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Welcome to the sail ring, a podcast dedicated

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to real estate brokers, agents and America as

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top option years that keep the markets moving.

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Join your host, Sean and Tri as they

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talk with most successful realtors, marketing and technology

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investors and influencers.

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Welcome to the sail ring.

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Burt I need to get a rally towel

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that says the silver ring on it, so

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can just yeah yeah.

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It just starts swinging it above my head

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and during that intro.

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That would be hilarious. A rally tail.

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Alright. We'll order those. The sail ring rally

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tails, get yours now. Mh. But not yet.

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We don't have them. Yeah. Don't don't ask

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for any yet.

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Mitch Hill, he is gonna join us in

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the studio. We're gonna talk about equipment in

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auctions,

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equipment sales and get a little market update

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from Mitch. They see

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an not thousands, but hundreds of thousands

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of, dollars,

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millions of dollars, worth of equipment that is

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selling annually and those guys have their finger

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on the pulse of what the truck markets

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are doing, what the tractor markets are doing.

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So,

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sure you hooked up, or are are you

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with us?

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Yeah. Sean, I got. How are you doing,

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brother? I'm doing good.

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It's... We appreciate you taking the time to

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join us. I know you guys are busy

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up there in Nebraska

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at Sand hills right now with everything that

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you have going on.

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But,

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we we genuinely

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appreciate you taking, you know, 20 30 minutes

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to talk with Tri and I today and

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kinda give us a market update, and then

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maybe we dive into auction time,

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tractor house, some of the services and and

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make sure that, our listeners

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understand.

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What what's being available? What's being provided to

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him? Yeah. Oh, absolutely. No. I appreciate you

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bringing on this is always enjoyable.

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A couple times you've done this in the

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past. Tell

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everybody that may be new listening in because

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you've been on the show before, but give

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us give us a little... Brief intro of

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Mitch Alt, who you are, what you do

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and and who you're with? Yeah. No. Absolutely.

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So Yeah. Is as Sean said, like, I'm

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with Seeing those Global. And so San Global,

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the the parent company of of some of

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the brands you're probably familiar with, like tractor

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house, machinery trader truck paper. And then on

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the auction side, we have all auction time

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and equipment fax.

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And so I've been with the company for

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almost 20 years. I started

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started the tractor outside as a rep,

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years ago, working with all the dealers in

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the area and then transitioned

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into taking over our entire

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auction side of the business now, and then

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help on our our financing leg as well.

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And so

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is is kinda Sean

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mentioned earlier, you know, because of, you know,

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our different marketplaces,

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you know,

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you know, he said millions, but we have

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billions,

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of dollars that, that roll through us annually,

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You know, just on the retail side, we

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have, you know, upwards of a hundred and

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50000000000 that transact between the ag construction

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and transportation markets. And so

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all of that goes into, you know, the

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insights and the different tools and, you know,

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datasets sets that we can can look at

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to, you know, really tell you what's happening

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in the market and and, you know, give

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you that insight to

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you know,

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relay relay that to your your cons consumers

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and and make decisions on, you know, what

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is the best approach to liquidate when it

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comes to liquidate and equipment and and what's

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gonna get them the biggest return.

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You know, I had a conversation with an

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auction near the other day, and he had

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during the conversation.

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He said, well, yeah. I I know auction

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time. I've heard of, it's just, you know,

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some of these companies have been around a

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lot longer and

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they they just

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I I think maybe their platform more mature

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than auction time,

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and

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and, you know, because they have a lot

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more buyers, a lot more sellers. And I

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said, Do you actually know who Sand hills

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publishing is? I mean, are you familiar with

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the company?

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Auction time is an online bidding portal that

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they have, but

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And this guy was about my age. Okay?

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So now I'm gonna scroll back to the

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late seventies,

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the the eighties,

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You know, we had a little quick shop

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there in town called the Mini mart, you

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could go into the Mini mart back then

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at any given time, and there's a rack

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right inside the door with

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truck trader, regular trader, tractor trader, magazines, and

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they were free and they were all over

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the country. You know, coast coast. You could

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just Yeah. Go into a restaurant or into

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a quick shop, and pick these magazines up.

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And he goes, yeah. No. I used to

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read those all the time when I was

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kid, and I said, That's auction time. That's

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the same company. Because what?

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And I I like that is Sand hills

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publishing. They've been in the equipment industry. Right?

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Agriculture.

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Heavy construction over the road trucks. They've been

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doing that stuff forever,

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you know? And

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So this this vision that you have is

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like, well, I think they're doing great, but,

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you know, they kinda just emerged in the

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last 10 years. No. They were the runner.

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They they were the company that set the

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pace for everybody else. Yeah. Yeah. It's kinda

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funny bring up the print like that because...

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You know, print is still a huge part

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of our business. Mh. And, you know, the

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the media in general, you know, purchase portrays

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purchase portrays, you know, print to be dead.

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And, you know, in in our industry, like,

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with trade public

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publications, it's still flourishing in our in our

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distribution,

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keeps increasing on a on a weekly monthly

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basis. And so, you know, it's it's changed

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a little bit where, you know, people, yeah.

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They are still buying, but it's turned into

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more of a physical search engine. And so

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the more that we print and the more,

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like, distribution we get out it, those places

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you mentioned, like, the, you know, the truck

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stops and the feed stores, gas stations places

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like that,

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you know, where our buyer base is visiting,

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the more web traffic we have. And so

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it ultimately drives people to the Internet, you

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know, on the places like tractor house, you

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know, truck paper, machine trader auction time, you

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know, to go look at more equipment, and,

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in turn, you know,

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drives that people to the to, you know,

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your exposure and when you are having an

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auction on auction time. And so it it

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this print world really works full circle with

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the web and is still, you know, very,

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very valid, you know, and why we, you

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know, print millions of publications on a, on

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a weekly basis. Well, I think very valid

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the right way to say it because nothing

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transitions like a light switch. Right? It's not

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like, okay. Well, next Tuesday,

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nobody's listening to radio anymore, Yeah. Everybody's gonna

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move over to

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and end into videos.

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But Radio is gonna shut off and not

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and be non existent next Tuesday. Right? It

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doesn't work like that.

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So

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as people

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transition and you shepherd them over, right, to

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your right websites and web technologies and you're

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you're delivering, you know, the the resources and

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and the marketing

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through a different venue

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there are still people in non Urban America

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and in Urban America that pick up print

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marketing

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and read it because that's what they've done

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for 30 years.

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And Yeah,

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I I think it's still gonna be very

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relevant. It's gonna

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transition over time. Yes. We're definitely headed that

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direction, but you can't cut off your left

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arm just because you have a right arm

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now. You. Know. You you gotta keep both.

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Well... Yeah. Unless I 1 arm out there

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that I've... I apologize for that analogy, but

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you... But you understand what I'm saying is,

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it it doesn't make sense to just cut

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off that that That type of marketing Yeah.

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In print and and say, well, we're just

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a hundred percent on the web now.

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And the inverse of that is, if you

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go to most with these large auction companies

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that are now online, you know, they're having

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online sales and say, hey, how long you've

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you been around? Well, we started the seventies

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Like, well, let's go back to 19 70.

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What's your website look like?

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Well, we didn't have a website. Right? Yeah.

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That's because we're transitioning over to something different.

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You're still a great company. But you still

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gotta offer, you know, for your print reading

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clients out there. You you still have to

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have, something to shepherd them oh, or to

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your online technology?

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Yeah. You're you're totally spot on. You know,

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it it... It does... It it drives people

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to the Internet and to their websites and

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know, I know I mentioned it, but it

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does bring, it kinda of full circle, you

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know, back to where they're probably gonna buy.

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Because technology has changes so much where, you

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you know, with with them driving from print

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to the Internet. They... It's so easy to

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look at, you know,

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we go back even, like, 5, 6 years

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ago, You know, you know, to have 20

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pictures on a listing. That was a big

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deal. Now we're seeing listings, you know, with

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a hundred pictures and there's videos and there's

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3 6... See.

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You know, spin

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views on it and, you know, there's there's

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so much more added benefit to, you know,

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build buyer confidence when you can get them

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online, but it's it's driving them there. Right?

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It's getting in there. For sure. The other

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byproduct that's came out of,

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technology

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is the ability to

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compress data to bring data in and and

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to look at it,

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in sales and in market trends. Mh. You

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know, coast coast by state by county, by

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different

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equipment types and I'd like to get into

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that portion of the conversation with you because

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I think that is maybe 1 of the

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strong suits of a company, like auction time,

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tractor house where... Sand hills as a parent

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company is you sell

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and move so much equipment in the marketplace

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that you get a really good glimpse to

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What's,

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what's not, you know, which regions are working

268
00:09:35,684 --> 00:09:38,075
and what equipments working in different parts of

269
00:09:38,075 --> 00:09:38,553
the country?

270
00:09:39,589 --> 00:09:41,660
Yeah. No spot on. You know, in the...

271
00:09:41,820 --> 00:09:43,349
And we're kind of in a unique time

272
00:09:43,349 --> 00:09:44,944
in the market right now just as a

273
00:09:44,944 --> 00:09:45,183
whole,

274
00:09:45,901 --> 00:09:48,054
you know, as we're we're kinda... We're getting

275
00:09:48,054 --> 00:09:50,686
past the, you know, post pandemic, you know,

276
00:09:50,925 --> 00:09:52,361
you know, what what are we 4 4

277
00:09:52,361 --> 00:09:54,524
and a half 4 years past it just

278
00:09:54,524 --> 00:09:56,752
over 4, you know, since March of 20

279
00:09:56,752 --> 00:09:58,342
when it hit. But, you know, a lot

280
00:09:58,342 --> 00:10:00,013
happier... Katrina is in here cough and while

281
00:10:00,013 --> 00:10:01,779
you say that. So I don't know maybe

282
00:10:01,779 --> 00:10:03,937
it's kinda... Maybe it's coming back right now.

283
00:10:04,816 --> 00:10:05,055
Yeah.

284
00:10:05,694 --> 00:10:08,092
But that... But like, that market that market

285
00:10:08,092 --> 00:10:09,610
data, you know, I I spend a lot

286
00:10:09,610 --> 00:10:11,541
of money to... Time, you know, helping, you

287
00:10:11,541 --> 00:10:13,296
know, my my reps that work with auction

288
00:10:13,296 --> 00:10:14,972
years. You know, 1 of the things I

289
00:10:14,972 --> 00:10:16,489
love most is is helping them, you know,

290
00:10:16,728 --> 00:10:19,690
close deals and and and getting consignment, getting,

291
00:10:19,928 --> 00:10:21,517
you know, getting more equipment for them to

292
00:10:21,517 --> 00:10:23,582
sell and and I think that market data,

293
00:10:23,900 --> 00:10:25,250
you know, that's the number 1 thing I

294
00:10:25,250 --> 00:10:27,334
like to explain is is looking at the

295
00:10:27,334 --> 00:10:28,692
first thing I like to explain is looking

296
00:10:28,692 --> 00:10:29,512
at the broad

297
00:10:30,131 --> 00:10:31,889
overview of of what's happening in the market.

298
00:10:32,049 --> 00:10:33,428
So then you can figure out

299
00:10:34,047 --> 00:10:36,125
you know, what what makes the most sense.

300
00:10:36,379 --> 00:10:39,093
To liquidate this... The assets for the biggest

301
00:10:39,093 --> 00:10:39,492
return. And,

302
00:10:40,290 --> 00:10:41,967
you know, right now, you know, we... In

303
00:10:41,967 --> 00:10:45,021
in pretty much March of 22

304
00:10:46,130 --> 00:10:48,600
that was the that was the lowest inventory

305
00:10:48,600 --> 00:10:49,317
levels were,

306
00:10:50,034 --> 00:10:51,547
because when when the pandemic hit,

307
00:10:52,264 --> 00:10:54,549
inventory fell off a cliff because new production

308
00:10:54,589 --> 00:10:56,987
you know, came to a halt. Right. And

309
00:10:56,987 --> 00:11:00,503
used inventory just kept diving. Nose diving. And

310
00:11:01,222 --> 00:11:04,189
between ag construction and transportation, you March of,

311
00:11:04,825 --> 00:11:07,290
22 was was the pivot point where we

312
00:11:07,290 --> 00:11:09,755
hit pretty much the lowest levels that we've

313
00:11:09,755 --> 00:11:11,982
seen, you know, in decades in the in

314
00:11:11,982 --> 00:11:12,721
the use

315
00:11:13,747 --> 00:11:14,305
inventory market.

316
00:11:15,341 --> 00:11:17,094
Trucks was the first 1 to react,

317
00:11:18,448 --> 00:11:20,679
you know, when inventory levels, you know, hit

318
00:11:20,679 --> 00:11:23,485
low and and started their upward trend. Truck

319
00:11:23,485 --> 00:11:25,184
values reacted immediately

320
00:11:25,644 --> 00:11:28,125
to that, and prices started nose diving.

321
00:11:29,004 --> 00:11:31,256
You know, we fallen pretty much, all the

322
00:11:31,256 --> 00:11:33,086
way back down to what we'd say is

323
00:11:33,086 --> 00:11:34,916
a is somewhat of a normal level now...

324
00:11:35,313 --> 00:11:37,063
Or there's not as much volatility in the

325
00:11:37,063 --> 00:11:37,302
market.

326
00:11:38,434 --> 00:11:40,751
And so... But what the segment that it

327
00:11:40,751 --> 00:11:42,669
does have the volatility right now is the

328
00:11:42,669 --> 00:11:45,465
ag sector. Mh. And that's what's getting hit

329
00:11:45,465 --> 00:11:48,135
pretty hard. And it's and it's driven by

330
00:11:48,353 --> 00:11:51,543
late model, you, you're you're, you know, 1

331
00:11:51,543 --> 00:11:53,059
to 2 to 3 year old, you know,

332
00:11:53,219 --> 00:11:55,053
units out there that are stacking up on

333
00:11:55,053 --> 00:11:57,935
dealers lots and And, when those things aren't

334
00:11:57,935 --> 00:11:59,605
moving, you know, the the the cost of

335
00:11:59,605 --> 00:12:00,821
those machines and

336
00:12:01,196 --> 00:12:02,866
these days is is so high.

337
00:12:03,679 --> 00:12:05,600
The auction market is is getting hit, you

338
00:12:05,600 --> 00:12:07,919
know, pretty heavily. But those price... You know,

339
00:12:08,080 --> 00:12:09,679
those those units, you know, they needed to

340
00:12:09,679 --> 00:12:11,815
come down because their prices were inflated, but

341
00:12:12,492 --> 00:12:13,848
you know, that market right now is the

342
00:12:13,848 --> 00:12:15,363
1 that's that's correcting the most.

343
00:12:17,596 --> 00:12:19,749
What do you think driving that? What do

344
00:12:19,749 --> 00:12:22,495
are you think? Inventory levels? Yeah. Yeah. So

345
00:12:22,631 --> 00:12:24,620
supply and demand. Right? Too much supply out

346
00:12:24,620 --> 00:12:27,326
there. Yeah. There just too many choices to

347
00:12:27,326 --> 00:12:29,554
look at. How's the interest rates affecting that

348
00:12:29,634 --> 00:12:29,793
Mitch.

349
00:12:30,524 --> 00:12:31,956
I, you. I think you got... Well interest

350
00:12:31,956 --> 00:12:33,865
rates is a huge is a huge problem

351
00:12:33,865 --> 00:12:35,854
out there. You know, it's hard to find

352
00:12:35,854 --> 00:12:38,416
financing. You know, you're you're you're... Guys with

353
00:12:38,416 --> 00:12:40,566
really good credit, you know, they're they're gonna,

354
00:12:40,726 --> 00:12:42,239
you know, be in that, you know, 7

355
00:12:42,239 --> 00:12:44,093
to 8 percent. But if you if you

356
00:12:44,389 --> 00:12:45,664
venture off a little bit from there, you

357
00:12:45,664 --> 00:12:48,008
know, it goes up, from there. And so

358
00:12:48,302 --> 00:12:50,049
you you factor in interest rates and you

359
00:12:50,049 --> 00:12:50,788
factor in

360
00:12:51,797 --> 00:12:53,941
commodity prices on top of that. And a

361
00:12:53,941 --> 00:12:56,220
lot of these guys have upgraded and bought

362
00:12:56,339 --> 00:12:58,259
in the last, you know, several years,

363
00:12:59,139 --> 00:13:01,539
you know, people are are holding tight, especially,

364
00:13:01,620 --> 00:13:03,379
you know, farmers are, you know, smart with

365
00:13:03,379 --> 00:13:05,070
their money. But I I think 1 of

366
00:13:05,070 --> 00:13:07,059
the big driving factors, and I don't I

367
00:13:07,059 --> 00:13:08,811
don't know if it gets talked about enough,

368
00:13:08,970 --> 00:13:10,903
and and I don't have any any background

369
00:13:10,960 --> 00:13:12,645
info on this. But, like, You know, the

370
00:13:12,645 --> 00:13:15,105
size of the machines these days, even when

371
00:13:15,105 --> 00:13:16,455
you go back, you know, to the the

372
00:13:16,455 --> 00:13:18,995
last cycle and, you know, 16 17 when

373
00:13:18,995 --> 00:13:19,947
we when we had a little bit of

374
00:13:19,947 --> 00:13:22,268
a downturn. But, The size of these machines

375
00:13:22,268 --> 00:13:23,961
are so big. And

376
00:13:24,814 --> 00:13:27,202
you know, we were looking at class 678

377
00:13:27,202 --> 00:13:28,793
combines back then, and now we're, you know,

378
00:13:28,953 --> 00:13:31,834
09:10 11, we're were big... Combines with big

379
00:13:31,834 --> 00:13:32,312
capacity.

380
00:13:33,506 --> 00:13:35,896
And, you know, it's like, is it's... Who

381
00:13:35,896 --> 00:13:38,206
is the second buyer for these big machines?

382
00:13:38,604 --> 00:13:38,764
Yeah.

383
00:13:39,894 --> 00:13:41,408
And so, you know, there's only so many

384
00:13:41,408 --> 00:13:43,241
huge farmers out there and we keep pumping

385
00:13:43,241 --> 00:13:45,711
out really really big, you know, units on

386
00:13:45,711 --> 00:13:47,718
a on a yearly basis. And so you

387
00:13:47,718 --> 00:13:49,307
know, where is the appetite for those,

388
00:13:49,943 --> 00:13:51,611
you know, those 1 to 2, 3 year

389
00:13:51,611 --> 00:13:53,677
old machines that, you know, are coming, you

390
00:13:53,677 --> 00:13:55,664
know, good hours, you know, good use machines,

391
00:13:55,902 --> 00:13:58,069
but, you you know, and there's still new

392
00:13:58,069 --> 00:13:59,744
incentives out there and people are still buying

393
00:13:59,744 --> 00:14:01,818
new, but, not everyone needs

394
00:14:02,456 --> 00:14:04,849
needs as big machines that are are hitting

395
00:14:04,849 --> 00:14:06,259
this used market. And I think that's what

396
00:14:06,379 --> 00:14:07,174
causing a lot of this,

397
00:14:07,970 --> 00:14:09,958
on top of the interest rates and and

398
00:14:09,958 --> 00:14:12,424
commodity prices at units just stacking up right

399
00:14:12,424 --> 00:14:14,822
now. I think in the farm sector, you

400
00:14:14,822 --> 00:14:17,362
know, we had this conversation yesterday with some

401
00:14:17,362 --> 00:14:18,314
people, and

402
00:14:19,029 --> 00:14:21,108
there was a lot of loans that we're

403
00:14:21,108 --> 00:14:23,178
taken out 3 to 5 years ago that

404
00:14:23,178 --> 00:14:25,407
were adjustable rate interest loans that had a

405
00:14:25,407 --> 00:14:27,476
balloon on. Those balloons are now coming due.

406
00:14:27,715 --> 00:14:28,192
Mh.

407
00:14:28,750 --> 00:14:30,762
We're you know, they're 3 to 4... Or...

408
00:14:31,082 --> 00:14:33,639
Excuse me, 3 to 5 year arm loans

409
00:14:33,639 --> 00:14:36,116
that are now or 3 to 5 years

410
00:14:36,515 --> 00:14:36,995
from,

411
00:14:37,646 --> 00:14:40,193
the the inception of those loans and now

412
00:14:40,193 --> 00:14:41,865
that they're coming due, They're looking at, you

413
00:14:41,865 --> 00:14:43,456
know, 7 percent interest rates,

414
00:14:45,224 --> 00:14:46,820
they they don't have the cash flow to

415
00:14:46,820 --> 00:14:49,135
cover those. So I think that there's going

416
00:14:49,135 --> 00:14:49,795
to be

417
00:14:50,173 --> 00:14:53,046
some transition, you know, and some tightening in

418
00:14:53,046 --> 00:14:55,631
those Ag mark. Gets unless we can see

419
00:14:56,560 --> 00:14:58,887
loan rates start to adjust. And

420
00:14:59,578 --> 00:15:01,484
this gonna sound crazy, but, you know, you

421
00:15:01,484 --> 00:15:02,993
go back and look at a 40 year

422
00:15:02,993 --> 00:15:06,260
look. Gets The average loan interest rate. The

423
00:15:06,260 --> 00:15:09,194
average lending interest rate was 6 to 7

424
00:15:09,194 --> 00:15:11,256
percent. Yeah. My first 2 houses were both.

425
00:15:11,589 --> 00:15:14,461
Yeah. 7 percent loans. So it's not disproportionate,

426
00:15:14,540 --> 00:15:16,375
you know, right now, Mitch in and Tri,

427
00:15:16,454 --> 00:15:20,044
it's not disproportionate that where the the lending

428
00:15:20,044 --> 00:15:23,093
rate is maybe at. Is let's argue that's

429
00:15:23,093 --> 00:15:24,291
pretty close to where it needs to be.

430
00:15:24,611 --> 00:15:26,209
Mh. But he had dropped down to 2

431
00:15:26,209 --> 00:15:28,366
and 3 percent, and a lot of loans

432
00:15:28,366 --> 00:15:30,539
were made at that time and they were

433
00:15:30,539 --> 00:15:32,697
doing it based on their cash flow projections.

434
00:15:33,176 --> 00:15:36,293
Yep. Okay. Today, those interest rates have corrected.

435
00:15:36,453 --> 00:15:38,451
They've went back to kind they've normalized, I

436
00:15:38,451 --> 00:15:39,730
guess, would be a way to say it.

437
00:15:41,731 --> 00:15:43,797
They weren't prepared for that. Yeah. Yeah. And

438
00:15:43,797 --> 00:15:45,465
they say we don't have enough cash flow

439
00:15:45,465 --> 00:15:47,768
to cover that interest rate with this balloon

440
00:15:47,768 --> 00:15:49,119
if we have to refinance. Yeah.

441
00:15:49,929 --> 00:15:51,923
And then tack on the the cost of

442
00:15:51,923 --> 00:15:54,177
machines these days too. And if 5 either

443
00:15:54,236 --> 00:15:56,309
a 3 to 5 year inflation cost and

444
00:15:56,309 --> 00:15:59,260
the machines inflation in and everything. Yes. Yeah.

445
00:15:59,594 --> 00:16:01,592
You know, cost of entry, you know, since

446
00:16:01,592 --> 00:16:03,670
the pandemic is up, like, you know, for

447
00:16:03,670 --> 00:16:05,828
a new machine, like, almost 30 percent, Know,

448
00:16:05,908 --> 00:16:07,426
on a lot of these assets. And so,

449
00:16:08,465 --> 00:16:08,785
you know,

450
00:16:09,679 --> 00:16:11,917
You know, a 600000 dollar combine now is

451
00:16:11,917 --> 00:16:14,394
is 900000 to a million bucks. Yeah. Know,

452
00:16:14,474 --> 00:16:16,792
you got planter same way. They're they're so...

453
00:16:16,951 --> 00:16:18,230
Things are so expensive.

454
00:16:20,387 --> 00:16:23,002
We've got the popular categories on auction time

455
00:16:23,002 --> 00:16:24,666
up on the screen on the big screen

456
00:16:24,666 --> 00:16:25,830
right now, and then

457
00:16:26,267 --> 00:16:27,859
I think if you click on all categories,

458
00:16:28,097 --> 00:16:29,530
there's a ton of them in there. You've

459
00:16:29,530 --> 00:16:30,666
really dissect

460
00:16:31,121 --> 00:16:32,156
the equipment,

461
00:16:32,633 --> 00:16:34,941
the asset classes and types and there too.

462
00:16:35,592 --> 00:16:37,842
Specifically what somebody wants to look at

463
00:16:38,217 --> 00:16:40,683
or look for. Even in the truck market,

464
00:16:40,842 --> 00:16:42,369
there's 1234

465
00:16:42,369 --> 00:16:44,623
or 5, There's 5 different categories

466
00:16:45,001 --> 00:16:46,458
under the popular categories,

467
00:16:46,995 --> 00:16:49,307
probably more under all categories. So

468
00:16:50,504 --> 00:16:52,353
where I'm going with that is 4 talk

469
00:16:52,353 --> 00:16:53,890
to us a little bit

470
00:16:54,507 --> 00:16:57,857
about that platform, and I think the uniqueness,

471
00:17:00,010 --> 00:17:01,446
actually, before we get into that,

472
00:17:02,178 --> 00:17:04,248
I'm gonna backup up. Tell us kind of,

473
00:17:05,522 --> 00:17:07,354
what's moving really well right now. I don't

474
00:17:07,354 --> 00:17:09,663
wanna move off this market watch update until

475
00:17:09,663 --> 00:17:09,822
we...

476
00:17:10,554 --> 00:17:12,394
Just kinda give us the highlights. Like, if

477
00:17:12,554 --> 00:17:14,234
I was gonna list to equipment right now,

478
00:17:14,394 --> 00:17:16,554
what's the what's the setting ducks out here

479
00:17:16,554 --> 00:17:17,994
that that are moving well?

480
00:17:19,208 --> 00:17:20,480
You know what to be out... Like I

481
00:17:20,559 --> 00:17:22,229
I it's it's kind of a...

482
00:17:23,342 --> 00:17:25,012
It's kind of a tough question because, like,

483
00:17:25,648 --> 00:17:27,491
we're seeing it across the board, like, everything

484
00:17:27,491 --> 00:17:29,397
is moving, but it's all based on what

485
00:17:29,397 --> 00:17:32,256
your what your expectations and where you're pricing

486
00:17:32,256 --> 00:17:34,797
those units at. Right? Do, you know, if

487
00:17:34,797 --> 00:17:36,440
if you're an auction year and you're... Everything

488
00:17:36,639 --> 00:17:38,154
and you're really in tune, you know, for

489
00:17:38,154 --> 00:17:40,228
a seller, and you you you understand that,

490
00:17:40,307 --> 00:17:42,381
you know, auction price is true market price.

491
00:17:42,940 --> 00:17:45,252
And your price and something, let's say you

492
00:17:45,252 --> 00:17:47,745
are gonna use our our method to retail

493
00:17:47,745 --> 00:17:50,225
the wholesale the auctions something and give that

494
00:17:50,225 --> 00:17:53,345
guy an opportunity to, you know, retail it

495
00:17:53,345 --> 00:17:55,219
for period of time and end up cascading

496
00:17:55,357 --> 00:17:56,873
to an auction if it doesn't sell. If

497
00:17:56,873 --> 00:17:59,506
we if we price anything at 10 to

498
00:17:59,506 --> 00:18:02,314
15 percent over auction priced you know, it's

499
00:18:02,314 --> 00:18:05,350
probably going to move fairly quick because dealer

500
00:18:05,350 --> 00:18:07,986
pricing is is substantially higher because they traded

501
00:18:07,986 --> 00:18:09,915
on that in a time that, you know,

502
00:18:10,153 --> 00:18:12,373
values were higher because we're we're falling so

503
00:18:12,373 --> 00:18:15,148
quick, like in in ag right now. And

504
00:18:15,148 --> 00:18:15,624
so

505
00:18:16,099 --> 00:18:18,338
the, you know, the, So it it it

506
00:18:18,338 --> 00:18:20,804
really kinda depends, you know, where where you're

507
00:18:20,804 --> 00:18:22,952
pricing that stuff as as far as how

508
00:18:22,952 --> 00:18:24,799
quick it's gonna move. You know that... The

509
00:18:24,799 --> 00:18:26,480
construction yellow iron. I know we haven't touched

510
00:18:26,480 --> 00:18:27,519
on that yet, but,

511
00:18:28,079 --> 00:18:30,159
we're we're really starting to show signs of

512
00:18:30,159 --> 00:18:32,295
of inventory levels climbing and really

513
00:18:32,809 --> 00:18:34,790
taking that upward turn right now. So that

514
00:18:34,790 --> 00:18:36,375
market's is gonna continue to soften.

515
00:18:37,088 --> 00:18:39,148
That retail and auction gap is widening,

516
00:18:39,719 --> 00:18:41,789
And so it is showing some more volatility.

517
00:18:41,948 --> 00:18:42,448
But

518
00:18:43,222 --> 00:18:45,212
you know, using the tools out there to

519
00:18:45,212 --> 00:18:47,601
really understand what auction price is today.

520
00:18:48,252 --> 00:18:49,286
And, you know,

521
00:18:50,160 --> 00:18:52,146
figuring out how quick the market is moving

522
00:18:52,146 --> 00:18:54,688
whether it's up or down is and determine

523
00:18:54,688 --> 00:18:56,357
how quick we need to move that is

524
00:18:56,357 --> 00:18:58,281
is the unit's gonna sell and it's gonna

525
00:18:58,281 --> 00:19:00,587
bring close to that. It's just, you know,

526
00:19:00,747 --> 00:19:03,292
how, you know, what the asset is, and

527
00:19:03,292 --> 00:19:05,452
and it how quick we're gonna look at

528
00:19:05,452 --> 00:19:08,074
some of that. Mitch is the construction markets,

529
00:19:08,233 --> 00:19:10,855
their construction equipment is it still early enough.

530
00:19:11,029 --> 00:19:13,104
In the game that if somebody's thinking about

531
00:19:13,104 --> 00:19:15,498
dives and so that they need to get

532
00:19:15,498 --> 00:19:16,855
it out there on the market right now.

533
00:19:17,094 --> 00:19:18,312
You said it may be softening

534
00:19:18,770 --> 00:19:20,704
from you know, based on on some things

535
00:19:20,704 --> 00:19:23,105
some factors and and possible trends you're seeing,

536
00:19:23,744 --> 00:19:26,224
in the future. But, you. Is it a

537
00:19:26,224 --> 00:19:27,744
good time to get that stuff out there

538
00:19:27,744 --> 00:19:29,436
right now is market still pretty fat.

539
00:19:30,234 --> 00:19:32,148
Yeah. I I would advise you to... If

540
00:19:32,148 --> 00:19:34,062
you got something you're looking to sell, look

541
00:19:34,062 --> 00:19:36,455
to, you know, let's start those conversations, you

542
00:19:36,455 --> 00:19:37,572
know, sooner than later.

543
00:19:38,623 --> 00:19:40,611
We've seen the the the medium duty cutting,

544
00:19:40,769 --> 00:19:42,916
like, your skid series as mini exporters back

545
00:19:42,916 --> 00:19:43,393
some of that,

546
00:19:44,427 --> 00:19:46,470
kind of more mid midsize equipment. You know

547
00:19:47,065 --> 00:19:48,811
that's been correcting for a little while. Skid

548
00:19:48,811 --> 00:19:51,113
gears right now, there's a record amount of

549
00:19:51,113 --> 00:19:52,882
inventory out there on the market. And so

550
00:19:53,573 --> 00:19:56,365
that's that's really softened, you know, pretty substantially.

551
00:19:56,603 --> 00:19:58,349
Now, we're starting to see it on your

552
00:19:58,349 --> 00:20:00,968
bigger units, your ex do, you know, wheel

553
00:20:00,968 --> 00:20:03,375
loader. That's the market that, you know, the

554
00:20:03,375 --> 00:20:05,610
higher price units is starting to starting to

555
00:20:05,610 --> 00:20:07,446
correct. So, yeah, if you do... If you're

556
00:20:07,446 --> 00:20:08,484
looking to sell something,

557
00:20:09,122 --> 00:20:10,654
you know, you are gonna get a... You

558
00:20:10,654 --> 00:20:12,172
know, auction price today

559
00:20:12,572 --> 00:20:14,670
is going to be a retail price in

560
00:20:14,889 --> 00:20:15,768
potentially a few months.

561
00:20:16,327 --> 00:20:16,827
So

562
00:20:17,366 --> 00:20:19,535
you know, it's something to, you know, keep

563
00:20:19,535 --> 00:20:20,967
at the back of your mind there.

564
00:20:23,830 --> 00:20:26,334
Tell your friends, you get your information. Changed

565
00:20:26,392 --> 00:20:27,610
on the Za ring.

566
00:20:31,096 --> 00:20:33,328
So let's talk about the benefits right now

567
00:20:33,328 --> 00:20:35,889
of the platt. Form itself. And I think

568
00:20:35,889 --> 00:20:37,979
1 thing that's happened in the industry

569
00:20:38,353 --> 00:20:38,671
that,

570
00:20:39,307 --> 00:20:41,135
away from, you know, what the markets are,

571
00:20:41,294 --> 00:20:43,494
things we talked about is the way form

572
00:20:43,694 --> 00:20:45,047
that we're selling equipment.

573
00:20:45,764 --> 00:20:46,799
There are still yards.

574
00:20:47,675 --> 00:20:50,541
What we call auction yards or equipment yards

575
00:20:50,541 --> 00:20:52,545
in the industry where You have

576
00:20:53,101 --> 00:20:53,601
consolidated

577
00:20:53,975 --> 00:20:56,516
consignment sales and people are bringing that in

578
00:20:56,516 --> 00:20:57,493
and having large

579
00:20:58,025 --> 00:20:58,502
disposition sales.

580
00:20:59,217 --> 00:20:59,852
But today,

581
00:21:00,424 --> 00:21:02,260
for the guy that wants to sell a

582
00:21:02,260 --> 00:21:04,197
full line of equipment or

583
00:21:04,654 --> 00:21:07,768
3 pieces or 1 1 truck, 1 combine,

584
00:21:08,007 --> 00:21:08,566
1 tractor,

585
00:21:09,298 --> 00:21:10,354
this platform

586
00:21:10,965 --> 00:21:13,982
allows them to participate in a much, much

587
00:21:13,982 --> 00:21:17,317
larger cell with incremental pieces. They can drop

588
00:21:17,317 --> 00:21:20,830
those in. You're closing sales every Wednesday, which

589
00:21:20,990 --> 00:21:23,695
I I think you're conditioning, you know, equipment

590
00:21:23,695 --> 00:21:25,684
buyers, Hey, If you're looking for something next

591
00:21:25,764 --> 00:21:27,117
Wednesday, we have another sale.

592
00:21:27,848 --> 00:21:30,314
And there's thousands of pieces of equipment from

593
00:21:30,314 --> 00:21:31,905
across the Us go and and look at

594
00:21:31,905 --> 00:21:32,461
it. Yeah.

595
00:21:33,496 --> 00:21:36,002
Yeah. That's just a. I think that's gonna

596
00:21:36,140 --> 00:21:38,773
revolutionize, you know, the equipment industry over time

597
00:21:38,773 --> 00:21:40,688
because what's the number 1 thing that people

598
00:21:40,688 --> 00:21:40,847
want,

599
00:21:42,299 --> 00:21:45,814
sometimes even above price is convenience. Yeah. I

600
00:21:45,814 --> 00:21:47,572
can just go in there on my mobile

601
00:21:47,572 --> 00:21:50,221
device or my computer and I can... Purchase

602
00:21:50,221 --> 00:21:52,132
equipment and have it chipped to my doorstep.

603
00:21:53,247 --> 00:21:55,418
Yeah. You know, you're spot on, and and

604
00:21:55,476 --> 00:21:57,307
the convenience is a big thing and, you

605
00:21:57,307 --> 00:22:00,108
know. The pandemic, like, really kind of, you

606
00:22:00,108 --> 00:22:00,267
know,

607
00:22:00,984 --> 00:22:01,143
it...

608
00:22:02,178 --> 00:22:04,009
It it evolved this in this by... You

609
00:22:04,009 --> 00:22:06,254
know, the buying habits of of you know,

610
00:22:06,334 --> 00:22:08,089
the people actually buying and and built... You

611
00:22:08,089 --> 00:22:10,164
know, they have more confidence of buying sight

612
00:22:10,164 --> 00:22:12,180
scene, and, you know, they were forced to

613
00:22:12,717 --> 00:22:14,809
you know, use the Internet, because there were

614
00:22:14,809 --> 00:22:17,049
no physical sales. Everything got shut down there

615
00:22:17,049 --> 00:22:19,049
for, you know, for, you know, quite a

616
00:22:19,049 --> 00:22:20,570
bit of time, you know, as a whole.

617
00:22:20,809 --> 00:22:23,141
And so you know, using their using their

618
00:22:23,141 --> 00:22:25,296
phones, you know, 75 percent of our traffic

619
00:22:25,296 --> 00:22:27,211
is from a phone, you know, versus a

620
00:22:27,211 --> 00:22:29,685
computer, and that keeps that keeps growing,

621
00:22:30,338 --> 00:22:30,974
And so

622
00:22:31,531 --> 00:22:33,519
you know... Yeah. The convenience side of it

623
00:22:33,519 --> 00:22:36,619
is is is huge. And, you know, and

624
00:22:36,619 --> 00:22:37,971
you hit on a very good thing, you

625
00:22:37,971 --> 00:22:39,800
know, with with using the auction time platform.

626
00:22:39,973 --> 00:22:41,639
Form. Whether you have 1 piece or you

627
00:22:41,639 --> 00:22:42,987
have a, you know, complete, you know,

628
00:22:43,701 --> 00:22:45,842
farm close out sale or, you know, contractor

629
00:22:45,842 --> 00:22:47,799
or liquidation or whatever it may be form

630
00:22:48,239 --> 00:22:49,917
you you can join up on a on

631
00:22:49,917 --> 00:22:52,074
a on a Wednesday sale that we have,

632
00:22:52,393 --> 00:22:53,991
you know, and we have thousands of pieces,

633
00:22:54,151 --> 00:22:57,116
you know, sell. So you're... It's still your

634
00:22:57,116 --> 00:22:59,265
own event. It's still your, you know, you're

635
00:22:59,265 --> 00:23:01,096
selling for that customer. It's under your name.

636
00:23:01,335 --> 00:23:03,979
It's still... Everything remains the same, But you're

637
00:23:03,979 --> 00:23:06,214
part of a bigger event. As a whole

638
00:23:06,214 --> 00:23:09,087
which is, more eyeballs and and, you know,

639
00:23:09,247 --> 00:23:11,721
more, you know, potential buyers, you know, looking

640
00:23:11,721 --> 00:23:14,055
at that equipment. Then you can showcase it.

641
00:23:14,295 --> 00:23:16,375
There's ways to up upsell that equipment, you

642
00:23:16,375 --> 00:23:17,335
know, you can,

643
00:23:17,894 --> 00:23:20,855
call it out in the upcoming magazine, so

644
00:23:20,855 --> 00:23:21,515
you're circulating...

645
00:23:21,829 --> 00:23:24,461
Next auction of upcoming equipment, you can buy

646
00:23:24,461 --> 00:23:25,259
ad space in there.

647
00:23:26,774 --> 00:23:29,565
You can do videos. You're basically become the

648
00:23:29,565 --> 00:23:31,080
eyes and ears for the buyer,

649
00:23:31,653 --> 00:23:33,880
on the ground, it comes down to the

650
00:23:33,880 --> 00:23:34,380
quality

651
00:23:34,754 --> 00:23:38,332
of photos and videos and description and the

652
00:23:38,332 --> 00:23:42,562
confidence that you're instill in buyers or potential

653
00:23:42,562 --> 00:23:45,028
buyers of that piece of equipment by... It's

654
00:23:45,028 --> 00:23:46,539
still hard work. You still gotta go out

655
00:23:46,539 --> 00:23:48,289
and put in the work to get a

656
00:23:48,289 --> 00:23:50,372
good product, in, And I I think there's

657
00:23:50,372 --> 00:23:51,428
some auction companies

658
00:23:51,801 --> 00:23:55,453
and specific auction that stand out. Even in

659
00:23:55,453 --> 00:23:58,152
this system, you see they consistently do a

660
00:23:58,152 --> 00:23:58,787
better job.

661
00:23:59,359 --> 00:24:01,680
Of marketing themselves and their and their product.

662
00:24:01,920 --> 00:24:04,799
Yeah. Yeah. Hands down. Hundred percent. Yeah. No.

663
00:24:05,039 --> 00:24:06,880
You're... You there again, you're you're spot on,

664
00:24:07,039 --> 00:24:08,880
you know, the representation of a piece of

665
00:24:08,880 --> 00:24:12,325
a equipment is, you know, it is pans

666
00:24:12,325 --> 00:24:14,160
down number 1. Like, I... You know, I

667
00:24:14,160 --> 00:24:16,888
kinda joke around sometimes, but, like, pictures is

668
00:24:16,888 --> 00:24:20,000
the most important thing. First impression, videos is

669
00:24:20,000 --> 00:24:22,794
number 2. You know, I I not... I

670
00:24:22,794 --> 00:24:24,310
don't have any proof on this, but, like,

671
00:24:24,724 --> 00:24:27,434
I think very few people read anymore. Like,

672
00:24:27,673 --> 00:24:29,268
some of that description. Yeah. Like, if it's

673
00:24:29,268 --> 00:24:30,942
it's a... You know, they they put a

674
00:24:30,942 --> 00:24:32,935
lot of trust in that representation, the picture.

675
00:24:33,189 --> 00:24:34,382
And part of that is that, you know,

676
00:24:34,541 --> 00:24:36,768
buyers are so much more educated, you know,

677
00:24:36,927 --> 00:24:39,234
on on what they're looking for. And Yeah.

678
00:24:40,284 --> 00:24:42,195
That they can go through the pictures and

679
00:24:42,195 --> 00:24:44,504
see that thing running, and and they get

680
00:24:44,504 --> 00:24:46,597
everything that they need just from that, and

681
00:24:46,654 --> 00:24:47,928
and they don't, you know, they don't read

682
00:24:47,928 --> 00:24:48,779
as much. But

683
00:24:49,375 --> 00:24:50,805
you know, as far as that marketing, you

684
00:24:50,805 --> 00:24:53,926
know, it's what really sets, you know, and

685
00:24:53,982 --> 00:24:55,038
not to try to

686
00:24:55,411 --> 00:24:58,214
pump auction time, but, like, that integration between

687
00:24:58,683 --> 00:25:00,752
tractor house machine trader truck paper. And all

688
00:25:00,752 --> 00:25:03,457
our other brands, you know, We we include

689
00:25:03,457 --> 00:25:05,844
with all the listings, the the print publication.

690
00:25:06,082 --> 00:25:07,276
That's all tied into it.

691
00:25:08,166 --> 00:25:11,030
At no additional charge, but those those listings

692
00:25:11,030 --> 00:25:12,383
showing up at the top of the searches

693
00:25:12,383 --> 00:25:14,713
of tractor house machine trigger truck paper

694
00:25:15,104 --> 00:25:17,250
you know, we have... For those... The the

695
00:25:17,250 --> 00:25:19,318
amount of traffic that visits visits those sites.

696
00:25:19,477 --> 00:25:20,351
You know, we had a... Last year night,

697
00:25:20,510 --> 00:25:21,782
you know, I mentioned, we had a hundred...

698
00:25:21,941 --> 00:25:23,929
Over a hundred and 50000000000 dollars of equipment

699
00:25:23,929 --> 00:25:25,777
roll through those. That's a lot of people

700
00:25:25,777 --> 00:25:27,294
that needs to be on those sites on

701
00:25:27,294 --> 00:25:29,689
a on a daily, you know, hourly minute

702
00:25:29,689 --> 00:25:32,482
basis. And so driving all that to these

703
00:25:32,482 --> 00:25:35,210
auction listings and getting that... Exposure really, you

704
00:25:35,210 --> 00:25:38,002
know, widen that that reach and, you know,

705
00:25:38,161 --> 00:25:40,714
buyers are are less loyal to their local,

706
00:25:40,953 --> 00:25:43,425
you know, environment and they're more confident buying

707
00:25:43,425 --> 00:25:45,674
from you know, wherever it is. If if

708
00:25:45,674 --> 00:25:47,827
that's the piece they want because it's easier

709
00:25:47,827 --> 00:25:49,821
to get it transported. It's easier to, you

710
00:25:49,821 --> 00:25:52,613
know, find financing, and there's there's different tools

711
00:25:52,613 --> 00:25:54,404
out there for them to get that piece

712
00:25:54,619 --> 00:25:56,446
and build conference around us. So you need

713
00:25:56,446 --> 00:25:58,194
those... You need that reach. You need that

714
00:25:58,194 --> 00:26:00,021
tractor house. You need that machine machine your

715
00:26:00,021 --> 00:26:00,839
machine trader

716
00:26:01,549 --> 00:26:03,786
reach out there to to, you know, gather

717
00:26:03,786 --> 00:26:05,864
many bidder from his wide of a distance

718
00:26:05,864 --> 00:26:08,341
to, you know, create competition. Right.

719
00:26:10,273 --> 00:26:12,027
All great points, Mitch. We need to hear

720
00:26:12,027 --> 00:26:14,020
from our sponsors, but we're gonna be back

721
00:26:14,020 --> 00:26:15,853
in a couple minutes, and I wanna, kinda

722
00:26:15,853 --> 00:26:17,766
dive in a little bit deeper on

723
00:26:19,055 --> 00:26:20,430
transportation, the equipment financing,

724
00:26:20,964 --> 00:26:22,418
and then maybe we'll clarify

725
00:26:22,793 --> 00:26:23,668
for the listeners,

726
00:26:24,066 --> 00:26:27,101
the the key points of difference between tractor

727
00:26:27,101 --> 00:26:29,562
house and auction time and what the best

728
00:26:29,562 --> 00:26:31,230
advantages are we'll be back in just a

729
00:26:31,230 --> 00:26:32,500
few minutes with Mitch Y.

730
00:26:34,102 --> 00:26:37,195
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731
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761
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Where to start, Then you need to check

762
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763
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764
00:28:01,746 --> 00:28:03,660
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765
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766
00:28:07,331 --> 00:28:09,873
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767
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772
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773
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774
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775
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776
00:28:39,933 --> 00:28:41,839
We're back in the studio, we're talking with

777
00:28:41,998 --> 00:28:42,554
Mitch Hill,

778
00:28:43,348 --> 00:28:45,016
auction time, tractor house,

779
00:28:45,572 --> 00:28:46,049
and

780
00:28:46,859 --> 00:28:48,136
I don't know what else this cat does,

781
00:28:48,296 --> 00:28:49,115
but probably

782
00:28:49,812 --> 00:28:51,568
Some other stuff that he happens to do...

783
00:28:52,047 --> 00:28:53,803
Got a business out of his garage. Also.

784
00:28:54,042 --> 00:28:55,080
I don't know what that might be.

785
00:28:57,720 --> 00:29:00,924
Mitch, you're given us some great information, and

786
00:29:01,378 --> 00:29:03,287
I wanted to just kinda quickly.

787
00:29:03,939 --> 00:29:05,157
Dive into

788
00:29:06,652 --> 00:29:06,811
like,

789
00:29:07,849 --> 00:29:10,721
transportation services because that's 1 of the things

790
00:29:10,721 --> 00:29:13,119
that happens whenever I buy something online as

791
00:29:13,199 --> 00:29:15,182
I either have to go get it, or

792
00:29:15,182 --> 00:29:17,086
if it's large, and I don't have the

793
00:29:17,086 --> 00:29:19,243
equipment, maybe it's a huge whenever planter or

794
00:29:19,243 --> 00:29:21,387
a combine. I'm gonna contract that out and

795
00:29:21,387 --> 00:29:23,213
have somebody haul that to me. Mh.

796
00:29:24,007 --> 00:29:24,665
You have

797
00:29:25,118 --> 00:29:25,936
transportation services.

798
00:29:27,833 --> 00:29:30,143
Yeah. Absolutely. You know, it's a it's a

799
00:29:30,143 --> 00:29:32,214
value added service, You know, that we... That

800
00:29:32,214 --> 00:29:33,409
we have. It's called Freight star.

801
00:29:34,285 --> 00:29:36,515
It's a proprietary, you know, brand of ours.

802
00:29:37,247 --> 00:29:38,841
Where we have a we have a whole

803
00:29:38,841 --> 00:29:39,660
team of reps

804
00:29:40,434 --> 00:29:41,948
that work with this product,

805
00:29:42,665 --> 00:29:44,339
you know, to... And and and it's all

806
00:29:44,339 --> 00:29:46,823
a digital solution. You know, It allows you

807
00:29:46,823 --> 00:29:48,733
know, either the buyer to go plug in,

808
00:29:49,449 --> 00:29:51,438
you know, what point a to point b

809
00:29:51,438 --> 00:29:53,347
is and and what the asset is or

810
00:29:53,347 --> 00:29:55,257
or allows the seller or the auction here

811
00:29:55,257 --> 00:29:56,866
into, you know, if if the if the

812
00:29:56,866 --> 00:29:58,722
bar is like, hey, Can you help with

813
00:29:58,780 --> 00:30:00,296
transportation? And, you know, it's not something that

814
00:30:00,296 --> 00:30:02,210
you normally deal with. You know, we we

815
00:30:02,210 --> 00:30:03,885
have we have AAA

816
00:30:03,885 --> 00:30:05,694
whole... There was a whole ton of

817
00:30:06,532 --> 00:30:08,446
transportation companies that are part of this that

818
00:30:08,446 --> 00:30:10,121
bid on the... That bid on the... The

819
00:30:10,121 --> 00:30:12,354
actual loads once they get posted, and then

820
00:30:12,354 --> 00:30:14,348
you're able to accept a load that that

821
00:30:14,348 --> 00:30:16,195
makes the most sense. And and all these

822
00:30:16,195 --> 00:30:18,495
guys are are vetted and and insured and

823
00:30:18,495 --> 00:30:20,557
and and guys that are legit and so

824
00:30:20,557 --> 00:30:22,460
it's not like flakes. We we do all

825
00:30:22,460 --> 00:30:23,903
that on our back end. But and It

826
00:30:23,903 --> 00:30:25,912
just basically takes the busy work out of

827
00:30:26,047 --> 00:30:27,715
transportation and and gives you an option

828
00:30:28,350 --> 00:30:30,097
outside of someone, you know, if they if

829
00:30:30,097 --> 00:30:31,130
if they do wanna go shop it on

830
00:30:31,130 --> 00:30:32,798
their own, they... You know, obviously, they can.

831
00:30:32,957 --> 00:30:34,808
But it's a solution to make easier for

832
00:30:34,808 --> 00:30:37,684
you guys. That's a pass through solution that

833
00:30:37,684 --> 00:30:39,442
you can offer to your clients, You know,

834
00:30:40,001 --> 00:30:42,250
because they're actually the... The buyer and the

835
00:30:42,250 --> 00:30:44,317
seller, the 2 that are gonna wanna work

836
00:30:44,317 --> 00:30:46,782
out transportation. Right? And as an auction here,

837
00:30:46,941 --> 00:30:49,485
you can... This is something that's provided to

838
00:30:49,485 --> 00:30:50,678
you through auction time.

839
00:30:51,409 --> 00:30:53,004
Maybe they elect to use it, maybe they

840
00:30:53,004 --> 00:30:55,476
don't, but those resources are clearly a value

841
00:30:55,476 --> 00:30:57,230
add. The other 1 that I'm seeing on

842
00:30:57,230 --> 00:31:00,362
here is financing, equipment financing.

843
00:31:01,233 --> 00:31:03,307
And that's, you know, we just talked about

844
00:31:03,307 --> 00:31:04,764
the interest rates and

845
00:31:05,141 --> 00:31:07,295
the the the shift in the markets are

846
00:31:07,295 --> 00:31:10,700
gonna become more important for creative financing. So

847
00:31:10,898 --> 00:31:14,626
having a financing arm as another value add

848
00:31:14,626 --> 00:31:16,609
to your clients is is gonna be very

849
00:31:16,609 --> 00:31:17,006
valuable.

850
00:31:17,973 --> 00:31:20,277
Yeah. You know, So the financing, you know,

851
00:31:20,436 --> 00:31:22,978
it's it's something I'm I'm actually personally involved

852
00:31:22,978 --> 00:31:24,408
in, very heavily,

853
00:31:25,202 --> 00:31:26,888
you know, and and it is solution. It's

854
00:31:26,888 --> 00:31:28,483
very kinda similar to that Freight,

855
00:31:29,520 --> 00:31:30,955
the way it's set up, but it's it's

856
00:31:30,955 --> 00:31:32,710
set up, there's a there's a whole bunch

857
00:31:32,710 --> 00:31:34,305
of lenders that are part of the the

858
00:31:34,305 --> 00:31:36,634
the currency finance program. And so you know,

859
00:31:36,793 --> 00:31:38,650
when when someone does apply for financing,

860
00:31:39,428 --> 00:31:41,583
you know, we're able to, you know, see

861
00:31:41,583 --> 00:31:44,536
see what what their their borrower profile is,

862
00:31:44,776 --> 00:31:45,390
and then

863
00:31:45,984 --> 00:31:47,807
and then work directly with that lender, you

864
00:31:47,807 --> 00:31:49,099
know, on a very quick

865
00:31:49,550 --> 00:31:50,050
basis

866
00:31:50,739 --> 00:31:53,214
to to get that guy financed because every

867
00:31:53,214 --> 00:31:55,452
lender has a different appetite for different assets

868
00:31:55,452 --> 00:31:56,571
and different, you know,

869
00:31:57,210 --> 00:32:00,567
borrower types. And so, we're able to narrow

870
00:32:00,567 --> 00:32:02,085
it down to who makes the most sense

871
00:32:02,085 --> 00:32:03,856
is gonna finance is the quickest. And then,

872
00:32:04,016 --> 00:32:05,531
you know, I have a team of reps

873
00:32:06,010 --> 00:32:08,163
here in Lincoln in in Scottsdale in our

874
00:32:08,163 --> 00:32:10,795
office in Scottsdale that that work directly with

875
00:32:10,795 --> 00:32:12,731
the the potential borrower to

876
00:32:13,123 --> 00:32:15,430
to get that financing and and and get

877
00:32:15,430 --> 00:32:15,669
the,

878
00:32:16,703 --> 00:32:18,454
either get them pre approved for the auction

879
00:32:18,454 --> 00:32:20,523
before, you know, the things... Before the unit

880
00:32:20,523 --> 00:32:22,057
sells so that they're ready

881
00:32:22,685 --> 00:32:24,432
and already are ready to go or if

882
00:32:24,432 --> 00:32:25,544
it's, you know, post sale,

883
00:32:26,577 --> 00:32:28,245
you know, and they... For whatever reason they

884
00:32:28,245 --> 00:32:29,992
didn't get their ducks in line before, we

885
00:32:29,992 --> 00:32:32,565
can, we can hopefully, get them finance whether.

886
00:32:32,884 --> 00:32:34,325
And we can do this for guys with,

887
00:32:34,404 --> 00:32:36,325
you know, a credit all the way down

888
00:32:36,325 --> 00:32:37,605
to, you know, guys that, you know,

889
00:32:38,258 --> 00:32:40,094
might have not the greatest credit for whatever

890
00:32:40,094 --> 00:32:42,488
reason. We we typically have an option form.

891
00:32:43,445 --> 00:32:45,621
So we're talking about a platform

892
00:32:46,094 --> 00:32:48,331
that you're pitching to a client right now.

893
00:32:48,571 --> 00:32:50,807
And you... You've shown me... We have an

894
00:32:50,807 --> 00:32:52,086
online auction, you know,

895
00:32:53,139 --> 00:32:55,539
you know, billions of pieces of equipment annually,

896
00:32:56,339 --> 00:32:59,299
or dollars worth that's being ran through this

897
00:32:59,299 --> 00:32:59,799
platform,

898
00:33:01,148 --> 00:33:01,886
we've got

899
00:33:02,258 --> 00:33:05,036
transportation services. We've got equipment financing services,

900
00:33:05,670 --> 00:33:07,361
but 1 of the most valuable,

901
00:33:07,988 --> 00:33:09,502
because at the end of the day, what

902
00:33:09,502 --> 00:33:12,292
is somebody most concerned about whenever they're gonna

903
00:33:12,292 --> 00:33:15,081
auction a piece of equipment, especially expensive equipment?

904
00:33:15,653 --> 00:33:18,198
Is I have a lot of capital tied

905
00:33:18,198 --> 00:33:20,106
up in that. I wanna exit that piece

906
00:33:20,106 --> 00:33:23,048
of equipment with as much capital recovery as

907
00:33:23,127 --> 00:33:25,846
I as I possibly can. Yeah. Can you

908
00:33:25,846 --> 00:33:27,062
give me some confidence

909
00:33:27,994 --> 00:33:31,733
into what combines are currently bringing online or

910
00:33:31,733 --> 00:33:33,802
tractors are over the road trucks for,

911
00:33:34,454 --> 00:33:37,083
this type of a Peter bill, you know,

912
00:33:38,118 --> 00:33:39,495
day cab truck

913
00:33:39,871 --> 00:33:42,500
that has virtually no miles on it, and

914
00:33:42,580 --> 00:33:43,536
I need to sell this.

915
00:33:44,585 --> 00:33:47,128
Having examples of those trucks that have sold

916
00:33:47,128 --> 00:33:50,331
recently either traditionally through tractor house

917
00:33:51,182 --> 00:33:53,741
or through auction time. Yeah. I think is

918
00:33:53,741 --> 00:33:57,083
an invaluable solution that we personally use that

919
00:33:57,083 --> 00:33:59,232
when out of all of these third party

920
00:33:59,232 --> 00:33:59,709
add ons,

921
00:34:00,903 --> 00:34:01,937
or I say third party.

922
00:34:02,907 --> 00:34:05,058
You being the third party provider, but the

923
00:34:05,058 --> 00:34:07,208
add ons, we use this 1 the most.

924
00:34:07,845 --> 00:34:08,005
Yeah.

925
00:34:09,040 --> 00:34:10,792
And that's we evaluator. Right?

926
00:34:11,604 --> 00:34:13,759
Yep. Yep. It's fleet evaluator side of it.

927
00:34:13,918 --> 00:34:15,913
You know, and that's that's an invaluable part.

928
00:34:16,152 --> 00:34:18,626
Like, it's it's so important, you know, that

929
00:34:18,626 --> 00:34:19,025
you that...

930
00:34:19,680 --> 00:34:21,360
If if I... Any auction... If I was

931
00:34:21,360 --> 00:34:22,800
an auction engineer, you know, then not... And

932
00:34:22,800 --> 00:34:24,160
this is what I do on a daily

933
00:34:24,160 --> 00:34:26,480
basis, helping guys close, you know, deals with

934
00:34:26,480 --> 00:34:26,980
cons.

935
00:34:27,854 --> 00:34:29,452
You know, is running that. And set... In...

936
00:34:29,771 --> 00:34:31,449
I think the most important thing is setting

937
00:34:31,449 --> 00:34:33,927
the expectations right, from the beginning,

938
00:34:34,566 --> 00:34:37,046
you know, that And because then you're... You

939
00:34:37,046 --> 00:34:38,872
know, then you can provide you figure out

940
00:34:38,872 --> 00:34:40,936
from there what... You know, where are they?

941
00:34:41,173 --> 00:34:42,920
Is is this... You know, is this a...

942
00:34:43,095 --> 00:34:45,095
Acceptable form. You know, are they... Or they

943
00:34:45,095 --> 00:34:46,775
think their stuff's work too much or to,

944
00:34:46,855 --> 00:34:49,015
you know, you know, you really... You can

945
00:34:49,015 --> 00:34:51,070
really gauge, you know, where they're at

946
00:34:51,824 --> 00:34:53,175
and, you know, what they owe on it

947
00:34:53,175 --> 00:34:54,447
or or how they, you know,

948
00:34:55,162 --> 00:34:57,546
wanna liquidate it from there. But, yeah. Setting

949
00:34:57,546 --> 00:35:00,065
those expectations are huge in that that product

950
00:35:00,184 --> 00:35:02,014
fleet evaluator gives you that it's free.

951
00:35:03,127 --> 00:35:05,195
And it uses all the data that, you

952
00:35:05,195 --> 00:35:06,627
know, that we have on the back end

953
00:35:06,627 --> 00:35:07,079
to fleet

954
00:35:07,913 --> 00:35:09,578
we actually tested on a weekly basis to

955
00:35:09,578 --> 00:35:11,641
a 1 percent fleet air. So it's it's

956
00:35:11,641 --> 00:35:13,465
it's very... It is very spot on. Well,

957
00:35:13,624 --> 00:35:15,151
that's 1 of the first things we talk

958
00:35:15,151 --> 00:35:17,143
to clients about is there's no guarantees in

959
00:35:17,143 --> 00:35:18,976
the auction business. You know, if you're gonna

960
00:35:18,976 --> 00:35:20,650
have an auction, have an auction if you're

961
00:35:20,650 --> 00:35:22,219
ready to sell it, we believe

962
00:35:22,578 --> 00:35:26,106
in the marketing model because, you know, most

963
00:35:26,243 --> 00:35:28,713
practitioners that have been around for any period

964
00:35:28,713 --> 00:35:29,111
of time,

965
00:35:30,083 --> 00:35:32,498
they bought into it. They see the benefits

966
00:35:32,637 --> 00:35:35,748
of ama, a buying audience and having them

967
00:35:35,748 --> 00:35:38,236
competitively bid on it. But when you can

968
00:35:38,236 --> 00:35:40,388
also back that up and say, listen, Even

969
00:35:40,388 --> 00:35:42,620
though there's no guarantees, what the pricing may

970
00:35:42,620 --> 00:35:45,410
be, I pulled a fleet evaluator, Mh report.

971
00:35:45,905 --> 00:35:50,704
Here's 23 other tractors truck combines from 7

972
00:35:50,704 --> 00:35:52,304
states that have sold in the last 6

973
00:35:52,304 --> 00:35:55,590
months, and the price swing is 36000

974
00:35:55,590 --> 00:35:56,780
to 54000

975
00:35:56,780 --> 00:35:59,344
dollars low and high. That's kind of where

976
00:35:59,400 --> 00:36:01,860
these 23 items have brought in the last

977
00:36:01,860 --> 00:36:02,734
6 months to a year.

978
00:36:03,463 --> 00:36:05,686
You're instill a lot of confidence in that

979
00:36:05,686 --> 00:36:08,385
person that, okay. That that I'm letting my

980
00:36:08,385 --> 00:36:09,496
guard down a little bit.

981
00:36:10,132 --> 00:36:11,799
I'd rather have the high side than the

982
00:36:11,799 --> 00:36:13,642
low side. But III

983
00:36:13,642 --> 00:36:16,027
understand the margin now, and I can I

984
00:36:16,027 --> 00:36:18,277
can live with that? Let's move forward. So

985
00:36:18,572 --> 00:36:21,435
I think we're we're basically buying confidence and

986
00:36:21,435 --> 00:36:23,601
and building coffee. Dance and our clients when

987
00:36:23,601 --> 00:36:25,356
we present a tool like this.

988
00:36:26,472 --> 00:36:28,147
Yeah. You know, and it... It's nice to,

989
00:36:28,307 --> 00:36:29,583
you know, you show them that and there's

990
00:36:29,583 --> 00:36:31,497
some visuals that come with it and some

991
00:36:31,497 --> 00:36:33,988
charts and You know, it's... It it really

992
00:36:33,988 --> 00:36:36,625
does validate your services more and and shown

993
00:36:36,625 --> 00:36:38,383
that you're, you know, you are... You know

994
00:36:38,383 --> 00:36:39,822
what you're talking about. Mitch a lot of

995
00:36:39,822 --> 00:36:41,660
people are very visual, so it makes it

996
00:36:41,660 --> 00:36:44,139
easier warm to understand too. Yeah. Yep.

997
00:36:45,568 --> 00:36:47,713
Totally agree. Let's talk a little bit about

998
00:36:47,713 --> 00:36:50,016
tractor house and auction time and how those

999
00:36:50,016 --> 00:36:53,159
2 programs and and warm apartments play together

1000
00:36:53,539 --> 00:36:55,219
when a piece of equipment comes in the

1001
00:36:55,219 --> 00:36:56,739
door because I I think there's a lot

1002
00:36:56,739 --> 00:36:59,219
of misconceptions about what the options are.

1003
00:37:00,432 --> 00:37:02,186
Well, I just put it on auction time,

1004
00:37:02,345 --> 00:37:03,700
and I have to wait till, you know,

1005
00:37:03,860 --> 00:37:05,374
3 or 4 Wednesdays down the road, and

1006
00:37:05,454 --> 00:37:07,128
I sell it. Well, we have some other

1007
00:37:07,128 --> 00:37:07,765
options for you.

1008
00:37:08,417 --> 00:37:09,688
Explain what those options are.

1009
00:37:10,641 --> 00:37:13,500
Yeah. So, yeah. You know, tractor house... Tractor

1010
00:37:13,500 --> 00:37:15,882
house is our retail side, just like machinery

1011
00:37:15,882 --> 00:37:17,391
trader and truck paper. You know, it's where...

1012
00:37:17,883 --> 00:37:19,791
Your... Buyers are able to go and and

1013
00:37:19,791 --> 00:37:21,620
look at units that are for sale.

1014
00:37:22,654 --> 00:37:24,244
You know, now when it comes to auction

1015
00:37:24,244 --> 00:37:26,073
time, auction time as a time to auction

1016
00:37:26,073 --> 00:37:26,550
platform.

1017
00:37:27,599 --> 00:37:30,317
Where units are going to sell, based off,

1018
00:37:30,476 --> 00:37:32,634
you know, it's an auction. And so, you

1019
00:37:32,634 --> 00:37:33,913
know, the nice thing with us, you know,

1020
00:37:34,152 --> 00:37:37,050
obviously, having ownership of both of those products

1021
00:37:37,680 --> 00:37:40,537
we integrate them together or... We basically integrate

1022
00:37:40,537 --> 00:37:42,363
the auction time in the tractor house. And

1023
00:37:42,363 --> 00:37:44,585
so, you know, we put those time listings

1024
00:37:44,585 --> 00:37:45,697
on the retail side.

1025
00:37:46,669 --> 00:37:48,906
Because, you know, if people have a mindset

1026
00:37:48,906 --> 00:37:50,105
of, you know, when they when they see

1027
00:37:50,105 --> 00:37:51,703
a listing that's gonna be on auction, They

1028
00:37:51,703 --> 00:37:53,701
think they're gonna get a deal. And so

1029
00:37:53,701 --> 00:37:55,195
they are attracted to that

1030
00:37:55,713 --> 00:37:58,025
type of asset. And and so when we

1031
00:37:58,025 --> 00:37:58,344
mix

1032
00:37:59,061 --> 00:37:59,300
you know,

1033
00:38:00,177 --> 00:38:01,932
whatever it may be a a john deere

1034
00:38:01,932 --> 00:38:03,606
40 20 old tractor, you know, and there's...

1035
00:38:03,765 --> 00:38:05,619
We got hundreds of for sale on tractors

1036
00:38:05,619 --> 00:38:07,619
us when we mix an auction unit out

1037
00:38:07,619 --> 00:38:09,940
there on the top of the searches of

1038
00:38:09,940 --> 00:38:11,780
of the John deere 40 20, you know,

1039
00:38:11,940 --> 00:38:12,440
tractor

1040
00:38:13,231 --> 00:38:15,220
you know, it's... It it creates a lot

1041
00:38:15,220 --> 00:38:16,732
of interest and a lot of clicks and

1042
00:38:16,732 --> 00:38:18,244
a lot of activity and a lot of

1043
00:38:18,244 --> 00:38:20,489
people saving it to their watch list. You

1044
00:38:20,489 --> 00:38:22,806
know, and and so that that integration between

1045
00:38:22,806 --> 00:38:25,842
the retail platform and the the auction platform,

1046
00:38:25,921 --> 00:38:27,335
you know, is huge. And so

1047
00:38:27,772 --> 00:38:29,363
That's... That that drives a lot of traffic,

1048
00:38:29,442 --> 00:38:30,556
you know, straight to the auction,

1049
00:38:31,909 --> 00:38:33,101
side of it when it when it is

1050
00:38:33,101 --> 00:38:33,976
gonna sell on that.

1051
00:38:34,708 --> 00:38:35,503
Specific Wednesday.

1052
00:38:36,060 --> 00:38:37,889
But, you know, outside of it, you kinda

1053
00:38:37,889 --> 00:38:39,401
hit it on, We do have different other

1054
00:38:39,401 --> 00:38:41,333
ways to sell. We have a

1055
00:38:41,803 --> 00:38:43,976
basically in kind of a a timed waterfall

1056
00:38:44,035 --> 00:38:44,535
cascade

1057
00:38:45,389 --> 00:38:47,541
approach where you can retail units for a

1058
00:38:47,541 --> 00:38:49,135
period of time. And so,

1059
00:38:49,867 --> 00:38:51,378
if let's just use that 40 20, for

1060
00:38:51,378 --> 00:38:53,287
example, You know, it's probably gonna bring, you

1061
00:38:53,287 --> 00:38:54,481
know, 9500

1062
00:38:54,481 --> 00:38:56,724
to 12 grand on the auction. You know,

1063
00:38:56,884 --> 00:38:58,881
But let's say you want... You wanted to

1064
00:38:58,881 --> 00:39:01,118
try to get 15000 out of it, You

1065
00:39:01,118 --> 00:39:02,876
know, on the retail side for a couple

1066
00:39:02,876 --> 00:39:03,195
weeks.

1067
00:39:04,325 --> 00:39:05,758
You know, and try to expose that to

1068
00:39:05,758 --> 00:39:08,225
those those retail buyers because there are buyers

1069
00:39:08,225 --> 00:39:09,282
out there. There's

1070
00:39:10,215 --> 00:39:12,603
there's guys that just buy at auction. There's

1071
00:39:12,603 --> 00:39:14,613
guys that won't ever look at an auction

1072
00:39:14,613 --> 00:39:16,451
because they think it's, you know, something's probably

1073
00:39:16,451 --> 00:39:17,890
wrong with it. You know, I would never

1074
00:39:17,890 --> 00:39:19,807
touch a touch and auction You. So they're

1075
00:39:19,807 --> 00:39:21,566
only a retail guy, which they're, you know,

1076
00:39:21,726 --> 00:39:23,974
they're gonna pay more for there's typically about

1077
00:39:23,974 --> 00:39:26,280
a 30 per... You know, 25 to 30

1078
00:39:26,280 --> 00:39:27,338
percent gap between

1079
00:39:27,871 --> 00:39:28,826
auction and retail price.

1080
00:39:29,542 --> 00:39:31,546
And so it's let... Let me ask you

1081
00:39:31,546 --> 00:39:34,091
real quick for the tractors are setting retail

1082
00:39:34,091 --> 00:39:35,943
on a lot. Are there other financing

1083
00:39:36,398 --> 00:39:38,227
options and, you know, a lot of people.

1084
00:39:38,545 --> 00:39:40,869
Oh tend to, yield towards... This is a

1085
00:39:40,869 --> 00:39:43,179
cash transaction. You know, whatever you bid today,

1086
00:39:44,213 --> 00:39:46,443
you're you're gonna pay for. That's that's the

1087
00:39:46,443 --> 00:39:49,164
amount you're paying on the retail side on

1088
00:39:49,164 --> 00:39:51,550
maybe tractor house side, if I say, well,

1089
00:39:51,709 --> 00:39:53,482
I I would give 17000

1090
00:39:53,698 --> 00:39:54,198
or

1091
00:39:54,588 --> 00:39:56,978
70000 or whatever for this piece of equipment,

1092
00:39:57,297 --> 00:39:59,209
but I need some financing. If they're can...

1093
00:39:59,369 --> 00:40:02,476
Financing falls through, they're not maybe obligated to

1094
00:40:02,476 --> 00:40:03,432
buy it. Is that fair?

1095
00:40:04,244 --> 00:40:05,996
Yeah. It's spot on. You know, It's kind

1096
00:40:05,996 --> 00:40:07,452
of a a negotiable

1097
00:40:07,988 --> 00:40:10,458
transaction versus auctions of, you know, not negotiable.

1098
00:40:10,617 --> 00:40:12,210
It... You know, you're gonna pay the price

1099
00:40:12,210 --> 00:40:14,453
for it that that it was... Last bit

1100
00:40:14,453 --> 00:40:15,009
on. So...

1101
00:40:15,882 --> 00:40:18,104
But The other thing that I'm hearing whenever

1102
00:40:18,104 --> 00:40:19,692
you said that is, let's say there's

1103
00:40:20,485 --> 00:40:20,985
there's

1104
00:40:21,373 --> 00:40:24,396
I don't know. 60, 40 20 tractors that

1105
00:40:24,396 --> 00:40:26,464
are in in the retail side right now.

1106
00:40:27,021 --> 00:40:28,389
2 or 3 of those are getting... And

1107
00:40:28,389 --> 00:40:30,383
ready to be in an auction, and they're

1108
00:40:30,383 --> 00:40:33,175
in different locations, and maybe they're equipped differently.

1109
00:40:33,334 --> 00:40:36,126
You know, one's One's diesel, you know, whatever.

1110
00:40:36,285 --> 00:40:37,322
What the situation is.

1111
00:40:38,374 --> 00:40:41,241
That if they receive good bids. If they

1112
00:40:41,241 --> 00:40:44,506
receive solid bidding, and the market was found,

1113
00:40:44,666 --> 00:40:47,077
and this is what the pricing models are

1114
00:40:47,309 --> 00:40:48,822
you can look at those again on the

1115
00:40:48,822 --> 00:40:50,653
retail side and say, you know where with

1116
00:40:50,653 --> 00:40:52,883
the the market's shifting a little bit. 40

1117
00:40:52,883 --> 00:40:55,804
twenties are maybe not bringing as much or

1118
00:40:55,924 --> 00:40:57,753
they're just killing it in the market. They're

1119
00:40:57,753 --> 00:40:59,662
bringing twice, you know, what they're worth.

1120
00:41:00,457 --> 00:41:02,366
There could be some adjustments in the retail

1121
00:41:02,366 --> 00:41:04,409
side. It kinda beta test, at spot checks

1122
00:41:04,529 --> 00:41:07,075
market sometimes and says, what's a 40 20

1123
00:41:07,075 --> 00:41:09,621
actually worth? Mh. Yeah. On the auction block

1124
00:41:09,621 --> 00:41:10,894
and now we can go back and look

1125
00:41:10,894 --> 00:41:12,725
at our retail side and ask for some

1126
00:41:12,725 --> 00:41:13,043
adjustments.

1127
00:41:13,680 --> 00:41:15,758
Market Yeah. Well, yeah. You and your spot

1128
00:41:15,758 --> 00:41:17,027
on, you know, and the and all of

1129
00:41:17,027 --> 00:41:19,328
that all of that real time data you

1130
00:41:19,328 --> 00:41:21,629
know, goes into the evaluation tool that we're

1131
00:41:21,629 --> 00:41:24,299
talking about. Because today's sales affects tomorrow's values

1132
00:41:24,440 --> 00:41:26,839
and, you know, auction is is true market

1133
00:41:26,839 --> 00:41:30,373
pricing today. Retail pricing typically lags august shin

1134
00:41:30,373 --> 00:41:32,470
pricing, you know, 3 to 4 months because,

1135
00:41:32,608 --> 00:41:34,524
you know, there... There's a motion tied into

1136
00:41:34,524 --> 00:41:37,157
it. There's there's more decision making, tied into

1137
00:41:37,157 --> 00:41:38,376
it. We're auction is

1138
00:41:38,769 --> 00:41:41,086
There's no decision. It's what someone pays for

1139
00:41:41,086 --> 00:41:43,005
today for it. I can't tell you how

1140
00:41:43,005 --> 00:41:45,482
many times I've been at an auction where

1141
00:41:45,482 --> 00:41:47,340
a guy was a really good caretaker.

1142
00:41:47,734 --> 00:41:49,245
Well thought of in his community,

1143
00:41:49,722 --> 00:41:52,029
and he'd have a a 44 30 tractor,

1144
00:41:52,188 --> 00:41:55,148
a 44 40, you know, and and than

1145
00:41:55,148 --> 00:41:57,301
not the market, but more importantly, the neighbors,

1146
00:41:57,381 --> 00:41:59,535
you know, showed up to support his equipment

1147
00:41:59,535 --> 00:42:02,964
sale, and that tractor brings 15 20000 dollars

1148
00:42:02,964 --> 00:42:05,454
more than it's worth. Yeah. You know. So

1149
00:42:05,454 --> 00:42:07,534
sometimes that... And that is the All lure

1150
00:42:07,534 --> 00:42:09,614
to an auction for sellers is

1151
00:42:10,414 --> 00:42:13,295
not always getting, you know, a substandard value,

1152
00:42:13,549 --> 00:42:15,777
for their property. But more importantly, if I've

1153
00:42:15,777 --> 00:42:17,766
been a good caretaker, people know that,

1154
00:42:18,641 --> 00:42:20,152
and they come out here to buy my

1155
00:42:20,152 --> 00:42:22,403
equipment. A lot of times it can out

1156
00:42:22,460 --> 00:42:23,454
for pace

1157
00:42:23,835 --> 00:42:25,994
what the retail market is for some of

1158
00:42:25,994 --> 00:42:26,815
that equipment

1159
00:42:27,114 --> 00:42:28,635
because of the

1160
00:42:29,275 --> 00:42:31,847
the records, the ports the the care taking

1161
00:42:31,847 --> 00:42:33,765
of it and and just the reputation of

1162
00:42:33,765 --> 00:42:35,363
that equipment. You know, we don't.

1163
00:42:36,242 --> 00:42:38,135
I'm glad you brought that up because it's

1164
00:42:38,335 --> 00:42:40,014
We don't see it enough, but, you know,

1165
00:42:40,175 --> 00:42:43,695
telling that story is is huge. And, you

1166
00:42:43,695 --> 00:42:45,614
know, it's something that we've... We see every

1167
00:42:45,614 --> 00:42:47,215
once in a while with an online auction.

1168
00:42:48,028 --> 00:42:50,822
Where, you know, actually interviewing the owner of

1169
00:42:50,822 --> 00:42:52,739
that machine, if it's that quality of a

1170
00:42:52,739 --> 00:42:54,655
machine and there's a story to it, post

1171
00:42:54,655 --> 00:42:56,331
a little video if he's willing to talk

1172
00:42:56,331 --> 00:42:58,822
about it because Yeah Know, it instill, you

1173
00:42:58,822 --> 00:43:00,820
know, confidence with that buyer and it creates

1174
00:43:00,820 --> 00:43:02,039
less question marks

1175
00:43:02,578 --> 00:43:04,255
when they actually, you know, can see, you

1176
00:43:04,255 --> 00:43:04,735
know, where...

1177
00:43:05,389 --> 00:43:07,543
Where did that piece come from? And yeah,

1178
00:43:07,702 --> 00:43:09,138
I'd love to see more of that. You

1179
00:43:09,138 --> 00:43:10,175
know, we don't see it a ton, but

1180
00:43:10,255 --> 00:43:13,046
III would anticipate as online continues to grow.

1181
00:43:13,525 --> 00:43:15,255
You're going to see it more of that

1182
00:43:15,771 --> 00:43:18,630
so besides the things we sell in auctions

1183
00:43:18,947 --> 00:43:20,003
of the I

1184
00:43:20,456 --> 00:43:22,363
and and, you know, being able to dictate

1185
00:43:22,363 --> 00:43:24,918
the terms and and to have, you know,

1186
00:43:25,553 --> 00:43:26,981
your way to sell that's in a short

1187
00:43:26,981 --> 00:43:30,076
time period and extract market value is the

1188
00:43:30,076 --> 00:43:32,962
all lure to an auction. Of good high

1189
00:43:32,962 --> 00:43:35,619
quality equipment that's been well taken care of

1190
00:43:35,679 --> 00:43:37,677
is that it brings more than it's actually

1191
00:43:37,677 --> 00:43:39,695
worth because of pent up demand

1192
00:43:40,090 --> 00:43:42,410
you know, you know, the capital markets maybe

1193
00:43:42,410 --> 00:43:44,489
are are are there the the capital in

1194
00:43:44,489 --> 00:43:47,449
that marketplaces is there and people competitively bid,

1195
00:43:48,104 --> 00:43:50,342
well past where they should have. Yeah. 1

1196
00:43:50,342 --> 00:43:52,739
thing that rarely would ever happen on a

1197
00:43:52,739 --> 00:43:55,615
retail market is you have a 250000

1198
00:43:55,615 --> 00:43:58,099
dollar you know, John deere your combines setting

1199
00:43:58,099 --> 00:43:59,929
on a lot, and a client comes in

1200
00:43:59,929 --> 00:44:01,680
to buy it off the retail lot and

1201
00:44:01,680 --> 00:44:04,465
says 4. Listen. That combines too nice. I

1202
00:44:04,465 --> 00:44:06,072
wanna give you 300000

1203
00:44:06,072 --> 00:44:08,222
dollars for it. That generally does not happen.

1204
00:44:08,859 --> 00:44:09,178
That's

1205
00:44:09,815 --> 00:44:11,408
only at auction or are you gonna see

1206
00:44:11,408 --> 00:44:14,116
that scenario? Yep. Now. You're spot on.

1207
00:44:14,767 --> 00:44:16,673
So what's next? What's coming up for Sand

1208
00:44:16,832 --> 00:44:17,943
Hills and and

1209
00:44:18,420 --> 00:44:19,929
auction time, tractor house,

1210
00:44:20,723 --> 00:44:22,971
all of these great services. You got anything

1211
00:44:23,344 --> 00:44:23,844
kinda

1212
00:44:24,153 --> 00:44:26,377
in the kitchen right now that's that's cooking

1213
00:44:26,377 --> 00:44:27,885
that's getting ready to be released that you

1214
00:44:27,885 --> 00:44:28,600
wanna talk about.

1215
00:44:29,712 --> 00:44:30,030
You know,

1216
00:44:31,062 --> 00:44:33,061
you know, our... We're all... Always progressive, You

1217
00:44:33,061 --> 00:44:35,125
know, we we continue to dive in into

1218
00:44:35,125 --> 00:44:36,077
more niche markets,

1219
00:44:36,632 --> 00:44:39,172
you know, obviously, tractor machine trade and truck

1220
00:44:39,172 --> 00:44:41,489
paper our core markets, but voice know, we've

1221
00:44:41,489 --> 00:44:43,554
we brought in a lot more kinda sub

1222
00:44:43,554 --> 00:44:45,619
markets within each of those getting into,

1223
00:44:46,334 --> 00:44:48,002
you know, on the construction side, the lift

1224
00:44:48,002 --> 00:44:50,559
side, the forestry side, the crane side, you

1225
00:44:50,559 --> 00:44:52,498
know, the ag side, you know, we got

1226
00:44:53,356 --> 00:44:54,795
you know, we're getting into some of the

1227
00:44:54,795 --> 00:44:57,511
turf equipment. And, you know, breaking out some

1228
00:44:57,511 --> 00:44:59,281
of those niche markets, but, you know, I

1229
00:44:59,440 --> 00:45:01,108
I think that the the what's new and

1230
00:45:01,108 --> 00:45:02,856
coming, you know, for auction engineers. You know,

1231
00:45:03,014 --> 00:45:06,271
this whole Ai artificial intelligence is is for

1232
00:45:06,271 --> 00:45:08,518
real. And, you you know, we're able to

1233
00:45:08,518 --> 00:45:10,676
better... You know, we have more visibility into

1234
00:45:10,676 --> 00:45:14,032
buying habits of buyers and, you know, getting

1235
00:45:14,032 --> 00:45:15,790
equipment in front of them that they wanna

1236
00:45:15,790 --> 00:45:16,030
see,

1237
00:45:16,922 --> 00:45:18,436
you know, and we can get more, you

1238
00:45:18,436 --> 00:45:21,067
know, predictable on what assets we think they're

1239
00:45:21,067 --> 00:45:24,356
gonna be bidding on and buying. And so

1240
00:45:25,146 --> 00:45:27,318
that's only gonna, you know, help strengthen

1241
00:45:28,092 --> 00:45:28,411
you know,

1242
00:45:30,083 --> 00:45:32,391
your auction and, you know, the visibility on

1243
00:45:32,391 --> 00:45:34,342
tractor hours. And when we can really tailor,

1244
00:45:34,640 --> 00:45:36,953
you know, a specific buyer, what they wanna

1245
00:45:36,953 --> 00:45:39,347
see and and and really strengthen that side

1246
00:45:39,347 --> 00:45:41,037
of it. And so there's a lot on

1247
00:45:41,037 --> 00:45:42,871
the Ai side, You know, we could probably

1248
00:45:42,871 --> 00:45:44,545
have a whole session on that as a

1249
00:45:44,545 --> 00:45:44,784
whole,

1250
00:45:45,661 --> 00:45:48,213
and even even tying into equipment values and

1251
00:45:48,213 --> 00:45:49,304
things like that. But,

1252
00:45:49,981 --> 00:45:52,049
you know, there's... There's a lot of excitement

1253
00:45:52,049 --> 00:45:53,322
here in the in the next, you know,

1254
00:45:53,878 --> 00:45:55,469
several years, even just this year alone.

1255
00:45:56,677 --> 00:45:58,739
I'm looking at the Rv side right now.

1256
00:45:59,056 --> 00:46:02,095
Yeah. And I'm... I'm thinking about taking a

1257
00:46:02,150 --> 00:46:03,126
vacation. So

1258
00:46:03,911 --> 00:46:04,148
Yeah.

1259
00:46:04,783 --> 00:46:06,450
And I'm You know when that buying lazy.

1260
00:46:06,688 --> 00:46:08,751
Even for your vacation. And I'm too lazy

1261
00:46:08,751 --> 00:46:10,577
to sleep in a tent. It oh, No.

1262
00:46:10,815 --> 00:46:12,656
Nobody sleeps tents and you. What are we

1263
00:46:12,656 --> 00:46:14,884
talking about? Nope Yeah. No. Once you hit,

1264
00:46:15,043 --> 00:46:17,373
like, 35, you can't sleep in a 10

1265
00:46:17,589 --> 00:46:18,067
anymore.

1266
00:46:18,703 --> 00:46:21,344
Is that back won't allow it anymore Oh,

1267
00:46:21,503 --> 00:46:24,371
you're okay. It's medical. It's not illegal though.

1268
00:46:24,610 --> 00:46:25,487
Yeah. Sorry.

1269
00:46:28,116 --> 00:46:29,869
I got a ticket for sleeping in a

1270
00:46:29,869 --> 00:46:31,796
tent. I I just think funny that you're

1271
00:46:31,796 --> 00:46:34,025
talking about taking a vacation and buying an

1272
00:46:34,104 --> 00:46:36,094
Rv for your vacation.

1273
00:46:37,368 --> 00:46:39,930
You're you're talking about taking it's more than

1274
00:46:39,930 --> 00:46:41,920
1 vacation when you buy an rv, Sean.

1275
00:46:42,557 --> 00:46:43,194
I think so.

1276
00:46:43,990 --> 00:46:46,060
I think so. These these look nice. This

1277
00:46:46,060 --> 00:46:46,378
is

1278
00:46:47,349 --> 00:46:48,944
And you guys are getting into a lot

1279
00:46:48,944 --> 00:46:51,735
of different Yeah. Stuff. But lots stocks in

1280
00:46:51,735 --> 00:46:54,288
here. Mh. Livestock stuff. Hey. You know, it

1281
00:46:54,367 --> 00:46:56,042
It is a good time to probably the

1282
00:46:56,042 --> 00:46:58,215
the Rv market. Been probably hit the worst

1283
00:46:58,215 --> 00:47:00,454
and the... Of of all markets out there.

1284
00:47:00,614 --> 00:47:02,535
It's it's soft because it's very much a

1285
00:47:02,535 --> 00:47:04,110
consumer driven product and

1286
00:47:05,265 --> 00:47:08,132
it's, you know, during during the pandemic, everyone

1287
00:47:08,132 --> 00:47:10,522
bought Rv. And then because it couldn't do

1288
00:47:10,522 --> 00:47:12,353
anything. And now they realize oh, Lord, we're

1289
00:47:12,353 --> 00:47:14,144
not using it, and so

1290
00:47:14,523 --> 00:47:16,860
trying to sell it. And so that market

1291
00:47:16,920 --> 00:47:19,556
being consumer very driven is it's...

1292
00:47:21,090 --> 00:47:22,690
There's a lot of inventory out there. So

1293
00:47:22,690 --> 00:47:24,849
there's there is some deals out there. That

1294
00:47:24,849 --> 00:47:27,410
makes me as an Rv owner, very happy

1295
00:47:27,410 --> 00:47:27,809
to hear.

1296
00:47:28,703 --> 00:47:30,292
Because that means I'll be able to actually

1297
00:47:30,292 --> 00:47:31,404
find camping spots again.

1298
00:47:32,438 --> 00:47:34,344
When all these people sell theirs off, I

1299
00:47:34,344 --> 00:47:34,901
can still go.

1300
00:47:36,347 --> 00:47:38,496
For sure. It's it's been a whole problem.

1301
00:47:38,735 --> 00:47:41,599
People book out sites, like, years in advance

1302
00:47:41,599 --> 00:47:43,453
for years of time. And

1303
00:47:43,764 --> 00:47:45,752
all these, you know, parks out there just

1304
00:47:45,752 --> 00:47:48,377
don't have anywhere to go For. You know,

1305
00:47:48,536 --> 00:47:50,127
people like me that say, oh, I wanna

1306
00:47:50,127 --> 00:47:52,036
go sometime in July next year, You know,

1307
00:47:52,528 --> 00:47:54,617
There's no way to playing around that. So

1308
00:47:55,547 --> 00:47:57,533
I'm happy they're all selling. I just found

1309
00:47:57,533 --> 00:47:59,757
the 1 I need. It's a 19 72

1310
00:47:59,837 --> 00:48:00,337
Win

1311
00:48:00,790 --> 00:48:02,952
Indian d 22. That's the 1 for me

1312
00:48:02,952 --> 00:48:04,388
right there. I want you to click on

1313
00:48:04,388 --> 00:48:06,382
that and show the inside of that thing.

1314
00:48:06,940 --> 00:48:09,971
Because I guarantee it's all orange and green.

1315
00:48:10,689 --> 00:48:12,045
Maybe. That's what I'm after.

1316
00:48:13,333 --> 00:48:13,572
Yeah.

1317
00:48:14,527 --> 00:48:16,992
That's funny. It's it's my vacation.

1318
00:48:18,186 --> 00:48:18,424
Vacation.

1319
00:48:19,474 --> 00:48:21,554
Mitch, if somebody wants to reach out to

1320
00:48:21,554 --> 00:48:23,315
you and have a conversation, how would they

1321
00:48:23,315 --> 00:48:24,355
get a ahold of you, my friend?

1322
00:48:25,554 --> 00:48:27,554
You know, I... I'm an I'm an open

1323
00:48:27,554 --> 00:48:27,714
book.

1324
00:48:28,367 --> 00:48:30,460
You know, you can you can

1325
00:48:30,837 --> 00:48:33,465
call our 800 number ask for me, you

1326
00:48:33,465 --> 00:48:35,377
know, shoot me an email mitch dash helmet

1327
00:48:35,377 --> 00:48:36,492
at c hills dot com.

1328
00:48:37,224 --> 00:48:38,898
Or mitch at auction time dot com gets

1329
00:48:38,898 --> 00:48:39,456
to me too.

1330
00:48:40,492 --> 00:48:42,006
You know, I'm... I love to help people.

1331
00:48:42,166 --> 00:48:43,441
If you if you got a package, you

1332
00:48:43,441 --> 00:48:46,108
need help closed, you know, to and you're

1333
00:48:46,166 --> 00:48:48,635
not familiar with auction time services. Yeah... I

1334
00:48:48,635 --> 00:48:50,387
love jumping on calls and and helping you

1335
00:48:50,387 --> 00:48:51,741
get that deal because it's it's a win

1336
00:48:51,741 --> 00:48:52,697
for all of us. So...

1337
00:48:54,543 --> 00:48:55,576
Yeah. Definitely reach out.

1338
00:48:56,848 --> 00:48:59,630
We really appreciate you being on today, that

1339
00:48:59,630 --> 00:49:01,061
overview of the equipment markets,

1340
00:49:01,856 --> 00:49:04,518
auction time tractor house all of the services

1341
00:49:04,654 --> 00:49:07,039
that are being provided and available folks. Go

1342
00:49:07,039 --> 00:49:07,596
check it out.

1343
00:49:08,709 --> 00:49:10,776
Auction time is doing a great job, and,

1344
00:49:11,412 --> 00:49:13,454
Mitch, we appreciate you joining as the

1345
00:49:14,372 --> 00:49:16,366
Yeah. Sean, Tri, I appreciate it. This is

1346
00:49:16,366 --> 00:49:17,163
always was a good time.

1347
00:49:18,440 --> 00:49:20,514
That's it for this episode, ladies and gentlemen,

1348
00:49:20,673 --> 00:49:22,667
we'll see you next time inside the sail

1349
00:49:22,667 --> 00:49:22,746
ring.

1350
00:49:30,082 --> 00:49:32,150
Thank you for joining us for today's show.

1351
00:49:32,403 --> 00:49:34,941
To access all resources and links mentioned in

1352
00:49:34,941 --> 00:49:37,478
today's show. Head over to WWW

1353
00:49:37,478 --> 00:49:40,230
dot sail ring dot com Now. We appreciate

1354
00:49:40,349 --> 00:49:42,583
appreciate your feedback and encourage you to share

1355
00:49:42,583 --> 00:49:44,816
the show with other industry pros like yourself.

1356
00:49:45,294 --> 00:49:47,687
Join this next time. As we meet you

1357
00:49:47,687 --> 00:49:49,362
inside the sail rain.