Auctions VS. Private Sales

[Little Wolf Ranch]

I have noticed more private farms having their own "auctions" online through providing plenty of in-depth details as well as nice, clean, posed pictures (some professional, some not) and it seems that they are having better results selling this way and seeming to get higher prices for the ones that really deserve it, and the lower prices for the ones who are justly given (questionable mature height, no height guarantee, selling on applications only, etc.). 

I was thinking that IF I sell any foals ((shhh. . .dont tell fiance LOL)) next year, I will have a private auction meaning anyone can bid who registers with me (sends basic information nothing too detailed but also their experience with minis and their plans, etc.) and provides references which MUST include atleast a vet. If the highest bidder's vet doesn't recommend them - then horse is given to next highest bidder whose references clear and I am happy with home placement. 

I think prices tend to give people a scare sometimes and with auctions, you can get a chance to get a great horse at a low price, and if they bidding goes higher than your price range - no biggie, just keep looking around. If your horses keep getting low prices - it may be time to take a good look at your stock as GOOD QUALITY horses are still selling for high prices even during these times. People won't pay thousands for a horse with poor conformation. 

WHAT ARE YOUR VIEWS? feel free to throw anything out there 

 

[HGFarm]

I would assume it still cost a good amount to put on a private auction....never having done so, I am not sure how all that works, but... you would have to be hooked up for everyone to view this on line. Perhaps some of the bigger farms, etc.. that do this will post here on what all is involved in putting together an online auction.

Taking horses to a regular auction can also be costly if it is a good one with a good reputation... that will hopefully bring in buyers that are looking for a more quality horse, not something you would find at the 'livestock auctions' that are selling more 'by the pound'.

I would want a price comparison before deciding either way......... and perhaps for only a few foals, it is not worth doing the whole online thing.... I noticed that many that do that are reasonably good sized farms with many horses for sale.............??

I would be curious to see how it compares if someone here is willing to post on the cost of putting together an online auction.. and dont forget you also have to put together the catalog also..... if you go to an 'in person' auction, usually the sale folks put together and pay for the catalog and all the extra things that need done.

 

[Little Wolf Ranch]

I was thinking more along the line of something I saw while browsing sites today. . . 

The farms personal website had an "auction" page with the horses available, free online form to register, the end and start date, rules and terms, numerous pictures, video of each horse, detailed descriptions of each horse, AMHA and/or AMHR and/or ASPC pedigrees available, previous foals listed, exposed mare dates if bred, current highest bidder (each bidder had a private username such as "B10A"), etc. and everything seemed to work so well. 

The only thing they needed to do was make the site, put up info, take pictures and video and there ya go. They were also advertising about the auction available for bidding on numerous free webistes. They have had price ranges from $450-$3250 so far. The seller also didn't enforce a reserve on the horses either. 

Seems like a good way to get things done if you ask me.

 

[kaykay]

I dont ever want to discourage anyone ever. But that farm your speaking of has a well known reputation for breeding National quality miniatures (and the show records to back it up). My fear would be that a newish farm might not be as successful. But hey if you want to try it then go for it.

Back when I first started someone at my first show told me "you have to pay your dues" and by that she meant you have to put in the work and years to establish that reputation

 

[ruffian]

"The only thing they needed to do was make the site, put up info, take pictures and video and there ya go. They were also advertising about the auction available for bidding on numerous free webistes."

This sounds easy enough, but you are not including the photos - horses must be bathed, clipped and set up. Plus have a nice spot to shoot the horses. Video - again, clean up the horses and video and then upload all the videos. Plus someone has to do all the background on the horses, breeding history, show history, any other "in depth" information. And then put it on free sites - this takes a lot of time and effort.

Putting on an auction - private, public, or on line, is an incredible amount of work. I wish you all the best if you decide to go this way.

 

[Little Wolf Ranch]

Are you sure we are talking about the same farm? I am referencing back to an auction that I came across overseas...?

 

[wildoak]

What you are talking about is more along the lines of a silent auction I think - you post the information, pictures, etc and give a time frame for it to run. Interested bidders may register with you and post bids to your website - no management company, no live auction/video, etc.

I would tend to agree with Kay, the concept is good but your reputation & exposure in the market would make a huge difference in the success of your auction. You would be assuming to begin with that you have a considerable number of visitors to your website, or a way to draw them there. I think we all have to be more creative in todays market, and it's certainly an idea that seems to be popular now. Sure worth pursuing but I think although the concept is fairly simple, doing it right would still take considerable planning and marketing. Just my two cents.

Jan

 

[Horse Feathers]

There are 2 breeder auction

Auction 1

colts by Grand and World Champions(direct sires and dams), no reserve

I would bid up to $1500

Auction 2

colts by nice and pretty horses(no known horses up close), no reserve

I would bid up to $500

Picture these 2 auctions, the colts look identical in color and confirmation. If you are not known, you are not going to attract higher bids

 

[Riverdance]

I know of a small farm who tried to do an on line aution. He advertised on Lilbeginnings and other places and did not get one bid on his horses.

If you are not known, you will not sell anything. You might as well try the auction on Lilbeginnings, at least your horses would be seen.