Case Studies

Benefit Auction

Problem: In 2011 the Miller Foundation was created to raise money for SMA  Spinal Muscular Atrophy & other related charities. Part of their fundraising campaign included a live auction as part of their annual fundraising event. The foundation needed a professional auctioneer to ensure a successful event.

Solution: Nutt Auction provided a memorable, exciting event. They managed the details around the live auction so the event coordinator could focus on other details of the evening. Unlike an equipment auction, John and Kelly Nutt brought passion and enthusiasm to the benefit auction events.

Result: For the last five years Nutt has continued to help raise over one million dollars for the foundation. By taking a personal interest they can honestly work from the auction podium and make personal connections with bidders. The audience is both happy and entertained, and the foundation has continued to raise record amounts.

Business Foreclosure

Problem: A community bank in Texarkana, Texas unexpectedly found themselves in a foreclosure situation. Being a small community bank, they did not have the experience or resources to deal with the situation.

Solution: Nutt Auction provided a “turn-key” solution. They managed all the details necessary to get the business assets sold. From the heavy equipment to the office furniture, everything was sold using a combination of live auction with online bidding. At the conclusion the waste was removed and Nutt even provided a broom swept building when they returned the key to the banker with a settlement check.

Result: The bank was able to quickly recapitalize the assets from that company and return the property to the landlord without incurring additional rent. The turn-key solution allowed the bank to focus on other lending activities without having to worry about managing the details associated with the bad loan.

Divorce Settlement

Problem: The assets from a large farm in Bowie County, Texas were being disputed by parties going through a highly contested divorce. Both parties were deeply distrustful of the other and little progress was being made by the lawyers to settling the estate.

Solution: Nutt Auction was called and it was decided that a public auction would provide the most transparent results and provide the fair market value of all the equipment being sold. The liquidation contract was approved by both attorneys and a public auction was scheduled.

Result: The auction prices were impressive. One bidder even reported a used Case tractor being sold for more than the cost of a new one. Just as important as the selling prices was the net result of the sale. All the assets were sold in a public forum so neither party could claim the process was unfair.

Farm Asset Liquidation

Problem: Real estate sold at a plantation in Texarkana, TX, and an anxious buyer was eager to take quick possession. Nutt Auction was called to immediately liquidate all personal property, from farming machinery and construction equipment to household furniture.

Solution: The timeframe was not sufficient enough to properly market and conduct an auction sale onsite. The team at Nutt Auction decided to move all the equipment and assets to their secure location and conduct a live auction with simulcast online bidding. By moving the equipment, the Nutt team had the time to properly clean the items and use a variety of auction marketing techniques to attract interested buyers..

Result: Hundreds of buyers were live and online for the auction. The John Deere cultivator and Caterpillar excavator gathered a lot of attention and sold well above the auction estimates. The results exceeded the family’s expectations and required almost no involvement on their part. Although there was a cost in moving the equipment, the net result to the seller far exceeded anything that could have been done with an onsite auction.

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