Balster’s Implement Auction – September 15, 16 and 17

Filed as: Past Auction, Past Equipment Auction, Past Personal Property Auction, Past Real Estate Auction, Past Specialty Auction 
Posted on: Thursday, August 25th, 2011

When: September 15, 16 and 17, 2011, 9am
Where: Scotch Grove, IA
Terms: Cash, Visa, MasterCard, 13% Buyer’s Premium Onsite, 16% Buyer’s Premium Online, Applicable Sales Tax on Inventory of Balster’s Implement and Parts

Selling the entire contents and real estate of a rural american town, including the implement dealer, gas station, lumber yard, grocery store, engine repair shop, and more!

This fantastic auction is conducted in conjunction with Grafe Auction of the Balster’s Implement and Parts Company of Scotch Grove, Iowa. Balster’s Implement started in business in the 1870s and grew their business enterprises to include a grocery store, hardware store, gas station, implement dealer, lumber yard, blacksmith shop, merchantile and several additional enterprises.

The auctions will feature four auction rings all day each day and one ring will be made available live online with simulcast bidding. All the items you will find in this auction and the live auctions are from the business enterprises in Scotch Grove and include new old stock farm implements, tools, vintage household, store displays, oil cans, petroliana, paper advertising, and much more. Plus, we will sell all the Balster’s Implement real estate holdings in Scotch Grove, Iowa. Watch our website and the website of Grafe Auction for regular updates about the auctions.

This is the Best Preserved Historic 1930?s Small Town in Iowa, and it and all it’s contents will sell at absolute auction to you at your price!

As details about what will be sold on what day and in what ring are finalized, we’ll continue to update this page. Please continue to check back. We have a large crew onsite working to catalog and organize this fantastic auction. In the meantime, for more information about the history of the family, please be sure to review the press release about the Balster’s auction!

Important Information
Daily Auction Schedule: Each day the auction will begin at 9am Central from Ring 1. Terms, conditions, and any special announcements will be made from this ring and you are strongly encouraged to be in attendance each morning. Shortly after 9am Rings 2, 3 and 4 will begin selling. Each ring will sell until they’ve completely sold the items designated for sale that day. It is anticipated that the rings will end around approximately 6pm each day. Every day, Rings 2, 3 and 4 will include a session of small items, medium sized items on pallets and clean out of one or two buildings.
Registration: Buyers will be asked to register at the registration area and will need to provide a photo identification at the time of registration.
Parking Information: Parking is available on E-17 to the East and West of the auction site along the side of the road. Parking is also available on Hwy 38 North and South of the auction site provided the entire vehicle and any trailer is parked completely on the shoulder. A parking lot for cars only and no trailers is located just northeast of the auction site directly east of the seed company. Trucks, trailers and semis are encouraged to park at Camp Courageous located 2 miles north of the auction site on Hwy 38. A free shuttle service will be provided throughout the day.
Secure Storage: A secure, fenced storage area will be located to the northeast of the auction site. Buyers will have the ability to place their items in this area throughout the auction for secure storage.
Payment: Buyers are encouraged to make payment each day via cash, check, Visa or MasterCard. Payment will be necessary prior to removing your items from the auction site.
Checkout/Removal: Each auction ring is a secure fenced area. Items purchased each day must be removed from the respective fenced auction ring area. Items not removed will be considered abandoned and resold the next day. Please use the secure storage area for storage of your items if you require temporary storage of your items. There will be no truck, trailer or semi loading on the auction site that would interfere with the conduct of the auction. Removal of items will be on auction days into the evenings and Sunday, Monday and Tuesday 7am to 6pm.
Trucking/Shipping: Trucking and shipping services will be provided by Key City Transport of Dubuque, Iowa. Representatives will be on location Thursday, Friday and Saturday during auction hours to assist you with your needs.
Historical Tent: There will be a tent on the auction site where you will be able to visit with the family, view historical information about the family and Balster’s Implements and Parts, and sign a guest book. In addition, live radio broadcasts will be broadcast from this location.
Seating: There will be limited seating in each auction ring. Buyers are encouraged to bring their own lawn chairs or stadium chairs.
Weather: The vast majority of the items will be sold under tents and in buildings. However, please come prepared for the appropriate seasonal weather as some items will be sold under the sky.
Food and Restrooms: Several food vendors will be located throughout the auction premises for your convenience. In addition, there will be 25 restrooms with handicap accessible.
Online Bidding: Live simulcast online bidding is being provided on all major items which are sold in Ring 1 each day. This will enable buyers to participate in the auction without attending the auction in person. Purchases made online will be secured by our staff daily in a secure location separate from on site purchases.

Real Estate Information
Parcel 1
Excellent corner location with great hwy view, plenty of area for improvements & additions. The gas station may need more rehabbing that is economical but out buildings provide plenty of storage & income space prior to rehab.

Parcel 2
This is Balsters’ corporate office, primarily a brick and mortar structure with plenty of sq ft. for any commercial use including offices, restaurants, retail or wholesale locations. This property will continue to hold its value for many years.

Parcel 3
This excellent building has many uses on its own and should be looked at by anyone seeking commercial, retail or storage space.

Parcel 4
This is a great corner lot with retail, wholesale and residential options. The buildings are in great condition with great income potential.

Parcel 5
This parcel is part of a proposed division of property that would allow for commercial development and additional residential property. We believe these 4 buildings offer a great combination of uses for any retail, commercial or industrial use.

Parcel 6
This parcel may be involved with a change in property lines and will be advertised subject to survey. These are 4 residential homes that offer a buyer immediate rental or development options with separate 2-car garage.

Parcel 7
This property is on the West side of Hwy 38 and was originally used for coal and grain storage for a railroad that is no longer in place. This parcel would make a excellent historical site for the community.

Day One
Ring 1, Day 1
Ring 1, Day 1 Online Bidding
(7) Parcels of Multi-Use Real Estate
1932 Packard Roadster
Restored Tractors
DeLaval Cream Separators Sign
Advertising Displays
Advertising Signs
Farm Implements

Ring 2, Day 1
Warehouse No. 9 and No. 7
Implement Parts
Bushel Baskets
Fencing Wire

Ring 3, Day 1
Warehouse No. 5
Blacksmith Shop
Nuts and Bolts Building
Implement Parts
Step Ladders
Bushel Baskets

Ring 4, Day 1
Lumber Yard – Building No. 11
Implement Parts
Small Engine Parts

Day Two
Ring 1, Day 2

Ring 1, Day 2 Online Bidding
Petroliana Collectibles
Large Amount of Advertising Paper
Advertising Stoneware
Watt Ware
Complete Soda Fountain
Toys and Games in Original Boxes
Brass Cash Registers

Ring 2, Day 2
Hydraulic Shop – Warehouse No. 4
Implement Parts

Ring 3, Day 2
Warehouse 10
Brass Fittings
Elevator and Silo Parts
Implement Parts
Fencing Wire

Ring 4, Day 2
Building 3A Annex Building
Briggs and Stratton Building
Sickle Parts
Plow Shears
Implement Parts
Engine Parts
Household Appliances, New in Box

Day Three
Ring 1, Day 3
Ring 1, Day 3 Online Bidding
Plow Shears
Balster’s Advertising

Ring 2, Day 3
Warehouse No. 12 – Carriage House
Bolts and Hardware
Malleable Chain
Implement Parts

Ring 3, Day 3
Warehouse No. 1 – Blacksmith Shop
Fencing Wire
Hydraulic Parts
Implement Parts

Ring 4, Day 3
Warehouse No. 3 – Corporate Office
Assortment of Parts and Hardware
Sickle Building
Corporate Office
Implement Parts
Engine Parts
Malleable Chain

Personal Property Auction Terms
Complete payment day of sale: Cash or certified funds. Checks must be accompanied by a current bank letter of guarantee. No property removed until fully settled for. After the auctioneer has sold an item, it becomes the sole responsibility of the purchaser. All items are sold as is and where is. Any announcements made day of sale take precedence over printed material. Onsite: 13% buyers premium/fee in effect (3% discount for cash/guaranteed funds). Online: 16% buyer’s premium.

Real Estate Terms and Conditions
Earnest Money: The sum of Ten Thousand Dollars ($10,000.00) US Funds per parcel, shall be deposited as earnest money by the high bidder in the trust account of Grafe Auction/Realty, Inc. but to be returned to the Seller if the Buyer fails to perform pursuant to the Purchase Agreement. Therefore, the earnest money is non-refundable. An earnest money deposit is required for the real estate.
Buyer’s Premium: A ten percent (10%) buyer’s premium will be added to the high bid price to equal the contract price used in the purchase agreement. For example, a bid price of $100,000.00 would equal a contract price of $110,000.00 ($100,000 + $10,000).
Terms: This is a cash sale, due and payable at time of closing. Successful bidder will enter into a standard Iowa Purchase Agreement. It will be at the Auctioneer’s discretion as to the increments of bids and process to reach the top and final bid. Any financing arrangements (mortgage or otherwise), if necessary, should be made prior to the auction. The property is sold without contingencies. Real Estate Taxes will be prorated to the date of closing based on current certified taxes.
Closing: Remaining balance due on or before the the date of closing within 30 days of close of auction.
Preview of the property is recommended prior to the auction! All information was gathered from sources deemed to be reliable, however, is not guaranteed. All bidders are urged to conduct your own inspection and verification. All properties are offered As-Is condition.
Agency Disclosure: Grafe Auction/Realty, Inc. is the Seller’s agent.
Reservations: Property is sold subject to easements of record, and is being sold in as-is condition.
Broker Participation: Broker participation is welcomed. Grafe Auction/Realty will pay at closing a 3% commission of the high bid price to the broker who registers the successful buyer of this property. A broker participation form is located on our website.