Steffes Group
- Company typePrivate
- Founded1960
- HeadquartersWest Fargo, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Steffes Group does
Steffes Group, Inc. is a privately held North Dakota-headquartered auction company founded in 1960 by Robert Steffes, specializing in the sale of agricultural equipment, livestock, construction equipment, transportation equipment, land and real estate, and specialty assets. The company operates a proprietary web-based auction platform at steffesgroup.com that supports timed online auctions with real-time bidding, live onsite auctions with optional online participation, and user account management — integrations with NextLot for webcast bidding and KotaPay for payment processing extend the platform's online capabilities. Geographically, Steffes runs physical operations across six US states (North Dakota, South Dakota, Minnesota, Iowa, Colorado, Kansas) with a representative network covering the Midwest and Rocky Mountain regions, and its auction listings are filterable for both US and Canadian events.
Steffes Group firmographics
Firmographics- Name
- Steffes Group
- Legal name
- Steffes Group, Inc.
- Website
- https://steffesgroup.com
- Company type
- Private
- Founded year
- 1960
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Steffes Group industry classification
Industry- Product category
- Auction Services
- SIC
- Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Residential Real Estate Auctions (BPAJAEAA)
- akta.pro secondary industries
- Luxury & High-Value Property Auctions (BPAJAEAE), Land & Farm/Ranch Real Estate Auctions (BPAJAEAD), Real Estate Auction Services (FSAEAJAL)
Keywords
Where Steffes Group is headquartered
LocationHeadquarters
- HQ city
- West Fargo
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Steffes Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Auction Buyer Fees: Revenue generated from buyer fees charged on auction purchases. A 10% buyer's fee with a maximum charge of $1,000 per item applies to timed online auctions and live auctions with online bidding. An additional 3% buyer's fee is charged for credit card payments on the full purchase amount.
- Titled Vehicle Document Fees: $55 document fee charged on all titled vehicle purchases, plus applicable sales tax on the entire sales price including buyer's fee.
- Equipment Financing Services: Steffes Finance provides financing solutions for auction purchases through partnership with Northland Capital Equipment Finance, offering loan calculators and payment plans for agricultural and construction equipment.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard buyer fee for all auction purchases |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
Steffes Group product offering
Product offeringCore offering
Steffes Group conducts public auctions of farm equipment, construction equipment, transportation equipment, land and real estate, and specialty items on behalf of third-party sellers. Auctions are delivered through both timed online-only events and live onsite auctions (often with online webcast bidding), complemented by related services such as Steffes Finance, transportation/logistics coordination, and asset valuations.
Product overview
Steffes Group operates as an auction company offering a comprehensive platform for land and equipment sales across multiple asset categories. The core offering consists of five main auction verticals: Agriculture, Construction, Transportation, Land & Real Estate, and Specialty Auctions, each conducted through timed online auctions or live onsite events. The company provides complementary service modules including Steffes Finance (equipment financing through Northland Capital partnership), Transport Services (third-party logistics coordination), and Valuations (equipment and land appraisal services). The platform is accessible via steffesgroup.com with user account registration for bidding, with services spanning the United States and Canada.
Differentiator
Problem solved
Functional benefit
Products and services
- Agricultural Equipment Auctions Public auctions of used farm equipment, machinery, and related assets consigned by agricultural sellers and purchased by farm operators and dealers; conducted via timed online and live onsite formats.
- Construction Equipment Auctions Public auctions of used construction equipment such as skid steers, excavators, loaders, and related heavy iron, for contractors, rental fleets, and equipment dealers.
- Transportation Equipment Auctions Public auctions of trucks, trailers, and other transportation equipment consigned by fleet operators and purchased by transportation buyers.
- Land & Real Estate Auctions Public auctions of farmland, ranchland, recreational property, and rural real estate for landowners, farmers, and investors.
- Specialty Auctions Public auctions of specialty items and asset categories beyond the firm's core agricultural, construction, transportation, and real estate lines.
- Timed Online Auctions Online-only auction format in which bidders place bids over a defined time window through Steffes' bidding platform, enabling remote participation without on-site attendance.
- Live Onsite Auctions Live, in-person auctions conducted at the seller's site or a designated auction location, often paired with webcast bidding to allow remote buyers to participate in real time.
- Steffes Finance Financing offering for buyers purchasing equipment through Steffes auctions, provided in partnership with third-party lenders to facilitate buyer transactions.
- Transport & Logistics Services Coordination of freight and heavy-equipment transport for buyers and sellers of consigned auction assets, leveraging third-party carriers.
- Asset Valuations Pre-sale appraisal and valuation services provided to prospective consigners to inform reserve pricing and auction strategy.
Quantifiable outcome
- Online auction attracted more than 20,000 bidders demonstrating strong market demand and bidder access
Companies that use Steffes Group
Customer profileNamed customers2 records
Segments5 records
Ideal customer profiles3 records
Steffes Group technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature3 records
Steffes Group partnerships and signals
Strategic signalScale indicators4 records
Recent moves7 records
Expansion highlights6 records
Steffes Group competitors and assessment
Company assessmentDirect peers
- TractorHouse: Largest online marketplace for new and used farm equipment, construction equipment, and trucks. Overlaps with Steffes as a listing and price-discovery channel for sellers considering auction vs. private sale.
- BigIron Auctions: Online-only auction platform for farm equipment, construction equipment, and trucks. Closely comparable business model — timed online auctions with similar buyer fee structure and target seller/buyer demographics in the US agricultural belt.
- Ritchie Bros. Auctioneers: Largest global auctioneer of heavy equipment, trucks, and agricultural assets. Directly competes with Steffes across construction, transportation, and farm equipment verticals, though at significantly larger scale and with broader geographic coverage.
- Machinery Pete: Online marketplace and pricing resource for used farm and construction equipment. Competes for the same seller attention and provides auctioneer listings alongside Steffes.
- Purple Wave Auction: Online auction company specializing in agricultural and construction equipment. Competes head-to-head with Steffes on the same seller/buyer base, with a similar no-reserve timed online auction format.
- AuctionTime / Sandhills Global: Online auction platform operated by Sandhills Global covering farm equipment, construction equipment, and trucks. Directly comparable auction format, fee structure, and target audience.
Emerging players
- LandWatch: Online marketplace for land, farms, and rural property listings. Competes with Steffes's Land & Real Estate auction vertical as an alternative price-discovery and listing channel for farmland sellers.
Broad incumbents
- IronPlanet: Online heavy equipment auctioneer (acquired by Ritchie Bros.). Overlaps with Steffes's construction and transportation verticals and represents a larger, well-capitalized competitor in the same online auction category.
- eBay Motors: Large-scale online marketplace for vehicles, equipment, and specialty items. Competes at the margin with Steffes's Transportation and Specialty auction verticals for individual sellers and small-lot buyers.
Regional players
- Hansen & Young Auctions: Midwest-focused farm real estate and farm equipment auctioneer. Comparable in asset class focus (farmland auctions) but with a narrower geographic footprint than Steffes.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Steffes Group social profiles
Digital presenceSteffes Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Steffes Group leadership team
Management profileNumber of profiles
Profiles3 records
Steffes Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Steffes Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Steffes Group
What does Steffes Group do?
Steffes Group conducts public auctions of farm equipment, construction equipment, transportation equipment, land and real estate, and specialty items on behalf of third-party sellers. Auctions are delivered through both timed online-only events and live onsite auctions (often with online webcast bidding), complemented by related services such as Steffes Finance, transportation/logistics coordination, and asset valuations.
Is Steffes Group a public or private company?
Steffes Group is a private company. It is classified as family owned and is currently operating.
When was Steffes Group founded?
Steffes Group was founded in 1960. It employs 51 to 100 people.
Where is Steffes Group based?
Steffes Group is headquartered in West Fargo, United States, in the North America region.
How does Steffes Group make money?
Three revenue lines are on record. Auction Buyer Fees are the primary driver. The others are titled Vehicle Document Fees and equipment Financing Services.
Who are Steffes Group's main competitors?
Direct peers on record are TractorHouse, BigIron Auctions, Ritchie Bros. Auctioneers, Machinery Pete, Purple Wave Auction and AuctionTime / Sandhills Global. LandWatch is listed as an emerging player. Broad incumbents are IronPlanet and eBay Motors. Hansen & Young Auctions is listed as a regional player.
Does Steffes Group have an API?
No public API is recorded for Steffes Group.
What industry is Steffes Group in?
Steffes Group's product category is Auction Services. Its primary akta.pro industry code is BPAJAEAA, Residential Real Estate Auctions, with a secondary code of BPAJAEAE, Luxury & High-Value Property Auctions. Its SIC code is 6221.