auctions » news

press release

SouthWestern Association announces partnership with Purple Wave

Wed., Jan. 4, 2012 - 5 pm | press release

SouthWestern Association news release

The SouthWestern Association (SWA) is undertaking a new initiative to assist members with used equipment management.

“The SouthWestern Association has a well-earned reputation for helping its members develop solutions that are effective today and important for the long-term. We are excited to expand our work with the association, its staff, and its members,” says Jerrod Westfahl, CEO of Purple Wave.

“Dealers’ ability to identify, integrate and utilize products and services that meet current and future used inventory challenges is one of their key business success factors. Our service fits squarely into the category of options dealers should know about.”

Hard work, integrity, and creativity have grown Purple Wave to the region’s premier equipment auction service provider. Over the course of eleven years, equipment dealers have placed increasing amounts of used inventory in Purple Wave’s auctions. They are drawn to Purple Wave because of the firm’s reputation for professional service, understanding of the key challenges facing today’s dealers, and user-friendly website for both buyers and sellers.

The Purple Wave team consists of 55 professionals who have extensive backgrounds in agriculture, construction, finance and auction management.

SouthWestern’s partnership with Purple Wave gives members several benefits including special members-only auction events and preferential fee structures and service offerings. In addition, Purple Wave shares a modest portion of its revenue from member business to the SouthWestern Association to further support important member services and activities.

“We want to be the dealers’ partner and advocate, helping them solve problems and become more profitable,” says Jeff Flora, CEO of SWA. “We believe the Purple Wave relationship is an important component in fulfilling that mission.”

Leave a comment »

Post by A

Auction statistics and website analytics

Tue., Jan. 3, 2012 - 10 am | Aaron Traffas, CAI, ATS, CES

In our radio commercials, brochures and other collateral, we frequently reference statistics like the number of potential bidders and registered customers. Quantifying website traffic can be immensely valuable for sellers, and we recently began sharing some of these numbers publicly in a photo gallery on our Facebook page at facebook.com/purplewaveinc. Let’s take a closer look at some of the statistics that we track and why we feel they’re important.

November 2011 auction statistics

November 2011 auction statistics

Unique visitors
The unique visitors to a website are the number of unduplicated visitors during a period of time. We track our unique visitors each month using Google Analytics. While there are a few technical caveats, that number is essentially the number of potential bidders on the items in our auctions, as each visitor may register to bid. During the month of November 2011, Google Analytics tracked 145,783 unique visitors.

Visits
A single visitor who visits our site twice each day for a month will be counted for 60 visits that month. Visits are counted every 30 minutes, so a visitor remaining on the site for an hour will record two visits. During November 2011, Google Analytics recorded 381,514 visits.

Page views
Another straightforward statistic, page views are simply the number of pages delivered by the website. Each item listing is a page, as is our auction calendar and the auction details pages. During November, we recorded 7,391,597 page views, or a little over 19 page views per visit.

Registered customers
Purple Wave boasts the largest community of bidders on no-reserve Internet equipment auctions, and today we currently have over 76,500 customers who may place bids on the items in our auctions. These bidders know that our no-reserve policy means that when an item is listed in an auction, they have a real opportunity to purchase it without any tricks associated with buybacks or seller reserves.

Bidders per item
Those of us who have been to live auctions know that there are usually two or three people, on average, bidding on any particular item. Occasionally, we notice as many as five or six participants at a time. In November, Purple Wave’s bidding community averaged eight unique customers bidding on each item, with many of the more interesting items seeing even more bidders. More bidder participation by a larger customer community directly translates to higher recoveries for our sellers.

Bids per item
Another interesting comparison to live auctions is the average number of bids per item. An item with a lot of bidding activity may receive six or eight bids before all the bidders are done bidding. Occasionally, an item may receive 12 or 15 bids. Our November average was 17 bids per item.

Bids per bidder
Our bidding community is very active. Bidders who participated in auctions closing in November each placed an average of 9 bids.

Geography
The map on the auction statistics report places a single purple pin at the center of each ZIP code that contained at least one unique bidder. Many ZIP codes contain more than one bidder, but these are only represented by one pin. Google Analytics tells us where the visitors came from, and in November we had visitors from 50 US states as well as 165 countries.

We plan to occasionally look at these types of numbers over time, and when we do you can find them here or on our Facebook page. November’s report can be viewed as a picture or downloaded as a PDF.

Leave a comment »

Post by A

Stephens joins Purple Wave, Marnell takes new role

Tue., Dec. 20, 2011 - 12 pm | Aaron Traffas, CAI, ATS, CES

Last month, Customer Service Associate Cindy Marnell took a new position with Purple Wave as our newest sales coordinator. She’ll be working with our current sales coordinators, Tricia Kaupp and Amy Todd, to assist our territory managers. Congratulations, Cindy!

Joining Purple Wave to fill Cindy’s customer service position is Elisha Stephens. Elisha comes to us with a recent bachelor’s degree in business management from Kansas State University. She grew up in a small ag town, helping on a farm from a young age. Welcome aboard, Elisha!

Leave a comment »

Post by D

Holiday business tools

Thu., Dec. 15, 2011 - 3 pm | Dave Sommers, AARE, PRI

I often have these types of phone conversations.

Purple Wave Dave, you made me money today.

How so?

I have a borrower who had been looking for a Deere 4440 with a loader. I found one on purplewave.com and pointed it out to him. He was the high bidder and the money I loaned him just paid for it.

Great! Thanks for pointing it out and God bless him for bidding. Sounds like everyone is going home happy.

Dave, I’m calling to thank you for the assistance today.

How did we help?

I did some valuation research today on purplewave.com. You guys still list everything you have sold on there from months and years ago with descriptions and sale prices. I found some like-kind assets for which I needed updated valuation information. It was helpful.

I’m glad to hear it and you’re welcome! Transparency in auction is always good, and evidently handy as well.

It turns out our website offers some handy business tools. Lenders proactively watch for assets that known, potential borrowers are seeking. They also use our recovery prices as a comparative collateral valuation tool. It’s been pointed out that recent construction, agricultural and transportation asset recovery prices can assist in determining appropriate loan-to-value ratios.

You, too, are welcome to use these no-cost, business development and collateral valuation tools. Review upcoming auction listings from the front page of purplewave.com, or click auction results or the advanced search box to review recent recovery prices for specific assets.

If you would like some assistance in fine-tuning your searches, please give me a call. Merry Christmas!

Leave a comment »

Post by A

December 20 quarry and construction equipment auction

Fri., Dec. 2, 2011 - 7 pm | Aaron Traffas, CAI, ATS, CES

download audio file | play in new tab

Aaron Traffas: Hello, this is Aaron Traffas with Purple Wave. On December 20, Purple Wave will be conducting an auction of rock crushing, aggregate and quarry equipment and supporting machinery. I’m going to speak with Purple Wave’s Andy Artly who’s been on the ground working on asset listings and auction logistics. Hi, Andy, and thanks for joining me.

Andy Artley

Andy Artley: Hi, Aaron.

AT: What types of equipment are we going to be selling on December 20?

AA: Well, Aaron, we’re going to be offering a wide selection of quality aggregate and quarry equipment. It ranges from a complete crushing circuit that’s still been producing product up the very last minute to all the support equipment that helps keep it fueled such as haul trucks, excavators and wheel loaders. There is also a small asphalt and concrete package on this auction.

This is a single seller event, and that seller is Journagan Construction Company. Tell me about the company, where they operate, who they’ve worked for in the past and why they’re now selling this equipment.

Leo Journagan Construction Company is a family owned and operated business. They’re based out of Springfield, Mo. The company performs as either prime contractor or a subcontractor throughout the lower Midwest. They do highway construction and they produce a lot of construction aggregates. The company primarily operates in northwestern Arkansas and southwest Missouri but they’ve had a long history of performing work in about 26 states throughout the US. They’ve done work for the US Army Corps of Engineers, Department of Energy, other public utility companies and many state highway departments. Leo Journagan, who is the chairman of the board, founded the company in 1948, and he served as the president of the company for 50 years. Today, Allen Journagan is the president and chief executive officer, and it’s been that way since 1998.

Was Purple Wave the only firm consulted about handling this liquidation? Why, in the end, was Purple Wave selected to conduct the auction?

Aggregate circuit

Purple Wave was one option for Journagan Construction to use in marketing and selling its assets. All I can say is that after careful consideration of the marketplace, the resources involved and analyzing the potential for their greatest capital recovery, Journagan Construction engaged Purple Wave to bring their assets to this global marketplace.

Tell me about some of the marquee items.

Well, that’s where the fun conversation starts beginning here a little bit. We have a whole bunch of items we’re selling. They have an aggregate circuit that is producing limestone products and it’s a very good place to start. It features a 1995 Cedarapids 3054 portable jaw that feeds a couple of Cedarapids RC54 portable cones. Now, also hooked up in this circuit are a couple of Cedarapids screening plants, and finally there’s a ‘98 Cedarapids VSI 2100 impactor. All of the crushing equipment is in good working condition and, like I said earlier, even as we speak they just finished up a crushing job.

Euclid haul trucks

Now, along with that, there’s 13 conveyors. There’s a total of seven crushing plants. There’s a total of five screening plants, and then you get into the ancillary support equipment. They have an assortment of haul trucks, about six Euclid R35s. There’s a Cat D400E. There’s a John Deere 350C. There’s about 13 wheel loaders that includes some 988Fs, a 988B – there’s about four Volvo L150s, and I think there’s a Cat 966E, a D and a C. There’s also some excavators. There’s a real nice 2002 Caterpillar 330CL, a couple John Deere 200Cs – I know there’s a 140 motor grader out there. And I also want to note, they’ve got a small little asphalt package that’s got just a beautiful little 2001 Cat AP-1055 paver that’s got some Top Con electronics and some newer pads on it. There’s a Roadtec SB-2500 mobile shuttle buggy and there’s a Bartmill 300BT crawler profiler reclaimer. And you know, Aaron, there’s a whole bunch of other things I’m not even mentioning, but that should give you a pretty good snapshot.

While these assets are all from the same seller, they’re located at one of three, separate locations. Tell me about these locations and how we’re handling inspections for this auction.

Wheel loaders

Very good, Aaron. At Journagan’s equipment facility in Springfield, you will find most of the rolling stock items. At the Ozark quarry location, you’ll find a few of the larger wheel loaders. The John Deere 350C is there, and a couple of the crushing equipment items as well. At the Hollister quarry, you’re going to find jaw and cone crushers, all the conveyors, the Euclids, the D400 and a couple other items as well, too. The different equipment listings can be found right there on our website. As far as how you view it, all the equipment can be inspected by just calling ahead and setting up an appointment, or we’ll also be having some open houses. They’re going to be on December 9, December 17 and December 19 from 9 a.m. to 3 p.m.

A fair number of these assets that you’ve just told me about, Andy, aren’t exactly on wheels. Talk about how we’re handling removal and load out – what should a winning buyer expect?

Excavators

The aggregate pieces, they’re going to need to be picked up where they sit, and as anyone who is in the business knows, there are some logistical questions involved in moving them down the road. Journagan’s has named a preferred vendor who is very knowledgeable of the equipment and can give some estimates as to time and dollars needed to mobilize the equipment once it is purchased. All that contact information can be found right there on our website.

Andy, is there anything else you want to tell us about the auction?

Auction flyer

You know, Aaron, just one more thing. I’d like to add that if you look around right now, the demand for quality aggregate equipment is high, and there’s not a lot of offerings on the marketplace. In addition, there aren’t very many places where you can go and you can bid on working aggregate producing good product right now. There’s not very many places you can go to and talk to the users that are making it run and purchase items with full knowledge that you can start making money with this stuff tomorrow. This is a unique opportunity. If any of our potential bidders or buyers have some additional questions they can get a hold of either Danny or Gene with Journagan’s or give myself a phone call. Our contact phone numbers are printed on the website.

I’ve been speaking with Andy Artley, Purple Wave’s territory manager for eastern Iowa, Minnesota and Wisconsin. He’s been working on the Journagan Construction auction in southwest Missouri and can be found on the web at purplewave.com/andyartley or called at 507.649.7622.

Bidding for the quarry and construction equipment auction is open now and will close Tuesday, December 20, 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.

Leave a comment »

Post by A

December 19 Western Slope pipeline and construction auction

Thu., Dec. 1, 2011 - 3 pm | Aaron Traffas, CAI, ATS, CES

download audio file | play in new tab

Aaron Traffas: Hello, this is Aaron Traffas with Purple Wave. On December 19, Purple Wave will be conducting an auction of pipeline and construction equipment in western Colorado and northeast Utah. I’m going to speak with James Beal, Purple Wave’s territory manager for Wyoming and parts of Colorado, Nebraska and South Dakota. James has been handling asset listings and auction logistics for this event. Hi, James, and thanks for joining me.

James Beal

James Beal: Hey, Aaron, how are you doing today? You caught me on the ground out here listing equipment and getting all this listing put together. I’ve found a great line of equipment. It’s kind of exciting, what’s going on out here on the west slope. I’m excited about getting a new set of bidders out here looking at what Purple Wave is doing. We have a presence out here but I can see it’s going to go a long ways with this type of auction.

AT: Tell me about your primary seller in this event. Who is it, and why was Purple Wave selected to handle the liquidation?

JB: Well Grimsleys have run Western Pipeline Utilities Construction Company for about 13 years and closed down their business. They’d been registered with Purple Wave for a while and watched what we’d done. One option was to go over the hill to another auction with transportation and all other costs involved. As they’d seen what we’d been doing in the past few months with our construction auctions, they could see that their return and recovery was going to be an excellent deal with Purple Wave.

Well, James, it looks like you’ve got a solid mix of construction equipment from boring machines to heavy trucks to backhoes – tell me about some of the marquee items.

John Deere 350D haul truck

Well we’ve got a couple of nice, big, heavy duty construction items out there in Utah. We have a John Deere haul truck. It’s an off-road truck – really nice – they’ve taken very good care of it. It’s from Geary Construction out in Coalville, Utah. They’ve also got a Link-Belt 850 crane, off road. They’ve tried to keep one operator on that machine and it looks like they’ve done a very good job. They’ve got a good maintenance program and those two pieces are quality. As we got down to Grand Junction and Palisade we’ve got a company here that’s out of business. They’re selling off their assets which is a pipeline company.

1995 Link-Belt HTC-850 50 ton crane

There’s some high tech equipment here we’re finding when we open up the trailers and get dug back in there. Some of the assets there – we’ve got some backhoes, an excavator, trucks and trailers. We’ve got a pipeline drying system with a Sullair unit and dryer. It dries 12-inch pipe a long ways without any heat. It’s been engineered to do that. It’s a great piece of equipment there. We’ve got Ditch Witch boring machines and affiliated equipment and trucks and mud trucks, trailers – everything’s ready to go to get you a boring machine and get going. We have a lot of nice pipeline equipment here.

1992 John Deere 490E excavator

Well, James, as you’re doing a complete liquidation, you’re bound to run into some unique assets. Tell me about one or two of these more interesting items.

You know, you go into a yard that’s been in business for a while and you find all kinds of things. Apart from the pipeline equipment and this boring – we just found a lot of boring reamers and different types of equipment that’s going to be good for people to get out and about and used in their boring business. They’ve taken very good care of all this stuff. Another little unique item we found was a professional smoker on a trailer. For any companies out there that are thinking that they need to up their Christmas parties or any parties they have, this is a nice, large smoker barbecue that is on wheels. It can travel around and has a desert cooker for dutch ovens on the back. It’s quite a unique deal that I’ve found and I think companies that like to get in and have their own little parties and be able to go around and do a little barbecuing and up their party experience with their employees – I think they ought to take a look at this piece of equipment.

These assets are located at a few different places. Tell me about these locations and how we’re handling inspections and asset removal for this auction.

1991 GMC TopKick truck with Sullair SSD400 pipeline drier

We’ve got Red Grimsley’s name up there on the website and his phone number and email so you can contact him throughout the auction to come and inspect. If you’re going to come and be feet on the ground and put your hands on this equipment, you’re going to have to call ahead for appointments. It’s a lot of equipment to be moved here in the next three weeks and then with the two weeks after – trying to get it all processed and moved out of these yards. It’s just going to take some time. We’re going to have to have people with patience and we’ll have enough people here if we need to get things done properly. It’s in three different locations. You’ll have to give Red a call and he can get you in and get you loaded out and get things moving in a timely manner. The stuff out in Utah, you’ll have to contact that company to be able to help you get loaded up or whatever you need to do for transportation there. They’re very good people to work with.

And their contact information is also listed on the website with the items as well, right?

2004 Caterpillar 430D loader backhoe

Yes, every item we have on Purple Wave’s auctions has our contact information for getting ahold of somebody for inspections. We like to see people come and put their hands on the equipment and maybe operate it a little bit and just kind of see what they’re buying before they get too far in the process. Every item has a location and a number to get ahold of somebody so you could do that.

James, speak just a little more, if you would, about load-out and removal. If I’m a winning bidder, and I’ve made payment to Purple Wave as with all our auctions, and I call the number listed, what will I be expected to do? How much time will I have to remove the assets and how does the process work.

Professional smoker

The default time on removal of assets on an auction is 14 days. Sometimes that can’t be done. Communication is always key. If you need 20 days, you have to communicate that. When you don’t communicate, people don’t want to get along and sometimes there’s charges involved and other details. If you’ll communicate with us and let us know what you need, we can pretty well accommodate some things up to a reasonable fashion. Just give Red a call after the auction. You’re going to have to have a paid invoice. No one leaves with any equipment until we know it’s paid for. Red will have an invoice that he gets in his email saying what’s paid and then you’ll be able to pick your stuff up, even if it’s the day of the sale and we have a paid invoice that’s been made out to a money wire.

Is there anything else you want to tell us about the auction, James?

Auction flyer

Well, just that it’s an exciting auction. It’s nice to do a complete liquidation for a company that’s done a great business out here. They’ve kept really nice care of this equipment. I was here about three weeks ago and was amazed at what all started without needing jumped or any extra problems. A couple of things – the Freightliner is not able to start but it does turn over good and we’re going to try to have that fixed by sale day. A couple other little details, we’ve been working through them and getting everything to where we hope when people leave they’ll be a very happy customer and be willing to get back on Purple Wave and buy more equipment from us.

I’ve been speaking with James Beal, Purple Wave’s territory manager for Wyoming and parts of Colorado, Nebraska and South Dakota. He’s been working on the Western Slope pipeline and construction auction and can be found on the web at purplewave.com/jamesbeal or called at 308.464.3344. Thanks again, James, for joining me.

Thanks, Aaron, have a great day.

Bidding for the Western Slope pipeline and construction auction is open now and will close Monday, December 19, beginning at 10 a.m. mountain. 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.

Leave a comment »

Post by A

New registration system

Sat., Nov. 19, 2011 - 2 am | Aaron Traffas, CAI, ATS, CES

On Friday, we released some updates to purplewave.com. Aside from some minor changes to the look and feel of our site, we’ve made some significant changes to the customer registration system. These changes aim to make registration easier and faster for our users.

New registration form

Our new registration form is fast and light. Users now have the ability to register as a customer by providing much less information than before.

Upon completing the first registration form, an email is sent to confirm the address. Customers are then given the option to provide credit card information to become authorized to bid immediately or return to the website to utilize the features associated with having a Purple Wave customer account.

Over the coming months, we’ll continue to add new features to our website, and making it easier for customers to register to use these new features is only the first step.

For a complete explanation and walkthrough of our new registration process, visit purplewave.com/registration.

Leave a comment »

press release

Purple Wave becomes Kansas FFA Foundation Five Star Partner

Tue., Nov. 15, 2011 - 6 am | press release

MANHATTAN, Kan. — Purple Wave Inc., the largest no-reserve Internet auction firm in the country, has pledged $10,000 to the Kansas FFA Foundation through the Bid for Blue program. This partnership ensures full sponsorship of the Kansas FFA Agricultural Mechanics Career Development Event and provides funding to develop new initiatives during the 2011-12 fiscal year.

“As a former FFA member, I’ve personally realized the benefit members receive from involvement in the FFA. Purple Wave is dedicated to helping other students experience the same personal growth through their FFA experiences,” said Jerrod Westfahl, CEO of Purple Wave. “The future of the agricultural industry is vital to the success of Purple Wave, and supporting the Kansas FFA and its members is one way we can position the industry for continued growth.”

Launched statewide in June, the Bid for Blue program has provided financial support for 15 Kansas FFA chapters and the Kansas FFA Foundation. Through Bid for Blue, Purple Wave donates a portion of its commission earned on certain asset auctions back to the FFA on both the state and local levels.

“The Kansas FFA family and our Foundation Board of Trustees are thrilled to welcome Purple Wave as a Five Star sponsor. We have worked closely over the past several months developing a program that addresses the needs of both of our organizations. Bid for Blue is a shining example of what can happen when business and industry and the Kansas FFA collaborate,” said Kansas FFA Foundation Executive Director Kerry Wefald. “We look forward to growing this program and increasing support for our agricultural education programs.”

More information about the program is available at www.ksffafoundation.org and www.purplewave.com/bidforblue.

Leave a comment »

Post by A

Austin Davis joins Purple Wave as customer development specialist

Fri., Nov. 11, 2011 - 3 pm | Aaron Traffas, CAI, ATS, CES

Last September we created the customer development specialist role at Purple Wave that was filled by Jordan Sterling. Since then, Jordan has been reaching out to new customers to ensure that they are comfortable with our processes. Because of the positive response to Jordan’s efforts, we’ve added Austin Davis to our sales support staff as our second customer development specialist.

Austin Davis

Austin Davis

Austin is attending Kansas State University and studying political communications, which he says has proven beneficial to his position. “The knowledge I’ve gained through my studies has helped me communicate with our customers.”

Austin is originally from Dodge City, Kan. He says he’s been following the company’s progress with interest for the last several years. “I stayed in contact and have finally made it aboard. I joined because I knew that I would have the ability to grow and be of value to this ever-changing company.”

Austin will be assisting our territory managers and sales coordinators.

Leave a comment »

press release

Kansas again names Purple Wave as official auctioneer

Wed., Nov. 9, 2011 - 10 am | press release

The Kansas Department of Administration has again awarded the Online Auction Services contract to Purple Wave, Inc. This is the third consecutive time a contract for on-call auctioneering services has been awarded to the Manhattan-based Internet auction firm.

The contract establishes an official auctioneer to provide Internet auction services for all of the agencies of the state of Kansas and interested political subdivisions. After a competitive bidding process, Purple Wave was selected as the first contract holder in 2004, again in 2008 and now in 2011.

Under the contract, Purple Wave provides auction services to Kansas agencies, counties, cities, townships, school districts and other political subdivisions, allowing them to forgo the need for separate services bidding processes. Kansas public sector sellers utilize Purple Wave’s agricultural and construction equipment auctions in addition to regularly scheduled government auctions to sell surplus assets.

“This contract has added significant efficiency to the way state agencies in Kansas are able to take surplus equipment, vehicles and other property and liquidate those assets through a public sale,” said Jerrod Westfahl, Purple Wave’s president and CEO.

Purple Wave’s services to the state include creating detailed, professional listings of the assets as well as implementing both local and national advertising campaigns. In the last three years, Purple Wave has sold $17 million worth of assets for nearly 300 Kansas agencies and subdivisions consisting of 16,000 items in 185 separate Internet auction events.

“I am impressed with Purple Wave’s thorough preparation for our auctions,” said Matt Miller, Kansas Department of Transportation surplus property manager. “The staff visited the six district locations located across the state to collect asset descriptions and take pictures, which was a huge help to KDOT staff. The process is easy with Purple Wave’s territory managers handling all the details. Purple Wave provides reliable and prompt service.”

Westfahl said one of the keys to being successful selling public assets is transparency. “When it comes to disposing of publicly owned assets, ensuring transparency and visibility into the sale process is crucial.” Purple Wave lists all assets for public auction at www.purplewave.com and maintains lists of past auction results.

The new contract has a November 2011 through October 2014 primary term with two optional one-year extensions exercisable by the Department of Administration.

Leave a comment »