Time to bid on private treaty sale

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mainecattlemother

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Oct 26, 2010
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380
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Minneota
What is everyones opinion on private treaty sales.  We have been in the bidding on a market heifer and had winning bid at approx 10:30 am yesterday morning and we did not get a call back after that so at about 8:00 pm my husband played dumb and called the guy to see if we were still in and again he said we were high bid but is waiting for some people just to make sure they will not roll over on her.  I would think that there should be a time limit on this.  It has been almost 24 hours.  What is everyones opinion?
 

ferkj

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Joined
Sep 6, 2009
Messages
194
Most private treaty sales have a final bids due by time.  The ones I have dealt with usually start with the animal that has the highest bid at that time and sell them off in order highest to lowest with the loosing bidders being able to drop down to another animal.  It's the sellers call how long they will wait for you to get back if they can't contact you right away.  Once i have a bid in on the ones I'm interested in I dont even call back to check till after final bids are due.  Got better things to do than be on the phone all day. 
 

iowabeef

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Aug 24, 2009
Messages
1,047
Location
Iowa
Yes, most private treaty sales do have bids due by a certain time.  However, these are not FINAL bids.  When you put a bid on a calf in most private treaty sales, you are then eligible to bid on other animals after your calf is finished being "bid off". So if you don't get your first choice, you have the right to move on to another calf in the sale even if you didn't put an initial bid on that calf ...thus the "roll over" bids.  This is the nature of the beast and it is not always fun for those that are looking at only one animal and you think you are the high bidder and then someone else jumps over from another calf.  But again that is how these sales operate.  I know it can be frustrating to wait it out but you really have no choice as the seller can wait for an answer as long as they choose..... after all, it is their product they are selling.  The key is know how much you are willing to spend on an animal before the auction even begins and stick to it.  Sometimes you win sometimes you lose.
 

mainecattlemother

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Oct 26, 2010
Messages
380
Location
Minneota
Update:  We just won the bid.  This was also our roll off animal as the first went for $11K and this was over budget for us but was our second choice and we love the fact that she is halter broke already.  We are just a little new to the market heifer thing and we are trying to make her into a market heifer.  South Dakota State Univ. judging team came out to their farm and placed her as a market heifer and stated that she would be competive if handled the right way but we also think she is goode enough to be a breeding heifer and be a good steer producer.  We did pay a lot of money for her but if we could make auction at our state fair it would be worth showing her as market and also breed her as MN markets can show bred.  Will be a tough decision.
 

hevmando

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Joined
Dec 14, 2009
Messages
181
Location
Ruskin, MN
FYI, if you do make the MN state fair auction and put her in, she becomes terminal.  You do not have to accept the auction opportunity unless you win an automatic that is required to go to the auction.  I am not sure if the champion market heifer automatically has to go to the auction.
 

iowabeef

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Aug 24, 2009
Messages
1,047
Location
Iowa
Congrats on winning the bid.  It is kind of a high when you get the call saying you won.  All that sitting around and waiting becomes worth it at that point.
<rock>
 
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