Aaron Traffas: Hello, this is Aaron Traffas with Purple Wave. We’re conducting relocation auctions in Wichita during the first week of December for True Value and Absolute Natural Stone. I’m going to visit with Bob McBride, Purple Wave’s territory manager in Wichita, about these events. Good morning, Bob, and thanks for joining me.
Bob McBride: Hey, good afternoon, Aaron.
AT: Bob, these two auctions for True Value and Absolute Natural Stone are related. Tell me about the interesting circumstances.
BM: Yes, Aaron. These businesses are owned by the same party, and they’re having to relocate the business due to eminent domain. Their property – their business property there is being taken for highway improvements between Kellogg Avenue and the Kansas Turnpike, so that’s the reason for the auction for Absolute Natural Stone and their True Value Rental store.
Well, let’s talk first about the True Value Rental equipment. That auction begins to close Thursday, December 3, at 1 p.m. Right now, I see over 150 items listed on the website. What kind of equipment is True Value selling?
We have a full complement of rental store equipment: skid steer, excavator, trailers from A to Z, mini-skid steer, stump grinders, trenchers, light plant, and then a full complement of tools from the showroom floor. You know, one of the highlight pieces is a 2015 Bobcat skid steer. Aaron, it has 27 actual hours on it. They also have a 2015 Bobcat compact excavator – 33 hours on it. You’ll see that the remaining equipment will all be the same vintage and very low hours, if any hours at all. We might mention, Aaron, that this store was opened in May of this year, so a lot of the equipment being offered in the True Value Rental store – much of it has never been out for rent. Those pieces that have, like I mentioned with the skid steer and the excavator – very low hours. In several of the other larger pieces, you’ll see similar hours. Again, as we mentioned, the auction is due to a forced relocation, so they never anticipated when they opened the store in May of this year that they’d be looking at having to close it down. So a very unique opportunity, it’s very seldom that we have the opportunity to sell such late model, current year equipment. Again, some not used at all and those that have been used, very, very low hour. Condition is very good on everything.
Tell me about the Absolute Natural Stone auction. It’s a little different story, both in type and number of items. I see over 700 pieces that will close on Friday, December 4 – the next day, beginning at 10 a.m. What are we selling in this event?
Sure. This is their stone inventory. The proprietors of this business, they’ve been in the landscape stone business for many, many years and opened the rental store in the last year to complement that business. The Absolute Natural Stone side, this is all their landscape rock inventory. There’s actually – they’ll be 720 lots that we’ll be selling, from edging and retaining walls, boulders, moss rocks, native limestone, water features, etcetera, etcetera. So, again, a big offering of their landscape supply – stones and boulders, etcetera.
Occasionally, with auctions that have high piece counts, we change the rate at which items will close. We’re doing that here, aren’t we.
Yes, we are. Now on the True Value Rental side, on December 3, will close at our normal one item per minute, subject to our five minute auto extension feature. On the Absolute Natural Stone side, we will be selling four items per minute. Now, that’s a rapid rate of sale. What we’ve done to help buyers manage their purchases at that rate of sale – we have the inventory broke down by type or categories. We will spread similar inventory, or like-kind inventory – we will spread it throughout the auction so that folks can react in time and get the items they want. I’d also encourage buyers to use our max bid feature. I know so many buyers love the thrill of the last-minute bid and watching the auction online with their finger on the trigger, so to speak – on the mouse. But I would encourage people strongly to use the max bid feature. We joke internally, set it and forget it. Place your bid. The system will only deploy your bid as needed – nothing more, nothing less. I would bid with confidence with that max bid feature and use it to ensure that you don’t miss out on any of the items you want, particularly at that rate of sale of four items per minute.
That sure sounds like a good strategy, to encourage somebody to go through now and get those bids placed so he or she isn’t trying to scramble during what’s sure to be a hectic time as that auction is closing. Unlike many of our events where we might just have one or two days of open inspection, these events have the convenience of being located at a store that has traditional business hours. When can somebody come and take a look at something before placing a bid?
You bet, Aaron. They can look Monday through Friday, 8 a.m. to 5 p.m, and then they also have Saturday hours from 9:30 a.m. to 3 p.m., so no need to call. Just stop by during those times. We have the times listed on our website under that auction – under both auctions. So, again, just stop by any time during those business hours and inspect the items you’d like to look at.
Those are pretty generous inspection times, but if somebody cannot – absolutely cannot make it during those times, we do have contact information up for the seller, don’t we, so that somebody can make a special appointment?
We do have contact number for the seller.
You’re welcome to phone, but I would encourage them to look during those business hours if they can.
Well, tell me about removal. After buyers have made payment to Purple Wave and have invoice in hand, when can they go pick up their purchase?
So it even gets a little more generous, Aaron. They’ll have their standard business hours for pickup, post auction, Monday through Friday, 8:30 a.m. to 5 p.m., and then they’re offering both Saturday and Sunday pickup hours post auction as well. So, on Saturday, December 5, and Saturday, December 12, folks can pick up between 9:30 a.m. and 3 p.m., and then Sunday, December 6, the weekend immediately following the auction and then the following, December 13, Sunday, again, 11 a.m. to 3 p.m.
Will loading assistance be available?
Yes, they will have load-out assistance available to load those heavy boulders and such, they’ll have a forklift and skid steer to load those items out.
I can imagine some fairly large loads of rock and other items from the stone auction, and this being subject to the eminent domain conditions I’m going to guess there’s a pretty hard deadline for removal. When does everything need to be removed from both locations?
Yes, thank you for asking. Time is of the essence. I would encourage buyers, that after you’ve made settlement on your purchases, come as quickly as you can to pick your items up. There is a pickup deadline of December 18. That is the very last day that you can pick up your items. Again, I would encourage folks to pick up early. There is two load-out machines and they’re handling load out, but if everyone waits until the last day, why, that could get very hectic. So, again, like I said, time is of the essence. Get your items picked up as early as you can. Again, December 18 is absolutely the last day that these folks will be there conducting load out, so there is no time after the 18th that one can pick up a purchase. Please, please adhere to that deadline and, again, the earlier the better.
Bob, is there anything else that you want to mention about one or both of these events?
The only thing I’d say, Aaron – over the years, we’ve had the opportunity to sell lots of things. It’s a very rare opportunity – I can’t ever recall in 20 years of being in the auction business that we’ve had the opportunity to sell brand new equipment like this – out of the rental store, I’m speaking specifically. It’s not an everyday occurrence where folks open a store and liquidate the assets in the same year – really within a handful of months from the time they opened. Like I said, the True Value Rental store opened in May of this year and, again, unforeseen loss of the business property to eminent domain – they’re having to sell these assets. So everything is – we could say new, unused, for the most part. Like I said earlier, those pieces that have been out for rent – very low hours, condition very, very good. Gosh, I would encourage folks to look at the inventory. Go out, look at the assets. The business owners are very nice, very accommodating. I think you’d be very pleased at what you see, both in equipment and if you’ve got an upcoming landscape project or if you’re in that line of business and you want to stock some inventory. Lots of product – good diversity on the landscape rock side. I think folks would just be pleased with both offerings here coming up very shortly.
I’ve been speaking with Bob McBride, Purple Wave’s territory manager for Wichita, about the relocation auctions for True Value and Absolute Natural Stone that will close the first week of December. Thanks again, Bob, for joining me this morning.
AT: Bidding for the True Value Rental relocation auction is open now and will close Thursday, December 3, beginning at 1 p.m. The Absolute Natural Stone relocation auction will close Friday, December 4, beginning at 10 a.m. If you’re interested in inspecting the items before bidding, stop by either location during business hours or contact email@example.com to set up an appointment or call 316.260.2100. 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 and place your bids now at purplewave.com.