Doing auctions differently: Harmon returns to farming roots with Dagger

CHS alum Ian Harmon drew from his agricultural roots when he returned to North Dakota a few years ago. After studying biology and chemistry at UND, he attempted to start a career as a marine biologist in San Diego, Calif.

As often happens, Harmon discovered that he had more connections in farming and agriculture than he did in zoos and marine mammals.

Now he's the Director of Acquisitions for Dagger Auctions, Inc., an Ada, Minn., based company that specializes in equipment sales. He worked as an AMS for Leading Edge Equipment and then a territory rep for Ag Growth International before landing his current position.

He is the son of James and Maria Harmon, who grow soybeans, wheat and corn on their farm four miles north of Carrington. His older brother, Brett, also farms with the family. The youngest, Kellen, works for KVLY in Fargo.

Ethan Sip, owner of Dagger Auctions, Inc., is also a farm boy who grew up outside of Ada, Minn. He started the company in his hometown in 2016. Dagger opened its Fargo office in 2020, and Harmon joined the company in January.

Sip said he chose the name Dagger for his company because daggers symbolize courage and daring, and are superior to other knives. "We're all about being strong, brave and making an impact, and also being a strong tool in our customer's pocket," he said.

As Director of Acquisitions, Harmon covers the U.S. searching for sellers with equipment to consign.

Dagger Machinery has two other physical locations, in Nashville, Tenn., and Dallas, Texas.

The machinery division sells equipment and also has mechanics on staff in Dallas and Fargo.

Harmon consigns individual pieces of equipment and also works with retiring farmers who wish to liquidate all their equipment.

The term equipment is broad, covering not only agriculture but also the forestry, construction, aviation and trucking industries. They have even consigned antiques.

As of Monday, the items for sale on their website, http://www.daggermachinery.com, included telehandlers, wheel loaders, planters, cultivators and a Ford F150 Lariat pickup.

Potential buyers can browse available equipment ahead of time, so they have time to research before bidding opens. As of Monday, there were several items on the site for which bidding was set to open on Wednesday, May 4. Typically there is a one-week window for bids, and the closing day for auction items is Wednesday.

Harmon says the online format opens up Dagger's auctions to a world of buyers. Whereas with the traditional format of live auctions, the seller relies on the pool of buyers who take the time to travel to an auction site to view items the day of the auction, online auctions allow buyers to "sit in the comfort of your own home and bid it up," Harmon said.

Dagger Auctions does a few things differently than other auction companies, Harmon noted. The first is their consignment model. Rather than charge the old standard seller's fee, where a percentage is subtracted from the sales price to pay the seller, they've found that auctions perform better with a "buyer's premium." In this scenario the fee to Dagger is paid by the buyer, in addition to his bid.

On the Dagger Auctions website, potential buyers have the opportunity to see the amount of the buyer's premium up front before bidding. The buyer's fee depends on the estimated value of the equipment, and is typically a percentage of the sales price.

For example, the buyer purchases a piece of equipment for $100,000. The buyer's fee is 10%, or $10,000. Therefore, the total cost to the buyer is $110,000.

The seller gets a check for the amount of the high bid, and Dagger keeps the $10,000.

Another thing that differentiates Dagger Machinery from its competition is the logistics services they offer. Harmon explained that a buyer can contract with Dagger to have the equipment delivered to his farm or business.

Consign with Dagger Auctions by contacting Harmon directly at (701) 809-5781 or email [email protected].