Auction Innovation

Property Disposition, in conjunction with Braun & Helmer Auction Service, hosted U-M’s first-ever online-only vehicle/equipment auction. The auction was held from August 20-27, 2020, and resulted in 72 vehicles–including trucks, vans, and passenger cars–as well as a Bobcat Toolcat, street sweeper, and two forklifts being sold for over $1.1 million!

The auction followed a process commonly used on online auction platforms, which requires participants to register on a website in order to submit a bid. All bids were visible, with the highest bidder winning at the end of the auction. Unlike traditional auctions, however, it was not possible for participants to physically inspect the vehicles/equipment and winning bidders needed to make an appointment to pay for— and pick up—the vehicle/equipment.

The second online-only vehicle/equipment auction runs from December 3-10, 2020.  Be sure to check the Property Disposition website for the latest updates and details!