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Compass Auctions Has Strategy for Increasing Heavy Equipment Bids

Thu July 07, 2022 - Southeast Edition #14
Compass Auctions


Compass Auctions held its monthly Day 1 auction at its facilities in Chattanooga, Tenn., on June 29. Previously, Compass sold heavy equipment in special events, but now it is an integral part of the company's monthly auctions.

The heavy equipment in the June Day 1 auction — there were more than 40 machines on the block — generated significantly over $1 million in revenue. Thousands of bidders attended the auction online and in person.

The amount of heavy equipment in this month's auction beats the Q1 average of 15 machines per auction by a landslide. Compass attributes its relationship with bidders and consignors with the continued success of heavy equipment auctions.

"We have the audience and the expertise to sell your equipment quickly," said Chris Wood, general sales manager at Compass.

Compass uses a variety of media outlets, such as publications, websites and social media, to market each of its auctions to its national audience. Compass Auctions also provides a concierge level of service for consignors.

"We photograph, video, catalog, market, handle inspections, collect payment and send funds to consignors within 10 days of sale," Wood said. "Personalized service in addition to achieving up to 48 percent above the reserve price on heavy equipment is why Compass' consignment partners keep coming back."

Consignors don't have to worry about the cost of transporting their equipment to Compass either.

"We are always looking for consignment opportunities," Wood said. "If you have a piece of heavy equipment, or an entire fleet, we can help you sell it at auction every month. The best thing about it is that we can sell the equipment in place, so you don't have to worry about transporting your property. It's part of our ‘Sell in Place Program.'"

The July Day 1 Auction on July 27 at 10 a.m. will be the next opportunity to bid on heavy equipment at Compass Auctions.

For more information call 800/729-6466 or visit soldoncompass.com.

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The auction also featured two 2019 Volvo excavators with less than 800 hours on each.
(Compass Auctions photo)
Compass was able to secure a hard-to-find newer model Cat excavator with low hours for the auction.
(Compass Auctions photo)
Compass Auctions’ June Day 1 auction featured heavy equipment from Cat, Volvo and John Deere.
(Compass Auctions photo)
A 2019 Volvo excavator EC3000ELR with a 60-ft. reach and 346 hours sold for $200,000.
(Compass Auctions photo)
The lineup also included a 2018 Case dozer.
(Compass Auctions photo)
Telehandlers are a versatile piece of equipment that can be used on any job site.
(Compass Auctions photo)
There were plenty of heavy equipment lots with low hours, including this 2013 Grove crane with less than 3,000 hours.
(Compass Auctions photo)
There were multiple bidders looking to get their hands on this John Deere excavator.
(Compass Auctions photo)




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