Auctioneer's Corner - Michael Wegener Implements & Cornlea Iron Auctions
Farm equipment and farmland auctions have been gaining popularity over the last decade for both buying and selling. Today we will introduce you to Michael Wegener Implements and Cornlea Iron Auctions in Cornlea, Nebraska. With over 58 years of experience, Michael Wegener and his team have a unique buy-sell and trade operation that capitalizes on in-person and internet-bidding.
Farmers Hot Line: Let’s say I’m a bidder that is not familiar with your company, tell me about yourself.
Michael Wegener: Our auction yard started in 1956 and evolved over the years to a daily buy-sell and trade operation. In addition we hold two semi-annual live auctions. In 2010 we added Cornlea Iron Auctions, our online auction division that holds a monthly auction on the 1st Thursday of each month.
When it comes to equipment on our yard, I will share whatever information I have about a piece, good or bad so that the customer knows what they are buying. As a farmer myself, I understand that having a quality piece of equipment really does make a difference.
If a person is trying to sell we will help them make a decision which method to use—traditional or online—and what time of the year might be best to sell their piece.
Online auctions vs. In-person bidding—thoughts?
In this day and age both, however I personally believe that people will still bid a little more if they put their eyes on the equipment. That is why with our internet auctions on Cornlea Iron Auctions bidding is open for over 2 weeks. This allows sufficient time for potential bidders to make arrangements to inspect the equipment prior to placing a bid if they choose to.
On the other hand, we also simulcast 90-95 percent of our live auction items with internet bidding; this gives sellers a bigger geographic reach on their items that might not be needed in our area, and have a greater value in other parts of the country.
What were your “Top 5” popular pieces of equipment last quarter?
The main items we have seen selling are mid-size combines, heads, tillage, and planters.
Do you see any trends in the type of equipment be auctioned/bought?
The prices on late model equipment is trending downward due to the current commodity pricing.
What is the highest priced item auctioned in the last quarter?
John Deere S670 STS $263,000
What is the highest count of one type of equipment in your auctions recently?
163 corn and grain heads of all sizes
If you could give someone attending an auction one tip what would it be?
Take your time to look over the piece of equipment before it comes time to bid.
What do you see as the “up & coming” type of equipment?
Recently we have seen an increase in demand for good quality small equipment, for example 4-6 row planters and grain heads. Basically good quality is always in demand and getting harder to find.
How big of a roll does time-of-year play on sales? For example, Spring vs. Fall.
Fall tends to be when you will see your best prices on late model equipment.
Any big upcoming auctions?
Our online division, Cornlea Iron Auctions, will have a large auction on July 3rd. This auction will include farm and construction machinery as well as classic cars and trucks, the complete details can be found at www.cornleairon.com.
We will also be holding our semi-annual live auction in Cornlea, Nebraska on August 28th. As we get closer to the auction you will see the inventory on our website, www.wegenerimplement.com, increase significantly as consigners bring their items to the yard. On sale day there will be internet-bidding available on this website as well.
Anything else you would like to add?
Over the years many things have changed in agriculture, but one thing that has always remained the same here at Michael Wegener Implement - we strive to be the best at connecting buyers and sellers of equipment everyday!
