TIPS FOR SUCCESSFUL BUYING
OVER THE PHONE OR INTERNET AT AN AUCTION

With our busy schedules, it can be hard to be everywhere we want to be. Thankfully that does not mean you will be unable to participate in an auction and get that special animal that helps build your niche! At the upcoming Spring Fling Auction, you have several ways to execute an absentee bid—bid by phone, send in a sealed bid with a do not exceed amount, or bid on the Internet. With this Spring Fling being our 13th auction, we have established a successful track record with 20 to 25% of the sales coming from phone bidders. Over the years, I’ve personally bid many times on the phone for animals in an auction if I cannot attend. Here are my tips on how to insure you buy the animal you want at auction and have a good experience doing it!

START EARLY!

For those wishing to purchase at an auction they are unable to attend, plan to do your homework early. Absentee bidders usually have a number of special requests for information, which can easily be accommodated if you’ve allowed ample time for your request to be processed. Copy both the sale management and the consignor on your requests so they can help each other provide the pre-sale support you need to be comfortable making a decision. For example, it takes a while to get fleece samples mailed or sent in for a histogram, so don’t wait until a few days before the auction to request this information!

BE FOCUSED!

If you are hoping to buy one animal, do not ask for A to Z evaluations on 20 animals. Choose the 5 or 6 who you think best fit your niche, and focus on them. If you see a sale that has many more animals who could potentially work for you, then plan to attend that sale! At the Spring Fling Auction, all consignors are required to complete a herd health form on each animal, as well as a veterinarian pre-purchase exam. Ask to see those, to insure your specific qualifications are covered. If not, you can usually get them addressed by the owner or a veterinarian if you have followed Rule Number 1!

BE REALISTIC!

It’s fairly easy to pick the top 10% of the animals in a given sale, but be realistic about your budget. Sometimes this is the year you are going to go for broke for the perfect animal that will excel in your niche. Other times, you are simply not able to go “whole hog” and have to stick to a budget. Look for the animals to enhance your niche at the price you can afford! There are always some great values at auction, so just like college applications, be sure to include a couple of “reach” picks. Most sales offer financed terms so look to see if a “ reach” pick might be feasible for you to add to your herd.

BE SPECIFIC!

No one can read your mind! You should be able to easily articulate the top 2 to 3 faults you absolutely cannot live with in your herd. In my mind, the perfect animal does not exist, so there are always small compromises to be made. You do not have to compromise on your strict standards of perfect bites or wonderful dispositions, but be sure to let both the consignor and sale management know these specifics. A laundry list of 20 things you don’t want will likely not be taken to heart as much as a simple straight forward list of the two to three things you cannot tolerate!

COVER YOUR BASES!

Everyone has a slightly different perspective. Ask two different people you trust who will be at the sale or close to the farm to look at the animals for you. You will get slightly different opinions, but you are also very likely to find a couple animals that both agree on. However, it is my recommendation that you do your own bidding! Others can look for you, but you should be the one who bids and buys!

HAVE A STRATEGY!

Study the auction catalog and order your list of bid picks. If your top pick is at the end of the sale, you should seriously consider bidding on your second and third choices if you want to come out at the end with an animal or two. Auctions can finish very strong, so saving all your firepower until the end may result in you taking no animals home, unless you can go the distance it takes to get your pick bought. Looking at your chosen picks and their placement in the sale order will help you devise a strategy. If you’re new to buying at auction and would like help bidding on animals at the Spring Fling Auction from a veteran with 30 years experience in both breeding and buying bloodstock at auction, email me at stareventsllc@aol.com.

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