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Raine & Horne Rural Dubbo's machinery clearance sale nets vendor a remarkable $1 million

December 18, 2023

Raine & Horne Rural Dubbo recently achieved remarkable success with a $1 million machinery clearance sale hosted at the family-owned and operated cotton farm "Rockleigh," situated at Geurie, approximately 22 minutes southeast of Dubbo.

The Saturday, 2 December event featured a catalogue of over 100 farming machinery lots, ranging from pressure washers, quad bikes, tippers, to tractors and much more[i]. Remarkably, the day resulted in an 80% clearance of stock, surpassing the vendor's expectations with all lots selling above their anticipated values.

Mr Travis Wentriro, NSW Network Manager at Raine & Horne Rural, remarked, "This fantastic result shows that Raine & Horne Rural offices are equipped to hold machinery clearance sales and that our agents can adeptly manage both property and clearance sales.

“The event garnered substantial interest, with a diverse mix of local and interstate bidders, underlining the wide-reaching impact of Raine & Horne Rural Dubbo's marketing efforts.”

Nationwide interest peaks as skilled duo leads auction

The clearance auction, overseen by the energetic sales duo of Simon Scoles and Stuart Rae from Raine & Horne Rural Dubbo, drew extensive interest nationwide, with hundreds of enquiries and approximately 85 registered bidders present at the physical location and around 70 additional participants online.

Mr Scoles, with extensive experience in machinery sales at a prominent auction house before transitioning to rural real estate sales, conducted the onsite auction proceedings.

Auction success reflects adaptation of digital platforms

A notable 40% of successful bidders were online participants, showcasing the office's adaptability to modern sales methodologies, noted Mr Ken Mongan, Managing Director of Raine & Horne Rural Dubbo.

“Employing an innovative strategy, we utilised the online AuctionsPlus platform, enabling remote bidders to actively participate in the onsite auction.

“It certainly proved helpful, even for some of the older generations who prefer traditional methods. I believe they eventually embraced the idea that the online platform aided them rather than hindered their buying experience.”

Mr Mongan added that the clearance event not only underscored the leading rural office's proficiency in property sales but also highlighted its capability in efficiently managing asset clearances.

“It signifies our capability to handle diverse auctions and our commitment to delivering exceptional results for our clients,” he said.

“Without a doubt, there's an exciting opportunity for us to expand our presence and this was a fantastic exercise in brand awareness.”

Mr Mongan continued, “We have two highly experienced team members in Simon and Stuart who possess comprehensive knowledge not only of rural property sales but also the machinery side, including valuation and related elements.

Mr Scoles further underscored Raine & Horne Rural’s diverse skill set in managing such multifaceted sales events.

“The sales event featured an array of machinery and equipment, with several standout items contributing significantly to the success of the clearance.

“A mother bin, capable of holding substantial amounts of grain, sold for $95,000, while a Fendt 718 tractor fetched $200,000, among other high-value assets.

Reflecting on the accomplishment, Mr Scoles highlighted the significance of the clearing sale in not only generating $1 million in revenue but also in establishing connections within the local farming and landowner community.

“There was local 85 farmers all on the ground at the auction from this region of NSW and they're seeing Raine & Horne Rural branding everywhere. And a few of them made comments that it was a good day, and it all went really well,” Mr Scoles said.

"The vendor who had been on the farm for around 50 years expressed his satisfaction with the results too," noted Mr Scoles.

For all your rural and residential sales and property management needs in Dubbo and surrounding areas, contact Raine & Horne Dubbo on 02 6882 1755 or visit the office at the corner of Macquarie and Cobra Street, Dubbo.