Hodgins auctioneers sell out/quitting live sales??

[ry0972]

Went on the Hodgins website just now and see there is another companies (aero auctions) banner alongside Hodgins and a upcoming online sale with lots of Hodgins rolling stock.
Also a note that there will be no more sales at the Melfort sale yard.

[fjlip]

Looked like they were done last year...

[farmaholic]

Last time we bought land, it was at one of their gongshow land auctions. Einstein and Hawking probably couldn't figure out how they worked. Actually I vaguely understand it but didn't like it. Anyone else go to one of them?

[hobbyfrmr]

I attended one about 10 years ago at the Elks Hall in Shellbrook. I had never experienced a land Auction so a person had to be paying attention because they would sell single quarter sections, then suddenly have 10 quarters bundled , then multiples of 2 or 5. It all worked out, it was a good experience. I could not afford to buy land back then......whomever bought that land at the time is very smart now!!! It has appreciated well.

[fjlip]

They had one in Wadena last year.
A computer program that instantly valued the land using cultivated acre and assessment, I think. We saw the highest bid on individual quarters and multiples on screen. Quite the show.
107,000 assessed went for 3 times paired with a 78,000 quarter that sold for 1.75 times. And that it should.

[farmaholic]

The way I understand it is, all the land was up for bids at all times during the auction. Anyone could bid on a single piece or put together a bundle. Obviously the highest bidder on each parcel would get the land and during the auction the bid price on any parcel couldn't go down in value. That is why even after you lost the bid you could get some land back without doing anything if it was once part of a bundle that got broken up. With all the possibilities of bundles and individual parcels some strange things could happen. At one time people who "tried" to get in on some different land after they lost some they were originally bidding on found themselves suddenly high bidder on more than they wanted. At one time the sales was stopped to sort things out or the program to sort things out. There were about 30 parcels at that sale and lots of bidders....imagine the
possibilities. It was a seller friendly way to sell land. Created a bit of confusion but at least it gave you a bit of time to think instead of a regular auction that creates a sense of urgency

[bluefargo]

Interesting that Hodgins has sold out. I went to many of their land sales. They really weren't that complicated. There is no doubt in my mind they generally got more for the seller as compared to selling the land like a piece of machinery.

Of more interest to me is the demise of Hodgins as the major auctioneer in Western Canada. They were the biggest for many years. The advent of Richie Bros really smoked them. Kramers, arguably the number two auctioneer, remains a solid number two. I suspect they continue to grow.
Not sure why Hodgins fell so fast. I am sure there are lots of reasons. Richies are tough competition.
For years Hodgins had a lousy website compared to Kramer.

[AllisWD45]

Bruce Schapansky showed them where the bear shit in the buckbrush especially with yard sales. Went the first time last fall can see why. there wasn't that arrogant attitude especially Hodgins and his partner.

[Goodtime]

Have to admit Bruce Schapansky has a decent yard sale in April with a lot of farm dispersals. It looks like a few Hodgins workers have started working for Bruce too.

[bluefargo]

Interesting comparasin to Shapansky. However it goes deeper than that. Hodgins used to have the real estate sales sewed up. Also all the big sales were theirs.
Ritchie's simply smoked them !

[Partners]

Not sure if it had anything to do with it..But Hodgins was in "Politics" a few yrs ago..

[AllisWD45]

Always admired and respected the founder Bill Hodgins

[AllisWD45]

In case of dispute his favorite line always was. "Don't worry boys i still have the tractor and you still have your money we can start over

[bluefargo]

I believe Grant Hodgins quit the the Devine government when it reached its "stupid phase" near the end of its tenure. I always respected him for that.

[Oliver88]

Schapansky took over a lot of the auction market share.
Main reason is Schapansky never implemented buyer fees.