Keenan Auction Company

What Keenan Auction Company does

Keenan Auction Company is a privately held, family-owned auction and appraisal firm founded in 1972 in Northern Maine by Richard J. Keenan, now headquartered in Southern Maine and operating across the broader New England/Northeast region. The company conducts three core service lines: live and timed online real estate auctions (residential, commercial, multifamily, hospitality, and land including foreclosure mandates), public equipment auctions (woodworking, industrial, automotive, restaurant, construction, and marine assets), and USPAP-compliant personal property appraisals for financial institutions and government agencies. Transactional auctions are executed on-premises at property sites and through third-party online bidding platforms Proxibid and BidSpotter, with an 18% Buyer's Premium on equipment purchases and deposit-based participation requirements ($25K-$50K per parcel) for real estate auctions.

The firm is staffed by five full-time auctioneer/real estate brokers, including founder Richard J. Keenan and his sons Steven P. Keenan (Personal Property Division Manager) and Stefan P. Keenan (Real Estate Division Manager), all holding CAI, AARE, and/or GPPA designations from the Auction Marketing Institute. Over its 54-year history the company has executed more than 8,900 auctions, won the National Auction Association's Auction of the Year Grand Champion award in 2006, and counts Bank of America, TD Bank, KeyBank, regional Maine banks, the SBA, and several regional law firms among its named institutional clients. The underlying technology is intentionally lean: the firm relies on its website, email notifications, and third-party auction infrastructure rather than proprietary software, and revenue is generated through transaction-based commissions and appraisal fees with no disclosed recurring contracts.

Name

Keenan Auction Company

Legal name

Keenan Auction Company

Website

https://keenanauction.com

Company type

Private

Founded year

1972

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Auction Services

NAICS

Offices of Real Estate Agents and Brokers (5312), Offices of Real Estate Appraisers (531320)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Foreclosure/REO & Distressed Property Auctions (BPAJAEAF)

akta.pro secondary industries

Commercial Real Estate Auctions (BPAJAEAB), Residential Real Estate Auctions (BPAJAEAA), Bankruptcy, Probate & Estate Property Auctions (BPAJAEAG)

Keywords

• Real estate auctions
• Equipment auctions
• Personal property appraisals
• Auction services
• Foreclosure auctions

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Auction Commissions (Buyer's Premium): Standard auction commission model with 18% Buyer's Premium charged on winning bids. Revenue generated from successful auction transactions.
2. Real Estate Auctions: Conducting real estate foreclosure auctions and absolute auctions throughout the Northeast region for properties including residential, commercial, multifamily, hospitality, and land.
3. Equipment Auctions: Personal property auctions including woodworking equipment, automotive, restaurant equipment, construction equipment, marine vessels, and other commercial/industrial assets.
4. Appraisal Services: Personal property appraisals for financial institutions, SBA, and other clients. GPPA-certified appraisers provide valuation services for lending, estate, and liquidation purposes.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Keenan Auction Company conducts real estate auctions (residential, commercial, multifamily, lodging, land) and equipment auctions (woodworking, automotive, restaurant, construction, marine, industrial) across the New England/Northeast region. The firm also provides USPAP-compliant personal property appraisal services for financial institutions, government agencies, and businesses. Auctions are delivered both as live on-premises events and as timed online auctions via the Proxibid and BidSpotter platforms.

Product overview

Keenan Auction Company operates as a traditional auction firm offering three core service lines: Real Estate Auctions, Equipment Auctions, and Appraisal Division. The company conducts live onsite auctions as well as timed online auctions through third-party bidding platforms (Proxibid and BidSpotter). Their portfolio includes residential and commercial real estate auctions, industrial and personal property equipment auctions, and professional appraisal services for financial institutions. The company was founded in 1972 and serves the New England region, primarily Maine.

Differentiator

Problem solved

Functional benefit

Products and services

• Real Estate Auctions Live and timed online auctions for residential, commercial, and investment properties throughout New England, including foreclosure auctions, multi-family buildings, lodging complexes, and development land.
• Equipment Auctions Public timed online auctions for industrial equipment, woodworking machinery, automotive repair equipment, restaurant equipment, construction equipment, marine vessels, and personal property across various sectors.
• Appraisal Services Professional USPAP-compliant personal property appraisal services for financial institutions, small businesses, and multi-location manufacturing facilities, covering categories including woodworking, industrial manufacturing, metal fabrication, commercial marine, automotive, recreational marine, contractor equipment, heavy equipment, agriculture, medical, airline, food service, retail inventories, and miscellaneous items.

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Partnerships

Four partnerships are on record, tiered core.

• ProxibidcoreTechnology or IntegrationProxibid is an online bidding platform providing live internet bidding capabilities for Keenan Auction Company's timed online auctions. Bidders can view and register for auctions through the Proxibid platform, which handles the online auction infrastructure.
• BidSpottercoreTechnology or IntegrationBidSpotter provides additional online auction bidding platform options for Keenan Auction Company, offering bidders a choice of platforms for participating in timed online auctions.
• National Auction AssociationcoreOthersIndustry association membership providing credibility, professional standards, and networking opportunities. Founder Richard J. Keenan served as 10-year board member and 5-year Treasurer of NAA.
• Maine Auctioneers AssociationcoreOthersState-level industry association membership. Richard J. Keenan served as twice President of MAA, and other team members have served as Past President.

Scale indicators4 records

Expansion highlights3 records

Emerging players

• Xome: Online foreclosure auction platform offering real estate auction services to financial institutions. Emerging digital-native competitor to traditional regional auction houses like Keenan for bank-distressed-asset mandates.

Broad incumbents

• Auction.com (Ten-X): Major online real estate auction marketplace serving banks, asset managers, and individual sellers. Competes with Keenan for foreclosure and REO mandates but operates at national scale with proprietary digital platform.
• Ritchie Bros. Auctioneers (RB Global): Global leader in equipment and industrial asset auctions, operating massive timed online marketplaces. Comparable to Keenan's equipment auction business, though at vastly greater scale and with proprietary technology.

Direct peers

• DeCaro Auctions International: Specialist real estate auction firm focused on commercial, multifamily, and luxury property dispositions. Direct peer to Keenan's commercial real estate auction line, including hospitality assets such as the Steamboat Grand case.
• Williams & Williams Auctions: Real estate auction firm conducting live and online auctions of foreclosures, REO, and bank-owned properties. Comparable to Keenan's foreclosure auction concentration and banking-channel relationships.
• Tranzon Asset Advisors: Tranzon is a national network of real estate auction companies that conduct both live and online auctions of residential, commercial, and land assets. Comparable to Keenan in core service offering and target client base (banks, attorneys, estates), though operating across more U.S. geographies.
• Rick Levin & Associates: Commercial real estate auction firm serving banks, special servicers, and attorneys with distressed and note-sale auctions. Direct peer to Keenan's commercial real estate auction line and institutional client base.
• Alex Cooper Auctioneers: Mid-Atlantic-based auction firm conducting real estate and personal property auctions, including foreclosure and estate sales. Direct peer to Keenan given similar auction-house model serving banking and legal clients in a defined regional market.
• MGR Real Estate (formerly McCurdy Auction): Regional auction house conducting real estate and personal property auctions with both live and online bidding. Comparable business model and regional positioning to Keenan, with overlapping equipment and real estate auction offerings.

Others

• Bonhams Skinner: Appraisal and auction services firm covering fine art, antiques, and personal property. Comparable to Keenan's personal property appraisal and equipment auction divisions in professional appraisal methodology and auction format.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Keenan Auction Company