Cornwell proud of auctioneering legacy

Like a lot of boys growing up in rural Nebraska Tom Cornwell loved playing with farm toys as a kid, a fascination sparked by an Allis-Chalmers D17 he was given on his fifth birthday. More than 55 years later, his passion for those toys has reached another level, all part of his family’s success and growing 75-year legacy in the auctioneering business.
Last month, in fact, Cornwell celebrated his 30th year of managing the prestigious National Farm Toy Show in Dyersville, Iowa, where he sold numerous items for $10,000 or more. The high bid for the day of $18,500 went for a miniature version of a horse-drawn reaper, which Cornwell described as a scaled down model of the real thing, known then as “a salesman’s sample.”
“Not only that, we had a little International tractor, bubble wrapped in a box, and that brought $18,000,” he continued, his voice still filled with excitement almost two weeks after the sale. “That was probably a $2 tractor when it came out in the 1950s. It was just one of those days.”
As impressive as the $18,500 bid was at last month’s sale, that’s not even close to Cornwell’s top personal toy sale. 
“Three years ago I had an auction in Davenport, Iowa, where I sold a John Deere pedal tractor for $71,000,” he said. “It wasn’t in mint condition, but it wasn’t broken up or anything like that. It was a prototype that never did get produced and there were only probably five or seven of them still in existence.”
That $71,000 was, to Cornwell’s knowledge, the highest priced farm toy ever sold.
“When you start talking collectibles I mean they are just bringing outrageous prices,” he said. “And it’s not just farm toys. I’m not into baseball cards, but one single baseball card was sold for a million dollars. Vintage signs, like petroleum signs, old gas station signs or agriculture signs like John Deere, International, Case or whatever, all the stuff is selling at an all-time high.”
Cornwell has a friend in the business, actually a competitor, who predicts the current run of record prices at specialty auctions is far from over.
“There’s so much money out there,” he said. “With so many millionaires and billionaires, he thinks this thing is going to just keep propelling. For the really rare stuff, it’s going to keep going crazy.”

Passing the baton
Cornwell has a lot of time these days to reflect on his 30-year run with the toy sale in Dyersville, as well as his 43-year career in the auctioneering business. He sold Cornwell, Inc., to his son, Casey, and business partner Clint Mickey on Jan. 1, 2021, though he remains involved in a more limited, semi-retirement role.
Years worth of sale bills, photographs as well as newspaper and magazine articles on the family business were featured in a memorabilia display set out for a recent two-day sale at the fairgrounds. It was a time to recognize and celebrate the 75th anniversary of the family business, which is a source of great pride to Tom Cornwell. 
“I never dreamed in a million years that the business would turn into what it has,” Cornwell said. “It’s been great and I’ve had a really good run, if you want to call it that. Land sales were one of our major things and then the farm equipment was great, all the estate sales and the gun sales. All the speciality sales, like the toys, have been really fabulous.”
Leaning back in his chair amidst hundreds of toys lined up on shelves in the former Hometown Variety building on the southeast corner of the downtown square, Cornwell looked back, as well as forward, on the business that bears his name.
Cornwell’s father, Les, launched the family business 75 years ago in 1943 when he established a sale pavilion in Cedar Rapids. When that facility was destroyed by fire in 1957 he moved to Aurora and bought into the Aurora Sales Pavilion.
Son Tom, who was born here in Aurora in 1961, followed his father from auction to auction growing up, eventually joining the family business in 1979. He enrolled in the Western College of Auctioneering in Billings, Mont., two weeks after graduating from Aurora High School, and never looked back.
“My late mother, Muriel, who passed away my junior year in high school with illness, inspired me and basically told me to become an auctioneer,” he shared in an interview for a February cover story in Toy Farmer magazine. “It’s a decision I haven’t regretted.”
That same article traced Cornwell’s connection to the national toy sale back to 1993, when three auctioneers were considered for the job.
“It’s just been a real prestigious thing for me to have that sale,” Cornwell said, explaining that he spends time preparing for the event from August to November each year. “In 1993 when I got that auction I ended up getting the Map Maker Award (from the Aurora Chamber of Commerce) and 30 later I’m still doing it. Apparently they are happy with the way things are going and they don’t want to upset the apple cart.”
Though proud of his tenure with the Dyersville event, Cornwell admitted that he could well have lost the privilege several years ago, when he hesitated to dive into the world of online auctions. Son Casey helped him take that step into the digital realm, which he said was a game-changer, not only for his role with the toy auction, but also for Cornwell, Inc.
“I was kind of late to the game and just didn’t get with it,” he said. “It wasn’t until Casey came on and kind of helped get that thing going that we started doing online auctions. It’s amazing to me that as much as I didn’t want to get involved in it that I didn’t lose the toy auction.”
At this year’s sale, for example, Cornwell said there were about 150 people present in Dyersville, and another 300 or more bidding over the internet. That’s a common trend these days, which a younger generation like son Casey and partner Clint Mickey know well.
“You know, it’s just like if you’re a retired farmer and the next generation takes over, they’re going to do a lot of things different than the old farmer,” Cornwell said. “Every generation takes over and they try to improve on it and I think that’s what these boys are striving for. My thinking is that, hopefully, I gave them a good start.”
Cornwell said he is enjoying his new part-time role, helping out in various ways when asked.
“I’m still active in the business, just working behind the scenes,” he said. “I’ll give them advice is they want it, but if they don’t that’s fine, too. They’ve been at it for more than a year now and I think they’re doing a great job.”
On the other side of that transition, Casey Cornwell said he is proud to carry the torch as the third generation in the family business.
“I am excited to carry on the tradition well into the future,” he said.
From his perspective, Mickey said joining the Cornwell team and becoming a part owner seemed like a natural fit.
“My grandad ran a sale barn in Fullerton and Tom’s dad came from Cedar Rapids, which is close by. We even have a sale bill from an auction Tom and my granddad did together long before I came along,” Mickey said. “My first auction was with Tom and he’s been a real mentor to me, so the connection is pretty deep.”
On a final note, Cornwell said he appreciates the support he’s had over the years from local buyers and sellers, many of whom called on him to help during an emotional time of transition.
“I’ve had total support from the community and I can’t thank people here enough for their patronage,” he said. “It’s been a real good community to be a part of.”