The Road to Sold: Steffes Auctioneers Inc.

Published on Thu, 11/08/2012 - 1:48pm

While SOLD is the final word at an auction conducted by Steffes Auctioneers, the road to getting to SOLD is a team endeavor and encompasses much more.  At Steffes, we say what we do and do what we say.
Steffes Auctioneers Inc.

Steffes is a nationally recognized leader in the auction industry.  Founded in 1960, this family owned company has been rooted in agriculture, from farm equipment and real estate auctions to hay & livestock sales.  Steffes Auctioneers is a regional company selling to a global market.  With offices in West Fargo, ND, Litchfield, MN, and Mt. Pleasant, IA, it allows Steffes Auctioneers to service clients throughout the Midwest and beyond.   With the addition of their IQBID online bidding website, they have expanded their buyer coverage area to a global market.

The auction company has forged a reputation for the AgIron Consignment Series which started in 1992.  They now host 10 of these events yearly, three each in Wesr Fargo, Litchfield, and Mt. Pleasant, and the most recent addition in Ames, IA. Each of these events typically brings 300 consignors selling close to 1500 lots, and drawing over 2000 registered bidders. Considering that each registered buyer usually brings one or two extra people, the event draws a very substantial crowd.

Steffes Auctioneers conducts approximately 200 plus auctions each year, between live and online only auctions.   Although live farm retirement auctions have been the mainstay of the business, the online auctions are becoming very popular for both sellers and buyers.  Since the early 2000’s Steffes Auctioneers has used online bidding and live webcast to offer buyers the ability to purchase items at auction from the convenience of a home computer. This is once again changing to the convenience of a “Smart Phone” or “Smart Notebook”.  Our IQBID online services include not only monthly online equipment consignments, but also dealer auctions, farm sales, and even online hay sales.

2012 equipment prices have been strong, with fall/winter prices expected to be very aggressive as commodity process and land prices continue to be on the rise. Demand for quality used equipment will remain strong as the price of new equipment continues to rise.  We are seeing Farm Real Estate on the rise in ND, MN and IA and many sellers wanting to move their land while the interest rates are at an all-time low and before the end of the capital gains cycle. 

Because of a major drought in many of the central states, hay prices have also been inflated.  Steffes Auctioneers has been able to provide hay to drought stressed areas because of their ability to match buyer and seller.  Along with their bi-monthly hay sales in which Steffes Auctioneers offers order buying and provides trucking options, they also offer live webcast hay sales with internet bidding through IQBID.  This allows producers to sell hay off the farm without transporting it to our Litchfield auction facility. Hay is offered from throughout the Midwest allowing a reduction in transportation cost to the buyer, as they can potentially find quality hay located closer to home.

Steffes Auctioneers relies on its reputation of honesty and integrity in all aspects of business to meet the needs of both buyer and seller in a rapidly expanding and changing market.  This 50 plus year old company has stayed the course by striving for excellence through innovation and adaptability in the market place.

Yes, SOLD is the final word at our auctions, but getting there with the Steffes Auction Team makes it a very big word indeed!