When it was time to retire, Tim Foltz turned to Ritchie Bros. to help him sell his equipment.
Tim Foltz and his family have been farming in Indiana for close to 60 years. Farming mixed crops, including corn and soybean, as well as livestock, Tim had the grown the business over the years to a 2000-acre operation in Clinton, IN.
With farming getting harder both physically for Tim, as well as financially challenging due to commodity prices and competition from large corporate agriculture operations, he decided it was time to wind down and enjoy some well-deserved retirement.
If deciding to retire is a big decision, deciding how and what to sell from the farm is crucial. After all, a successful equipment auction can mean the financial difference between a comfortable retirement or just an extended vacation.
As chance would have it, Tim came across the Ritchie Bros. booth at the Farm Progress Show in Decatur, IL. With retirement on the horizon, Tim met the team and inquired about how Ritchie Bros. could help him with a retirement auction on his farm back in Clinton.
'I had no experience with Ritchie Bros., but I knew about their heavy equipment auctions.'
After several meetings with their local Ritchie Bros. sales rep, Tim and his wife Nancy decided Ritchie Bros. was more than capable of handling their auction. Says Tim: "What I really liked about Ritchie Bros. is that they have the science behind what they do. They do a lot of auctions and they have the numbers to back it up. They know how to advertise and what the best way to sell is. That made a big, big difference to me."
In the weeks before the auction, a team from Ritchie Bros. started preparing Tim's equipment and setting up for the auction.
"They were a very pleasant group of guys to work with, and they worked their butts off. Ritchie Bros. has a done a good job of hiring people who are passionate about what they do," said Tim. "They took a lot of stress off of me, and did the extra things to make it all good."
The big day arrives.
Come auction day, Tim was understandably nervous. "What's taken a lifetime to achieve is gone in four hours."
But with a passionate, highly-organized team and an experienced auctioneer flown in from Canada to conduct the event, by the end of the day the auction was a big success for Foltz Farms, with 900+ people from 33 countries registered to bid.
"It was a good deal all the way 'round. I'd highly recommend Ritchie Bros. to anyone. They really hit it out of the park, and everyone was so pleasant to work with."
If you need to sell ag equipment or farmland, talk to our Agriculture Division about how we can help.
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