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Wed August 25, 2021 - West Edition #18
Vantage Auctions returned to its first in-person, live auction since the onset of COVID-19 in early 2020. This $5,000,000 auction was held on July 24, 2021, where bidders were welcomed onsite to inspect the equipment, as well as to bid live at the event, while others were still able to bid virtually. Robert LaMarsh, president of Vantage Auctions, had great expectations for this first in-person auction in 17 months, and this one did not disappoint. Vantage hosted more than 500 on-site bidders, plus an additional 2,500 online bidders.
With the onset of the COVID-19 pandemic in February 2020, and in response to the cancellation of in-person events, Vantage made the quick decision to go completely virtual and has continued that pattern throughout the pandemic, until restrictions were recently lifted in California.
The lockdown affected the manufacturing of new equipment, bringing about a shortage. This led to an opportunity for auction houses like Vantage Auctions to boost its consignments and offer hard-to-deliver equipment to contractors.
"The challenge over the last year has been keeping the flow of equipment coming as less and less became available," LaMarsh said. "Traditionally, contractors would buy new equipment and sell their old, but with little to no new equipment being produced, this created the perfect opportunity for Vantage auctions to provide much needed machines to the end users."
For this first in-person and virtual auction, the auction was well-balanced with inventory ranging from commercial trucks, construction equipment, rippers, attachments to a collection of antique Husqvarna motorcycles. LaMarsh was excited about all of it, and believes that when people take the time to attend an auction in-person and inspect a vehicle, it will typically result in a higher sales price – not always, but often.
According to LaMarsh, what sets Vantage apart from other auctions is the people. "Ultimately, they are just people selling equipment in the dirt, but they make sure their buyers have the best experience, including customer service by answering their questions and being available to assist with photos and videos for their online bidders," he said. "Vantage employees give them a sense of quality, help them feel like they are here at the actual auction. They want the buyer to feel most comfortable with their purchase."
Vantage Auctions will hold its next auction on Sept. 18, 2021.
Vantage Auctions is located in Lake Elsinore, Calif., and has been in business since 2016. Its first auction was held in October of that year. It currently has 14 employees on a site of 30 acres and holds auctions six times per year. These auctions have become a community event for its staff, for the construction community and for local vendors.
For more information, call 951/228-9040 or visit www.vantageauctions.com. CEG
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