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Post by A

Price calculations and bid implementation

Mon., May. 28, 2012 - 6 am | Aaron Traffas, CAI, ATS, CES

Purple Wave’s bidding system is straightforward. Item prices are calculated based on direct bids, maximum bids and bidding increments.

Example bidding form

Direct bids
A direct bid is a bid placed in the your bid field. So long as this bid meets or exceeds the next required bid, the price immediately becomes this amount.

Maximum bids
A maximum bid placed in the your maximum field is the highest amount a bidder is willing to pay for an item. The system will bid automatically for the bidder only the amount required to win the item so long as it is less than or equal to the maximum bid.

Bidding increments
The bidding increments are used to calculate the current amount and the next bid required. For example, the increment for prices between $250 and $1000 is $25. Bids that are less than the next required bid are not accepted.

Calculations
The currently winning bidder on any item is always the bidder who has placed the highest maximum bid or a direct bid that is greater than any other bid. The current price is always calculated as one bidding increment above the last highest bid from another bidder or a direct bid if it is higher than any other bid.

Ties
There are no ties in an auction, but when a bidder places a bid that is equal to a maximum bid that has already been placed by another bidder, the first bidder remains the currently winning bidder at a price that is equal to the maximum bid. In the event that either bidder places a higher maximum bid, the current price is again calculated as one increment above the next highest bid, causing the current amount to be raised by one increment.

Example bidding history

Bidding histories
Purple Wave makes the complete bidding history available for every active item. In our pictured example above, we know that the item has received 15 bids. Clicking on the number of bids displays a page that contains the complete bidding history of the asset with the exception of the current winning bidder’s maximum bid which is never disclosed.

These bidding histories facilitate an open and transparent marketplace by allowing both bidders and sellers to view the number of active bidders, see when each bid was placed and understand what effect on the current price each bid had.

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Post by A

Purple Wave wins national marketing awards

Fri., May. 18, 2012 - 7 pm | Amy Shaneyfelt

Creative marketing and advertising in the auction industry is essential when it comes to the success and growth of an auction company. The National Auctioneers Association (NAA) Marketing Competition is a contest amongst its members and allows auction professionals the opportunity to highlight their innovative creations over the past year while vying for top awards for their marketing and advertising materials. The annual competition is presented in partnership with USA TODAY.

The competition is comprised of 63 categories in six divisions. This year’s competition received more than 650 entries. Entries were judged by a panel of marketing and advertising professionals with backgrounds in branding, promotion, public relations and graphic design. Judging criteria included creativity, effectiveness, clarity and visual appeal.

This year, Purple Wave was awarded first place in two categories.

Postcard – Farm Machinery and Equipment
Our first ag dealer hotlist auction featured the winning postcard for this category designed by Rod Hoover.

Ag dealer inventory hotlist auction postcard

The auction was held on December 7, 2011, and featured inventory from several notable ag dealers in Kansas, Missouri, Oklahoma and Texas.

Non-Traditional Marketing
We won this category with Aaron’s work on the podcast for the Dean Ag Services rental fleet reduction auction which was held on July 21, 2011. Remember to subscribe to Purple Wave’s Auction Podcast on iTunes or listen to all our podcasts on our podcast page.

Postcard – Commercial/Industrial: Machinery & Equipment
Purple Wave was awarded second place in this category for the postcard Rod designed for the large construction equipment auction held last November 17.

November 17 construction equipment auction postcard

This auction was held on November 17, 2011, and featured assets from a well respected construction contractor in the Kansas City area.

Purple Wave has been the recipient of 24 NAA Marketing awards since 2008.

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Post by A

John Hengel new territory manager in Minnesota and Iowa

Fri., May. 11, 2012 - 3 pm | Aaron Traffas, CAI, ATS, CES

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Aaron Traffas: Hello this is Aaron Traffas with Purple Wave. Today, I’m going to speak with John Hengel, Purple Wave’s new territory manager for southwestern Minnesota and north central Iowa. Hi, John, and thanks for joining me.

John Hengel: Hi, Aaron, and thank you.

AT: Tell me about yourself. Where did you grow up and where do you live now?

John Hengel

JH: Well, I grew up in Bloomington, Minn., which is a small suburb of Minneapolis on the southwest side. I lived there for a number of years and got married and now I live in Shakopee, Minn., which is, again, southwest of Minneapolis.

John, tell me about your previous work history and experiences. What have you done in the past?

Well, I guess my previous work experience – I started working full time at the Mall of America, which – I’m sure you know what that is. I was the exterior facilities manager there. I took care of the grounds and maintenance and snow plowing and landscaping and everything that happened on the outside of the building. Then I worked for a large – probably one of the largest in the twin cities – landscaper that also did excavating and utilities and road work and that kind of stuff. I’ve also worked for a concrete manufacturing company which is Aggregate Industries. That’s most of my history in a nutshell.

Well, it sure sounds like you’re familiar with equipment, John. What made you set your sights on Internet auctions and what made you decide you wanted to be a part of Purple Wave?

Well, if you’d have asked me a month ago or month and a half ago before I started talking with Purple Wave, I probably wouldn’t have had much of a response. I saw the ad that they were looking for somebody. I met with one of the territory managers. It really got me excited. With what Purple Wave’s doing and their past and what they plan on in the future, it would have been really hard to turn down the offer that I got. I’m really excited.

Well, you’ve had a chance to experience Purple Wave here for the last several days. You started last Monday. Tell me what you think about Purple Wave so far and what do you think of your decision after your first week.

Well, so far I’m very overwhelmed with all the technology and all the different things that they do to make sure that all their auctions are on the up and up and everything runs smoothly. I’ve been going through a lot of training. I’m really impressed. I’ve actually made the comment that when you look at what the company is you’d swear that it would take 300 people to do it, but they have a great group of people that I’ve met down here that’s not 300 people. It’s very few – a lot less than I ever thought it would be. They’ve been great and gracious in teaching and training me all week. I’m excited to head back to Minnesota and get going.

Well, tell me about that, John. Describe the area you’re going to be covering as a territory manager up north.

Basically my territory that I’m going to be covering is southwest Minnesota. If you started at Minneapolis and went straight south on Highway 35 and went straight west on Interstate 94 and drew a big box in that corner of Minnesota – and then part of northern Iowa right there – that’s going to be my territory.

What are your responsibilities and how will you go about representing Purple Wave in Minnesota and Iowa?

Well, being that this is an expansion area for Purple Wave, there’s not tons of customers in this area. My goal is going to be to get out and knock on a lot of doors and make a lot of phone calls and introduce Purple Wave to a lot of potential customer, whether they be somebody wanting to sell some equipment or somebody wanting to buy some equipment. That’s really going to be my goal, to get out and make sure everybody knows who Purple Wave is and what we do.

Well, we’re sure excited to have you up in that neck of the woods. Tell me about your personal interests, John. What do you like to do in your spare time?

Like I said a little bit ago, I am married. I have one daughter that’s going to be 10 years old, so she’s very active and doing all her different things which takes up time. When she’s not doing her activities, she and I are spending time together and with my wife and with other family members. I probably do have a little bit of a problem. I really enjoy fishing and the outdoors and hunting. When I’m not with my family, that’s what I’m doing.

I’ve been speaking with John Hengel, Purple Wave’s new territory manager for southwestern Minnesota and northern Iowa. Thanks again, John, for joining me today.

Thank you.

Find John on the web at purplewave.com/johnhengel. Contact him at john.hengel@purplewave.com or call 952.220.7068.

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

Jackie Black new territory manager for Texas, New Mexico, Oklahoma

Fri., May. 4, 2012 - 7 pm | Aaron Traffas, CAI, ATS, CES

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Aaron Traffas: Hello this is Aaron Traffas with Purple Wave. Today, I’m going to speak with Jackie Black, Purple Wave’s new territory manager for northwestern Texas, eastern New Mexico and the Oklahoma Panhandle. Hi, Jackie, and thanks for joining me.

Jackie Black

Jackie Black

Jackie Black: Hello, how are you, Aaron?

AT: I’m doing well. Jackie, why don’t you start by telling me about yourself – have you always lived in Amarillo?

JB: No, actually I grew up in Lubbock. I spent most of my life in the Texas Panhandle or had nine years or so in the southwest portion of Oklahoma. I’ve been in that part of the country my whole life.

I understand you have a experience in both equipment rental and the publishing industry. Tell me about those experiences and how you came to be interested in Purple Wave.

Sure. I’ve actually been in the ag industry for over 20 years and I’ve had numerous experiences in that capacity. I ran a publication for the dairy industry for roughly nine years. Previous to that, I ran a Case International whole goods department for a dealership in southwest Oklahoma. I’ve been in the leasing business with harvesting and harvest leasing equipment. I just have really loved the ag industry and have been very involved with that for a long time.

You’ve been on the ground at our Manhattan headquarters for the last few days, anyway. What do you think of the company and crew so far?

Oh, I love it. Everybody’s – the support staff is fantastic people. It feels like you’ve got two people for every guy out in the field. It’s just a smooth operation and everybody’s working towards one goal and that’s to do the best job we can for our customers.

Talk a little bit, if you would, about how you fit in to that goal. What are your roles and responsibilities? Describe the area you’re going to be covering. What’s going to be an average day for you?

I’ll be covering actually the Texas Panhandle as far south as south of Lubbock, eastern New Mexico and the Oklahoma Panhandle. There’s a diverse amount of equipment in that span of area. There’s ag and commercial equipment, but there’s a tremendous amount of what I would call ag-commercial, in that there’s a lot of CAFO operations that are confined animal feeding operations, both in the dairy industry and in the beef feeding industry. I just feel like Purple Wave has a tremendous amount of opportunity down in that area with expanding people’s ability to sell their equipment to a much larger group of buyers.

Tell me about some of your personal interests, Jackie. When you’re not going to be beating the bushes down there in Texas, what do you like to do in your spare time?

Well, I like to hunt and fish, of course, but in the Texas Panhandle you hunt a lot more than you fish. There’s not just a whole lot of areas to do that in. I have three kids, and they keep my schedule pretty full outside of work, so between those times that’s kind of what we do. I’ve got a son in college who plays baseball, so we try to sneak away and watch a few games on the weekends here. The kids’ schedules pretty well fill up the rest of the time.

I’ve been speaking with Jackie Black, Purple Wave’s new territory manager for northwestern Texas and eastern New Mexico. Thanks again, Jackie, for joining me today.

Find Jackie on the web at purplewave.com/jackieblack. Contact him at jackie.black@purplewave.com or call 806.681.0488.

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 M

Matthew Coomes joins Purple Wave as Web operations associate

Tue., May. 1, 2012 - 12 pm | Mike Rasmussen

Matthew Coomes is the newest addition to the Web operations team. Matthew started working out of our Manhattan headquarters last month.

An important quality for anyone working in Purple Wave’s Web operations is a familiarity with the equipment that we sell. Matthew grew up on a family farm, so he knows ag equipment. He’s worked for a cement company over the last two summers, so he’s also comfortable with many types of construction equipment as well.

Matthew will graduate with a degree in computer information systems with minors in business and agribusiness.

Matthew Coomes

Matthew Coomes

I am from a small town in southeast Kansas by the name of Saint Paul. I grew up on a farm just outside of Saint Paul where, as a kid growing up, I spent many hours on the farm doing various things. I will graduate in May from Kansas State University.

I joined Purple Wave because it seemed like a great opportunity to continue my career in a company that is growing and to gain experience and knowledge in an area in which I enjoy working.

What I enjoy most about working at Purple Wave is the great atmosphere.

Matthew will join Brandy, Tyler, Tabatha and me as he works to help create and process the listings and pictures for the assets that sell on our website. On behalf of everyone at Purple Wave, I’d like to welcome Matthew to the team.

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Post by A

May 10 heavy construction and aggregate equipment auction

Tue., Apr. 24, 2012 - 8 pm | Aaron Traffas, CAI, ATS, CES

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Hello, this is Aaron Traffas with Purple Wave. On Thursday, May 10, Purple Wave will be conducting an auction of heavy construction and aggregate equipment located in Kansas, Missouri, Oklahoma, Minnesota and Iowa. I’m going to speak with Bob McBride, Purple Wave’s territory manager for Sedgwick County, Kansas. He’s been working with Sherwood Construction, one of the larger sellers of aggregate equipment in this auction. Good morning, Bob, and thanks for joining me.

Good morning, Aaron.

May 10 heavy construction and aggregate equipment auction flyer

May 10 heavy construction and aggregate equipment auction flyer

First, tell me about this auction. This is the second Purple Wave auction that’s comprised heavier crushing and aggregate equipment. Did the success of the auction last December for Journagan Construction Company serve as a catalyst for the decision to conduct another heavy equipment auction?

Aaron, I think it did. In fairness, we do sell quite a bit of construction equipment. I think it was a natural migration that we would eventually end up servicing the quarry sector. Absolutely, the Journagan sale was a success for us. We certainly appreciate the trust that the Journagan’s had in us, awarding us with that project. Yes, it was a good auction. It was very successful. Certainly it built our confidence in calendaring another quarry auction event. You know, in our marketing efforts for that sale, we were given the opportunity to meet a lot of good buyers for quarry equipment. So, certainly those folks – we’ll reach out to and let them know about the opportunity here forthcoming on May 10.

Tell me about Sherwood. What kinds of work have they done and why have they decided to sell some equipment at auction with Purple Wave?

Aaron, the Sherwood Companies is a multigenerational family business that was founded back in 1934 – nearly 80 years in the construction business. Their operation is primarily based in Kansas and Oklahoma. They do have an affiliate company out in Colorado. Their main focus is heavy grading, commercial site prep. – they do some highway construction. I mentioned they do have affiliate companies, one of them being Greenhill Materials Co., which is the quarry operation that we’ll be working for on May 10. We’ve had the good fortune of working for Sherwood for about two years now, so I think we’ve built some rapport with them. They’ve got confidence in our system and our auctions, so here we go with an opportunity to sell some equipment that they no longer have a need for at their quarry in Owasso, Oklahoma.

Where is this stuff from Sherwood located?

2008 KPI/JCI 3850

2008 KPI/JCI 3850

Aaron, the items for Sherwood are located at their Greenhill Materials quarry, located in Owasso, Okla., which is just really a stone’s throw north of Tulsa – very good ingress and egress to the location there, particularly moving these heavy pieces – these crushing pieces out…good highway going in and out, it’s not a remote location, again, just north of Tulsa, Okla.

Tell me about the equipment that they have there, specifically.

We have a 2008 KPI-JCI 3850 portable impact crusher. It’s mounted on a 2001 Kolberg-Pioneer carrier. The crusher has a 250-horsepower three-phase motor. The power lead for the feeder and the discharge motor are included. The switchgear and an Eaton soft starter are included. All the manuals for the switchgear and the soft starter will go right along with the sale. We also have a Lippmann 30×42 portable jaw crusher. It has 150-horsepower three-phase motor on the crushing unit. All the power leads for the unit are included. The have recently replaced the trailer brakes and the tires on the carrier. The switchgear has several auxillary connectors and they recently replaced the ABB 150-horsepower soft starter, so all of the switchgear and soft starter is included with the sale. I also might mention, when looking at the pictures online – when we photographed this asset it was still blocked up where it had been crushing. By the time the auction closes, they will have it taken down and made ready to haul out for load out. They have a couple of conveyor units that we’ll be selling. They have a 2006 Brandt Manufacturing hydrocyclone tower, which comes complete – there’s a 40-foot tower – it’s in two sections, now, with this hydrocyclone manifold system that’s mounted on it. That will sell. We also have a BTI crusher-mounted breaker that mounts alongside of a crushing unit and helps break some of the larger rock in the hopper. Those are the Sherwood assets that are in that event.

We’ve got several other nice equipment packages in this event. Tell me about some of those.

Lippmann 30x42 portable jaw crusher

Lippmann 30×42 portable jaw crusher

We’ve got some large wheel loaders. We’ve got a Caterpillar 966E coming out of Des Moines, Iowa. We also have a Komatsu WA500 that’s located in the state of Kansas. There’s a 2004 Kenworth super dump truck that’s in Minnesota. We’ve got an FMC Link-Belt HTC truck-mounted crane – a number of assets – a Pioneer 3416 portable duplex crusher. It’s a jaw and roll crusher. It’s located in Missouri. Just a number of other assets, Aaron – right now around 70 items are in the auction at the current time.

Well, as we record this episode, the auction is just under three weeks away and, like you say, we’ve got over 70 items. What’s your guess as to the total number of pieces we’ll end up with and when we might have a complete inventory listing for this auction?

2004 Kenworth T800B Super 18 dump truck

2004 Kenworth T800B Super 18 dump truck

I don’t know exactly how many more pieces we’ll come up with, but just as early as this morning I heard of one of our auction managers that had secured a few more pieces for this auction event. I’d say that if you’re a buyer, if you would look around the thirtieth of this month, you should likely see all of the assets that will map up into this sale on May 10. I expect more. Look back frequently. I do know as we learn more about some of the assets, the descriptions will be improved, so I would encourage potential buyers to look over the assets and, again, if you looked once, please look back again. Take a good look at the descriptions, the photographs, etc. Expect a nice offering. Again, you should see the total piece count by the end of this month.

Tell me about inspection and pickup. What needs to be done for any prospective bidders who may not yet be familiar with Purple Wave and our standard inspection and pickup procedures. What needs to be done to take a look at the equipment and how long do buyers have to remove purchases?

1988 Caterpillar 966E wheel loader

1988 Caterpillar 966E wheel loader

It’s very easy, Aaron. We’re very transparent with all of the assets we sell across all of our auctions. This one will be no different. If you’re looking at an item or items that you’re interested in, the location of the asset is noted. As you look into the details page for that particular asset as you’re scrolling through all the detailed pictures, description, etc…we also have the seller’s contact information or the seller’s representatives. In the Sherwood case, we have the superintendant for the quarry operation. You can call him direct. Again, the seller and seller reps are listed there – their phone numbers, their email – so you can call them and inquire about the assets. If you want to set up an appointment to go inspect the items before the auction closes, you can do that. We encourage that. As far as the load out post-auction, we ask that once the item is paid for that you contact the seller or seller rep within 48 hours of the auction close to make arrangements. You don’t have to have the asset picked up within 48 hours, but just make arrangements – touch base with them, let them know your intentions. Our general terms are that we ask that the items are picked up within 14 days. I’ll go out on a limb and I’d say that if you have clear, clean communication with the seller, if there’s an earnest reason why you can’t get in there within that time, then as long as you communicate with the sellers, I’m going to say most will work with someone who’s making a real effort to get the items moved out. Again, all of our sellers’ contact information is located at the item listing so you can contact them direct.

Bob, is there anything else you’d like to say or mention about this auction?

Do look back at the inventory. We do expect it to increase, and so do look back through the items. Again, our sellers’ information is there so you can call to inquire about more details on the assets. Often times – I’m looking at the inventory now and we have some rock drills. Many times, we have videos attached to the item-level listing, too. If the item is in an operating state and we’re there picturing it, we’ll have the operators run it and shoot a quick video, so the videos are there. We’re excited about this event. It’s going to be a nice opportunity. There’s good equipment and the bidding will close on the tenth of May.

Bob McBride

Bob McBride

Bob McBride is Purple Wave’s territory manager for Wichita and Sedgwick County. You can find him on the web at purplewave.com/bobmcbride. Contact him at bob.mcbride@purplewave.com or call 316.250.0298.

Bidding for the heavy construction and aggregate auction is open now and will close Thursday, May 10, 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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Post by A

Cooper returns, Schlegel new customer service manager

Fri., Apr. 20, 2012 - 12 pm | Aaron Traffas, CAI, ATS, CES

We’ve recently made a couple of personnel changes at Purple Wave headquarters in Manhattan.

Michael Schlegel

Michael Schlegel named customer service manager
Schlegel joined Purple Wave in 2007 as an accounting associate and was promoted to our human resources manager in June 2009. In his new position as customer service manager, Michael will have oversight of the daily operations of our customer service team, as well as responsibilities with new associate training and development. Michael has a degree in financial planning from Kansas State University and has previous customer service experience. Michael’s skills and experiences will be a valuable addition to our customer service team as we continue to provide unmatched service and support to our bidders, buyers and sellers.

Tiffany Cooper

Tiffany Cooper returns as executive assistant and project manager
Tiffany Cooper was an accounting associate at Purple Wave in 2010. In 2011 she moved to Washington, D.C., where she worked as executive advisory operations analyst under the Corporate Leadership Council at the Corporate Executive Board Co., where she gained valuable experience in compliance policy improvement and team coordination. She recently returned to Kansas to be closer to family. In her new role, Tiffany will provide administrative and project management support for Purple Wave’s executive team and we are excited to get her back.

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Post by A

John Belger Construction Company retirement auction

Tue., Apr. 17, 2012 - 4 pm | Aaron Traffas, CAI, ATS, CES

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Aaron Traffas: Hello, this is Aaron Traffas with Purple Wave. On Tuesday, April 24, Purple Wave will be conducting a retirement auction for the John Belger Construction Company, a very well known and respected construction contractor in the Kansas City area. I’m going to speak with John Belger about this event and the equipment in it. Good morning, John, and thanks for joining me.

John Belger: Good morning, Aaron. I’m glad to be here.

AT: Let’s say I’m a prospective bidder from outside the area who may not be familiar with John Belger Construction. Tell me about your company. How long have you been in business and what kinds of construction projects did you complete?

John Belger Construction Company retirement auction flyer

Auction flyer

JB: Aaron, we’ve been in business since 1981. We started out as a small driveway, manhole, pour-in-place contractor and developed into more of an excavating, stormwater, bridge contractor over the years. One thing just kind of led to another and got us involved in a lot of different kind of work. We were very fortunate to work for a lot of good folks. We had some great people working for us that were very responsible and took good care of our equipment. We’ve decided to pursue some other options as far as working goes and we decided to liquidate our construction equipment. We want everyone to know that we have well-maintained, very good, low-houred equipment available that’s ready to work. We have all the service records. Any kind of questions anybody would have about the equipment – we would be happy to answer any questions.

Well, John, the selection of the auction firm to conduct your retirement auction must have been a very big decision for you. Why, in the end, did you elect to use Purple Wave?

It was a very big decision. You know, it was a hard decision to make the call in the first place, especially when it comes to liquidating the equipment. We had some other options available but we felt like Purple Wave was actually better for our selling situation and we feel very comfortable with the folks we’ve been dealing with. They’re very honest. They work hard. That’s kind of the way we always tried to do our business, so we’re a good match.

2004 Komatsu PC400LC-7L excavator

2004 Komatsu PC400LC-7L excavator

Right now, John, we’re at 101 items listed for this auction – and I’m told that’s a complete inventory – which is certainly not the highest piece-count event we’ve conducted, but from what I hear from our district managers Jeff and Richard who’ve seen it, it’s an auction of perhaps some of the highest quality and best-maintained used equipment that we’ve seen. You mentioned a moment ago about it being low-houred and having some service records. What are some other comments that you might make about the condition of your equipment in this auction?

Well, Aaron, we always tried to find the best brand of equipment for what we were doing the work for, and we have got quite a conglomeration of different brands of equipment, but we felt like we were always buying the best. We were versatile. We tried to do all the work ourselves. We did the digging, we did the pouring of the concrete, the backhoeing and such. That’s kind of why you’ll find that this equipment is pretty low-houred due to the fact that we did all the procedures of the job and that’s why there were a lot of times the equipment sat, but we needed it to finish the jobs and what have you. We have some very well maintained – the guys were very good at keeping the equipment as it should be and very responsible. Folks that are looking for some good, strong equipment – we’ve got it out here for you.

You’ve got several nice excavatorsin this auction. Tell me about each of those and then talk a little about the rest of the inventory.

2007 Komatsu PC200LC-8 excavator

2007 Komatsu PC200LC-8 excavator

We bought a PC400 at the end of 2004. Actually, it didn’t go into service until 2005. RoadBuilders Machinery Company set that machine up for us and we tried to make sure that it was plumbed and the auto lube’s on it. At the time, when we purchased the machine, we did not purchase the hammer with it. We purchased it in 2006 – a GH18 12000 energy force breaker that has very little use on it. We tried to set the equipment up to where it would be available and ready for anything that came down the line. We have the JRB coupler on it. It’s a very nice unit, just shy of 1500 hours, ready to go – I’d consider the undercarriage great. Two years later, we updated the 200 to a PC200-8. We basically had him set it up the same way. We put a hydraulic, four-tine progressive thumb on that machine, a Lincoln auto lube, hammer kit – basically set it up the same way. Each machine has two buckets with it; they’ll sell separately. Then we go down to our smaller mini-excavator, the Takeuchi, set up with two buckets, couplers, hydraulic thumb. Skid steer loaders – we have a Cat skid steer loader with most every available option. Ride control, two-speed, hydraulic quick coupler, cab heat and air – a very nice unit. It just goes down from there to the pickup, dump truck, trailer, small equipment, a lot of good small equipment. We took care of our small equipment just as much as we did our big equipment and everything’s ready to go.

2006 Takeuchi TB145 compact excavator

2006 Takeuchi TB145 compact excavator

It sure looks like a great inventory, John. What does a serious, prospective bidder need to do to come and take a look at this equipment before placing a bid?

Well, anybody’s welcome to come at any time if they could just call the number on the Net, there, but my cell number – you could call it any time, we could make arrangements. We actually have an open house on the Monday before the sale from noon to 7 o’clock in the evening and everybody’s more than welcome to come and visit and look things over and get ready for the bids.

Sounds great, and we’re also going to have some Purple Wave personnel at that open house as well to answer any questions about the auction process and to be able to register any bidders who may have questions about that process. Again, that open house is Monday, April 23, from noon to 7. John, let’s say I’m a winning bidder, and after I’ve paid for my purchases, what then do I need to do to arrange load-out? What’s the time frame that I need to operate under and what kind of assistance might be available for me?

1998 Ford Louisville L8501 dump truck

1998 Ford Louisville L8501 dump truck

Well, we actually own the property, so there’s not a big push for the removal of it. I’m sure everybody wants to get their equipment as soon as possible, and we’ll have equipment there to help or assist any way we can. Purple Wave will have a Machinery Link operation there for people needing lowboy bids. I’m sure that they’ll do a good job of giving you a price on getting your equipment to where you need it to be. We’ll do everything we can to help. We’d like to have – having the equipment out within a week or two of the end of the sale would work best for us.

It would probably work best for you if winning bidders gave you a call to let you know when they’re going to be there to pick it up.

It would be much appreciated.

Caterpillar 272C skid steer

Caterpillar 272C skid steer

John, is there anything else you’d like to say or mention about this auction?

Like I said before, we appreciate all the people that we’ve worked for and all the people that’s worked for John Belger Construction Company. We appreciate Purple Wave helping us distribute this equipment in the end, and we can’t say how much.

I’ve been speaking with John Belger, owner of the John Belger Construction Company. Thanks, John, for joining me.

Thank you very much, Aaron.

Bidding for the John Belger Construction Company retirement auction is open now and will close Tuesday, April 24, beginning at 10 a.m. There will be an open inspection on the day before the auction, Monday, April 23, from noon to 7 p.m. Inspection is also available by appointment with John. His contact information is listed on the auction details page at purplewave.com. 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 and place your bids now at purplewave.com.

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Post by A

Jeremy Reid becomes auction specialist

Thu., Apr. 12, 2012 - 5 pm | Aaron Traffas, CAI, ATS, CES

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Aaron Traffas: Hello this is Aaron Traffas with Purple Wave. Today, I’m going to speak with Purple Wave’s newest auction specialist, Jeremy Reid. Hi, Jeremy, and thanks for joining me.

Jeremy Reid

Jeremy Reid

Jeremy Reid: It’s a pleasure to be here, Traffas.

AT: You’ve actually been working for Purple Wave for quite a while in a customer service capacity, and we’ll get to that in a moment, but, first, tell me about yourself. Where did you grow up and what did you do before joining the firm?

JR: Well, Traffas, I graduated from Winfield High School which is down in south central Kansas. Both of my folks still live and reside in that area, so I guess that’s what I’d call home. In terms of what I did before joining the firm, to pay the bills while I was at Kansas State University I served many roles with the Dillons grocery store industry, working at three of their different stores and ultimately serving as a customer service manager before accepting my position with Purple Wave.

Tell me about your experiences working with York for the last three years working in the customer service department.

Well, serving as an issue resolution specialist, my primary day-to-day tasks were to identify, mediate and resolve a veriety of issues throughout the lifecycle of our auctions, both pre-, current- and post-auction. These would include collaborating internally with several of the job functions within the offices, as well as communicating externally with all of our various customer segments – our buyers, our sellers, our bidders, our contacts, etc.

You recently changed positions to an auction specialist. We haven’t yet really discussed the difference between an auction specialist and a territory manager on our podcast series. Talk about your new roles and responsibilities and describe the area you’ll be covering. What’s an average day for you?

Well, the two positions are really one and the same in regards to the daily job tasks. Both include a lot of client relationship building in addition to our data capture and submission roles for all the listings you see live and active on Purple Wave. The main difference between the auction specialist and the territory managers is my ability to be very mobile to a large geographic footprint. Predominantly, I’m going to be in the north central and south central parts of Kansas, but at times I will be stretching the footprint of the company for some deals that we’ll be booking on the outskirts reaching towards both coasts and towards Canada and Mexico.

So why the change?

Well, after having been with the company for, as you stated, three years now, I’ve been in a role there that’s predominantly been buyer-focused and directed towards the post-auction process. I have a lot of intrigue to have the ability to experience more time with our sellers and the pre-auction process. Ultimately, that led to my decision. Down the line, I feel that seeing things from both sides of the coin – walking in both pairs of shoes – should lead to continued advances in our service offering.

So, what you’re saying, is your familiarity with some of the more common issues that may arise post-auction may help lead you to be pro-active and prevent those from happening in the first place.

I couldn’t have said it better myself, Traffas.

Tell me about some of your personal interests. I know you’re a rabid K-State fan. What kind of stuff do you like to do in your spare time?

Well you hit the nail on the head there. I’ve been born and bred a Kansas State University supporter – purple and white all throughout my wardrobe. When I’m not supporting the Cats, I do enjoy live music. I’ll give any genre a chance. Above all else, in terms of physical activity, I like to see myself in a pair of skis – first snow, then water, but really, in the end, they’re both one and the same.

I’ve been speaking with Jeremy Reid, Purple Wave’s new auction specialist. Thanks again, Jeremy, for joining me today.

I’m glad to be here.

Find Jeremy on the web at purplewave.com/jeremyreid. Contact him at jeremy.reid@purplewave.com or call 785.341.9970.

Don’t forget to like, follow and subscribe to our content on Facebook, Twitter and YouTube, as well as this 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 D

Lender remarketing considerations

Wed., Apr. 11, 2012 - 3 pm | Dave Sommers, AARE, PRI

Experienced lenders repeatedly share with me their philosophy in remarketing collateral. To sum up their message in a succinct paraphrase, they desire to effectively and efficiently conduct a commercially reasonable sale, as holding costs quickly erode recovery dollars.

Holding costs add up faster than many realize, and here are several other aspects for consideration.

Depreciation
Equipment, especially when not in use, does not typically become more valuable with time.

Opportunity
Where could the recovery money or reserves be used elsewhere?

Time
Sell well and efficiently. Hire a professional remarketer to free your time.

Frustration
Get the issue off your desk, heed lessons learned, sleep well and move on.

Carrying costs
Insurance, storage fees, maintenance, pilfering and other costs add up quickly.

Transportation fees
Moving assets is costly and always involves a chance of damage. If possible, sell equipment where it sits.

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