Real Estate and Retail

Auctioneer expands on 40 acres

January 9, 2014
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Auctioneer expands on 40 acres
One of the three buildings at the 40-acre Repocast.com Auction Center in Wayland. Courtesy Repocast.com

A national auctioneer is expanding into a 38,000-square-foot warehouse and auction center.

Repocast.com, an online auction affiliate of Bryon Center-based Miedema Asset Management Group, said this week that it has purchased the former farm equipment auction space of Stamm Equipment Co. in Wayland, which was owned by John and Betty Stamm, who purchased the property in 1973.

The property, at 3450 12th St., was purchased privately through the seller and Miedema for an undisclosed sum.

Repocast.com Wayland Auction Center

The site is nestled on 40 acres of land and has three different buildings with 38,000 square feet of indoor storage space. It will now be called the Repocast.com Wayland Auction Center.

Part of the center will also undergo remodeling to create an office space for about eight full-time staff who will be housed at the center, said Sid Miedema, CEO of Miedema Asset Management Group.

The company is also looking to hire sales people, appraisers and warehouse workers, Miedema said.

Anyone looking to apply for a job can go to Miedema's Byron Center location or visit the company online.

Auctions and warehouse

The Wayland auction center will be used to house and display heavy equipment, construction equipment, trucks and trailers for online auctions, Miedema said.

The center will host two auctions a month for a variety of items like semi-trucks, trailers, construction equipment, RVs, watercraft, power sports equipment and more.

Miedema said the first Tuesday of the month is the heavy-equipment auction, and the last Tuesday of the month is the auction for trucks and trailers.

The center is going to be “an online auction venue . . . more like a warehouse,” Miedema said. “Typically, what would happen is we have all the items there, so people can come and look at them, and then auction online.”

The center’s first auction, a semi-truck and trailer auction, will be on Jan. 28.

The auction center will be open Monday through Friday, 9 a.m.-4 p.m., and by appointment only on Saturday.

Expansion

The Wayland auction center purchase was a must, because not only will it help the company get tremendous exposure by the highway, but it will also allow the company to handle a large amount of new business, Miedema said.

“There’s enough capacity that we could probably double our business,” Miedema said.

At Miedema’s Byron Center facility, the company can handle about 30 to 40 trucks and trailers, and at Wayland, the company can handle about 200 or possibly more.

The purchase is also another step in the expansion plans of Miedema Asset Management Group.

Miedema bought its second location in Flint in 2012, making the Wayland purchase its third location for the growing business.

Down the road, Miedema hopes to expand into other states.

That expansion process will certainly be helped by Repocast.com, which was created in 1999 and has since conducted thousands of auctions online, selling more than 1.6 million items.

About 70 percent of the auction buyers are from Michigan, Miedema said, signaling the growing demand for online auctions.

“Online auctions are gaining more of the market share,” Miedema said. “The reason is because it’s so much more convenient for the buyer. A lot of guys maybe find it hard to be away.”  

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