Owners looking to fetch the best price for their horses can sell them through the Auction Ring to the highest bidder. Potential buyers also have the opportunity to inspect a horse’s form before bidding against other trainers for a particular horse.
Auctions are held twice monthly. A buyer may change his bid anytime during an auction provided it is not lower than the Current Bid. Bidding closes 24 hours after the Auction Entry has closed except when a bid is placed in the last 2 (two) minutes – it then extends for an additional 2 minutes until no further bids are placed within the last 2 minute extension. All financial auction related transactions are conducted through your wallet. If you are bidding on a horse the money will be deducted from the funds available in your wallet. Always ensure you have sufficient funds in your wallet otherwise your bids will be rejected. Funds can be transferred between your account balance and auction wallet. Bid increments are scaled according to the current bid as follows:Auctions
| Current Price | Bid Increment |
| US$15.00 - US$24.99 | US$0.50 |
| US$25.00 - US$49.99 | US$1.00 |
| US$50.00 - US$149.99 | US$2.00 |
| US$150.00 - US$499.99 | US$5.00 |
| US$500.00 - US$999.99 | US$10.00 |
| US$1,000.00 and up | US$25.00 |
Bids cannot be withdrawn, but your bid can be rejected if another stable places a higher bid. Each horse gets sold "as is", with all its applied products, supplementary fee, fitness levels and earnings. For statistical purposes, the horse’s earnings and wins prior to sale remain attributed to the seller. To enter a horse/s into Auction, simply tick the horses you wish to enter then choose to enter them either individually or as a Group. Then set the Reserve Price and add notes. Confirm your selection and pay the small auction entry fee through your basket. Auction entry fees are refunded for all horses that are sold. A 15% administration fee is deducted from the selling price for all sold horses. The reserve price can be changed anytime during an auction before bidding closes. Notes can be changed provided no bids have been placed against that horse. Horses may be withdrawn provided no bids have been placed against that horse.
Note: A horse may not be entered into a race whilst it is in an auction. Similarly, a horse may not be entered into an auction if it is entered for an upcoming race.
No comments:
Post a Comment