Stupid Question: How do private treaty sales work?

[GLZ]

I've never been to one. 

Do they have a price for everything, and some stuff they just no sale, or am I way off.

 

[Turkey Creek Ranch]

Well, I have never been to one, but the way I understand them is that they are like a silent auction. Correct me if I'm wrong someone.

 

[txguy]

Some are on a first come first served basis, and others are a bid off.

 

[afhm]

Depends on whether it is a private treaty bid off or if the cattle are for sale private treaty.

In a bid off the cattle will have a base price and a preset bid increments.  You must place your intital bids by a preset time.  Some sales require you to submit a bid on every calf you are interested in before the cutoff time to bid on them, and other sales will let you jump around from calf to calf if you dont get one at a higher price bought.  Everyone who is interested in that calf will place a bid and the seller will call all bidders on the phone to let them know where the bid is what their next bid is how many but know who the remaining bidders are.  They will go down the list and start over again until there is just 1 bidder left who becomes the buyer of the calf.  You can jump the bid at anytime if you feel the need to.  Meaning if your next bid is 1900 and you want to bid 2500 because that is your limit or you are just trying to scare off the other bidders you can.  It can be a bit confusing at first but once you get the hang of it it will become second nature to you.

In a private treaty sale, all cattle are piced and are for sale 1st come 1st serve.

In some cases cattle are priced and at a certain cut off time if more than 1 person is interested in a calf then that calf will be bid off just between those people and all cattle that have just 1 person interested in them are sold to that person at the cutoff time.

 

[GLZ]

In some cases cattle are priced and at a certain cut off time if more than 1 person is interested in a calf then that calf will be bid off just between those people and all cattle that have just 1 person interested in them are sold to that person at the cutoff time.

What if noone is interested at that price?  Do they ever reduce prices?  Do they just no sale it?

 

[BCCC]

With most of the bid offs I am involved with, they dont set a base price they just let the buyers set it and if it isnt enough then they will just keep the calf and sell it some where else. If they are doing base prices they are normally fairly low unless its really nice.  but afhm pretty much covered it all

 

[afhm]

Most of the time they will no-sale it and wait for someone to come along hat wants it.  You might can offer them a lower price and see if they take it

 

[shortdawg]

The ones I've been involved in, once you are in you are in and don't have to bid again until the final bid-off day if you choose. I like them b/c it's a slower pace than an auction and you are not as pressed to bid.

 

[farmboy]

after "initial bids are due in by ####" time usually the first bidder gets the first call and is asked if he wants to stay in and its gonna cost blank amount of dollars, then the 2nd bidder is called next... so on and so forth. until the last person drops out and 1 is left standing

 

[Steve123]

Always call back after the sale on the ones you didn't get.  Alot of stuff happens (ie. checks bounce, people change their mind, never had real money bid, people don't pick them up) Find out where they went, the new buyer might want to make a quick $500 for just attending the sale. I've sold a couple right after the sale and have never had to find a trailer to get them home.