Before buying a horse at any auction it is important to read the terms and conditions of the auction and these can usually be found in the auction catalogue or on the auctioneers web site.
Auction Fees
Some horse auctions, but not all, add fees to the hammer price and such fees may also be subject to VAT. Therefore it is important to be aware of any additional fees before bidding on any horse in the auction to avoid any nasty surprises when paying for the horse. If there are fees to be added to the hammer price then it is often useful to go to the auction with a list of bidding prices and how this equates to the final price with fees added to act as a reference whilst bidding.
Payment Terms
It is important to check whether the auction accepts payment by cash, cheque or credit/debit card. Not all horse auctions accept payment by all methods.
Vetting Procedures And Warranties
Some horse auctions have all horses vetted beforehand with vetting records able to checked before the auction starts. This cost of this vetting is usually added to the hammer price to be paid by the successful buyer. It is important to know if vetting has been carried out beforehand and, if so, take the opportunity to check the vetting records before the auction starts, and to ascertain the vetting cost from the auction terms and conditions that would be added to the hammer price in the event of a successful bid.
Other horse auctions offer vetting as an option to be carried out at the auction premises by vets in attendance after the hammer has fallen, with the cost of this vetting being added to the final hammer price. Should the horse fail the vetting at the auction there is usually no commitment to continue with the purchase of the horse. It is important to know if vetting is offered as an option so as to ensure that vetting is requested, if required, once the hammer has fallen and before the horse leaves the ring, and to ascertain the vetting cost from the auction terms and conditions that would be added to the hammer price in the event of a successful bid.
Some horse auctions offer no vetting procedures at all but may offer warranties on some horses within the auction to give some form of guarantee that the horse is as described in the auction. There is usually no cost associated with this and usually means that the buyer can return the horse if, within a given time (usually only a couple of days), the horse is not as described. It is important to understand definitions used within any such warranty and the timescales that apply from the auction terms and conditions and to ascertain which horses any such warranties are given to within the auction.
Some horse auctions offer no vetting or warranty at all and horses are simply sold as seen.
Removal Of Horses Once Sold
It is wise to check timescales for removal of horses sold before attending the horse auction particularly if the auction is not close to home. Often it makes sense to travel to the horse auction in a horsebox or with a horse trailer if there is even a chance that a horse will be purchased to ensure it can be removed within the timescales set. However, for some it can be easy to get carried away at a horse auction and having horse transport to hand shouldn't be an excuse for buying a horse that isn't really wanted or can't be afforded!
Catalogues
Some horse auctions produce a catalogue giving lot numbers, details of horses and sometimes photographs and breeding of the horses entered. Obtaining a catalogue in advance makes it easy to shortlist any horses of interest, making it quicker to seek out those horses at arrival at the auction.
Horse auctions where horses are sold as seen don't tend to produce a catalogue as horses are often entered on the day.
Viewing Of Horses In Stables/Pens
Horses are put in stables or pens prior to the auction starting so that they can be viewed by potential bidders. The lot number is usually indicated on the stable, pen or on the horse itself by way of a sticker on its hindquarter.
At auctions where horses are sold as seen it is best to check any horse over carefully and assess its age by checking its teeth as even though the seller may give information about the horse, it is "sold as seen" so bidders shouldn't rely on anything other than their own observations. If the seller is close by then ask to see the horse trotted up to assess its movement and check for any signs of lameness. If a horse is tacked up in its stable or pen, ask to view it without its tack on - this will help to assess its conformation more closely and it should be borne in mind that a saddle could be hiding a loss of use (L) brand that the seller has no obligation to disclose!
Viewing Of Horses Being Ridden And Trial Rides
Some horse auctions cater for the sellers showing the horses being ridden and may also offer trial rides so that potential bidders can try the horses themselves before the auction starts. It is best therefore to attend the auction in suitable riding wear and take a riding hat.
Bidding Cards
Before the auction starts it is usually necessary to register as a buyer to obtain a bidding card with a bidder's number on it. This can usually be obtained from the office at the auction.
Bidding In The Auction
As each horse comes into the auction ring the auctioneer will usually start by asking for a high starting bid, then when no one bids he reduces the bid asked for, and again, and again before someone bids. Don't bid therefore until someone else starts or it could mean paying far more for a horse than is needed to be successful.
Once bidding starts there are often several people bidding, but after a while only 2 or 3 remain. If the horse is not out of any spending limit by this stage, this is usually the best time to start bidding. Make any bid obvious by raising the bidding card in the air to catch the auctioneer's attention - at busy auctions it's easy for an auctioneer to overlook a subtle wave of a bidding card especially if he's looking at bidders in a different direction. Shout to grab his attention whilst waving a bidding card high in the air if necessary!
Once the hammer has fallen the auctioneer will ask for the successful bidder's number and the bidding card should be held up so that the auctioneer can see the number on it.
After a short delay the office will be notified of each lot that has gone through the auction ring with the successful bidder's number and the horse can be paid for and taken home.
Arriving Home With Or Without A Horse
It should be borne in mind that at auctions there are a number of horses from various locations and backgrounds that may be incubating or have diseases that have been stroked and handled by a large number of people as they have gone from horse to horse at the auction.
Should any horse have been purchased at auction it is therefore best to quarantine the horse for at least a few days to avoid the possibility of infecting any horses at home.
Even if no horse was purchased it is always wise on returning from a horse auction to change clothing, footwear, disinfect hands, etc before handling any horses already at home.
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