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December 7 dealer inventory hotlist auction

Thursday, Oct. 27, 2011 - 5 pm | Aaron Traffas, CAI, ATS, CES

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Aaron Traffas: Hello, this is Aaron Traffas with Purple Wave. On December 7, Purple Wave will be conducting a hotlist auction for several ag equipment dealers in Kansas, Missouri, Oklahoma and Texas. I’m going to speak with our CEO Jerrod Westfahl to talk about the inventory in this event as well as how this auction might be a little different from those we’ve conducted in the past. Hi, Jerrod, and thanks for joining me.

Jerrod Westfahl

Jerrod Westfahl

Jerrod Westfahl: Hello, Aaron. Thanks for having me.

AT: Who are we going to be selling for on December 7?

JW: On December 7 we have the pleasure to sell for several ag dealerships who have been past sellers of Purple Wave at some pretty substantial levels and we’re happy to be working for them again. In particular, we’re working with Heritage Tractor, the John Deere dealer in eastern Kansas based in Baldwin City with several locations; Carrico, out of Beloit, Kan., with three locations; CTI, or Concordia Tractor, Inc., based out of Concordia, Kan.; and Western Equipment, based out of the western Oklahoma region, covering Oklahoma and part of Texas.

2009 John Deere 9770 STS combine

2009 John Deere 9770 STS combine

What makes this auction different than other auctions we’ve conducted?

Well, this auction includes just assets from ag equipment dealers. Another thing that makes this auction different from others we’ve done is that up until 14 days before December 7, the dealers selling equipment in this auction may retail-sell that equipment at private treaty sale to different buyers. Therefore, they have the option as a seller to pull the assets out of the auction until up to 14 days before the auction’s over. It’s another interesting opportunity for both dealers and their retail customers to get together and come to an agreement to purchase some of this equipment.

2009 John Deere 7330 Premium MFWD tractor

2009 John Deere 7330 Premium MFWD tractor

We’re just beginning to list the inventory on purplewave.com. What do you expect to see as far as the types of equipment and the final quantity?

We’re going to have a pretty good range of equipment in this sale, Aaron. Some of the marquee assets are going to include some later-model John Deere combines. In particular, there’ll be two 9770 combines from Heritage Tractor on this sale. There’ll be a 9760 combine, a 9750, and then between Heritage Tractor and Carrico we will have three additional combines, so a nice lineup of green combines in this auction. There’ll be some 1293 12-row corn heads, several nice planters including a 1770 no-till planter from Heritage, and several grain harvesting platforms, most of them flex heads. There’ll be a near-new demo unit Schaben pull-type sprayer.

2009 Case IH 1240 16/31 split row planter

2009 Case IH 1240 16/31 split row planter

One of the marquee assets on the tractor side of things is a relatively low hour John Deere 7330 mechanical front drive tractor that’s set up to have a loader put on it and make somebody a really nice loader tractor. We have a couple of higher horsepower four-wheel drive John Deere tractors as well in this sale. So, in total, we expect there to be about 150 different assets ranging from things like combo caddy setups for strip till applications of fertilizer, to grain carts, to extra sets of duals and Z-track lawnmowers, pull-type sprayers all the way up to combines and four-wheel drive tractors – a nice, overall, general mix of, we think, about 150 assets total coming into this auction.

Schaben 8650 pull sprayer

Schaben 8650 pull sprayer

Where are these assets going to be located, Jerrod?

These assets are going to be located in Missouri, Kansas, Oklahoma and Texas – throughout the trade area for those dealerships we talked about a little bit ago.

If I’m a prospective bidder and I see an item in which I’m interested, what do I need to do to arrange an inspection before I place a bid?

1996 John Deere 8870 4WD tractor

1996 John Deere 8870 4WD tractor

Well, we make it real simple for folks. On our website, underneath each asset in the item details, you’ll see the name and the contact information for a representative of the dealership selling that particular asset. It’s as straightforward as reaching out to that person and asking them questions – setting up a time to come inspect it personally if you’d like to make sure that someone is there to receive you during the inspection period. There will also be some open inspection periods that are usually in line with the normal business hours for each of the dealerships selling and buyers are encouraged to help themselves and make inspections on their own schedule as well.

What happens after the auction for the winning buyers? How are payments handled and when will winning buyers be able to come in and pick up the assets?

AgChem Rogator 854 MFWD sprayer

AgChem Rogator 854 MFWD sprayer

Well, once the final bidding is concluded on the auction on December 7, later that day the Purple Wave staff will send an invoice via electronic mail to all the winning buyers. That invoice will include a bunch of information about how to make payments. The payments are sent through Purple Wave. We will make it easy for buyers to get their assets paid for and then send them a confirmation that they are clear to pick up the asset and then they make arrangements directly with the seller to stop by and pick up their auction merchandise and take it home and put it to work.

I’ve been speaking with Purple Wave’s CEO Jerrod Westfahl about the upcoming dealer hotlist auction. Thanks, Jerrod, for joining me.

It’s been my pleasure, Aaron. Thank you.

Bidding for the dealer inventory hotlist auction is open now and will close Wednesday, December 7, beginning at 10 a.m. 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 with inspection information – and place your bids now – at purplewave.com.

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