Easterday estate farm equipment sell-off one of the largest in US history

 

By Anna King, Northwest News Network

via Oregon Public Broadcasting - Sept. 13, 2021

 

Bidders are lining up for a $14 million equipment auction in the latest turn of the Easterday ghost cattle scam.

 

There’s a fleet of Dodge Ram trucks, tractors, dozers, feed mixing wagons, 4-wheelers and even a horse trailer with living quarters for riders. In all, more than 100 truckloads of farm-related equipment are on the auction block in one of the largest sales of farming gear ever undertaken in the country, much less the Northwest.

 

"I guess what I'd tell you is that [this sale] would be unusual in scope as far as the numbers," says Max Steffes, a leader with Steffes Group out of North Dakota, a major auction house that serves about 10 Midwestern states. "That would be unusual to have a $14 million dollar sale and not have some property involved, yes. It certainly would be a big auction and get them [farmers] talking."

 

This deal was limited to big ag players because the bankruptcy creditors wanted to sell it off as a total package, says Steffes.

 

“It certainly limits your market, in terms of buyers,” he says. “There’s not very many people that can write a check for $14 million for a line of equipment versus individual end users for each individual asset. Each circumstance is different and warrants a different solution and plan, and in this particular case it doesn’t seem like a public auction sale where each asset is offered individually was in the cards.”

 

Too big to move ...

 

Easterday backstory ...

 

The stalking horse ... 

 

Big farm auctions ...  

 

more, including links  

https://www.opb.org/article/2021/09/13/easterday-estate-farm-equipment-sell-off-one-of-the-in-us-history/