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Auction of farm equipment tops $7.4 million as dealership reduces inventory
An auction of farm equipment drew 672 registered bidders Tuesday, resulting in total sales of just over $7.4 million, with Schrader Real Estate and Auction Company managing the auction.
"We had live bidders from 15 states, plus online bidders from 28 states, as well as Canada and Uruguay," said Schrader's Zach Hiner, one of the managers for the auction. The seller was 21st Century Equipment, which had an oversupply of used equipment resulting from its recent acquisition of several other John Deere dealerships.
The inventory included approximately 20 tractors and 16 combines, as well as cornheads, trucks, sprayers and other equipment.
Owen Palm, president of 21st Century Equipment, said the auction exceeded his expectations. "I can't say enough good things about the effort the Schrader organization made to get the sale organized and promoted broadly. We had a great crowd, especially when you consider that it was 14 degrees and snowy. But we had a number of online registrations for people who couldn't attend in person due to the weather," said Palm.