The Crop Circle Phenomenon

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An aerial view of crop circle created in farm fields

Ever wonder who or maybe what is responsible for those strange crop circles that mysteriously appear in fields across the world? Crop circle enthusiasts have come up with many theories about what creates the patterns, ranging from the plausible to the absurd. Some people have suggested that localized and precise wind patterns somehow create the circles. Others suggest that the answer lies in time travel or alien life, and many who favor an extraterrestrial explanation claim that aliens physically make the patterns themselves. Still, others believe that it is human, not extraterrestrial, thought and intelligence behind the patterns.

While there are countless theories, humans are the only known, proven cause of crop circles. Their origin remained a mystery until September 1991, when two men confessed that they had created the patterns for decades as a prank to make people think UFOs had landed. They never claimed to have made all the circles, as many were copycat pranks done by others, but their hoax launched the crop circle phenomena. While most crop circles are now attributed to hoaxers, crop circle researchers still search for those that cannot be explained, “genuine crop circles” as they refer to them.  

At Smith & Co Auction & Realty, we can guarantee the purchase of crop circle-free land. Selling everything from farm machinery to 5200+ acre ranches, we are Northwest Oklahoma and Kansas’s choice for all your land auctions and real estate needs without extraterrestrial intrusions.

Contact us at (580)254-3975 to learn more about our auction services!

Unique Items That Sell Well at Auction

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selective focus of auctioneer holding gavel and pointing with finger at buyer during auction

It’s fair to assume that common auction items like antiques, cars, artwork, or land will see fast sales at auction, but what about those not-so-common items, the rarities that attract curious eyes and a heaping profit? Items that leave you scratching your head, wondering how people got their hands on these interesting finds. 

Here are a few unique items that guarantee a nice and profitable sale at auction! 

Skeletons

A surprisingly large number of people look for animal skeletons or bones in online auctions to add to their collection of creatures that once roamed the earth. Collect enough individual bones for a species, and you could complete a skeletal puzzle right at home. If you feel a little weary by such a purchase, rest assured that many people use these unique auction items for education and research purposes!

Celebrity Belongings

There is a large market for anything to do with celebrities because of our society’s obsession with the rich and famous. Some of the most sought-after items include locks of celebrity hair, articles of clothing, and other personal belongings. You can even find items that celebrities briefly interacted with, such as bus tickets, hairbrushes, or toenail clippers.

Taxidermy

While preserving the body of a dead animal may or may not be something you’re interested in, there’s no denying the high demand for taxidermy pieces in auctions. The people who buy these items look for the most realistic recreations of living wildlife available. Whether you’re looking for a fierce bear or a graceful deer, you can find one that’s preserved forever at auction.

Ancient Alcohol

A rare, well-aged wine, beer, or liquor can go for thousands of dollars at an auction. One source for these beverages is the sea floor — shipwrecks can be a treasure trove of liquid gold, and some alcohol found is still drinkable!

No matter what unique items you choose to sell at auction, Smith & Co Auction & Realty is the place to go. We hold hundreds of auctions a year, from online to in-person, selling everything from land and minerals to personal property. 

Contact us today at (580)254-3975 to inquire about buying or selling some unique and profitable items at auction!  

How to Succeed at Buying Land at an Auction

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A land auction offers one of the easiest ways to invest in property. The process is very straightforward, and every potential buyer is placed on a level playing field. Here are a few things to know in order to be successful at your next land auction!

Research and be prepared

Someone Bought Land through an AuctionOften, the team of real estate agents that are running the land auction will gather information about the property and make it available to you prior to the auction. Read up on this extensive summary of the land and plan a visit before the day comes to make your bid.

Have a look around the neighborhood and research the property values of nearby land. This will help you decipher the value of the land you’re looking to buy. It will also help you determine your budget and what you’re willing to spend before attending the auction.

A land auction is beneficial for the buyer and the seller

Going into a land auction, you should know that you really can’t lose. Everyone in attendance has a fair shot of obtaining the land and you will never have to pay more than the land is worth, which protects the buyer’s wallet. If you’re a seller, you can set a reserve price which is a minimum amount unknown to the bidders. This ensures that you do not lose on your investment.

Find a land auction near you

Smith & Co. Auction & Realty deliver 100-125 live auctions a year to Northwest Oklahoma, selling everything from residential real estate to industrial equipment. Browse our list of upcoming auctions of land from 160 to 3100 acres large! Call us at 580-254-3975 today to speak to one of our experts and learn how we can help you set the best price for your land!

A Guide to Live Auction Etiquette

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Planning on attending a live auction but unsure of the proper etiquette? Read on for some helpful tips so that you’ll be ready to start bidding!

People putting up bids at an auctionDo: Bid for what you want

Only bid for items you really want to win. Try not to get caught up in the excitement and bid on something you’re not interested in knowing that someone will bid after you; it will only raise the price higher for the people who really want the item. If you respect other bidders, they will be more courteous when you place your bid on your item of interest.

Don’t: Bid just to raise the price

Like stated above, it’s rude and bad etiquette to bid just to raise the price. Bidding to hurt someone else’s bank account will only cause resentment.

Do: Organize and prepare your budget

Know what you are willing to spend and conduct some research before attending the auction. This way you’ll be prepared with money in hand to get a good price on the item you want to bid on. This is especially important when it comes to real estate auctions where money may be due at the time of purchase or within the next few days.

Don’t: Talk badly about items

Often at auctions, sellers are nearby to witness what their items sell for. Don’t be disrespectful by bad mouthing the items.

Smith & Co. Auction & Realty sells everything from farm machinery to 3100-acre ranches. Browse our upcoming auctions or give us a call at 580-254-3975 to learn more!

The Most Expensive MLB Memorabilia Ever Sold at Auction

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baseball stadium under roof view with fans

With the weather warming up, it’s time to start playing America’s pastime—baseball. This sport has been reenergized when it comes to the collectible market. Over the past few decades, some incredible pieces of MLB memorabilia have been auctioned off.

Here are a few of the most expensive MLB memorabilia items sold at auction!

Mark McGwire’s 70th Home Run Ball

In the summer of 1998, Mark McGwire and Sammy Sosa were competing to break the single-season home run record of 61 held by Roger Maris. McGwire outlasted Sosa, hitting a then-record 70 home runs. A fan, Phil Ozersky ended up with the 70th home run ball, which he sold at auction through Guernsey’s for $3 million in 1999. Comic book creator Todd McFarlane purchased the ball. The combination of Barry Bonds hitting 73 home runs in 2001 and McGwire admitting to using steroids years later factored into the value of McGwire’s home run ball plummeting to around $250,000-$300,000.

“Laws of Baseball” Document

Daniel Lucius “Doc” Adams wrote a document titled “Laws of Base Ball,” which became the foundation of the American game we know today. The precious document was sold for $3.26 million by SCP Auctions in 2016. According to ESPN, the document was written in 1857 and stipulated that the ball can’t weigh less than 5¾ ounces, and the bat could be of any length but no more than 2½ inches at its widest part. The document also mentioned the game was to use four bases, 30 yards apart, with each base being one square foot.

Babe Ruth’s 1927 World Series Ring

The 1927 World Series championship ring was awarded to Babe Ruth. The ring was engraved “G H Ruth” for his given name of George Herman Ruth. Actor Charlie Sheen acquired the ring in the early 1990s, and it was sold at auction in mid-2017 for almost $2.1 million.  

Lou Gehrig 1937 Yankees Jersey

A Lou Gehrig jersey worn during the 1937 season went for $2.58 million through Heritage Auctions in 2019. The SCG-authenticated gray button-down jersey originally belonged to a family that had received it as a gift from former Yankees general manager George Weiss. Gehrig was the first MLB player ever to have his jersey number retired.

At Smith & Co Auction & Realty, we constantly hold auctions filled with high-value items. Along with our regular land, real estate, and industrial equipment auctions, we often have consignment or estate auctions that include a long list of unique items and sports memorabilia. 

Contact us today at  (580)254-3975 to learn more about our upcoming auctions! 

Why Do Properties Go Up for Auction?

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A row of coins on a small house model and a law auction hammer

While it’s true that some homes that go to auction are a result of a foreclosure or bankruptcy, most of the property sold at auction has no financial distress and is direct for sellers who have chosen the auction method. For many years, auction has been a preferred method for selling agricultural and rural properties, estates, and senior transitions. Across the United States, more and more pieces of residential, luxury, commercial, farm and ranch, and investment property is trading at auction.

Here are a few reasons properties are sold at auction and why many buyers prefer purchasing through auction.

Level Playing Field

An auction allows all buyers to participate under the same terms and conditions. No buyer has an advantage over another based upon if they are getting financing, asking for inspections, home warranty, early possession, or any other contingencies. Auction eliminates the closed-door negotiations that can leave some buyers at a disadvantage.

Transparency

When buying at auction, you know exactly where you stand. You’re the top bidder, or you are not. In markets where sellers are experiencing multiple offers, the buyers are usually left in the dark. When you make an offer on a property in the traditional market, you don’t know how you compare to the other offers on the table, but it is very clear at auction if you are in the lead.

Clearer Understanding of Price

We have all heard the term “market value,” but how do you determine true market value? Is it what the real estate agent says? An appraiser? Tax assessor? Those are all professional estimates and tools to give an approximate value, but true market value is what the public is willing to pay for a property. When marketed effectively and open to all members of the public, an auction is a true form of price discovery. Buyers can feel comfortable they didn’t overpay for a property when they know there are others in the market just one bid away.

At Smith & Co Auction & Realty, we hold over 100 live auctions a year for land, agricultural, business liquidation, residential real estate, and more! We are professionally trained to make your auction the best that it can be, and we even offer online-only auctions. 

Contact us today at (580)254-3975 to learn more about our auction and real estate services!

Four Benefits of Buying Heavy Equipment at an Auction

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Tools and Equipment Auctions in OKPurchasing the right heavy equipment is no small feat. It can be difficult to find the exact equipment you need for an upcoming construction project or farming plan, especially at the time and price tag you want it at. That’s where buying heavy equipment at an auction can come in handy.

Prices that will fit your budget

We know it’s the truth: your project or farm could get by with one or two pieces of heavy equipment, but what it really needs is X, Y, and Z, too. At an auction, you can stretch those equipment expense dollars far beyond what you’d be able to do with any retail or seller. Find equipment at more affordable prices, and be open to bargain, too!

More choices at an equipment auction

One of the best parts of auctioning is that a buyer gets to see every option that’s on the table. With heavy equipment, that means older models, alternative types of equipment, or several items that could get the job done. It’s all about choices—and at auctions, you have plenty of them.

Know your seller at an auction

This might seem simple, but in an age where online sellers can remain anonymous, it’s worth every second of your time. At auctions, you’re dealing with in-person sellers who know this heavy equipment better than anyone—professionals who can tell you its value, its age, and the market price it’s being sold against. This is the sort of information you’ll want to have before making that next heavy equipment purchase.

Heavy equipment on demand

In many instances, you don’t have the days or weeks at your disposal to place an order and hope the heavy equipment comes in on time. However, at an auction, you won’t leave empty-handed—offering buyers more flexibility with their purchases. Don’t waste time any longer!

If you’re on the hunt for tools, heavy equipment and more, Smith & Co. Auction & Realty is on the job. On Saturday, April 28th, we have a live on-site auction with a hefty sale bill of tools, heavy equipment and vehicles ripe for the buy. If you don’t live nearby, online bidding is available. Call us at 580-254-3975 for more information and make sure to check out a list of our upcoming auctions!

Common Myths About Real Estate Auctions Debunked

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Arrow with word Fact breaks word Myth.

Real estate auctions are becoming more and more popular because they offer good deals on various properties in a consumer-friendly environment. Whether you’re selling real estate or land at auction, you’re bound to have some preconceived notions about the process.

Here are some of the most popular misconceptions about real estate auctions debunked!

Myth: If you sell a property at auction, you will have to accept a lower price.  

Fact: A professionally marketed and conducted auction places buyers on an equal playing field, and they compete to determine who will be the winner and own the property. This process lets the seller know when to trade the property and saves them the long-term carrying costs they would otherwise have with ownership, including taxes and maintenance.

Myth: Buying a farm or ranch at auction is risky because they are sold “as is.” 

Fact: Purchasing a property at auction typically carries less risk than making an offer on a private offering. At an auction, the contracts are prepared before the bidding begins. Therefore, the only question regarding the negotiation is the bid price. The condition of the property is not hidden from the potential buyers. A professional real estate auction company will utilize disclosure forms and encourage real estate auction sellers to disclose all known defects or issues with the property. 

Myth: You need to find time to attend the auction

Fact: One of the most common misconceptions about auctioning properties is that they all must be sold at a live auction at a particular location. Thanks to modern technology, this isn’t true anymore. Many property auctions happen online, so you can watch the bids go up from the comfort of your living room.

Myth: Selling by auction will be more stressful and expensive

Fact: Selling at auction means you’re more likely to sell your property quickly with a fixed, realistic time frame and swift completion. Selling at auction also encourages competitive bidding and tends to drive up the price of your property!

At Smith & Co Auction & Realty, we believe in the auction process. We have been serving Northwest Oklahoma and surrounding areas for over 30 years selling everything from farm machinery to 5200+ acre ranches. You can trust our professional staff to get the best offers on your property! 

Please browse our website to view our most current auctions and real estate listings, or call us at (580)254-3975 to learn more about our services!  

Top Tips for Buying Used Farm Equipment at Auction

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Farmer driving small used tractor he bought at auction for soil cultivation.

There are many great reasons to buy used farm equipment from an auction, but there are certain things you need to consider to have a great buying experience. Regardless of the type of equipment you are looking for, there are unspoken rules among auctioneers and bidders. Knowing these things will help you have a smooth bidding experience at the auction site.

Here are a few important things to remember when buying farm equipment at auction!

Assess Overall Appearance

If you plan on buying used machinery, it is crucial to check it for regular maintenance and assess its overall appearance. Look for dents and check if the paint is peeling off. These are good indications that the equipment has been stored outside for longer periods of time. See if the tires are worn by checking their tread and matching it against manufacturer standards.

Check the Engine’s Condition

If the farm equipment you plan to purchase has an engine, always check under the engine compartment. If possible, you can request to have the engine started to look for leaks and listen to find out if it is running smoothly. Also, ensure that it will comply with existing emission standard regulations for the type of engine the farm equipment has. You may also want to check the type of fuel it uses. Going for diesel-powered farm equipment and machinery is a practical choice because it is cheaper than gasoline machinery.

Check for Availability of Maintenance Documents

Before making a bid on a particular item of farm equipment, consider asking the seller or the auctioneer about the availability of maintenance logs and other pertinent documents or if there are any records of previous repairs. These documents can give you a better understanding of the quality of the equipment and the frequency of its repairs. The more you know about what you are buying, the better your chances of buying quality equipment that can last for a long time.

The most important thing you can do at an auction for used farm equipment is to ask questions before purchasing. Bidding at auctions can be a lot of fun, and if you do it right, you can certainly buy good-quality farm equipment at a much cheaper price.  

At Smith & Co Auction & Realty, we host professional in-person and online auctions. When purchasing used farm equipment at our auctions, you can ensure you’re getting your equipment at true market value. 

Call us today at (580)254-3975 to learn how you can purchase or sell used farm equipment in an upcoming auction!  

Rare Super Mario Bros. Video Game Sells for Over $100,000

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Gaming fanatic or not, you have heard of famed video game character Mario.

With his characteristic plumbing hat, overalls, and mustache, Mario quickly won the hearts of many and shot to heroic notoriety around the world almost instantly.

One of the most classic and known Nintendo Entertainment System (NES) games of all time, Super Mario Bros. was released in 1985 and changed the face of popular video games forever.

Super Mario Bros. hits the auction block

Recently, a group of collectors bought a mint condition original copy of the game for $100,150 at a Heritage Auctions sale.

This group of collectors joined together to make the record-breaking purchase.

They will share both ownership and bragging rights of the treasured game for years to come!

What’s so special about this particular copy?

The sold copy is unopened and very well preserved, looking practically new. The copy comes from one of Nintendo’s earliest test launches of the NES in New York and Los Angeles.

Nintendo reprinted the Super Mario Bros. game several times between 1985 and 1994 and the copy that sold at the auction was one of the first copies, matte sticker-sealed, with a seal rating of A++ and certified by Wata Games with 9.4 Near Mint grade.

This rare Super Mario Bros. game now exists as one of the most expensive copies of a game sold among professionally graded and certified games. With its important history and pristine condition, the game is a rare and exciting find for collectors.

First appearing in 1981 in the arcade game Donkey Kong, Mario is nearing almost 40 years of video and arcade game fame. As he continues to dominate the video game scene, collectors should stay on the lookout for more priceless Mario-themed games in the future.

Check back on the Smith & Co. Auction & Realty our blog for all the latest news in the auction industry! And to satisfy your live auction appetite, be sure to check out all of our upcoming live auctions in the Oklahoma area!