Online Mini Horse Auctions- Your thoughts?

[Sandy B]

I was looking at the current mini horse auctions running right now and see that for the most part, horses with reserves are either not bid on or no where near their reserve prices. And many that were listed as NO reserves, after a few were bid on very low, the majority of others that had no reserve prices, now have reserve prices (not that I blame them). Do you think this is a reflection of the economy and current market, the quality or what (these no bids or low ball bids)? Do you think that these prices and lack of reserves met on these online auctions will hurt the private sales of our mini horses or ???

Just wanted to know your thoughts and opinions.

 

[ohmt]

Actually I think the online sales this year look like they are doing very well. Many people get excellent deals on horses-like any other auction. There was a thread last year with input from people who had put on online auctions and I believe they said most bids come at the last minute and that's what i've seen watching them as well. Also, a lot of sales are done privately afterward. Many people put their regular sale price on the horse and it may not get a bid, but it gets more people to their farm and website. I don't think online auctions hurt private sales any more than regular auctions do or other private sellers out there giving horses away (not harping on them at all-i've given away a few too to great homes). Tis the 'season' to buy a horse a few years ago you couldn't afford for 'cheap'.

 

[StarRidgeAcres]

Ditto 100%!

Actually I think the online sales this year look like they are doing very well. Many people get excellent deals on horses-like any other auction. There was a thread last year with input from people who had put on online auctions and I believe they said most bids come at the last minute and that's what i've seen watching them as well. Also, a lot of sales are done privately afterward. Many people put their regular sale price on the horse and it may not get a bid, but it gets more people to their farm and website. I don't think online auctions hurt private sales any more than regular auctions do or other private sellers out there giving horses away (not harping on them at all-i've given away a few too to great homes). Tis the 'season' to buy a horse a few years ago you couldn't afford for 'cheap'.

 

[kaykay]

I really liken them to more of a huge ad than a real auction. Most of the horses sold are sold after the auction closes. I have had friends do good on them and some got only 1 or two horses sold. I thought about doing one but just couldnt quite bring myself to do it.

I do think they can be a great marketing tool

 

[Sandy B]

I agree with it being a good marketing tool, but when well bred mares(open) are selling for $200 and others not getting one bid or meeting their $500 reserve price, it just seems kind of depressing.

 

[Songcatcher]

I see a lot of advantages to an online auction. I participated in one last year and am planning one of my own (along with a few friends) next month.

For me, personally, I will put my reserve price as the opening bid. I'm not going to post a $200 bid on a horse that I will not take less than $500 for. I know some will take and post a $200 bid when their reserve is $2,000 (just an example). To me, that seems like a waste of time, but I'm sure they have their reasons for doing so.

A HUGE advantage I see is that you don't have to truck them to an auction and then bring them home if they don't bring your reserve price. A big disadvantage is that buyers can't see them in person. Trade offs either way.

 

[Lizzie]

I think the draw for auctions, is a possible great deal for the buyer. On the other hand, the seller doesn't have much say in who buys their horses and the type of homes they end up in. I think most of us want the best home possible for our horses and in auctions, we have no control over that. They could end up in the hands of a broker and flipped several times.

Just recently, there was a huge outcry against one Gypsy Horse breeder in the US. Not only are they still still importing en masse, but are holding their own auctions. Add to that, they have 64 mares bred for 2012. The Gypsies have a fairly limited following and most responsible breeders have cut down on their breeding considerably, this last two years. It gives the small responsible breeder a chance to sell his/her horses and doesn't flood the market with horses. So most of us considered the actions of this one breeder, pure greed and with little thought for the others in the breed.

In Minis of course, there are a greater number of followers and horses. Still, I wonder if it is wise to produce a ton of foals, when one has not sold past foals for a couple of years.

Lizzie

 

[JMS Miniatures]

My biggest pet peeve is them putting a price down but saying "RESEVE IS NOT YET MET". Just tell me what your lowest price your willing to give that horse away to begin with then people can decide if they are even willing to pay that or not. If they have reserves I really don't bother keep on looking.

I think these online auctions are great as long as everyone is honest about their horses, there would have been a couple of purchases I would have wanted but just don't have the money for.

 

[LindaL]

For me I think it is "worth the risk" for the cost involved...If you go in with several people, the cost is very reasonable and if a horse doesn't sell, you didn't have the cost of a consignment fee and a "no sale" fee for each horse which can be a big chunk depending on how many horses you run thru.

I also agree that it is a marketing tool and horses can get sold after the sale. Reserves are a protection, but are not set in stone.

If I were not trying to sell, I'd have bought a few at a recent online auction myself!

 

[Michelle@wescofarms]

I do think the online auctions work, but right now the reality of the economy is affecting everyone so people are a bit more cautious to purchase than a few years ago. They are a good marketing tool and I've been told many horses sell after the auction, so definitely a good marketing tool.

I have participated in a couple of the online auctions in the past couple of years, but in all honesty I like to see the horse or at least see a bunch of photos - cleaned up, pasture hanging out, movement if those are available. So for me to bid, I have to know the horse and the owner/breeder. I do contact the breeder (if not the current owner) for any insight into the horse as well as question the current owner for information. Earlier this year I bought a stallion off the Little Horse Barn Auction that a friend called me about at 7 a.m., Before I bid I contacted the owner for additional photos and the breeder (Getitia) and had a ton of info on him including a variety of photos of him,, his parent photos and his last foal crop photos. They both had info to me ASAP and deal was done by 11 a.m.

As for not getting to choose the home, my theory is with the online Mini only auctions, the people participating (generalizing here) are other Mini owners/breeders. Versus at a local all breed auction it can run the gambit of who is there and may end up with your horse. Not to say every Mini breeder is an ideal situation, but their reasons for buying are generally breeding/showing and hopefully they have the knowledge to take proper care of the horse. Or everyone at an all breed auction is not a good home, just a generalization.

The other thing I personally do consider with an online auction is what is the cost to ship the horse? When I'm looking at $800-1200+ to ship, that 'deal' isn't so inexpensive anymore.

But I will agree with that pet peeve on 'reserve not met' If you have a $2K reserve and start the bidding at $100 why? Just to see how high the bidding will go? If it's $2k start the bidding at your TRUE reserve price. I like a ballpark number at what the seller is wanting to make my decision to bid or not. When I see a horse that I've seen on a seller's site for $3-7K with a starting bid of $100 and a reserve, I don't generally bother as I ASSUME the reserve will be at least 1/2 to 3/4 of their sales list price if not more. So if I'm following and the current bid is still under $1K, I would again ASSUME the reserve hasn't been met yet.

 

[Sandy B]

I love to look!! That is the fun part. But like Wesco farms said, it can be the shipping that kills the deals for us West Coast people when so many of the sales are back east. I bought one mare a couple years ago through a DD Sale and paid what I thought was a great price on a mare that was confirmed in foal. I paid more to have her shipped home then I did to buy her and then when I had her preg checked, she was open. The sellers offered to breed her back but the math did not pen out to send her back out to Texas for breeding and then back. One thing for sure, I do feel like there are some great buys out there. I wish I had the money and that the darn hay prices were not so choking, otherwise Gracie and I's bag of potato chips would be huge!

 

[ruffian]

My biggest pet peeve is them putting a price down but saying "RESEVE IS NOT YET MET". Just tell me what your lowest price your willing to give that horse away to begin with then people can decide if they are even willing to pay that or not. If they have reserves I really don't bother keep on looking.

I think these online auctions are great as long as everyone is honest about their horses, there would have been a couple of purchases I would have wanted but just don't have the money for.

Sometimes folks put a reserve on, but if the bid gets close, they may change their mind and let a horse sell.

Sandy I was at an auction barn the day after a sale (very reputable mini auction barn) and as we were looking around a barn we found a very very (probably 2-3 month old) fetus in a stall that previously had held a "bred" mare. The beauty of a live auction - less stress on bred mares and foals, as well as the other horses. Less chance of transmitting diseases also. And the transport is going to be the same whether you pay $100 or $10,000 for a horse.

I participating in an on-line auction right now. The cost for listing 7 horses was less than the cost of ONE horse at recent live auctions!! So that savings is being passed on to my potential buyers!

 

[Leeana]

Its actually something that maybe 20, 25 years from now I wouldn't mind doing, altough its just not a "me" sort of thing...But I just cannot see myself really going that way, but it wouldn't bother me. I have bought horses from online auction, and I have got some really really good deals. I bought a colt for $400 recently, I don't would not sell him for less than $4,000.

For these large number breeders, its a chance for them to market when its hard to list every pony on their sales list and price them. The online auctions also give them an opp to promote their farm as well. I do not see it doing any "harm".

 

[Lizzie]

Some lovely horses offered on the Double Diamond Auction right now. I've been drooling over RFM Buckeroo Bandoleros Antares. As others have noted, even if you get a deal, the transport costs to California don't make it worthwhile. All the auctions seem to be in the east.

Lizzie

 

[Sandy B]

Sometimes folks put a reserve on, but if the bid gets close, they may change their mind and let a horse sell.

Sandy I was at an auction barn the day after a sale (very reputable mini auction barn) and as we were looking around a barn we found a very very (probably 2-3 month old) fetus in a stall that previously had held a "bred" mare. The beauty of a live auction - less stress on bred mares and foals, as well as the other horses. Less chance of transmitting diseases also. And the transport is going to be the same whether you pay $100 or $10,000 for a horse.

I participating in an on-line auction right now. The cost for listing 7 horses was less than the cost of ONE horse at recent live auctions!! So that savings is being passed on to my potential buyers!

All great points! The thought of taking a bred mare or young foal to a sale would make me really nervous! I can definitely see where online auctions are much better for the horses (and sellers) in the long run and you have to transport them regardless. I too am drooling over the current DD online sale (COH Sale). As I said before the cost to ship to California from Indian is just too pricy, which makes my husband very very happy as he does not have to take my computer away

 

[LindaL]

Please also "oogle" (and sign up to bid

) on the Sunshine State auction...

 

[Mulligans Run]

Have to put in my two cents..but bear with me..typing on an IPad so likely to have errors...

The Mare Stare auctions allow the farm to run things themselves, thereby keeping their costs down. If they do it all themselves it's extremely low...hence the draw to run an online auction. I am all about helping farms to sell and keeping costs down..however, I emphasize that a lack of certain items can ruin an online sale, such as lack of advertising, email fliers, realistic prices, good write ups and good photos.

The most successful sales have had alot of advertising (email ads) that keep the public aware of their sale, realistic prices, good photos and write ups. I just hate to have every auction judged by the outcome of one. And I do agree that location has a lot to do with it, as well as timing. The ability to transport to a large show like nationals, regionals, worlds, etc is a great motivator.

The live online auctions are exciting and fun, but I prefer these catalog auctions because of the cost factor and the safety aspect. I think it gives everyone an opportunity to sell without investing a lot. Just my opinion.

 

[RockRiverTiff]

Personally I like the online auctions from a buyer's perspective. I do think when offering performance horses it would be more effective if the sellers would also post video links; posting a video to YouTube is free after all. And a little side FYI for those that don't like reserves; according to the Conditions of Sale for the COH auction there are NO reserves.