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BLACK DIAMOND AUCTIONS
AT A G L A N C E
Many Talents You may know Frank Imholte from attending one of his household auctions. But he can also be the entertainment at your barn dance ... before helping sell the barn. By Gail Ivers
Business Central: People know you as an auctioneer, but you're also a musician. Imholte: I had Black Diamonds Orchestra in 5th or 6th grade with my brother Paul, who’s a professional musician now. We even made a couple of records as Black Diamonds Orchestra. I played the accordion, Paul played guitar and violin. My brother Glenn, who passed away a few years ago, played drums and sang, though not on the records. All of my kids are musicians. We still do barn dances a few times a year. BC: You also sell real estate. Imholte: I’ve been an auctioneer since 1979, but I worked primarily in real estate for
about 15 years, which included auctioning property. In 1999 I sold my interest in RE/MAX and turned the auction business into Black Diamond Auctions Real Estate and Personal Property. I got to the point that I only wanted to sell property at auction. When you're selling property at list price, you’re chasing buyers. At auction, the buyers come to you. You get to set the date, time, and terms. My job is to get the best price possible. Once we come to an agreement with the client, the auction takes place and the sale is done. BC: Have auctions changed much over the years? Imholte: Not the process, but what sells. There isn’t as much draw for old furniture and antiques. Young people don’t want grandma’s stuff. Depression glass used to sell for $25 or $50 per piece. Now a box of it might sell for $25. BC: What do you like best about the business? Imholte: It’s a fun business. People come to auctions to be entertained. They part with their money better if they’re entertained. We have people who have been coming to our auctions for years -- they’ve become friends.
F U N FA C T:
Frank and Peggy Imholte live in the house in which Frank grew up.
Frank Imholte, 66, owner, Black Diamond Auctions Hometown: St. Cloud Education: Cathedral High School graduate; auctioneering school graduate; Certified Auctioneers Institute (CAI), fewer than 850 professionals currently hold this designation; Accredited Auctioneer-Real Estate; Certified Estate Specialist
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BusinessCentral Magazine.com // M AY/ J U N E 2 0 2 0
Family: Wife, Peggy, "The managing partner in the business...."; Children: Andy, Katie, Joe, Mike, and John Hobbies: Motorcycle riding; playing cards Association Involvement: President of the Minn. State Auctioneers Assoc. (MSAA) in 1991 and on the board of directors - six years; conference coordinator - 10 years; executive vice president of the MSAA (a paid position) for 18 years and EVP of the MSAA Foundation.
Black Diamond Auctions 8160 County Road 138, St. Cloud, MN 56301 (320) 241-1200 Blackdiamondauctions.com Established: March 1974 Owners: Frank and Peggy Imholte Business Description: Complete real estate, personal property, and benefit auction service providing clerking and auctioneering. Number of Employees: 3 part time Chamber member since March 2004
TIMELINE
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1971 Frank Imholte graduates from Cathedral at 17 years old
1977 Frank and Peggy marry 1979 Imholte attends auction school and starts Black Diamond Auctions, selling personal property
1984 Imholte receives his real estate license and works for Dave's Realty for two years 1986 Imholte receives his broker's license 1989 Imholte and four others purchase Dave's Realty from the Kuefler Group 1994 Imholte and eight partners purchase the RE/MAX franchise
1999 Imholte sells his interest in RE/MAX and establishes Black Diamond Auctions Real Estate and Personal Property
2007 Imholte receives the Golden Gavel award at the MSAA Conference