There are many reasons why people hold auctions. Sometimes an auction signifies a bull with awesome genetics while other times it means the end of a long and satisfying career. In contrast, auctions can also signify hard times or tough choices. Auctioneers and buyers know and respect the different types of sale environments.
Farming has a huge culture built around family and the family farm. However, this culture might feel like pressure if you are looking at the end of your farming career without an obvious successor or gen-to-gen plan. In those situations, auctions might be just the right kind of local solution. Not only does an auction provide the seller with an efficient way to turn long term assets into liquid ones, it also provides the community with an opportunity to say thank you. In addition, it may be cost prohibitive for local buyers to purchase an entire operation or arm of the operation at one time. Auctions provide a way to sell smaller parts of an operation, which may be more financially accessible to a larger number of local farms or farmers. At an auction, both the seller and the buyer can support the local economy.
If you have never attended a community-oriented retirement auction this might seem strange, but auctions really are a celebration of community. Of course, a retirement can feel bittersweet, but it is also an opportunity to help your neighbours round out their line of equipment, improve their cattle handling or even start a new yardsite in the country. And, for the buyers it offers an opportunity to exchange stories and tell tall-tales, particularly about a retiree.
Gen-to-gen auction transitions can be a great time to show appreciation and community legacy.
We are looking forward to speaking with a group of fast-talking auctioneers on Monday! Until then, wishing you a weekend full of great deals and one-of-a-kind finds.