Longtime auctioneer

Randy Wells didn’t set out to be an auctioneer, much less president of the 5,000-member National Auctioneers Association.

Known as the “small company auctioneer with a big work ethic,” the Post Falls’ resident and current president of the NAA, mostly just wanted “to work hard.”

“I want to stress that you do not have to own, or be from, a larger auction company to successful in this business or the president of NAA,” says Wells.

Wells currently is co-owner of MR Auction, executive vice president and owner of Tranzon Northwest, and a licensed real estate agent with Exit Realty Coeur d’Alene. Wells was awarded business of the year by the Post Falls Area Chamber of Commerce in 1999, and served as president of the chamber in 2002 – among a long list of accomplishments.

Wells has conducted more than 1,900 auctions since 1985 including estate, business liquidation, automobile, benefit and real estate auctions. He travels back and forth across the U.S. as president of the NAA, and as an affiliate of MarkNet Alliance, a national network of auction companies.

He is an instructor for the NAA Education and is one of the instructors for CAI, the highest designation available in the auction industry. The course is held every March at Indiana University at Bloomington. This past March, Wells was awarded the Faculty of the Year award.

Born in Cottonwood, Idaho, he was raised on Doume Plains, scenic land between the Snake and Salmon Rivers. His family moved to Grangeville, and shortly after high school graduation he became a Navy Seabee.

“I am a proud old Seabee and still have that can-do spirit,” says Wells.

While stationed in Gulfport, Miss., Wells met his wife and business partner of 35 years, Annette.

After the Navy, Wells became a district manager with Tandy Corp. and moved 17 times. Daughter, Johnna, and son, Joshua, were born in the process.

In 1983 the Wells made a decision to leave the South and move to Post Falls. They purchased a closed western wear and tack store owned by Hilde Kellogg, the former Barbeque Ranch on Seltice Way. Wells turned it into a furniture and antiques store.

Wells’ next purchase was a weekly consignment auction business. From 1985 to 2002, many regulars attended auctions every Friday night where tools, estate items and antiques were sold, but fun was also plentiful.

Since he hadn’t attended auction school and dreaded talking in front of crowds, Wells partnered with an auctioneer. Wells was forced to do the bid calling one day and decided he liked it. He later sold that business, separated with his partner, and started his second auction business, MR Auction, in 1991.

It was in 1996 that a fellow auctioneer insisted Wells attend the NAA Conference. He even offered to refund his attendance fee if he did not feel it was worthwhile. Turned out the NAA became the foundation of their future auction business.

“Looking back NAA completely changed what we were doing and how we were doing it,” says Wells.

It motivated him to start Realty Auction Services, and he now works with several agents to sell real estate at auction.

“At auction I will know within six minutes the actual current market value of any property anywhere.”

According to Wells, real estate auctions continue to be one of the fastest growing marketing sectors, and the belief that a real estate auction means the bank is foreclosing – just isn’t true.

“I’ve hardly ever done a foreclosure property. These auctions are perfect for the seller that wants to, or needs to sell in a hurry,” says Wells. “When time matters, call a real estate auction professional.”

Wells says that the state of the industry is strong and that the auction business has opportunities now they never had before.

“Real estate is the fastest growing segment of our industry, and is about 90 percent of my business – followed closely by benefit auctions.”

Wells is well-known for helping nonprofits raise money to help with their expenses or goals. He likes to tell the story about one particular Post Falls church benefit auction that never broke $10,000 in 15 years. They called him for advice and hired his company for consultation and to conduct their auction.

“After they followed my advice and worked very hard, they cleared just over $272,000,” says a smiling Wells.

Wells’ daughter, Johnna, has followed in her family’s footsteps. After graduating from Post Falls High School and the University of Idaho with a degree in fine arts, she moved to Portland to be a jewelry designer.

She decided to go to auction school so she could help her dad when health issues forced him to scale back. After graduating in 2003, she won the women’s International Auctioneering Championship in 2005, and with her prize money started her own business – Benefit Auctions 360. She now travels around the U.S. doing about 50 to 60 benefit auctions a year.

Technology and the Internet are another huge component of the growing auction business according to Wells.

“Our competition is not the person next door or down the street. With the Internet we have a world market and we have to be more competitive today than we’ve ever been.”

One of his fondest memories is of a woman who for years faithfully attended his Friday night auctions. During her funeral, her daughter told Wells that they “buried mom with her bid card.” Her bid number has been retired in her honor.

As for his future, Wells says, “My plan is that until the handle in my gavel gets loose, I’ll still be here.”