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#1
03-27-2007, 01:05 PM
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Auctions
Are all horses that are entered for sale at auction entered with a reserve or min. price? I they are not can a seller refuse the bid? Is the fee for entering a set fee or is it based on the $$$$$$ bid. If a horse dosent make its reserve or is not sold is there also a fee and what is that fee based on?These might seem like stupid questions but this old dummy would like to know.
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#2
03-27-2007, 01:17 PM
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There is a reserve placed on most all horses entering the ring. But not each and every one.
At the sales, when you read "RNA", in the day's sales results, this stands for Reserved Not Attained. Be assured the house will get their percentage, if the horse is on the sales ground, even when or if the sell is worked out privately, probably before going through the ring. The exact percentage that Keeneland, Fasig Tipton, etc get can better be explained by someone such as Cannon. Quote:
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#3
03-27-2007, 01:28 PM
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Quote:
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#4
03-27-2007, 01:29 PM
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Quote:
__________________
http://www.facebook.com/cajungator26
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#5
03-27-2007, 02:01 PM
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You are right
It can cost more to have a horse go through with a reserve. There is a chance you buy the horse back, however you would still pay your percentage to the sales company.
__________________
http://www.youtube.com/watch?v=p4ySSg4QG8g
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#6
03-27-2007, 04:54 PM
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It depends on how you set your reserve there are 2 ways to set a reserve, just for descussions sake lets say horse A we set the reserve at $50,000 or u can set the reserve at $50,000 (ATW) which means all the way to 50,000. the difference is when you set the reserve at just 50,000 the sales Co. will stop when there when there is no more live bids. but if you say $50,000(ATW) the sales co will take the horse to $50,000 whether there is a live bid or not.
It can be a little confusing if your not used to doing it.
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