6 Tips For a Successful Horse Auction Bidding Experience

Get the Most Out of Our Lost Trails Ranch Auction: 6 Insider Tips For a Successful Bidding Experience

We are excited to have you visit us at Lost Trails Ranch in Mulberry, Arkansas, on June 24th at 9 AM for our Inaugural Auction. We will have “Something For Everyone.”

With a wide range of items, including horses, horse tack, boats, ranch equipment, and more, our goal is to provide an enjoyable experience for all our guests, enabling them to find the perfect products at competitive prices. Do you have items that you would like to sell? Bring them, let us evaluate them, and take advantage of our commission sales.

At the Lost Trails Ranch, we want you to have the best time and get the best deals. We have compiled some valuable tips for success to help you navigate the auction and ensure you get the most out of your bidding experience.

1. Arrive Early For a Comprehensive Preview

Take advantage of any preview opportunities offered, even if it’s the day before the auction. This allows you to closely examine the horses, perhaps even interact with them or witness the owner riding. Look out for soundness issues, conformational faults, and temperament. Converse with the owner to learn about the horse’s background and history, if possible.

Picture of a horse and its owner standing together with anticipation before an auction.

Unwavering Partners: A Bond That Rides Beyond the Auction

2. Come Prepared to Buy

Ensure you have suitable transportation, such as a truck, and bring boxes and blankets for packing. Riding a bike to an auction may limit your ability to transport large items, like a horse, and you never know when you might come across a valuable piece of furniture or equipment.

3. Timing Is Key

Consider waiting to place your first bid. Often, it is advantageous to let the initial bidding unfold and join in at a later stage with a strong bid. This approach allows you to assess the competition, determine when the horse’s reserve price has been reached, and filter out those merely seeking bargains.

The picture encapsulates the profound bond between the horse and its owner—a partnership built on trust, shared experiences, and a deep understanding of one another. It showcases the culmination of their journey together, as they navigate the intricate world of auctions with a united spirit.

A Horse Owner and Their Faithful Companion Engaged in a Pre-Auction Preparation

4. Master Body Language

Pay attention to both your own body language and that of your competitors—project confidence when you enter the auction room. While observing your opponents’ body language, be mindful of your own cues to avoid inadvertently revealing your limits. Stand tall, exude unwavering confidence, and bid assertively to potentially unsettle others. Watch for signs that your competition may be nearing its limit, such as hesitation, in-depth conversations, making phone calls, or couples exchanging glances. Additionally, keep a close eye on the auctioneer, who may employ tactics to create urgency among bidders.

5. Strategic Bidding

Deciding when and how to bid can be a topic of debate. Some experts suggest opening with a high bid to establish yourself as a serious contender and potentially dissuade some competition. The goal is to approach the reserve price closely while considering your budget. Instead of passively observing, take control of the situation by bidding early and low, setting a deliberate pace.

Remember to call out your offer in full, stating the exact amount rather than just the increment. For example, say “$25,000” instead of the bid increment of $1,000 or $5,000.

The horse exudes strength and elegance, their coat gleaming under the warm sunlight.

Embracing New Beginnings: A Horse at an Auction

 

6. Be Prepared For All Outcomes

Keep in mind that all sales are generally final at our auctions. Horses may exhibit different behaviors in various environments, making it challenging to anticipate any vices or training issues fully. Prepare yourself for unexpected situations, and remember that winning a bid means the horse is yours. While some owners may offer guarantees or trials, such instances are rare.

As you gear up for Lost Trails Ranch auctions armed with these insider tips, you’ll be well-positioned to make informed decisions, secure valuable items, and enjoy an exciting bidding experience. 

Written by Taiye

Monday, Jun 19

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