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Largest auction in the world

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Mark Westphal

01-28-2008 20:45:54




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What is being touted as the largest Anitque Machinery Auction ever held will be held in Bridgeport Nebraska for 7 full days. Gary"s Implement is planning on selling over 20,000 pieces of equipment and 2 auction rings. Gary has recently passed away and his estate is selling all. I have been in his barns and he has some of the most unusual things. Over 500 toys also.

Mark




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Mark Westphal

01-29-2008 18:57:34




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
Definately millions of dollars involved here. I agree with you on the Aumanns, not a good situation.



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newfarmer9

01-29-2008 18:32:45




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
I hope a communication is on the horizon to clear everything up. I sure do sympathize with Aumanns though. You could make a heck of a lot of commission on a sale of that size. And I would be a little ticked too if someone broke a contract I had with them, especially with such a big sale that obviously took a lot of planning and advertising. I hope Aumanns is successful in their breach of contract lawsuit against Mrs. Phillips and get their money's worth.

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newfarmer9

01-29-2008 17:40:43




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
Everything may very well be fine and dandy, but there is reasonable doubt there since the court documents end in 2004. We don't know what has transpired since then. And we still have not discovered the reason why Mrs. Phillips suddenly cancelled her contractual obligations with Aumanns to pursue other means of disposing with the inventory. Is it true that she sold it to a private buyer, who is now auctioning everything off (I have heard a rumour it was Dennis Polk)? Thats fishy, like I said before. Like I also said before, a simple notice by Mrs. Phillips and/or Kruse to the tractor collecting community stating what has happened could clear this whole mess up.

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MSD

01-29-2008 19:07:52




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 Re: Largest auction in the world in reply to newfarmer9, 01-29-2008 17:40:43  
Who knows why she changed her mind. Could be a tax move. Sell it now and recieve payments over a number of years. The commission cost that she didn't have to pay if she sold it privately may have entered into it. All guesses. Maybe didn't count on a breach of contract suit.



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Mark Westphal

01-29-2008 17:46:02




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 Re: Largest auction in the world in reply to newfarmer9, 01-29-2008 17:40:43  
I think that a communication from them would be very wise myself. It is likely to be on the Horizon.



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newfarmer9

01-29-2008 15:46:03




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
Doesn't it seem strange though, that if the inventory and land was NOT in dispute, that Mrs. Phillips would suddenly cancel her contractual obligations with Aumanns and pursue other means of disposing of the land and inventory? Thats a little fishy right there. As you said, the court documents end in 2004. Whose to say their hasn't been legal action and dealings since then?

I am not saying boycott this auction, but if you are planning on going and/or bidding, make a wise and educated decision. I think it would clear things up greatly if Mrs. Phillips and/or the auction company could come out and send a notice to the tractor collecting community informing us all of exactly what has transpired and what caused the cancellation of the Aumann contract. And I think we should leave it at that.

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Mark Westphal

01-29-2008 17:31:49




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 Re: Largest auction in the world in reply to newfarmer9, 01-29-2008 15:46:03  
It does not seem funny that she did that to me. We have no idea how things went down and have not really heard her side of the story. What I do know is that the items for sale at this 7 day auction do not involve the bankrupcy or any of that previous conflict.
I do not know anything about this other auction company and any of their contractual rights.
Be that as it may the auction is on for April.

MW

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newfarmer9

01-29-2008 12:16:14




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
MSD: Just read your last post. Bridgewater Tractor Parts existed before the Phillips sold their business. It was the owner of Bridgewater who purchased EVERYTHING the Phillips had in 1998. The non-compete clause was to keep the Phillips from continuing their business until he could pay off what he had bought. But he never took physical possession due to the fact he went bankrupt. I asked my Dad about this (he used to be a lawyer), and because this guy did pay something before he went bankrupt, he still technically has a claim on everything mentioned in the original sale, which includes the land, inventory at the time, etc., as long as he pays up. While a long shot, if he challenged in court he could have the sale delayed until ownership is worked out. Which would make for an even stickier mess because now there is a new buyer and the auctioneers to tangle with. And for those claiming that what is being auction off is the Phillips private collection, I doubt Gary Phillips could have collected 2500+ antique tractors and all that other stuff in less than 10 years, especially if he was looking to get out of the whole tractor business scene.

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Mark Westphal

01-29-2008 15:40:17




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 Re: Largest auction in the world in reply to newfarmer9, 01-29-2008 12:16:14  
MSD,
The Phillips owned the tractors and parts collected after 1998 and the land they are on. The bankruptcy didn't include any of the tractors. This is all according to the court documents on record up to 2004. You have to read the court documents before the bankrutcy filing to get the whole picture of what happened. The court documents are 37 pages long by the way. Whatever took place since 2004, I don't know, but it appears the tractor sale should not be in dispute. Now the lawsuits over the auction listing will be an other issue for sure.

That is the most accurate thing that I have read so far. Gary has been doing business on his own, on a separate piece of property and with totally his own equipment until his untimely passing. His own personal collection is absolutely the most amazing collection that I have ever heard of or seen. It will sell and it is an absolute auction. I have no personal interest in the auction and I can probably only attend one of the 7 days but I think that there will be nothing contested after final sale.

MW

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MSD

01-29-2008 15:08:22




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 Re: Largest auction in the world in reply to newfarmer9, 01-29-2008 12:16:14  
There is actually 3 different things in play here that everyone is confusing. The sale of the salvage inventory, the sale of the real estate that it was on and the bankruptcy filing. There was a court trial and a number of appeals concerning the payment for the goodwill clause given by the Phillips and a non compete clause in the contract.. Those court filings show that the inventory was paid for at the time of closing of the deal. It doesn't say where that money came from but that was not ever in dispute. Also at the time of the closing, the buyer paid $350,000 cash for the land the inventory was on. There is no dispute of this either. The deal DID NOT include the tractors the Phillips had at the time of the sale in 1998. These facts are in the court records from the trial. The trial was over the fact the buyer felt the Phillips didn't honor the goodwill clause and the non compete clause and therefore he did not feel he owed those payments resulting in the lawsuit by the Phillips. After the trials and appeals the buyer sold the business to Bridgeport Tractor Parts and they then filed bankruptcy. It appeared to the court that it was a manuever to streach the payments out over 20 years and they denied the bankruptcy. When the buyer sold to Bridgeport Tractor Parts, the Phillips claimed a clause in the contract that said if he sold the real estate, the balance of the contract was due. This would have been the balance of the goodwill and non compete clauses plus any interest. Thats where the court documents stop (in 2004). The lawsuit may have been settled for the amount due or what ever they decided. But the court documents definetly say the inventory and land was paid for but not the good will and non compete clause. The tractors were never part of the deal, in fact the court documents mention the fact that the Phillips retained the collection and intended to retore and sell them. Bridgewater Tractor Parts owned the inventory and land it is on. The Phillips owned the tractors and parts collected after 1998 and the land they are on. The bankruptcy didn't include any of the tractors. This is all according to the court documents on record up to 2004. You have to read the court documents before the bankrutcy filing to get the whole picture of what happened. The court documents are 37 pages long by the way. Whatever took place since 2004, I don't know, but it appears the tractor sale should not be in dispute. Now the lawsuits over the auction listing will be an other issue for sure.

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newfarmer9

01-29-2008 11:51:18




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
Mark Westphal: If you read the original Aumann auctions ad you will realize that what is being auctioned off in April is the inventory of Gary's Implement and the land it was on, which was supposedly sold in 1998. This is what is disputed in the bankruptcy court documents. The disputed items and the items being auctioned off are one and the same. Otherwise why would Mrs. Phillips cancel her contractual obligations with Aumann auctions? There is something just not right there. Also if you check out the auction ads it is not 20 000 tractors or pieces of equipment, it is 20 000 LOTS. There are only about 2500 tractors plus combines and implements as mentioned. The rest of the lots are parts, toys, miscellaneous articles, and cars and trucks undoubtedly, as a bunch of old cars and trucks can be seen in the original Aumann Auctions pictures on their website.

As I have said before I was planning on going, but I have decided to stay out of this mess. Buying a tractor whose ownership is disputed is the same as buying a car or truck from someone who cannot provide proof of ownership. They may very well own it, but without further investigation, you cannot be immediately certain. Unless Mrs. Phillips and/or Kruse auctions can come in the clear about what has transpired on the legal side of things and who is actually auctioning everything off, then I would be extremely wary of bidding on anything.

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newfarmer9

01-29-2008 10:12:41




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
But those parts and inventory and land must still be disputed over. Otherwise why would Mrs. Phillips suddenly cancel the contract with Aumanns and supposedly sell everything to a private buyer, who is now selling through Kruse? Now this is just a theory, but I bet she was sick and tired of legal struggles and worried of a repeat of the previous dispute, and so decided to cut her losses and run by dumping the issue on someone new and possibly unsuspecting.

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Mark Westphal

01-29-2008 10:53:35




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 Re: Largest auction in the world in reply to newfarmer9, 01-29-2008 10:12:41  
That is entirely speculation. The widow had lost her husband and who knows what her decision making process was at the time. Gary had his own yard that was separate from all this bankrupcy fuss. I just read the bankrupcy court docs and I don't think that there is anything on this auction that relates to that business.



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newfarmer9

01-29-2008 09:09:40




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
I just read MSD's post in one of the early threads, and he seems to have simplified the bankruptcy court document quite well. I suggest checking out his post. If he is right, than I guess that Mrs. Phillips doesn't really own the tractors and land, only everything aquired after 1998. Which makes me even warier. You can't sell stuff that isn't legally yours, right?



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MSD

01-29-2008 10:03:12




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 Re: Largest auction in the world in reply to newfarmer9, 01-29-2008 09:09:40  
In the original sale, The Phillips sold only the parts inventory and the land the salvage yard was on. The Phillips kept the collection of tractors that are now for sale. Also, they collected parts that were supposed to go for restoring the collection of tractors they had. I assume those would be the parts that would be on the auction. The buyer bought the entire salvage parts operation including the land it was on and named it Bridgwater Tractor Parts. That business is still in operation and not included in the sale. The court filings I found went to 2004. I don't know what has happened since then.

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newfarmer9

01-29-2008 09:01:19




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
As mentioned before, check out the two previous threads on this auction. Read the bankruptcy court document if you can, and check out the notice on Aumann Auctions website. Sounds like quite a messy legal struggle between several parties over who exactly owns what, with Aumanns caught in the crossfire. I was originally planning on attending the auction, but all these disputes and legal battles have made me wary. I also wouldn't be very surprised, if someone vigourously pursues legal action, that they would obtain a court order halting the sale of all goods until the issues have been resolved.

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mj

01-29-2008 08:41:34




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 Re: Largest auction in the world in reply to Bob, 01-28-2008 20:45:54  

Howard H. said: (quoted from post at 09:07:30 01/29/08)
The lady answered at that # "Kruse International..."...

She said "she'd get one right out to me, as soon as they're available...".

With all I've heard, I don't think I'm going to sit by the mailbox for it...

Howard


Yeah, they don't have it on their schedule yet either. :roll:

Link

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Mike (WA)

01-29-2008 08:29:30




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
I never could get the bankruptcy info posted on the other thread to come up, but if the matter is in bankruptcy court, I'm not surprised that they are going ahead with an auction. In bankruptcy court, its about the money, not the "stuff". The parties will usually "stipulate" (agree) to an auction or sale of the bankrupt's property, once everyone is convinced that its being sold so as to maximize the price. Then the money goes into the registry of the court, and the parties can fight over it to their heart's content. Aumann doesn't have too many rights here, I'm afraid, except as an unsecured creditor for their investment in advertising, etc. pursuant to the contract. They'll share pro rata with other unsecured creditors in whatever's left after any secured creditors and certain other claims are paid off.

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Mark Westphal

01-29-2008 06:54:28




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
The auction company is out of Texas. I am at work now without paper but I can take a look tonight. This man, Gary Phillips, had collected tractors for years and owned a Huge skeleton graveyard for old iron. He was known all over the country and sold Tractors in Mexico, bought them back 20 years later and sold newer ones to Mexico. The sale will be from April 1 to April 7. The land will also be autioned off.

Mark

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Mike M

01-29-2008 07:29:49




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 Re: Largest auction in the world in reply to Mark Westphal, 01-29-2008 06:54:28  
I have always heard of giant collections of tractors. And also wondered what will happen as these owners pass on and all this stuff hits the market. Will all of OUR stuff not be worth anything due to a flooded market ?



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Mark Westphal

01-29-2008 08:18:19




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 Re: Largest auction in the world in reply to Mike M, 01-29-2008 07:29:49  
Gary had been collecting for years. If anything it could spark interest and help value in the long run. He showed me part of his collection one day and after my daughter and I got through the electric fences and guard dogs I was amazed at the variety of John Deere. LP high crops, all the 30 series in various models, 2 cylinders of just about every combo you could imagine.
The sale should be very interesting.

MW

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skip33652

01-29-2008 06:42:14




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
with what auction company????



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C-man

01-29-2008 06:14:50




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
The story I read in my local newspaper, The Rapid City Journal, even gave a toll-free number to call to get a sale flyer. They said a complete listing would be ready about the first of March. The number they said to call is 1-800-968-4444.



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Howard H.

01-29-2008 07:07:30




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 Re: Largest auction in the world in reply to C-man, 01-29-2008 06:14:50  

The lady answered at that # "Kruse International..."...

She said "she'd get one right out to me, as soon as they're available...".

With all I've heard, I don't think I'm going to sit by the mailbox for it...

Howard



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Mark Westphal

01-29-2008 05:36:21




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
The Sunday paper(1-27) in my hometown, 20 minutes from Bridgeport, stated that the auction is on. It is 20,000 pieces of equipment, not 20000 tractors. There is 500 modern heavy duty modern tractors, 2500 antique tractors including 1500 John Deere tractors, 250 International tractors. 250 self propelled combines and the list goes on. I think that the auction will take place.

Mark



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gene bender

01-29-2008 05:13:23




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
Now just where did you get all that info. Better tell the source to stop spreading so much BULL.



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Keith in NW MO

01-29-2008 06:04:11




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 Re: Largest auction in the world in reply to gene bender, 01-29-2008 05:13:23  
That auction is on with a different date and auctioneer. He isn"t spreading bull there are new ad"s everywhere.



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Andy Motteberg

01-28-2008 21:39:43




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 Re: Largest auction in the world in reply to Mark Westphal, 01-28-2008 20:45:54  
That auction was cancelled! Read the post Bob showed you to see the story.



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Lee in Iowa

01-29-2008 08:45:12




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 Re: Largest auction in the world in reply to Andy Motteberg, 01-28-2008 21:39:43  
You must not have read the whole post, in the beginning is the announcement from Aumann saying the auction was cancelled, later my post listing the new details. In reply to all of you who say its bull and stop spreading it, just because you haven't seen the ad yet doesn't mean it doesn't exist. Lee



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Lee in Iowa

01-29-2008 08:45:10




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 Re: Largest auction in the world in reply to Andy Motteberg, 01-28-2008 21:39:43  
You must not have read the whole post, in the beginning is the announcement from Aumann saying the auction was cancelled, later my post listing the new details. In reply to all of you who say its bull and stop spreading it, just because you haven't seen the ad yet doesn't mean it doesn't exist. Lee



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Bob

01-28-2008 20:57:07




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 Mark... in reply to Mark Westphal, 01-28-2008 20:45:54  
You're a little late with that news!



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Mike M

01-29-2008 04:17:29




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 Re: Mark... in reply to Bob, 01-28-2008 20:57:07  
LOL !!!!

Everytime that "story" appears the amount multiplies ?



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rrlund

01-29-2008 06:47:07




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 Re: Mark... in reply to Mike M, 01-29-2008 04:17:29  
Keep it up and they'll have MY tractors listed on there! :)



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