For some weeks now the new Sales Page has been up and running and for the most part is proving a great success. Sellers are able to choose to show none, some or all of the AR of the horse(s) they are selling, buyers are then able to make a more informed judgement as to whether or not to purchas the horse without the worry of "what's the AR".
The horses on sale range from multi million dollar winning stallions who are surplus to requirements, horses with great potential but who havent shown much on track yet all the way down to unraced yearlings and foals.
Some players will offer the horse for sale wiht either little or no reserve just to get the horse out of their barn. There are other players however who offer stock with a reserve that they believe to be a reflection of the horses true value or potential. It is not necessarily a horse they WANT to sell but perhaps need the stall for their new incoming stock.
Most players are happy with either system but there is a worrying trend starting to appear where a seller is being requested to show both the full AR and disclose the reserve price because the comments "high reserve" is putting off potential bidders.
This I feel is totally unfair on the seller as they are perfectly entitled to not sell a horse they feel has potential for little or no return. Many horses go through the sales in the "real world" with a reserve and this is not disclosed until the end of bidding when the auctioneer annouces "failed to meet reserve".
If the prospective purchaser doesnt think that they will be able to meet the reserve then they shouldnt be bidding, and definately not posting that it is unfair not to have the reserve price disclosed. If they are seriously interested in bidding for the horse then a private email to the seller should be sent and that way the deal can be struck in private or not as the case may be.
The only other alternative is that the seller can post the line "offers in excess of $x" so as to give bidders a chance to decide if they want to post a bid.
So sellers, its up to you - post the AR and if you have a reserve just an ballpark indication of a minimum offer. Buyers, if you have to post to ask how much the horse is you cant afford to buy it!!!
Subscribe to:
Post Comments (Atom)
2 comments:
I agree with you Nancy... the whole point of a reserve is for the "protection" of the seller.
There is no harm in putting a bid for a horse if you don't know the reserve. If you are putting a bid, that is what you can afford and what you believe is the "value" of said horse... and if you are under... guess what? The seller doesn't have to sell... but (as you said Nancy) can if he or she wishes...
Sure finding out the reserve will allow you to bid the lowest amount with a guarantee that you will be able to buy the horse... but there are other ways of finding out this information...
I also agree. Publishing the reserve should obviously be strictly at the discretion of the seller.
The sellers prime motivation is getting the best possible return for the horse, not necessarily making the auction convenient for a prospective buyer.
As Matt said, the buyer should just bid what they think the horse is worth, or what they can afford, and let the chips fall where they may.
Post a Comment