We have bull sales in March and October of every year usually on the first Saturday of those months. Our sales are not auctions - they are the “opening day” of private treaty sales. Bulls are put on sale at approximately eighteen months of age. We do not sell any of the bulls of that age group before the opening day so that the bulls will not be picked over before and everyone has an equal opportunity at each of the bulls at the first of the sale period.
On opening sale day, at normally 10AM, the bulls are grouped in the listed price groups and offered for sale. As each bull’s number is called, anyone present may buy the animal at the listed “sheet price”. If more than one person present wants the same bull, the bull is offered to them at an increasing price of $50 over sheet price until only one person continues to want the bull at that elevated price. Any bulls not sold on opening day are then offered on a first come, first served basis at sheet price until sold.
People who cannot be at opening day and are interested in buying any of the bulls may do so by placing “bids” of how much over sheet price they are willing to pay, if necessary, to buy the bulls of their choice. For example, if someone indicates they are willing to pay $100 over the sheet price, they would get the bull at sheet price if no one else wants that particular bull. If someone else wants that bull at sheet price but is unwilling to pay an additional $50, the absent bidder would get that bull at sheet price plus $50. If the competing bidder will pay an additional $50 but not $100, the absent bidder will get the bull at sheet price plus $100 and so on until the winning bidder is determined. If an absent bidder is dissatisfied after the sale, he is not required to buy the animal. Historically, the bidding has not increased the prices of the bulls very much. It is a method to decide who gets a particular bull when more than one person wants the same animal and we have yet to have someone cancel his purchase.