Inside the Sale of Blackmon Auctions with Thomas Blackmon Jr.
In this episode of the No Reserve Podcast, Tim sits down with Thomas Blackmon Jr. of Blackmon Auctions to talk through the company's history and its April 2026 sale to Ritchie Bros.
Blackmon Auctions traces back to 1937 when Thomas's grandfather Eddie Blackmon stepped in to run a cattle barn auction in DeWitt, Arkansas after the original auctioneer was run out of town. The business moved into construction equipment auctions in the 1970s and settled at its current yard in Lonoke, Arkansas in 1998. Thomas took over from his father starting around 2010 and bought the company outright in 2013.
Thomas walks through what the business grew into over the decades, including agricultural and construction equipment, bankruptcy auctions, and a long-running relationship with the rail industry that started with a call from Norfolk Southern in 1981. In 2025, the company ran 78 auctions across 22 states with a crew of 30.
The conversation moves into the decision to sell. Thomas describes two years of talking with private equity groups and another auction company before Ritchie Bros reached out in July of last year. He explains why he passed on private equity funding, what the due diligence process looked like, and how the deal closed on April 13, 2026. He also talks openly about the emotional side of selling a business his grandfather started and his father built, and what's stayed the same for customers and staff since the acquisition.
Later in the episode, Thomas and Tim talk about a shift he's noticed at live auctions, with more buyers in their twenties showing up in person rather than bidding online only. Thomas closes with where he sees his own role heading now that the company is part of Ritchie Bros.
Links:
