HomeMy WebLinkAboutIR 7671 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 7671
January 12, 1993
To the Mayor and Members of the City Council
OPP*
Subject- 1992 EQUIPMENT AUCTION
The City Council agenda of January 12, 1993 includes an M&C requesting confirmation of the
results of the 1992 equipment auction conducted on November 14, 1992. This was the first auction
conducted by Miller&Miller/Rene'Bates Joint Venture. City Council previously instructed the
staff to report on the results of this auction and compare the results with those of the previous pro-
vider,Lone Star Auctioneers.
This auction consisted of seventy-two(72) rolling stock items,twenty-five (25) non-rolling stock
items and eighty-seven (87)pallets of obsolete parts. The auction produced proceeds of$136,902,
down significantly from prior years (1990--$217,735 and 1991=$428,157). It was also down from
the Equipment Services Division's anticipated value of$175,00 to$200,000. A comparison of
proceeds on particular types of equipment from this auction and the last two similar auctions is as
follows:
LONE STAR AUCTIONEER MILLER
1990 1991 1992
Vehicle Vehicle Vehicle
EQUIPMENT Age Amount Age Amount Age Amount
Police Sedan 2 $2,400 3 $3,500 6-9 $ 900
Interm. Sedan 7-8 1,600 5-8 1,800 5-10 1,100
Pickup 6-8 2,700 6 2,700 5-9 2,500
Refuse Truck 8-11 7,750 9 5,000 5-10 1,700
Dump Truck 10-15 4,150 8-11 3,775 6-11 1,700
The number of registered buyers was also down and,in the opinion of staff, a different type of buyer
was attracted to this auction with the 1992 buyer being less aggressive than those attending in prior
years. On several occasions only one bidder would bid on an item which allowed this buyer to
obtain reasonably good vehicles at extremely low prices. The number of registered buyers for the
three most recent auctions is as follows:
1990 1991 1992
190 buyers 181 buyers 123 buyers
The auction did proceed relatively smoothly and the minimum proceeds required by contract specifi-
cations were achieved. The next auction is expected to occur in June of 1993. If the Council should
require any additional information, staff will be prepared to respond.
OFFICIAL RECORD
'Bob Terrell CITY SSRUARY
City Manager H WORA, TEL
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ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS-