Category: News

What Is a Repossession Auction and How Does It Work?

Posted on by Marketing

What Is a Repossession Auction — and How Does It Work

If you’ve ever searched for a deal on a used car, truck, boat, or piece of equipment, you’ve probably come across the term “repossession auction” — or “repo auction” for short. But what exactly does that mean? Who’s selling? Who’s buying? And how do you get in on it?

This guide breaks down everything you need to know about repossession auctions: what they are, how the process works, what you can find, and how to participate — whether you’re a buyer looking for a deal or a seller looking to turn an asset into cash.

What Is a Repossession Auction?

A repossession auction is a public or online auction where repossessed assets — items reclaimed by a lender after a borrower defaults on a loan — are sold to the highest bidder. When someone stops making payments on a financed vehicle, piece of equipment, or other collateral, the lender (typically a bank, credit union, or finance company) has the legal right to repossess that asset. Rather than holding onto it, the lender needs to liquidate it — sell it as quickly as possible to recover the outstanding loan balance.

That’s where a repossession auction company like Repocast comes in. We act as the marketplace, handling the logistics, photography, listing, bidding, and payment process so the lender can move the asset efficiently and buyers can access it competitively.

What Gets Sold at a Repo Auction?

Almost anything that can be financed can end up at a repossession auction. At Repocast, our weekly auctions regularly feature:

– Cars, trucks, SUVs, and vans
– Motorcycles, ATVs, UTVs, and snowmobiles
– Boats, personal watercraft, and wave runners
– Campers, RVs, and travel trailers
– Semi trucks and commercial trailers
– Construction equipment — excavators, skid steers, loaders, lifts
– Farm and agricultural equipment
– Industrial machinery and manufacturing equipment
– Electronics, tools, and general merchandise

In addition to repossessed assets, many auction companies — including Repocast — also accept consignment items from businesses and individuals. So while “repossession auction” refers to the original model, the platform has grown to include all kinds of surplus and liquidation assets alongside the repo inventory.

Who Are the Sellers at a Repossession Auction?

The sellers at a repossession auction are typically:

– Banks and credit unions — the most common source; they repossess collateral from defaulted auto, equipment, and recreational vehicle loans
– Finance companies and leasing firms — especially in the commercial equipment and trucking space
– Buy-here-pay-here dealerships — smaller auto dealers who finance in-house and need to recoup losses on defaults
– Government agencies and municipalities — selling surplus fleet vehicles and equipment through the same auction platform
– Businesses and individuals — consigning items for sale alongside the repo inventory

At Repocast, we work with all of these seller types. Each goes through our standard intake process: items are inspected, photographed, described, and listed on the platform ahead of the auction window.

How Does a Repossession Auction Work — Step by Step?

For Sellers:

1. The lender repossesses the asset and/or contacts Repocast to discuss third party repossession options.
2. The asset is delivered to one of our four Michigan auction facilities.
3. Our team photographs the item, notes condition details, and creates a listing on bid.repocast.com.
4. The item is assigned to an upcoming auction and goes live for bidding on a timed schedule.
5. Bidding closes, the high bidder wins, payment is collected, and the seller receives their proceeds.

For Buyers:

1. Create a free account at bid.repocast.com and complete the registration process.
2. Browse upcoming auctions and add items to your watchlist.
3. Review photos, condition notes, and lot details. In-person previews are available at all four of our facilities before auction close.
4. Place your bids during the auction window. Lots use timed bidding with automatic extensions — if a bid is placed in the final minutes, the clock resets so no one gets sniped.
5. If you win, you’ll receive instructions for payment and pickup.

Why Choose Repocast for Your Next Auction?

Repocast has been running repossession and consignment auctions for over 40 years under the Miedema family of companies. We operate four auction facilities across Michigan — in Byron Center, Wayland, Ortonville, and Gaylord — and run weekly online auctions with thousands of lots per week.

Our platform is built for auctions, not adapted from something else. That means fast, transparent bidding, clear lot photography, and a support team that actually picks up the phone. Whether you’re a first-time bidder or an experienced buyer, a single-item seller or a financial institution liquidating a portfolio — Repocast is the platform built for you.

Ready to get started? Register for free at bid.repocast.com, browse upcoming auctions, and place your first bid.
Or if you’re looking to sell, visit repocast.com/contact or call 866-550-7376 to talk to our team.

Repocast.com is a division of Miedema Auctioneering, Inc., a family of auction and asset management companies headquartered in Byron Center, Michigan. With over 40 years of experience and four Michigan locations, Repocast specializes in online repossession, consignment, and specialty auctions serving individuals, businesses, financial institutions, and government agencies nationwide. Learn more at Repocast.com.

How to Get the Best ROI When Selling Through Auction

Posted on by Juliet Meyer

How to Get the Best ROI When Selling Through Auction

When businesses and individuals choose to sell through Repocast.com, they’re looking for one thing: strong, reliable results. The auction method is one of the fastest and most effective ways to turn assets into cash, and at Repocast.com, maximizing ROI is built into every step of our process. While sellers don’t list their own items, there are still keyways they can help set the stage for success, while our team handles the heavy lifting behind the scenes.

Here’s how to get the most value when selling through Repocast.com.

Share Accurate Information with Our Team

The more details our team has, the more confident buyers feel, and confident buyers bid higher.
When you bring items to us or when we come onsite, providing clear information helps us create accurate listings. Useful details include:

  • Hours or mileage
  • Service history
  • Known issues
  • Accessories or attachments
  • Operational status

Our staff takes it from there – inspecting, testing when possible, and building a listing that gives buyers everything they need.

Trust the Power of Timing and Buyer Demand

Our weekly online auctions attract thousands of active buyers, and our marketing team analyzes trends to determine how different categories perform throughout the year.
When our team understands your timeline and goals, we help position your assets during times of peak demand to boost ROI. Whether it’s construction equipment, vehicles, tools, or recreational items, timing can make a measurable difference.

Leverage Our Marketing Power

Repocast.com is part of Miedema Asset Management Group, giving every seller access to:

  • A massive and active buyer base
  • Targeted email marketing
  • Paid digital advertising
  • Social media promotion
  • Industry-specific outreach

Our marketing strategy brings qualified buyers straight to your auction items, increasing competition and maximizing their value.

A Professional Team That Works for Your Results

Our staff handles the entire process from cataloging to marketing to loadout, so sellers don’t have to worry about managing listings or dealing with buyers.
With decades of auction experience, we know how to position assets to achieve strong returns. Sellers simply provide access to the items and the information we need; we do the rest.

The best ROI comes from a combination of accurate information, high-quality presentation, and the power of Repocast.com’s buyer network. With our team managing every detail, sellers can expect a smooth, efficient process and strong bidding activity.

Contact us today!

The Rise of Construction and Heavy Equipment Auctions

Posted on by Juliet Meyer

The Rise of Construction and Heavy Equipment Auctions

Over the past decade, the construction industry has experienced massive shifts from fluctuating supply chains to rapid technological advancements and rising equipment costs. As contractors, builders, and fleet managers look for smarter ways to source machinery, construction and heavy equipment auctions have surged in popularity. At Repocast.com, we’ve seen this growth firsthand, and it’s reshaping how equipment is bought and sold across the nation.

Below, we explore the key reasons behind this rise and why more professionals than ever are turning online auction platforms to meet their equipment needs.

Rising Equipment Costs Are Driving Buyers to Look for Alternatives

Brand-new construction equipment comes with a substantial price tag. With inflation impacting manufacturing and materials, even mid-sized machinery can cost tens of thousands more than it did just a few years ago.

Auctions offer a powerful alternative:

  • Access to quality pre-owned machinery
  • Significant cost savings compared to dealer retail
  • Faster replacement timelines for essential equipment

For contractors managing tight budgets, or needing an unexpected replacement, auctions provide a fast, practical solution.

Online Auctions Have Made Buying More Convenient Than Ever

What once required travel, time, and in-person inspections can now be completed from a laptop or phone. Repocast.com has been at the forefront of this shift with:

  • Weekly online auctions featuring hundreds of heavy equipment assets
  • Detailed descriptions, photos, and inspection opportunities
  • User-friendly bidding tools
  • Secure payment and pickup processes

This convenience has opened the door for nationwide buyers who previously couldn’t access Michigan-based industrial assets.

Rapid Industry Turnover Means More Equipment Hits the Market

Construction companies cycle equipment faster than ever due to:

  • Expanding project demands
  • Technology updates
  • Efficiency-focused fleet management
  • Economic ups and downs

As businesses update their fleets, everything from skid steers to excavators and work trucks ends up in the secondary market. Auctions help companies liquidate quickly while giving buyers access to a steady supply of machinery.

Repossessions and Bank-Owned Assets Boost Inventory

Repocast.com works closely with financial institutions, lending groups, and leasing companies, meaning we frequently offer repossessed or off-lease equipment. This consistent pipeline is one of the biggest reasons heavy equipment auctions continue to grow.

Sellers Benefit from Fast, Competitive Market Exposure

It’s not just buyers fueling the trend. Sellers, farmers, municipalities, and banks are actively choosing auction platforms because they offer:

  • Rapid asset recovery
  • Low overhead compared to private sales
  • A nationwide audience of qualified buyers
  • Fair market value driven by competitive bidding

Instead of equipment sitting idle, auctions help sellers turn assets into cash quickly.

What This Means for the Future of Heavy Equipment Auctions

As the construction industry continues to evolve, auctions will play an even larger role in equipment sourcing and fleet management. Buyers get affordability and access. Sellers get speed and market reach. And platforms like Repocast.com provide the trusted, transparent marketplace both sides need.

Whether you’re looking to buy your next excavator or sell a surplus fleet, Repocast.com is here to connect you with a marketplace built on reliability, competition, and real value.

CLICK HERE to view our upcoming Construction and Heavy Equipment Auctions.

Miedema’s 2025 Review

Posted on by Juliet Meyer

Miedema's 2025 Review

2025 was a meaningful year for Miedema Asset Management Group, made possible by the trust of our clients and the commitment of our teams. Through our family of companies – Miedema Auctioneering, Repocast, OrbitBid, RangerBid, LastBid RealEstate, Miedema Appraisals, and SSL Firearms – we had the opportunity to support sellers and buyers across a wide range of asset types and industries.

Over the course of the year, we facilitated 370+ auctions, bringing together 854,000+ registered bidders who placed more than 4 million bids, resulting in the successful sale of 239,000+ lots. These outcomes reflect the strong participation of our buyer community and the confidence sellers placed in our process.

We were grateful to work with bidders from 48 U.S. states and 5 countries, including Canada, India, Liberia, Mexico, and Sweden. Alongside our auction services, Miedema Appraisals completed 531 appraisals, reviewing 28,599 major assets, while our real estate teams helped guide the sale of more than 2,000 acres.

Throughout 2025, our teams conducted auctions across a broad mix of categories, including Construction, Industrial, Commercial and Residential Properties, Landscaping, Farm and Agricultural Equipment, Semi Trucks and Trailers, Firearms, Municipal Assets, Sport and Classic Cars, Powersports, Restaurant Equipment, Brewery, and Recreational Properties. This diversity reflects our ongoing effort to adapt to the unique needs of each client and asset.

As we reflect on the year, these results serve as a reminder that our success is shared with the customers, partners, and bidders who choose to work with us. Looking ahead, Miedema Asset Management Group remains committed to providing transparent, dependable, and results-focused solutions, while continuing to learn, improve, and serve.

To view a list of upcoming 2026 auctions, CLICK HERE

Repocast 2025: Third Quarter Recap

Posted on by Juliet Meyer

Repocast 2025: Third Quarter Recap

As we wrap up the third quarter of 2025, Repocast.com continues to demonstrate strong momentum across every category of our online auction platform. From everyday equipment to specialty assets, thousands of buyers and sellers have trusted Repocast to connect, compete, and close great deals this year.

Here’s a look at the numbers so far:

  • 44,271 items sold
  • Over 2.1 million bids placed
  • Bidders from 47 states, as well as Canada and Mexico
  • 171 total auctions conducted year-to-date

Repocast continues to grow its reach and performance, reflecting our commitment to providing transparent, accessible, and efficient online auctions for all types of assets.

Diverse Auctions, Powerful Results

Our auctions serve a wide range of industries and interests, keeping the marketplace active and diverse throughout the year. So far in 2025, Repocast has hosted:

  • 117 Weekly REPO, Truck, Trailer, Equipment, Auto, RV & More Auctions
  • 9 Construction & Heavy Equipment Auctions
  • 4 Industrial Machinery & Shop Equipment Auctions
  • 5 Lawn, Garden, Farm & Home Auctions
  • 6 Recreational Vehicle & Power Sports Auctions
  • 8 Restaurant Equipment Auctions
  • 8 Scratch & Dent Appliance Auctions
  • 10 Semi Truck & Trailer Auctions
  • 2 Sport & Classic Car Auctions
  • 1 American Rental Association Equipment Auction

Each event has brought thousands of buyers together, helping businesses and individuals alike find value and move inventory faster.

Looking Ahead

As we enter the final stretch of the year, the Miedema family and leadership team remain proud of the continued growth across all Miedema Asset Management Group companies.

“Overall 2025 has been an amazing year again – our companies have been blessed with sustained growth and expansion. We are looking forward to a strong finish for 2025 and look forward to everything 2026 has to offer to our clients and employees here at Miedema Asset Management Group.”
— Sid and Scott Miedema

Whether you’re looking to sell your equipment or you’re a buyer searching for quality items at competitive prices, Repocast.com continues to be your trusted auction platform. Loc

 Visit Repocast.com to bid, buy, or sell today.

Mid-Year Update

Posted on by Juliet Meyer

Mid-Year Update

mid-year update

Our mid-year update is in, and 2025 is shaping up to be another outstanding year for the Miedema Asset Management Group family of companies. Now that Q2 has officially ended, our year-to-date numbers are in, and they reflect our continued commitment to delivering results across all asset types, from residential real estate and farmland to commercial buildings, heavy equipment, and specialty items.

Here’s a quick look at our progress through the second quarter:

225 Auctions

122,731 Bidders

64,332 Lots Sold

1,821.5 Acres Sold

85 Properties Sold

320 Appraisals

As we move into Q3, our calendar is packed with exciting auction events, including real estate opportunities, seasonal equipment, and business liquidations. Whether you’re buying or selling, there’s never been a better time to engage with our team.

Thank you to our clients, bidders, and partners for your trust and continued participation, let’s keep this momentum going!

Explore Upcoming Auctions
Click HERE to view all current auctions and listings.

Contact Us

How To Buy at an Auction

Posted on by Juliet Meyer

How To Buy at an Auction

If you’re new to Repocast.com or just need a quick refresher, bidding on one of our online auctions is simple and convenient. Whether you’re after a repossessed vehicle, heavy equipment, boats, or surplus items, we’ve made the process straightforward so you can bid confidently from anywhere. Here’s everything you need to know to get started.

Step 1: Create or Log Into Your Account

To place a bid, first head over to bid.repocast.com.

  • Click on the “Login” link in the upper right-hand corner.
  • Don’t have an account yet? Click “Register” and follow the prompts to create one.

Step 2: Enter the Auction & Place Your Bid

  • Once logged in, browse or search for the auction containing the item you want.
  • Click on the item to go to its product page.
  • On the right-hand side, you’ll see a blue box labeled “Place Bid.” Enter your bid amount and click the button. That’s it—you’ve just placed a bid!

Understanding Bid Increments

Every auction has a bid increment, which is the minimum amount a bid must increase to be accepted.
For example:
If the current bid is $20 and the increment is $5, the next acceptable bid is $25.
If you enter more than the minimum increment, your bid will be treated as a maximum bid (more on that below).

What Is a Maximum Bid?

A maximum bid lets you enter the highest amount you’re willing to pay.
Here’s how it works:

  • You enter your max bid, say $100.
  • If the current bid is $50, your bid will be placed at the next increment (e.g., $55).
  • You’ll remain the highest bidder unless someone else bids above your maximum.

This helps automate your bidding, so you don’t have to watch the auction minute-by-minute.

Take Advantage of Pre-Bidding

Pre-bidding is a great tool if you can’t be online when the auction goes live.

  • You can place a maximum bid before the auction starts.
  • The system will bid on your behalf until your max bid is reached.
  • If your bid stays the highest, your name will appear as the leading bidder once the auction begins.

All Miedema Companies, including Repocast.com, offer this helpful feature.

Dynamic Bidding: Last-Minute Protection

Worried about someone swooping in with a last-second bid? Dynamic bidding has your back.
Here’s how it works:

  • If a bid is placed within the final 10 minutes of the auction, the closing time extends by another 10 minutes.
  • This continues until there are 10 full minutes of inactivity.
  • Example: An auction scheduled to end at 8:00 PM gets a bid at 7:50 PM → it extends to 8:10 PM. A new bid at 8:01 PM → now it ends at 8:20 PM.

This ensures a fair chance for all bidders and reduces the risk of last-second losses.

A Few Final Notes:

  • All bids are final and cannot be retracted. When you bid, you’re entering a legally binding agreement.
  • If you change your mind, you can freeze your bid, which may help you avoid winning the item—but there’s no guarantee.
  • Auction times are approximate and may change at the company’s discretion. Always bid early to avoid missing out.

Now that you know the ins and outs of bidding on Repocast.com, you’re ready to jump in! Browse current auctions, set your max bids, and score great deals—all from the comfort of your home.

Visit our calendar to view our upcoming auction list!

A Strong Start to the Year

Posted on by Juliet Meyer

A Strong Start to the Year

As we close out the first quarter of the year, we are excited to share some insights and milestones that have set a strong foundation for the months ahead. Our commitment to excellence, innovation, and customer satisfaction has driven impressive results, and we couldn’t have done it without our dedicated team and loyal customers.

Key Highlights from Q1

  • 59 auctions
  • $22,108,548 in sales
  • 85,078 bidders
  • Bidders from 47 different states, Canada and Mexio
    • AB, AL, AR, AZ, CA, CH, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KY, MA, MB, MC, MD, MI, MN, MO, MX, NA, NC, NE, HH, NJ, NL, NV, NY, OH, OK, ON, PA, SC, SK, TN, TX, UT, VA, VT, WA, WI, WY
  • 22,840 lots sold
  • 3,087 titled items
  • Types of auctions:
    • Weekly Thursday auctions across 4 locations
    • Industrial
    • Construction
    • Lawn, garden, farm and home
    • Restaurant equipment
    • Scratch and dent appliances
    • Semi-truck and trailer
    • American Rental Association of Michigan

Looking Ahead

With a solid Q1 performance, we are optimistic about the rest of the year. Our focus will remain on enhancing customer experience, expanding our reach, and growth.

We want to extend our gratitude to our customers, employees, and partners who make these achievements possible. We would also like to thank the Lord for His blessings and guidance in this first quarter. Here’s to another successful quarter ahead!

Stay tuned for more updates, and as always, thank you for being part of our journey.

To view a list of upcoming auctions, CLICK HERE

Buying a Vehicle at Auction

Posted on by Juliet Meyer

Buying a Vehicle at Auction

Purchasing a vehicle at an auction can be an exciting and rewarding experience, offering significant savings compared to traditional dealership prices. At Repocast, we specialize in connecting buyers with quality vehicles through our reliable online auctions. Here, we’ll walk you through the process of buying a vehicle at auction with us and share tips to make your experience smooth and successful.

Why Choose Repocast?

Repocast offers a trusted platform for our buyers and sellers. With competitive pricing and a wide selection of cars, trucks, SUVs and more, we make it easy for buyers to find exactly what they need. Our transparent auction process ensures you can bid confidently on the vehicles you want.

How to Buy a Vehicle at Auction on Repocast

  1. Create an Account: Start by registering on our website. Setting up an account is simple and gives you access to bid on thousands of vehicles.
  2. Browse the Inventory: Explore our extensive catalog of vehicles. Use filters like make, model, and mileage to narrow your search.
  3. Review Vehicle Details: Each vehicle listing includes detailed information, and photos. Take time to review these to understand the vehicle’s history and current condition.
  4. Inspect: We offer inspection opportunities where you can see the vehicles in person. This step can provide extra peace of mind.
  5. Set Your Budget: Decide on your maximum bid before the auction begins. Remember to factor in any additional fees, such as buyer’s premiums or transportation costs.
  6. Start Bidding: Once you’ve found the vehicle you want, place your bid. Keep an eye on the auction’s progress, as competition can heat up in the final minutes.
  7. Win Your Auction: If you have the highest bid when the auction closes, congratulations! You’ll receive detailed instructions on completing the payment and transferring ownership.
  8. Arrange Pickup or Delivery: After completing your purchase, coordinate pickup of your vehicle. Repocast offers convenient options to make this process easy.

Why Auctions Are a Great Choice for Vehicle Buyers

Buying at auction offers unique advantages over traditional dealerships. You can find vehicles at a fraction of their retail value, enjoy access to a wide variety of makes and models, and experience the thrill of competing for the best deal. Whether you’re looking for a daily driver, a work truck, or a weekend toy, Repocast has options to fit every need and budget.

Ready to find your next vehicle? Start browsing our auctions today at Repocast.com and discover the savings and excitement of buying at auction!

buying a vehicle at auction
buying a vehicle at auction
buying a vehicle at auction
View Upcoming Auctions

A Look Back at 2024

Posted on by Juliet Meyer

A Look Back at 2024

As 2024 ends, we’re taking a moment to reflect on an incredible year for our companies. This year, we’ve had the privilege of partnering with countless businesses and individuals to help them buy and sell with confidence, and the results speak for themselves. From semi-trucks to campers, construction equipment to appraisals, 2024 has been a year of milestones and growth. Let’s dive into some of the highlights!

A Record-Breaking Year for Semi-Truck and Transportation Auctions

Our commitment to serving the transportation industry has never been stronger. In 2024, we conducted 8 auctions for Semi-Truck/Trailer and Transportation, resulting in the sale of 200 trucks and 350 trailers. These auctions generated a remarkable $6.5 million in total sales, showcasing our ability to connect buyers and sellers effectively.

Vehicles Sold Across the Nation

2024 was a banner year for vehicle sales. This year, we successfully sold 11,249 vehicles through our platform. Each sale represents not only a transaction but also the trust our clients place in us to deliver exceptional results.

Reaching New Markets

This year, we expanded our reach like never before. We’re proud to have sold items into 41 different states and 9 different countries. This achievement highlights the nationwide demand for our services and the hard work of our team in facilitating seamless transactions across borders.

Expertise in Appraisals

In addition to auctions, our appraisal services have also been in high demand. In 2024, we conducted 526 appraisals across 40 different states in the U.S. Our appraisal team has worked tirelessly to provide accurate and reliable valuations, helping our clients make informed decisions.

Thank You for an Unforgettable Year

None of these achievements would have been possible without the support of our clients, partners, and team members. Whether you’ve worked with us to buy, sell, or appraise this year, we are incredibly grateful for the trust you’ve placed in us.

As we look ahead to 2025, we’re excited to build on this year’s successes and continue delivering the exceptional service you’ve come to expect from us. Here’s to another year of growth, innovation, and success—together!

Check out a list of our upcoming 2025 auctions HERE

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