• June 3, 2020

Auctioneers adapt to virtual auctions - Odessa American: News

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Auctioneers adapt to virtual auctions

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Posted: Monday, April 27, 2020 5:23 pm

Due to COVID-19 restrictions, businesses all around have been forced to adapt to a different setting.

Some have had to adapt to doing a business through a virtual setting and that includes Machinery Auctioneers.

The Texas-based business was recently forced into a virtual bidding model for its machinery auctions.

Machinery Auctioneers did their recent virtual auction on April 21.

“Due to the covid-19, we can’t have more than 10 people at a gathering,” said president and co-owner Terry Dickerson. “We usually have 200 to 300 people and we have five different yards, some of which we do by an auction truck outside. Anyway, what we did for the virtual auction, we had yard in odessa and that’s where we conducted the auction from our auditorium.”

Dickerson said the virtual auction featured photos of everything that they had.

“We had pictures from all of the equipment trucks and everythig we had for sale,” Dickerson said. “We had two online biddding platforms. People went online and bid while we were auctioneering live.”

Dickerson added that there were a few differences between this auction and a regular online auction.

“A lot of auctions on the computer are just online only but we literraly were auctioneering and people were bidding live simiultaneously,” Dickerson said. “That was the difference between an online auction and a live online auction.”

The virutal auction ended up being a success, bringing in over $4.5 million in sales form over 2,700 buyers in 41 states and eight foreign countries.

“We were shocked,” Dickerson said. “Very shocked. But it worked really well. We have our yards and we just have lot numbers and when you get on your computer, you see the lot number, the description and the picture (about six pictures). You know what you’re bidding on.”

But before the event, Dickerson said he was very concerned.

“I didn’t sleep much Monday night,” Dickerson said. “We got up and we have some new marketing people working for us now and I have to give them credit because we usually have about a thousand people online even when we have a crowd. We had about 2,600 people online from 41 states, and eight foreign countries. It was a lot. The prices, surprisingly, were really good. But the thing is, we did not focus on the oil field when we promoted this sale. What we did was we went after people in the construction business, farmers, ranchers, people who need trucks and equipments.”

Dickerson said they will be doing another virtual auction on May 19.

“There’s no doubt that people are right now laying off people and have been for the last 30 to 45 days,” Dickerson said. “There are some people who have way more equipment than what they need. I told them all, with the way this oil thing is going, the quicker you sell it, the better off you are. If this thing lasts much longer, more and more people are going to have to sell and more stuff will be on the market.”

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