewer line work – rural water, city water, a lot of sewer work, pump stations – so we had a pretty broad range of equipment and tools. We did a lot of directional drilling. We’ve got three directional drills – one being a rock machine. They’re well maintained. They’ve been barned an awful lot. They’ve been used but they’re in very good shape. Plus there’s lots of tooling that comes with those of all sizes and types, rock and dirt both, so that’s a nice couple of items. We’ve got a wide assortment of backhoes, rubber tire, plus track machines in the mini size up to 320 in the CAT version. We’ve got probably eight or ten trucks – three or four nice one-ton duallys – diesel – that are set up with compressors, welders – toolboxed up real solid – pintle hitches – just good trucks.

Tell me about the condition of the equipment. Has it all been well-maintained?

2008 Ford F350 Super Duty XL service truck

2008 Ford F350 Super Duty XL service truck

Yeah, we’ve done a pretty solid job taking care of things. We sure spent a lot of money on stuff so we must of done something right. They’re used machines, for the most part, but several of them were bought new – some bought used. We used them everyday, and they had to be running, so we took good care of them and the guys took some pride in that. They did a good job keeping things rolling and keeping things running, so that was important to me.

Tell me about the auction location. Where is everything located? Is it all in one place?

Yes, it’s all in our yard in Parsons on South 59 Highway. A lot of the tools and small items – jumping jacks, etc…are in a barn that’s lit – concrete floor on pallets. It can be viewed about anytime. We’ve got a couple open house dates I think you’ll probably mention in a minute, but yeah, it’s all in our yard sitting behind locked gates with security so we’re in good shape and ready to go.

Well the open inspections are scheduled on September 26 and September 29 from 8 to 4 on both days. In the event that that doesn’t work for somebody to come and take a look at the items you’re selling, what’s a good way to get a hold of you to schedule an inspection of some kind?

Just call our office number, 620.421.0420. Ask for Kenny or Bob and one of us will be around to show anybody about anything – run it, roll it, whatever they want to see done with it. We’re not real busy now with things kind of winding down so we’ll be happy to – if someone’s schedule needs to jump in a little quicker than the what the open house dates are that’s fine with us.

For a buyer who has made payment to Purple Wave and has invoice in hand, what’s the process for coming and picking up the purchases and will you have some kind of load out assistance available?

2008 Case 580 Super M Series 3 backhoe

2008 Case 580 Super M Series 3 backhoe

Yes, we will. We’ve got a forklift. We’ll have several items that have different fork mechanisms. We can help load up anybody with about anything we have here. We have a large loader with forks – small forks. That won’t be a problem. We have a loading dock where all the tools are, so if someone comes with a flatbed dump truck, two ton truck – some type, we can take it right into the back of a truck easily and off they go, so that will not be a problem at all.

Do you prefer buyers make contact with you before heading your direction?

It ought to be convenient for both of us probably to make sure they don’t catch us both gone for some reason. It’s not absolutely necessary, but it’s certainly preferred.

What kind of time frame are you looking at for everything to be removed?

I would think within a couple weeks is good. We also have a few things here miscellaneous types that we didn’t sell or couldn’t sell. Up to a couple three weeks we’re going to be okay, but I don’t want to string it out much past late October, which I think that will be pretty good for most folks.

Kenny, what are you looking forward to doing after retirement?

You know, that’s a good question. My wife has retired so we’ll travel like most people – get out of town a little bit. We have some spots we’d like to visit in different parts of the country, so no big agenda yet – quit answering the phone so much and do whatever I want when I want. Nothing large is waiting for me so we’ll see how things go.

Well, Kenny, is there anything else you’d like to say about this auction?

1994 Caterpillar 320L excavator

1994 Caterpillar 320L excavator

No. We’re happy to be here. We’re happy to have Purple Wave. It’s a nice union, so to speak. We’re looking forward to things wrapping up in two to three weeks and unloading things and loading people up and send them on down the road.

I’ve been speaking with Kenny LaForge about his retirement auction for LaForge Construction. Thanks again, Mr. LaForge, for joining me this morning.

Thank you. I appreciate your time.

Bidding for the LaForge Construction retirement auction is open now and will close on Thursday, October 2, beginning at 10 a.m. central. If you have questions about the assets listed, or you’re interested in taking a look at the equipment before placing a bid, attend one of the open inspection periods from 8 to 4 on September 26 or 29. To schedule an inspection outside of those days, call Kenny or Bob at the office at 620.421.0420.

Like all Purple Wave auctions, there are no reserves or minimum bids. Items receiving bids in the last few minutes will be automatically extended to give everyone a fair chance to bid. There’s no advantage to waiting, so view the complete inventory listing – and place your bids now – at purplewave.com.

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Recognized among elite entrepreneurs

Fri., Aug. 22, 2014 - 1 pm | Amy Shaneyfelt

Inc. magazine ranked Purple Wave no. 3803 on Inc.5000, an exclusive ranking of the fastest-growing private companies. The company was honored for achieving 82 percent growth over the last three years. Purple Wave currently employs more than 78 people in ten central states.

Inc. 5000 companies are distinguished for providing jobs and driving the economy forward. Purple Wave is one of 36 Kansas businesses recognized in 2014. CivicPlus was the only other Manhattan, Kan., company recognized. Additional Kansas companies include Freddy’s Frozen Custard, and Sainstore.

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Post by A

August 27 Dave Pirtle retirement

Tue., Aug. 19, 2014 - 6 am | Aaron Traffas, CAI, ATS, CES

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Aaron Traffas: Hello and welcome to Purple Wave’s Auction Podcast. My name is Aaron Traffas. A portion of the August 27 ag equipment auction comprises equipment from Dave Pirtle of Leon, Kan. I’m speaking this morning with Dave about this event. Good morning, Mr. Pirtle, and thanks for joining me.

Dave Pirtle: Good morning.

AT: Tell me about your operation. When did you start farming and what do you produce?

I started in 1987. We raised milo, wheat, soybeans, run cattle and have hay.

This event is billed as your retirement auction. Why have you decided to retire?

1987 John Deere 8820 Titan II combine

1987 John Deere 8820 Titan II combine

Technology has outrun me. My oldest son, I’ve turned all of the farming over to him. I’m up to the age where I decided I’d run cattle and bale hay.

And so he is going to continue with an operation of some kind?

Yes. We did not do no-till up until about six years ago and he has went strictly no-till and all the equipment I have that I’m selling was equipment that we had that we didn’t need for a no-till system.

Well, I’m sure this was a very big decision for you. Why was it that you chose to go with Purple Wave to handle this event?

Well I’d heard good results with Purple Wave and I talked to several people around and of course I knew my area rep.

Right now I’m looking at 15 pieces listed at purplewave.com. You mentioned it was a tillage package and I see some implements there. I see a fertilizer truck and a couple other heavy trucks and a trailer. But if I were interested in the combine and the tractors, what would you tell me about those?

1990 Ford 976 Versatile Designation 6 4WD tractor

1990 Ford 976 Versatile Designation 6 4WD tractor

The combine, I’m just guessing I’ve owned it for at least 12 years. The combine is in good shape. The only thing I don’t know about it, the monitor – the grain loss monitor doesn’t work. It’s just a good used combine that you could take to the field right now. The tractors, the 976 – the hour meter broke at 7700 hours. I can’t guarantee the hours on it. I’m guessing it’s probably got between 8000 or 8100 hours on it. The 895 is the same way. The hour meter doesn’t work on it but these tractors are in good condition. There’s no – very very very very minimal oil leakage, if any, and they’ll fire right up and go to work.

Tell me just a little more if you would about the condition of the equipment and how you took care of it.

All the equipment that I have, and I’m pretty particular – all of it is going to be average to above average. There’s none of it that you can’t just take to the field and use that I know of. We run a good maintenance program on it – hadn’t been used for awhile. It’s all been shedded. It’s been in the barn, other than when I pulled it out for this lineup for the auction.

Well it sounds like if it’s not field ready it’s pretty close.

1981 Versatile 895 4WD tractor

1981 Versatile 895 4WD tractor

I would say other than an oil change – and I elected not to change the oil in them just simply if somebody wants to come and look at them they can pull the dipstick on them. They can check the color of the oil; they can do an oil sample. They can do whatever they want. There’s no issues with them that I know of at all.

I understand that everything is located near Leon, Kan. For someone unfamiliar with the area, where is Leon?

Leon, Kan., is about 35 miles east of Wichita on 400 highway. The equipment is located seven miles south of Leon. You actually get on a road – they call it Chelsey and it makes a curve and it turns into Cole Creek Road. That equipment is exactly seven miles south of Leon on the blacktop road on the east side of the blacktop.

We always recommend that a buyer takes a look at everything before placing any bids. If someone is interested in one of these pieces, what does he or she need to do to make an appointment to come and take a look at something?

All they need to do is give me a call. I’m around – my cattle and my hay operations is all within five or six miles of the farm right here. They can set a time and I can meet them about any time and just show them the equipment. They can take the keys, they can fire it up, they can drive it around, run it around, and check it out – I recommend they do that.

After the auction, once payment has been made to Purple Wave and an invoice has been created, what does a buyer need to do to come and pick up a purchase?

Case 496DH folding disk

Case 496DH folding disk

Just give me a call and I will assist. If it’s some of the pull-type equipment, I have loader tractors with my haying operation. We can pick it up and we can get it loaded for them.

How soon does everything need to be removed?

Well, because that’s where I store all my big round bales of hay, I’d like to have it out of there within 30 days. Now, if it’s something that’s motorized I can pull it over in the grassy area. I really would like to have it out in 30 days or at least a reasonable amount of time.

Well, 30 days is longer than our normal removal period so I think that already sounds pretty reasonable to me. Dave, is there anything else you want to mention about this auction?

Not that I know of, just other than if they want some good equipment, good used equipment that’s going to be reasonably priced, they ought to get in there because it’s hard to come by. I know around here there’s no local auctions around here to go to any more to find this type of equipment.

Auction flyer

I’ve been speaking with Dave Pirtle about his retirement inventory that’s a part of the August 27 ag equipment auction. Thanks again, Dave, for visiting with me this morning.

You’re welcome – have a good day.

Bidding for the ag equipment auction that includes these assets is open now and will close on Wednesday, August 27, beginning at 10 a.m. central. If you have questions about any of the assets listed, or you’d like to schedule an inspection before the auction, contact Dave Pirtle at 316.765.2310.

Like all Purple Wave auctions, there are no reserves or minimum bids. Items receiving bids in the last few minutes will be automatically extended to give everyone a fair chance to bid. There’s no advantage in waiting, so view the complete inventory listing – and place your bids now – at purplewave.com.

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Post by A

September 25 McAlister Aggregates realignment

Thu., Aug. 7, 2014 - 9 pm | Aaron Traffas, CAI, ATS, CES

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Aaron Traffas: Hello and welcome to Purple Wave’s Auction Podcast. My name is Aaron Traffas. We’re selling a large package of construction and aggregate equipment in Iowa for McAlister Parts and Equipment in an auction ending Thursday, September 25. This morning I’m speaking with Mike McAlister about this event. Mike is the president of McAlister Parts and Equipment. Good morning, Mr. McAlister, and thanks for joining me.

Mike McAlister: Good morning to you, Aaron. Thanks for having me.

AT: Mike, tell me about your company. How did you get started and how long have you been in business?

MM: Well we got started approximately 50 years ago when my father got into aggregates and we’ve been doing that ever since. We’ve gone out into other areas – service work, for instance – and we rebuild a lot of heavy equipment for people. We’ve been in aggregates approximately 50 years.

What were some of the different types of projects that you handled?

Finlay 390 hydrascreen 5' x 12' two-deck portable screening plant

Finlay 390 hydrascreen 5′ x 12′ two-deck portable screening plant

Well we handled, obviously, road construction projects – gravel roads for the county, hot mix asphalt or HMA for state and federal jobs. We’ve even used our materials under a lot of these big ethanol plants that have been going up in the area as well as silos and grain storage facilities.

What kind of areas did you serve?

Well, basically the areas in our county and the immediate surrounding counties – once in a while the material would go as far as Omaha or Council Bluffs, for instance our so-called P-rock or porous aggregate materials. For the most part we were fairly localized.

And tell me about that area. I mentioned that you’re in Iowa, but for anyone not familiar with your company, where specifically in Iowa are you located?

We’re in west central Iowa, approximately halfway between Des Moines and Omaha.

This event is billed as a realignment auction, which implies that you’re not going out of business or liquidating everything. What kind of changes are you making to your operation that made you decide to have such an auction?

The changes are dictated, as it were, by the fact that we’re too spread out. We’re a family run business and we have three generations working here. We’re to spread out to do everything well and so we have to choose in which direction we want to go. And we’ve gone in a lot of different directions, as I indicated earlier, one of which is service work.We are, quote unquote, realigning in the direction of service work. We have very good job skills in that regard. Much of the newer equipment out here is computerized. The younger generation is very comfortable with that but all of that equipment, whether computerized or not, requires hands-on abilities, mechanically speaking, and a willingness to get dirty. We have all of that. So we’re going to move in the direction of service work for companies with which we have in the past been competing. My favorite word now-a-days is symbiotic. I want to have a symbiotic relationship with my former competitors in the aggregate business.They’re looking for skilled, mechanical, hands-on people – people who can fabricate wash plants etcetera, we can provide that. I’m looking forward to moving in that direction for that reason.

So after this auction you will no longer be in the aggregates business. You will essentially be supporting others in that industry.

Universal 880 Super G 4300 portable jaw/roll crushing plant

Universal 880 Super G 4300 portable jaw/roll crushing plant

We’ll still be in the aggregate business in one quarry that we have south of our headquarters here in Bayard, Iowa. The larger aspect of our aggregate business will be gone. That’ll be replaced with a new focus on service work for the aggregate industry.

This sounds like it was a very deliberate course change and a big decision for you. Why was it in the end that you chose to go with Purple Wave to handle this auction?

We liked the people that we met. We liked also the fact that Purple Wave has a new approach to auction events and we liked the fact that that they can reach out via the Internet. We liked the fact that they have videos of our equipment running. We’re showing our equipment, as it were, in its work clothes. There are no DuPont overhauls, which everybody who’s buying equipment always holds suspect – and should. But with Purple Wave, potential buyers can get online, they can look at the equipment actually operating – and it is operating right now as we speak. We really liked that because the buyers in this industry are pretty savvy and they want to see the equipment running. Purple Wave can do that for us, not to mention, again, that their access to potential buyers is, I think, unequaled. Finally we went with them, to begin at the end, as it were, or to go back to the beginning of this – we went with them because we liked the people with whom we found ourselves speaking. They’re very honest, open people. There was no blue sky talk; they were very realistic in their assessment of the value of the equipment and I just found them very good in all aspects.

Well, let’s talk about the auction and the inventory. Tell me about some of the different types of equipment you’re selling.

Universal 1800P wash plant

Universal 1800P wash plant

Well we’ll be selling a fully integrated crushing and washing spread. By that I mean we have our Cedar Rapids rock crusher. We have all the conveyor systems – a Finlay screening unit that’s part of that. We also have our wash plant as well as a Trio twin screw coarse material washer and then all of the support equipment – the loaders, dozers, ripper machines, skid steers, and trucks. Again we’re selling a fully integrated and fully operational spread.

As we record this morning, we are about a month and a half away from the auction. I see currently about 50 items listed at purplewave.com. Are there more that will be listed?

I think we have just about all of them. There might be one or two that we forgot about – for instance at the shop here – but that’s about it. People who are looking at the website should be aware there might be one or two added. Basically that’s about it. They’re looking at it all now.

So it’s a pretty low piece count but high quality for every single one of these pieces.

Yes, all of these pieces are runners. They’re all doing their work. Again, they’re working today as we’re having this podcast. Yes, they’re all running.

Has it all been fairly well maintained? Is it all in good condition?

Absolutely. We can’t make a living any other way. My brothers and I, and my sons and my nephews grew up in this industry and we learned very early from our father how not to abuse equipment unless we wanted our father to educate us more strongly. How shall I put it? That’s one way to put it delicately. We’re all very good operators. This equipment isnot abused. This equipment is pulled into the shop every winter and rebuilt. This equipment might be a little bit older than some other equipment out there but it’s all running. We make sure it keeps running. We don’t hesitate on maintenance and we don’t abuse it. There’s no money in abuse we learned that a long time ago.

What would you consider to be a couple of the marquee items in the auction? You mentioned the plants. Can you give us a little detail on a couple of the nicer pieces?

1968 Caterpillar D9G dozer

1968 Caterpillar D9G dozer

Well, there’s the crushing plant, which has been fully maintained. There’s the wash plant, which is, Ibelieve, a 36 inch screw with a triple deck on it – or double or triple deck, rather, I’d have to look at it. There’s the Trio coarse material washer. Those are the three biggest items. We have some very big loaders – the 275 Michigan, the 880 CAT loader, D9 dozers and rippers – It’s all fully integrated so its hard for me to take one single piece of equipment and say, “this is it.” Whatever piece of equipment you’re looking at, it’s a runner and it’s running in it’s work clothes. Everybody can see what it is.

Tell me where everything is located. I see some of these items located at Stuart, Iowa, and some in Bayard, Iowa. Describe those locations, if you would.

Well, Stuart, Iowa, is approximately 25 miles due west, I guess, of Des Moines on Interstate 80 and our quarry is approximately eight miles north of that location on Interstate 80, so we’re eight miles north of I-80. Most of the equipment is there. There are a few stragglers that we’ve brought up to the shop for repair or because we needed it here in this area. Our shop is 55 miles west of Des Moines on Highway 141, so both locations are easily accessible if anybody is trying to get here.

AT: We always recommend that a buyer takes a look at everything before placing any bids. To that end, we’ve scheduled a couple of open inspection periods where anyone can come by and look at the equipment. Those two dates are September 13 and 24 from, I believe – is it 8 a.m. to 3 p.m. on both days?

Yes.

If someone can’t make those inspections and wants to take a look at an item before the auction, what does he or she need to do to make an appointment?

All he needs to do is call our office or call my brother Brian’s cell phone and we will make accommodations. We’re a smaller family run business. We’re easy to get along with and we know that people have conflicting schedules. We will work with them. It’s no problem for us. We understand that.

Well, along the same line, tell me about pickup arrangements. After the auction, once payment has been made to Purple Wave and the buyer has invoice in hand, what does he need to do to come and arrange pickup?

Once again call those numbers that are listed on the Purple Wave website and be at ease if you can’t make it. Obviously we would like everything out of there within a week, but we also know, again, that a lot of people have transportation issues that aren’t working out well for them. Just give us a call and we’ll work with you as best we can, we really will.

What kind of accommodations are you able to make for loading assistance? I understand that with this type of equipment that there are a lot of intricacies involved in figuring out how to transport some of these larger items but if somebody comes up with a trailer to load something, are you able to provide loading assistance of some kind?

2005 Trio twin paddle coarse washer

2005 Trio twin paddle coarse washer

Yes, in fact we’ve been moving this spread around our area for years. We know how to get it onto a trailer or how to get it hooked up. We’ll be down there to help in every way possible. These people will not be coming into our quarry alone and unassisted. We’ll be there to help them.

Great. As with anything, I think, communication probably is key. We don’t want to have somebody just get an invoice and jump in the truck with a trailer and go without talking to you first without making sure that everything can be planned and…

By all means. Communication is the key here and the people who are coming in, they just have to know at the front end we’re here to help them. We’re not going to turn our back on them. We’re going to help them get it loaded and give them all the assistance they need.

Mike, is there anything else you want to say about this auction?

I think it’s going to be a good auction. I think the people who participate in it are going to be happy with what they get. They’re going to be getting very well maintained equipment that has been proven and has a lot more hours and work to do. I think we’re all going to come out of this really well.

I’ve been speaking with Mike McAlister about the McAlister Aggregates realignment auction. Thanks again, Mike, for joining me this morning.

Thank you, Aaron. Have a good one.

Bidding for the McAlister Aggregates realignment auction is open now and will close Thursday, September 25, beginning at 1 p.m. central. If you have questions about any of the assets listed, or you’d like to schedule an inspection before the auction, contact Brian McAlister at brian@mcalisterparts.com or call 641.757.2062.

Like all Purple Wave auctions, there are no reserves or minimum bids. Items receiving bids in the last few minutes will be automatically extended to give everyone a fair chance to bid. There’s no advantage in waiting, so view the complete inventory listing – and place your bids now – at purplewave.com.

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Post by D

Lending and auction – the basics

Thu., May. 29, 2014 - 4 pm | Dave Sommers, AARE, PRI

While visiting with a business owner recently, I learned that he was updating his equipment inventory. As the new equipment was coming in, he realized a need to liquidate some used trucks, tractors and sprayers. He had heard good things about Purple Wave, and said he would like to hire us, but didn’t have a large enough grouping for a complete auction. I was stunned, and a bit embarrassed, to learn that he thought he had to fill an entire auction to sell with us.

The business owner was pleased to learn that most of our customers sell just a few pieces at a time, and now plans to sell with Purple Wave. This conversation reminded me that it’s a good idea to periodically review the basics of our auction method of marketing. The following information may be illuminating to anyone new to purplewave.com, and a good review for the old dogs.

  • purplewave.com is an Internet-only, auction website.
  • We remarket agricultural, construction and transportation equipment.
  • Assets don’t need to be transported to sell; we go to them to gather information.
  • We conduct regularly scheduled auctions.
  • Sellers may sell one or many assets within these auctions.
  • We also conduct single-seller auctions for large asset groupings.
  • We use a seller encumbrance disclosure and pull UCC filings for sellers.
  • We request consent and payout guidance from secured creditors.
  • Assets are typically listed on purplewave.com and open for bidding within 14 to 30 days.
  • Traditional, electronic and telephone marketing is aimed at targeted bidders.
  • Bidders review listed assets and are encouraged to physically inspect them.
  • Transparency allows bidders to call sellers with questions and schedule inspections.
  • Assets sell and buyers pay Purple Wave in verified funds.
  • Invoices are emailed to both parties; asset removal is the buyer’s responsibility.
  • Purple Wave transfers titles to the new owners.
  • Auction proceeds are sent with a detailed settlement statement.

We have a high percentage of repeat sellers. They come back to us due to recovery prices, transaction-ease, marketing excellence and because we save depreciation, opportunity, time, carrying and transportation costs. Many lenders use our auction results for free comparable documentation, and review our listings often for their customers seeking specific assets.

Thanks for reading; now go poke around purplewave.com.

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Post by A

June 12 Annett Construction

Wed., May. 14, 2014 - 4 pm | Aaron Traffas, CAI, ATS, CES

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Aaron Traffas: Hello and welcome to Purple Wave’s Auction Podcast. My name is Aaron Traffas. A large portion of the June 12 construction equipment auction comprises assets from Annett Construction of Milbank, S.D. I’m speaking this morning with Richard Annett about this event. Good morning, Mr. Annett, and thanks for joining me.

Richard Annett: Good morning.

1994 Komatsu PC200LC-6L excavator

1994 Komatsu PC200LC-6L excavator

AT: Tell me about Annett Construction. How did you get started and how long have you been in business?

RA: Well, I graduated from high school in ’62 and my dad was in the road construction dirt work at that time. He figured I’d been goofing off long enough and he put me on a bulldozer and from there I kind of did soil conservation and worked for farmers and townships within a 50 mile radius of Melbank.

Tell me more about some of the different types of projects that you handled.

We worked for soil conservation jobs; we did grass waterways and dugouts for them. We did some different things for game, fish and parks as far as built boat ramps and parking lots for them. We also had a contract with Otter Tail Power, a power plant out there, where we got rid of the fly ash and cinders for 20 years with Otter Tail Power. In the winter months or winter time, we did snow removal work for different businesses and the school lots in the city of Melbank.

Why are you now retiring from the construction business?

Well, I have been fighting some cancer myself and that’s why I’m just going to slow down and try to take it easy and recover from this cancer that I’m fighting a little bit.

Well, I’m sure this was a very big decision for you. Why was it that you chose Purple Wave to handle this event?

Well, they approached me and heard that I was thinking that I would possibly be retiring and selling out my equipment and stuff. They kind of contacted me and I met with Ross and we talked about this auction – online type of construction auction.

Tell me about some of the different types of equipment we’ll be selling for you on June 12.

1966 Terex TS14 scraper

1966 Terex TS14 scraper

Well, over the years we had TS14 Terex Euclid scrapers and Komatsu bulldozers. I’ve got a Komatsu bulldozer and I’ve got a Komatsu excavator – PC200. Like I said, when I did some township regrading of roads and stuff for the townships, we had Champion and Galion motor graders. I’ve got two Champion motor graders still for sale on the sale, so – besides other equipment that goes along with construction business and stuff – chains and other equipment that you always need at the shop.

Richard, tell me about the condition of this equipment Has it all been well maintained?

Well, yeah. Whenever we had any problems with any construction equipment we basically kept it fixed so that if and when we needed the equipment it was ready to go to work. I’ve had a good amount of crew that did a good job of maintaining it – and JD Evans overhauled transmission or other equipment when, and if, I needed it.

Richard, is there anything else you want to say about this auction?

Like I said, we tried to keep our equipment in running condition at all times so that if and when we needed a machine or something – winter time we overhauled and fixed on whatever needed to have some attention – we did that at that time.

I’ve been speaking with Richard Annett about the Annett Construction retirement auction. Thanks again, Richard, for visiting with me this morning.

Thank you for calling.

1984 Champion 740B motor grader

1984 Champion 740B motor grader

I’m going to go now to Ross Schochenmaier, Purple Wave’s territory manager who has been working with Richard on getting everything ready and listed for this auction. Good morning, Ross, and thanks for joining me.

Ross Schochenmaier: Thanks Aaron.

This equipment is listed in our June 12 construction equipment event, and as we record this, we are just under a month away. I see about 60 items listed at purplewave.com. Are there more items yet to be listed?

RS: Correct, Aaron. We have roughly another 50 lots that will be hitting the website within the next two to three days. My goal is to have everything finalized by this coming weekend, with all of the final lots up early next week. The sale should be 100 percent complete by the mid part of next week.

Great. What would you consider to be some of the marquee items in the auction?

If I was in the construction industry and I was shopping, the Eager Beaver lowboy is a very nice unit. The PC200 is a great unit for the age with the hours. The TS14s are very marketable, very good machines. They’ve got good life left in them. Also, if you’re looking for a good, good loader, the Hough and the Fiat are – we’ve been using them getting set up for the auction and they run nice. The equipment is in good shape. It has sat for a while, but we’ve been working hard with the mechanic to make sure everything’s operational.

2000 Eager Beaver 50GSL triple axle detachable lowboy trailer

2000 Eager Beaver 50GSL triple axle detachable lowboy trailer

I understand that everything is located at one location there near Milbank, S.D., is that right?

That is correct. It’s at Richard’s shop off of 12th Street in Milbank. The address is on the website. If you’re not familiar, just head south on 15 and you’ll see the scraper sitting on the highway and then you can just head east from there.

We always recommend that a buyer takes a look at everything before placing any bids. To that end, we have an open inspection scheduled for Saturday, June 7, from 9 a.m. to 3 p.m., during which time anybody can swing by and take a look at everything. If that day and time doesn’t work for somebody, what does he or she need to do to make an appointment to look at something?

They can get ahold of either Richard of myself. Both of our numbers are listed on the sale website. We can make our schedules work. Units can be started up and operated, but with Richard’s health issues if you can’t reach Richard, do not hesitate to reach out to myself. I will be more than happy to help you out.

Tell me about pickup arrangements. After the auction, once payment has been made to Purple Wave and the buyer has invoice in hand, what does he need to do to come and arrange pickup?

1979 Hough-International H90E wheel loader

1979 Hough-International H90E wheel loader

We’ll be ready to begin load out as soon as the sale is done and as soon as the items are paid for. We will have the necessary equipment there to facilitate load out. We put most of the lots on pallets so we’ll have a skid loader there that we can easily load up your truck or your trailer. Bring in your copy of your paid invoice. You can contact myself at that point and we will have a couple of other – of Richard’s former employees that will be working with us throughout load out, but I will be the key point of contact at that point.

How soon does everything need to be removed?

We have 14 days as the typical load out. We do have some flexibility on there. You will notice on a few items – he has Euclid 34LDT scrapers, which are big, old scrapers that actually were used to build the dam on the Missouri River in South Dakota, here. They’re non-operational. They’re very heavy units. We are going to allow for up to 180 days to have those units removed because they are – the story, I’ve been told, is that it takes three dozers to push them, so they’re a big unit.

Ross, is there anything else you want to mention about this event?

Ross Schochenmaier

Ross Schochenmaier

I appreciate all the support that we’ve seen already. Richard is very eager to get this sale moving and we’re going to get everything finalized within the next couple of days. The biggest thing is that if you have any questions about any of the items or if something doesn’t make sense, please don’t hesitate to let me know.

I’ve been speaking with Ross Schochenmaier, Purple Wave’s territory manager for southwestern Minnesota and eastern South Dakota. He’s been working with Richard Annett for the construction package in the June 12 construction equipment auction. Thanks again, Ross, for joining me this morning.

Bidding for the construction equipment auction that includes assets from Annett Construction is open now and will close on Thursday, June 12, beginning at 10 a.m. central. If you have questions about any of the assets listed, or you’d like to schedule an inspection before the auction, contact Richard Annett at 605.291.9872 or Ross Schochenmaier, Purple Wave’s territory manager who’s been working on this event, at 612.834.9836.

Like all Purple Wave auctions, there are no reserves or minimum bids. Items receiving bids in the last few minutes will be automatically extended to give everyone a fair chance to bid. There’s no advantage in waiting, so view the complete inventory listing – and place your bids now – at purplewave.com.

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