The Colorado Auctioneer Newsletter 3rd & 4th Quarter 2021

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COLORADO AUCTIONEER

THIRD / FOURTH QUARTER • 2021

The Quarterly Newsletter of the Colorado Auctioneers Association

THIRD / FOURTH QUARTER • 2021 www.coloradoauctioneers.org

Congratulations Jim Odle inducted into NAA Hall of Fame

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BOARD OF DIRECTORS Identify Yourself as a CAA Member Demonstrate to your Buyers and Sellers that you are a proud member of the Colorado Auctioneers Association. Use the CAA logo in all your ads, on your business cards, on your stationery and on your website. If you’re not using it, we strongly urge you to proudly display the official CAA logo. We have 2 styles / size / shapes that can be used. The logo can be downloaded from our group, Colorado Auctioneers Association (CAA) Members Only on Facebook ( h t t p s : / / w w w. f a c e b o o k . c o m / groups/59956710490/files/) or contact our Executive Secretary, Cissy at admin@coauctioneers.com

President Shawn Hagler 33505 E 156th Ct • Hudson, CO 80642 303-709-3725 • auctioneer@shawnhagler.com 1st Vice President Dean Gunter Mile High Car Company 1480 Ainsworth St • Colorado Springs, CO 80915 719-650-8184 • deangunter21@gmail.com 2nd Vice President / Treasurer Mike Whitfield Peak Auto Auctions 5126 Brighton Blvd • Denver, CO 80216 719-238-8300 • whit@peakautoauctions.com Chairman Of The Board Mike Heitmann MH Bar Auction Co. 27275 Mid Jones Rd. • Calhan, CO 80808 406-450-2051 • mhbar@earthlink.net Halie Behr (2020-2022) Halie Behr, Fundaneer 17585 Pine Lane, Suite 5111 • Parker, CO 303-906-0708 • halie@haliebehr.com Casey Giddings, CAI (2018-2022) Rocky Mtn Estate Brokers 24 Oak Ave. • Eaton, CO 80615 970-454-1010 • casey@whitleyauction.com Graig Medvesk (2019 - 2021) The Auction Team 1610 Hwy 50 • Grand Junction, CO 81503 970-629-9520 • graig@theauctionteam.com Edith Parrish-Kohler (2020-2022) Colorado Premier Realty & Auction Services 10162 Dresden St Firestone, CO 80504 303-565-0509 • e.parrishkohler@gmail.com

I just want to thank the Colorado Auctioneers Association for advertising my auction on July 17th here in Salida. We have a decent turnout and some said they saw it on Colorado Auctioneers Association. And thank you for sharing the advertisement on the Colorado Auctioneers Asssociation Facebook page the day before the sale. Thank you guys so much. Thanks

Col. Edward Alloy

Lance Nichols (2019 - 2021) Nichols Auctioneers 38241 WCR 23 • Eaton, CO 80615 970-302-6185 • lancenichols72@yahoo.com Harold Unrein (2019-2021) 15333 CR 16.5 • Atwood, CO 80722 970-520-5257 • haroldauctioneer@gmail.com Craig Weichel (2020-2022) PO Box 623 Weldona, CO 80653 970-302-0018 • craigrweichel@gmail.com David Whitley (2019 - 2021) Rocky Mountain Estate Brokers 24 Oak Ave. • Eaton, CO 80615 970-539-1269 • david@whitleyauction.com Cissy Tabor • Executive Secretary PO Box 1133 •Rifle, CO 81650 303-729-1195 • admin@coauctioneers.com

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From The President It’s Time To Come Together 2020.

The year that kept our auctioneer family apart by forcing our board to make the decision to forego hosting our annual convention providing education to our members, raising funds through our auctions and unable to crown champions for auctioneeers and ringmen. We were called non-essential. While some of our CAA family were able to continue their business with minimal interruption, for me, personally, and many other members, our annual events, contract work and signature auction events were cancelled by our clients. Many of us lost a great deal of business business due to governmental overreach over the last eighteen months. While some of us are still not 100% back to normal (and financially may never be), auctions are the key to of our economic recovery - WE ARE ESSENTIAL. From agriculture, automobiles, livestock, personal property, real estate and beyond, WE make the world go round and because of this one simple fact – The 2022 CAA Convention is being conducted in person for OUR family and nonmembers alike who choose to attend. It was evident at the 2021 World Automobile Auctioneers Championship in October that the live method of selling cars with auctioneers working together with ringmen as a team that we are essential. There is nothing like a live auction in which us, as auctioneers and ringmen, work together with the bidders and attendees to create the excitement, create the “push” to sell or support the organization or charity.

I you may choose to walk up to your old and new friends alike, shake their hand, hug them, and tell them it is great to see them. I look forwarrd to going back to human contact, which is the cornerstone of our association, businesses, families and communities. We have so many activities to enjoy and participate in - Contests where we see the brightest in our state shine, fun auction, scholarship awards and elections to determine who will bring us into 2022 and beyond. To our first-time attendees and lifelong members alike, you are in for an incredible treat, because this is the family you choose and I promise you will never be disappointed in their generosity, kindness, mentoring skills, and passion for our industry, association and your individual success. Please come see us. In person. Up close. Let’s work together to ensure our businesses, families, and communities thrive again because of our commitment to be leaders in our industry and active members of the CAA. Until next time,

Shawn Hagler

Life is about facing challenges. It is through these challenges that we have the capability of realizing our full capabilities and what we can become. They are supposed to help us discover who we are and how far we can go. As Henry Ford has said, “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” I want you to consider it a reunion. One filled with educational seminars taught by some of the best in our industry. We will have powerful networking where

THIRD / FOURTH QUARTER • 2021 www.coloradoauctioneers.org

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HANNES COMBEST

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just hung up from Cissy Tabor who called and asked me to submit a farewell letter to the Colorado Auctioneers Association membership. And let’s be honest, who can say no to Cissy Tabor? But here’s the deal….I’m not sure I can say goodbye to Colorado. I think about how many people in this particular association have my heart – how many people I have served with on the NAA and the National Auctioneers Foundation Boards (Paul C. Behr, Scott Shuman, David Whitley, Rich Schur, Chuck Bohn) – how many volunteers you have sent our way (Krista Shuman, Casey Giddings, Alex Whitley, Shannon Schur, O. J. Pratt, Mike Whitfield, Doug Carpenter, Coolie Lockhart, Bryce Elemond, Dean Gunter to name a few), how many people I’ve met at C&S and CAI! There are too many to name! I’ve been to the Colorado Convention at least twice and met with the Board a couple of times. You have an amazing association. And you welcomed me into your group and that meant so much to me. I have stories I can tell you about Paul C. and Scott as president. But they may have just as many stories on me – so I’ll keep my mouth shut on that one! Except to tell you to make sure to ask Paul C. Behr how to make Tutti Frutti ice cream and ask Scott Shuman how not to ride in an Uber! Many of you have provided me hospitality – Scott and Krista Shuman trusted me to take Walker for the weekend and introduce him to Allen Fieldhouse – home of the KU Jayhawks (Rock Chalk!) They reciprocated and allowed me to stay in their home. Chuck and Judy Bohn drove out of their way to pick up Christie King and me one year and take us sightseeing through the mountains. What y’all don’t understand is that not everyone does those kinds of things! 4

I have enjoyed my 13 years at NAA. You may have heard rumors as to why I am leaving…here’s the truth…I have worked hard over the last 40 years and I want to slow down, do a little consulting with other associations (because I do LOVE this work) and watch my grandkids grow up. I have a 15-year old granddaughter that still likes to spend time with me and I want the others to do the same. I have three grandkids that are grown – I missed a lot of their activities because I was in the middle of a career that I loved. But the remaining ones are going to get some good “Nanny” time. However, please know how much you have positively impacted my life. I love the Colorado association – you are awesome people and I appreciate each and every one of you. And just one final request: give the next CEO the same support you gave me! They will be thankful – just as I am. I’ll close with one piece of advice – I love how Past President Rob Doyle signs off on his letters and I’m going to borrow it now….Have fun! I know I have!

l l e w e r a F e g a s s e M

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Foundation

DEC. 5-11, 2021 AUCTIONEERS.ORG/DESIGNATIONACADEMY

AARE (REWRITTEN) AMM AMM NEXT BAS (REWRITTEN) REAL ESTATE WORKSHOP

OTHER COURSES ARE BEING OFFERED VIRTUALLY THIS YEAR. VISIT AUCTIONEERS.ORG/DESIGNATIONACADEMY FOR MORE INFORMATION.

THIRD / FOURTH QUARTER • 2021 www.coloradoauctioneers.org

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Member Spotlight

2021 World Automobile Auctioneers Championship Sportsmanship Award

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he World Automobile Auctioneers Championship Sportsmanship Award is presented annually at the WAAC Awards Ceremony to the WAAC Contestant that the Past World Champion Auctioneers present feels displays & exemplifies the Spirit of Excellence in Sportsmanship. This award winning contestant is fair & generous in their behavior and treatment of other contestants. They support their fellow competitors while doing there absolute best as well. They are not critical or judgmental and treat all competitors with respect displaying the highest standards of the auction profession. All WAAC competitors are eligible and considered for this award. ~ Paul C. Behr

Sammy was awarded the Sportsmanship award because he always displays a good attitude, supports and encourages his fellow competitors and is fun to be around. Sammy is a many time competitor, and always shows up ready to give it his best. When Sammy did not make the finals, he did not leave the premises or abandon his fellow competitors. He stayed on site and supported everyone until the final results were announced. ~ John S. Nicholls Let me start by saying that Sammy loves auctioneering and being an auctioneer as much as anyone I know and to know him is to love him. His support for the contest and contestants was evident all day. Even after he didn’t make the finals he stayed to support those who had. Sammy is a caring person that is there to see his friends and fellow competitors succeed as much as he is there for himself. To me that is sportsmanship. He gets there early and stays late. He has an undying love of the craft and an caring spirit for those who practice it. Best Regards, Michael Riggins 6

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Foundation Update

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o quote the Grateful Dead, for those of you old enough to remember, “what a long strange trip it’s been.” Speaking of the last year and a half there are lots of words that come to mind. Many of them not suitable for print. This is a quick update for the foundation activities for this year and the future. I started to mention the pandemic but I’m tired of hearing about it. I think I’ll start using the southern phrase used to describe the Civil War, “The recent unpleasantness.”

of time in the great white North and will not continue after this term. Thanks to Butch for his service to the CAF. My term is up this year as well. Depending on the outcome of the presidential search I can stay on (not as president) or move on as needed. Walt Partridge will continue as the Hall of Fame member and Treasurer. David Whitley has time remaining on his current term as does Dean Gunter. The newly elected Second Vice President is automatically a member of the board.

Here are the answers to a few questions about the foundation’s recent activities.

Q. Who will be the Foundation president in 2022? The difficulty in filling this position is experience. The President needs some time on the board to fully understand the Foundation workings. Of the current board members only one has expressed a great deal of interest in becoming president. Dean Gunter is willing to take the position. Dean has done great works with the CIADA Foundation and raised great sums of money. The difficulty is that Dean is on track to be the president of the CAA. I believe this is a surmountable issue. We’ll all get an opportunity to discuss this at the convention.

Q- Will the foundation be awarding scholarships this year? Yes, we have four being awarded to very qualified candidates. All candidates submitted applications which were reviewed by the board. As a reminder, applicants are only considered from CAA members and their families. The future is bright for the Colorado Auctioneers family if these four are any indication. Each recipient will receive $1,000 towards their education. The CAF is proud to present scholarships to Caleb Hart, Jade Miller, Keaton Glassman and Payten Nichols. Congratulations to all! Q. Will the foundation be conducting an online fundraiser auction before the convention? A guarded, we hope so. We have had several false starts during the last year and a half. Our hope is to begin asking for donations later this month after our next meeting. We will greatly appreciate any donations and assistance. Keep an eye on your email for dates and times. In the meantime, feel free to email me with questions or comments, ojpratt@pacificauction.com

BOARD ELECTIONS

Q. Will the Mile High Auctioneer Open be held in 2022? YES! We are thrilled to resurrect the event at the National Western Stock Show in the Beef Palace on January 22, 2022. This is the last Saturday of the Stock Show. Auctioneers from everywhere will compete for $10,000 in prize money. We will need sponsors, workers and participants. I’ll be serving as the chair of the event. Please email me with any questions or suggestions. ojpratt@pacificauction.com I have enjoyed helping to create the Colorado Auctioneers Foundation. It took 25,000 in donated legal work from Chris Gunlikson of HollIand & Hart. “Thanks Chris!” It also took your support and participation. As we look to the future, the CAF is a fantastic vehicle for our association to do great works. Please continue to support YOUR Colorado Auctioneers Foundation. I look forward to SEEING y’all, in person, at the convention in February.

Q. Will there be openings on the Foundation Board this year? – Yes. There will be 3 openings. After many OJ Pratt, CAI years helping establish the foundation Doug Carpenter President will not be continuing after this term. Many, many Colorado Auctioneers Foundaton thanks to Doug for all his efforts and financial support to the foundation. Butch Hagelstrom is spending a lot

THIRD / FOURTH QUARTER • 2021 www.coloradoauctioneers.org

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Are You Taking Advantage Of Everything The CAA Website Has To Offer?

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hen was the last time you explored the Colorado scholarships and the application can be found on this Auctioneers Association website? If you are new page. to the CAA or have not been on the site in a while, take some time to look at what it has to offer. Want to nominate someone for the CAA Hall of Fame? The nomination form can be found on our website On the site, you can join the CAA or Renew your as well. The Hall of Fame page is shown under the membership - either online or download a form and “About CAA” menu option along with other historical mail it to the CAA. Once you are a member, you will data about the CAA and our members. be able to manage & update your auctioneer profile. Your original profile was created with the information Would you like to find out about the upcoming events provided with your membership application or when in the CAA? There is not only a “CAA Events” button we changed website provider services 2 years ago. on the home page, but also, “Convention & Events” The profile YOU create allows you to put your contact menu option. The events section will have information information, company information, auction & company about past and upcoming events. In addition, we have background (your bio), areas of specialty and you can even designated a button on the home page for the upload a picture of yourself or your logo. What does “CAA Convention” that will take you directly to our yours look like? current, annual event with all the information as it is brought forth. Even the Mile High Auctioneer Open The top 3 areas of specialty can be chosen for your Bid Calling Contest is displayed on the home page and profile, which are searchable on our website. If you in events. have more, add it into your bio area field. This is your time to “sell yourself and promote your expertise.” If you’ve missed one of the quarterly newsletters, click on the “The Colorado Auctioneer Newsletter” button Why is this important? Perspective clients will do an or in the menu to view past issues. These are great internet search for auctioneers and go to the website to resourcees to learn more about the CAA, what we do, search for an auctioneer via the “Colorado Auctioneers” who we are, other members, and maybe a resource button or “CAA Members” on our menu list. Or, they to help you in your auction career and as a business call the CAA and we direct them to the CAA website person. Not only that, our newsletters are shared online and share with them how they can “search for an via www.issuu.com; an online site for publications. auctioneer.” This allows anyone the ability to search Just look up the Colorado Auctioneers Association. for an auctioneer by name, city, zip code or even specialty. This is an important way for you to be found Also check out the CAA News that share events, by potential buyers and sellers. It is a FREE format of member spotlights and other association “newsworthy” advertising for you, as a member benefit. information. Belong to more than one auctioneers association that is managed through AuctionLook? No problem. You do not have to create / manage / update your profile on each one. One account; one profile. One and done. Sometimes as a member, you may want to reach out to one of the Board of Directors or someone on the Executive Board to ask a question, make a suggestion or voice a concern. Under the “About CAA” menu, you will find the CAA Board with their contact information. You will also be able to find your Executive Secretary & Colorado Auctioneers Association contact information.

One of the great benefits of being a CAA member and a benefit of the website is being able to post your auctions via AuctionLook. You can get to this link under the Membership menu item or via the FORMS menu located at the bottom of the website. As a CAA member, you can post your auctions for FREE; another great member benefit. Some options may have a cost, but explore the site and the options available to you. Those auctions get posted on the CAA website, the AuctionLook website, the Auctioneer app, over 30 websites, plus national and local email campaigns.

Please, take advantage of the CAA website and all it In addition, you can find out more about the Colorado has to offer you as a member and as an auctioneer. Go Auctioneers Foundation via the “CAA Foundation” to www.coauctioneers.com today to reap the benefits menu item. Our Foundation is whom awards of being a CAA member. 8

THIRD / FOURTH QUARTER • 2021 thecoloradoauctioneer www.coloradoauctioneers.org


By George Michak

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oes an auctioneer have to treat all bidders exactly the same, in all respects and under all circumstances, or do the auctioneer and the seller have the discretion to waive or modify bidder qualification requirements in the Bidder Terms and Conditions that are intended for the benefit of the auctioneer and the seller? Check out this article from the West Virginia Law Review Online for legal analysis and perspective: https://researchrepository.wvu.edu/wvlr-online/vol124/iss2/1/

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n Alex Lyon & Son, Sales Managers & Auctioneers v. Leach, 844 S.E.2d 120 (W. Va. 2020), the Supreme Court of Appeals of West Virginia grappled with the contractual relationships among participants in an auction transaction and rendered an opinion that (i) misstates and misaligns the rights and obligations among auctioneers, sellers, bidders, and buyers, (ii) impedes the ability of an auctioneer to reasonably control the conduct of an auction, and (iii) threatens to artificially circumscribe the prerogative of sellers and auctioneers to assume greater risks relative to certain bidders in an effort to expand the bidder pool in the legitimate pursuit of the highest auction price. In this article, the author argues that the Leach Court (i) failed to recognize the nature of, and the parties to, the various contracts involved in an auction transaction, (ii) failed to recognize the purpose, and the beneficiaries, of bidder qualification provisions, and (iii) embraced an inverse offer and acceptance sequence supposedly applicable to absolute auctions but not to auctions with reserve (elevating what should have been errant dicta to unnecessary holding that is inconsistent with applicable West Virginia statutes). The author suggests a contractual approach to unambiguously articulate the rights and responsibilities of various auction participants to step out of the unfortunate shadow cast by Leach.

I hope this finds you well. As you can see, this newsletter bundle is a unique concept that I had to create due to the urgency needed to get this into the mail due to our timeline and time constraints. With that being said, I want to encourage you to get excited to join us for the upcoming 2022 CAA Convention that we will be having the first weekend of February. Want to Register and PAY at the Convention? No Problem. Just print out the registration form, mail it in, send me a quick email of a phone call and let me know. BUT..... Don’t Miss Out on the Discounted Hotel Room Rate and get your reservation made TODAY! Have any questions, just give me a call. ~ Cissy admin@coauctioneers.com or (303) 729-1195

George has a dedicated auction law practice, regularly representing auctioneers and auction companies on all legal aspects affecting the auction industry, including: contracts; litigation; administrative law; licensing and disciplinary matters; online auctions; intellectual property; business purchases and sales; land use; real estate; environmental issues; oil, gas, and mineral rights; federal and state restrictions on the sale of certain property (including taxidermy and firearms); sales tax; Uniform Commercial Code; succession planning; ethics; best practices; and risk management. Recognizing the significant impact of technology on the auction industry (and on the law as it relates to the auction industry) George monitors technological and legal developments affecting the industry. George also helps auctioneers and auction companies identify, manage, and reduce risk while educating sellers and buyers and protecting commissions, premiums, and fees

THIRD / FOURTH QUARTER • 2021 www.coloradoauctioneers.org

Merry Christmas

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Visit AuctionLook.com for more information

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Chaplain’s Corner CHAPLAIN’S CORNER By John Schaffner As I write this article we are nearing the end of 2021. This has been a year that most of us would rather not repeat any time soon. Several in the CAA have lost family members this year or have dealt with health issues of one kind or another themselves. My own family has not been exempt from problems. At the end of August two of my granddaughters were involved in a tragic car accident resulting in one of them being life flighted to Children’s Hospital in Denver where she stayed for two months. She continues to recover at home. At about the same time my wife and I were looking forward to the birth of our fifth great grandchild, but something happened and he was stillborn at thirty-one weeks.

TAKE ME BACK O, take me back to the good old days. Back when people had better ways. When a handshake was as good as gold, For makin’ deals when things were bought and sold. Back when a man’s word was always good, And ya knew he’d do just what he said he would. When a man held the door for a lady ‘cuz that was the thing to do. Then he’d smile and tip his hat while she was passin’ through. Back when people did the neighborly thing, Like gatherin’ on Saturday night to pick and sing.

When people sat on the porch to visit and watch the sun go down, However, it seems like auctioneers are resilient by And your neighbor was everybody else in town. nature and we realize that through it all God loves us and works for the best outcome for us. Back when kids respected their elders includin’ mom and dad, But, health and accident issues haven’t been all CAA And family togetherness was the most important thing members dealt with in 2021. The COVID pandemic anybody had. has continued to affect our businesses. Add to that the unrest and “wokeness” that is happening in our beloved When you could leave yer windows and doors unlocked country. Through all that, I still believe that the United at night, States Of America is the only place I would want to And sleep without worry ‘cuz ya knew everything live, even though I think it would be nice to go back to would be alright. better days and better ways. I want to share with you a poem along that line that I wrote several years ago. Back when a man’s eye was only for his lovin’ wife, And when a couple got married they were married for life. When a prayer could be said in a public school, And everyone tried to live by the Golden Rule. Back when the Bible was held in high regard, And people loved God even when times were hard. Yes, let’s all go back to those better ways, Where courtesy is common, and honesty always pays. John Schaffner

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© 3/22/92

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Hall of Fame Induction

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Jim Odle Inducted into the NAA Hall Of Fame

mentor of mine once said, “true hell would be to meet the person you could have been.” The gentleman I am about to introduce does not have to worry about that. He was born on Feb 2, Groundhog Day and Punxsutawney Phil may have seen his shadow, but I don’t think he has ever stood still long enough to see his shadow. The reason I say that is, we have always heard its God 1st, Family 2nd, and Business 3rd. Many of us have succeeded in one of those areas or maybe two but no one I know has been more successful in all 3 than him. God ….He saw a need for services for those that were too rural or in the hospital or for some other reason could not get to church. So he became the executive producer of a Cowboy Church TV that is seen two national cable channels has 4 services and is viewed by millions. The executive producer's biggest priority is making sure there is enough money to complete the project either through an independent financing or by financing it themselves which he did. He was asked to speak at a state auctioneer convention and had this prayer printed in his handout. Dear Lord So far I’ve done alright. I haven’t gossiped haven’t lost my temper, haven’t been greedy, grumpy, nasty, selfish, or overindulgent, I’m glad about that. But in a few minutes, God, I’m getting out of bed. And from then on, I’m going to need a lot more help. Amen. He believed in God first.

11 great grandchildren. Those early years farming years were tough and after getting hailed out 2 years in a row he had to start working to provide for his family, He worked in the back of the local livestock barn while continuing to farm. The barn let him sell a few calves and in 1962 he hired his classmates’ father to sell his beet equipment he told him he would like to sell hoping he would let him sell a few items instead the auctioneer had him sell every 3rd item and hired him that same year, putting him into the auction business and bringing us to the 3rd area of life and the reason we are inducting him this evening. Business He became an accomplished livestock auctioneer, winning two regional World Livestock Auctioneer Championships, owning 3 different livestock market sale barns and at the National Western considered the Super Bowl of livestock shows, as it hosts nearly 20 breeds, he sold a record 26 separate auctions. In 1972, he partnered in what became a tremendous farm & RE auction company. At its peak in one year conducting 326 auctions in 26 states including Alaska. During this time, he perfected the techniques and business details of auctions for his partner had time to be crowned World Livestock Auctioneer and was elected to serve as NAA president in 1979. Speaking of 79 that’s the year they conducted the 1st video cattle auctions. Think about that 1979 – Fax took about 3 min per page to transmit and machine cost more than avg home, Interest rates were over 15%, the Dow was under 1,000 at 845 and videos we currently do with a

Family At the 1st of his senior year, he asked a female classmate, that’s father was the leading auctioneer in town, to ask her dad if there would be an opportunity for a young auctioneer in the area. She came back the next day and said, “Dad told me there is not a place in the world that an auctioneer could work there is just too many already.” A few years later he got married, started farming and 62 years later - they have 4 children -13 grandchildren &

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– continued from page 13

Hall of Fame Induction continued..... cell phone took 2 people and 2 huge pieces of equipment a camera and a separate recorder. The introduction of a combined camera/recorder or Camcorder was not until 1983, the same year recognized as birth of internet. So 4 years before the internet he conducted a video auction the true beginning of technology-based auctions.

Shawn Hagler & Shelby Shuman Crowned Champions.....

In 1986 Jim sold his interest in the equipment auction but retained the video cattle auction sector and teamed with the owner of my hometowns Livestock Auction. While conducting video cattle auctions via satellite was not that convincing to many in the industry, they took the risk. They combined competitive bidding with modern technology and as video & satellite technology advanced and the Internet became a viable tool, he implemented it into the business model creating a nationwide livestock market for America’s cattlemen. This Superior Livestock Company started with only 15 employees and reps in 6 states and has grown to about 400 team members in all 50 states and selling 38 million head of cattle since inception. Jim was the driving force in advancing this company to its prominence in the livestock marketing industry. And he has hired (5), that I know of, World Livestock Champions and (1) IAC Champion. Jim is no rookie at receiving awards 1972 World Livestock Auctioneer Central Region Champion 1978 World Livestock Auctioneer Western Region Champion 1995 Inductee into the Colorado Auctioneer Hall of Fame 1997 Record Stockman’s Man of the Year in Livestock 2006 National Cattlemen’s Foundation Beef Industry “Vision Award” 2012 Texas Cowboy Hall of Fame 2015 Colorado Agriculture Hall of Fame 2017 Livestock Publications Council “Headliner Award” 2018 National Cowboy & Western Heritage Museum’s “Hall of Great Westerners” 2019 Cattle Feeders Hall of Fame “Leadership Award”

y a D e l & u n M o i 1 p 2 20 Cham egrass u d l n B n o Gra of the i p m e a tl h t C a B th u o Y

And tonight… Jim Odle is a 2021 National Auctioneers Hall of Fame inductee. Excerpt of Jim Odle’s Hall of Fame Induction as written / delivered by Spanky Assiter at the 2021 NAA Conference. 14

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Teetering on attending the 2022 CAA Convention? ...consider these thoughts:

Why should I attend? – Each year I talk with members about our annual conference and I’m asked, “Why should I go? What will I get out of it? What does the CAA do for me?” Generally, my answer is rhetorical in the sense that, “Why shouldn’t you go? The conference is packed with educational, networking, professional and strategic opportunities.” There is more content and experience inside looking out than looking in from the outside. The association is your collective voice in regard to the auction industy and we need to continue to come together as The Association that represents the us in the State of Colorado. Several Education Opportunities – Everyone can learn, from the first time attendees to experienced auctioneers. Keeping up to date on education, current trends, products, rules and regulations that can have a huge impact on your future auction results. The education opportunities available at the conference can expose you to new ways or a new direction of conducting business and help you to discover how to be more productive and profitable. Networking – It’s often stated that valuable resources, referrals and business ideas are shared at the conference. Networking with other auctioneers can help each other with interesting ideas and information. Auctioneers who have been in the business for years are a great source for knowledge and information. Vendor and Supplier Interaction – It’s a great opportunity to see what the vendors have to offer, ask questions and get some one-on-one training. Don’t be shy or feel awkward at the vendor tables; they’re here to support us. Of course, the vendors want your business and through interactions and listening you will hear the differences in similar products that give you the ability to discuss business face-to-face. There’s also the possibility that you may learn why others in the auction industry use the products they use. Modern products for your business can move you ahead of the competition. Have FUN – Many enjoy the annual gathering and use it to reconnect friendships that have evolved through years of attendance. Just relax and have fun. Having the ability to do something you enjoy as a career is an opportunity that very few will ever experience. Embrace it to it’s fullest potential. Take the good with the bad and remember that there is always opportunity for fun. The conference is intended to add social value into auction education. Never underestimate the power of fun when learning.

Cissy Tabor, Executive Secretary

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MILE HIGH AUCTIONEER OPEN BID CALLING CONTEST ONEY M E Z I PR ED Contest Rules

D AWAR00.00

$10,0

1. OPEN TO ALL AUCTIONEERS OVER 18 - limited to 30 contestants. No Interview. 2. Entry fee: $300, plus contestants bring 3 items with a minimum value of $100 each, subject to approval, to be sold in the Preliminary Round. The aggregate sales total of the three items each contestant sells should be no less than $300.00. 3. Top 5 (based on Preliminary Round points) will compete in a Final’s Round. Finalists will sell two items, which will be provided by Colorado Auctioneers Foundation (CAF) and the Mile High Auctioneer (MHA) Committee. 4. All contestants will compete together with no separate divisions. Contestants will be judged according to the Mile High Auctioneers Open scorecard criteria. The decision of the judges is final. There will be 5 Champion Judges. 5. The selling order of contestants will be established by random draw, which shall take place prior to January 22nd. Roll Call will take place and contestant selling order will be announced during a mandatory meeting at 2:30 PM on the day of the contest. All items must be checked in by 2:00 PM before the meeting. Contestants that do not check their items in by 2:00 PM or do not attend the mandatory meeting at 2:30 PM will be ineligible and fees will be non-refundable. 6. Preliminary Round scores will be used only to determine the top 5 contestants who go into the Finals Round. The Finalist’s scores will start fresh in the Final’s Round. Preliminary Tie Breaker: (1st) Best Score in Bid Calling Category, (2nd) Best Score in Overall Impression Category. FINALS Tie Breaker: (1st) Highest Total Preliminary Score, (2nd) Highest Score in Bid Calling Category. 7. Contest will be videoed and live streamed. Contestants authorize and waive all rights for compensation or royalties, for use of any and all video, Internet, audio, photos, etc. as footage for promotional use by the CAF, the MHA Committee and the Colorado Auctioneers Association (CAA) to highlight the event and any future event. Any revisions or changes announced on the day of contest will take precedence over any printed material. 8. The Mile High Auctioneer committee or authorized designees will set the sound system and may adjust to benefit the contest. The MHA Committee reserves the right to accept or reject any contestant’s entry into the contest. 9. Attire: Professional / Professional Western Questions can be forwarded to: OJ Pratt, ojpratt@pacificauction.com

TO REGISTER: THIRD / QUARTER FOURTH QUARTER thecoloradoauctioneer www.coloradoauctioneers.org www.coloradoauctioneers.org thecoloradoauctioneer FOURTH • 2019 • 2021 www.coauctioneers.com/foundation


Building Your Commercial Real Estate Business

There are a couple of concepts you should know if you want to expand in this niche.

T

raditionally, commercial real estate is defined as any non-residential property used for commercial profitmaking purposes. T. Kyle Swicegood, CAI, BAS, GPPA, has an alternate definition. “I believe it could also be called commercial property, investment or income property,” Swicegood said during a recent NAA iSeries webinar, “which refers to buildings or land intended to generate a profit, either from capital gains or rental income.” Swicegood is an authority on the topic of commercial real estate as he’s had a career in it going on nearly 30 years. He started as a real estate broker in 1991 and shortly thereafter began investing in property, residential and commercial. He developed, built, leased and later sold a 41,000-squarefoot retail shopping center before jumping into the auction business in 2009. Swicegood claims the two best career decisions he made was earning his Certified Commercial Investment Member credentials and his CAI. “I saw the light and got my auctioneer license,” Swicegood said during the webinar. “I have fallen in love with the trade.” Swicegood said the two concepts he wanted to impart with his session involve gaining a better understanding of capitalization rates and the 1031 section of the IRS code, which covers tax deferments. “It’s boring stuff,” he conceded, “but (they are) important ideas and concepts you can use to make money for your clients. And when you make money for your clients, you make money for yourself.” Commercial buyers are looking for cash flow and an upside, he said. They want to make enough income on a monthly basis to pay debt or generate an income. Furthermore, they want the asset they buy today to be worth more money tomorrow. With that in mind, Swicegood said it’s important that commercial real estate auctioneers are knowledgeable about the capitalization rate, often referred to as the “cap rate.” There are a number of variations, but the most common calculation is the ratio between the net operating income (NOI) produced by the asset, and the original capital cost, also called purchase cost. NOI is a calculation used to analyze real estate investments that generate income. Per Swicegood’s example, if a commercial property has 12 units that are rented out at

By James Myers, Contributor

$1,200 a month, that’s a gross income of $172,800 per year. However, you have to subtract operating expenses, which includes an estimated vacancy rate, management costs, and other expenses that bring the total down significantly to a net operating income of something closer to $111,740. “Decision are made on the knowledge of net operating income,” Swicegood said. “Take the NOI and the use the cap rate of 10 percent, you would consider paying $1,117,400. If it’s a risky investment, you can up the cap rate to 12 percent, which means you’d be willing to pay $931,166.” Swicegood notes that cap rates are determined by the market, but when getting involved as a buyer, seller or auctioneer representing a seller, “you need to have an idea what the NOI of an asset is and what the going cap rates are for similar properties.” And this is why it’s good to make friends with appraisers, he said. “Become friends with a lot of commercial appraisers,” he advised. The second issue Swicegood covered in his session involves the 1031 IRS code, which allows investors to sell a property and reinvest the proceeds in a new property with the capital gains taxes being deferred. But the law says the tax deferment on capital gains only applies when that money is used to purchase a “like kind asset or assets.” “That basically means you have to sell an income producing property for an income producing property,” he said. Swicegood cautions that in order to do this, the money from a sale can’t be touched. When the property is sold, the money needs to go to a qualified intermediary, which is usually a title company. Furthermore, there are time limits. For example, a seller has 45 days after the sale to identify properties that they are willing to invest in. Then, they have 145 more days to close the deal on one or more of those properties. “The government is letting you use your tax money to reinvest and expand your estate,” he said. During the Q&A session following his presentation, one webinar participant new to the process asked how they could find sellers of commercial real estate properties. Swicegood recommended starting out at “your tax office, getting engaged. ICSC (International Council of Shopping Centers) is a great way of finding developers. Go to your GIS and do a little research.” This excerpt material first appeared in Auction eNews of the National Auctioneers Association and was approved for reprint.

THIRD / FOURTH QUARTER • 2021 www.coloradoauctioneers.org

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Did You Know? We began using a Text

Messaging in 2020 and we want to make sure that we connect with our members by giving updates, notices and reminders. The originating phone number for the CAA Text Messaging is (816) 226-5743. As you can seein the pic below, I have added this number to my cell phone as such. Not getting the text messages? Make sure that you have your membership profile updated with the correct mobile number for you. This service is provided within our association website as a benefit to us, the CAA, and through the back-end of our website, is where I compose and send the text messages to our members.

D

o you get CAA text messages? Is your membership profile updated?

>>>> Check out this text message sent last month from CAA!

(816) 226-5743

What is happening with the CAA? Keep Updated on the CAA website (CAA Events or CAA Convention pages) or on our Colorado Auctioneers Association Facebook page

YOU’VE GOT MAIL!

But most don’t know it! We’re lucky by “standards.” Only 35 - 40% of CAA email blast messages are actually opened. Check your Junk / SPAM mailbox.

Update your email address and your mobile number on your CAA membership profile. These are the fastest & easiest ways for us to communicate with you, our members! THIRD / FOURTH QUARTER • 2021 18 thecoloradoauctioneer www.coloradoauctioneers.org Thank you, Cissy


Competition

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REAL ESTATE • BUSINESS LIQUIDATION PERSONAL PROPERTY Eric Arrington Auctioneer Cell: (970) 623-9161 eric@theauctionteam.com Graig Medvesk Auctioneer Cell: (970) 629-9520 graigmedvesk@hotmail.com

1610 Hwy 50 Grand Junction, Colorado 81503 (970) 245-1185 w w w. t h e au c t i o n t e a m . c o m

Reach more donors than ever by hosting a hybrid event Combine elements of a live gala with virtual participation. Adapt to suit your audience, budget and techhnology. Learn more at greatergiving.com/en/ hybrid-fundraising-events

greatergiving.com 22

800.276.5992

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NAA Conference

THIRD / FOURTH QUARTER • 2021 www.coloradoauctioneers.org

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1,200+ UNITS WEEKLY!

THIRD / FOURTH QUARTER • 2021 thecoloradoauctioneer www.coloradoauctioneers.org


COLORADO AUCTIONEERS ASSOCIATION

2022 Membership Renewal January 1, 2022 - December 31, 2022

MEMBER INFORMATION

NAME __________________________________________________________DATE______________________ COMPANY _________________________________________________________________________________ MAILING ADDRESS __________________________________________________________________________ CITY / STATE / ZIP ___________________________________________________________________________ PHONE (home/work) _______________________________ (cell) ____________________________________ EMAIL __________________________________________ WEB SITE ________________________________ PROFESSIONAL DESIGNATIONS: ____________________________

NAA MEMBER

YES

NO (CIRCLE)

LIST MEMBERSHIP IN OTHER STATE AUCTIONEER ASSN ____________________________________________

MEMBERSHIP TYPE AND OPTIONS

AMOUNT

Active Member (annual). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DUES

“any person who is actively engaged in directly facilitating the auction method of marketing for profit” This includes bid-calling auctioneers and auction business owners.

$100.00

Membership includes unlimited posting of Auctions on the CAA website.

Associate Member. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . DUES

“any person who is engaged in supporting the auction method of marketing” This includes auction staff members and auction-related businesses, including vendors. Does not include unlimited posting of Auctions on the CAA website.

$ 35.00

By completing and submitting this form, I hereby renew membership in the Colorado Auctioneers Association, Inc. I will abide by its Bylaws, support its objectives, comply with the CAA’s Code of Ethics and pay the established dues. Signature ______________________________________________________________________________________________

PAYMENT INFORMATION Check # _____________________

NOTE: All credit cards will be charged a 5% credit card processing fee. Total Amount Paid $________________

MC _____ VISA ____ Discover ____

Credit Card # ____________________________________________Total $ ___________ Card Exp: _____________CSV:______ Name on Card ___________________________________________________________________________________________ Address of Card Holder _____________________________________________________________________________________

COMPLETE FORM AND RETURN WITH PAYMENT Mail Payment: Colorado Auctioneers Association PO Box 1133 Rifle, CO 81650 ~ Email: admin@coauctioneers.com ~

Credit Card Information Accepted By Phone - OR - Online at website (Join / Renew) Web Site: www.coloradoauctioneers.org

For Questions Contact: Cissy Tabor, Executive Secretary (303) 729-1195 *Email: admin@coauctioneers.com

THIRD to / FOURTH QUARTERAuctioneers • 2021 www.coloradoauctioneers.org thecoloradoauctioneer Tax deductible contributions or gifts should be made payable the Colorado Association Foundation 501(c)(3).

Rev 11-01-2021


Dear CAA Member, A signed copy of the CAA Code of Ethics must be on file at CAA headquarters to retain membership. Please take the time to fully read the following CAA Code of Ethics. Then sign and return this form to CAA with your membership form and dues. SIGNATURE DATE

CAA CODE OF ETHICS PART 1 - PROFESSIONAL RELATIONSHIPS Article 1 In the best interest of the public, of his fellow Auctioneers and of his own business, the Auctioneer should be loyal to the Colorado Auctioneers Association. Article 2 The Auctioneer should so conduct his business as to avoid disputes with his fellow Auctioneers, but in the event of a controversy between two Auctioneers who are members of the Colorado Auctioneers Association, he should not resort to a law suit, but submit his difference to arbitration by the Colorado Auctioneers Association, and the decision of such arbitration should be accepted as final and binding. If the dispute should be with a non-member, he should offer the services of this Board to arbitrate. Article 3 Where a member is charged with unethical practice, he should promptly and voluntarily place all the pertinent facts before the proper committee for investigation and report. Article 4 A member should never publicly criticize a competitor, and where an opinion is especially requested, it should be rendered in conformity with strict professional courtesy and dignity. Article 5 A member should not solicit the services of an employee of a fellow Auctioneer without his knowledge and consent. Article 6 In the best interest of society, of his associates, and of his own business, the Auctioneer should at all times be loyal to the Colorado Auctioneers Association and active in its works, and he should willingly share with his fellow members the lessons of his experience.

PART II - RELATION TO CLIENTS Article 7 In justice of those who place their interests in his hands, the Auctioneer should endeavor to keep abreast of business conditions, to keep informed in matters of law and proposed legislation affecting such interests, so as to give intelligent business advice and effective service. Article 8 In accepting the sale of real or personal property, the member pledges himself to be fair to both seller and buyer, and to protect the owner's interest as he would his own. Article 9 When consulted for an appraisal of value or liquidation problem, a member should give a well considered opinion, reflecting expert knowledge and sound judgment, taking requisite time for study, inquiry, and deliberation. His counsel represents a professional service which he should render in writing and for which he should make a reasonable charge. A member should not undertake to give an appraisal or offer an opinion on any proposition on which he has a direct or even indirect interest, without a full disclosure of such interest. Article 10 Before accepting a sale it is the duty of the Auctioneer to advise the owner intelligently and honestly regarding the market value of the business or proposition and the reasonable chance of selling at value or above. PART III - RELATIONS TO THE PUBLIC Article 11 It is the duty of every member to protect the public against fraud, misrepresentation or unethical practices in connection with the sale, disposal or liquidation of any real or personal property the Auctioneer is called upon to dispose of at public auction. Article 12 It is the duty of a member to ascertain all pertinent facts concerning every sale for which he is engaged, so that in offering he may avoid error, exaggeration and misrepresentation. Article 13 An Auctioneer is a confidential trustee of the information given by the seller or gained by him through relationship and the Auctioneer must never disclose the gross receipts of a sale or any other information that would tend to be a violation of the profession. Article 14 No special conditions, real or assumed, or inducements or directions from anyone relieve the member from his responsibility strictly to observe the Code of Ethics in this letter and spirit.

THIRD / FOURTH QUARTER • 2021 thecoloradoauctioneer www.coloradoauctioneers.org Rev 11/13/2012


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Colorado Auctioneers Association PO Box 1133 Rifle, CO 81650 (303) 729-1195 www.coauctioneers.com

The Colorado Auctioneer Newsletter is published quarterly, to serve as a communication tool between association meetings. Members are encouraged to submit news tips, stories, ideas for future publications and article requests. Please contact:: Cissy Tabor, Executive Secretary • admin@coauctioneers.com • (303) 729-1195

2022 Industry Calendar December 2021 February 2022

NAA Designation Academy CAA Annual Convention December 5 - 11, 2021 February 3 - 6, 2022 Las Vegas, NV Renaissance Stapleton Hotel Denver, CO

January 2022

Mile High Auctioneer Open NAA Digital Marketing Summit January 22, 2022 February 21 - 22, 2022 National Western Stock Show Springhill Suites Stockyards Denver, CO Ft Worth, TX 28

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