helmsman auction
Auctions don’t have to be stressful environments. The Helmsman system combines the best features of an auction system and sale by private treaty.
You have more time to consider lodging your bid. You can place genuine bids on any bull of your choice at any time during the sale period. You have the opportunity to reassess each lot during the sale period without any pressure to make an instant decision. You take home the bulls that you want, irrespective of the lot order.
If you are considering buying a number of bulls you will have a better chance to average your purchase costs in order to meet your budget. People say that the “Helmsman” system is buyer friendly because it helps them get better value for money. The simultaneous auction method enables them to switch to the best valued animal at any time during the sale.
HOW THEY WORK
1. On arrival, the intending purchasers register at the Elders Livestock bid table and receive a buyer number.
2. All bulls are displayed for inspection with relevant information provided in the catalogue and on our website.
3. When the sale commences, all bulls are on the market simultaneously. You may bid on any bull, regardless of lot number, by filling in a card and handing it to a ‘runner’ or agent at the board.
4. You may open the bidding at its “upset price” of $4,000 and further bids in multiples of $500 will be accepted. There is NO limit on the size of the bid.
5. Bids are recorded with the buyer’s number on a large board adjacent to the bull display area. You can bid on any number of bulls at once and can see at a glance whether your bid still stands or has been overbid.
6. There is NO pressure to commit yourself to another bid. If your first choice bull goes over the limit you can still bid on any other bull on sale.
7. A bid once submitted and recorded cannot be retracted, and the person responsible for submitting such a bid will be responsible for it until it is overbid.
8. The sale will remain open for a minimum of fifteen minutes. A bid registered in the last two minutes will result in a two minute time extension.
9. Further bids would trigger the same process until no more are received in a specified period, which would signify the end of the sale. (Note that the bidding interval may remain at two minutes throughout or may be shortened progressively to as little as 15 seconds to speed up the sale.)
This method of buying bulls combines the good features of both the auction system and sale by private treaty. You get the opportunity to bid on and buy any bull in the offering and you pay competitive market value without any pressure.
THE BENEFITS:
1. You have more time to consider lodging a bid. You can place genuine bids on any bull of your choice at any time during the sale period.
2. You have the opportunity to re-assess each lot during the sale period without any pressure to make an instant decision.
3. You have the opportunity to take home the bulls you want, irrespective of lot order. For example, having been out-bid on lot 25, your first choice, you can move back to your second choice bull earlier in the catalogue, for example lot 7.
4. If you need more than one bull, Helmsman gives you flexibility and time to average your purchase costs.
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