Introduction to Auctions
Through an online auction, your horse is seen by thousands of potential buyers. Mane Street Auctions typically has an auction once a month. Live auction dates are published on the website and are emailed to registered account holders as well as an email list of over 5,000 equestrians.
Mane Street auctions are “timed” auctions meaning they last for a specified period of time, typically ten to fourteen days.
In addition to newsletters, website announcements and emails, Mane Street Auctions promotes auctions and seller’s horses through social media, paid advertising, interviews, and a variety of other methods.
Entering a Horse in a Mane Street Auctions Online Auction
Mane Street Auctions provides a registration form that is used to gather all of the horse-related information needed to create a listing on the scheduled online auction.
The registration entry of $150 is due from Seller when the Seller Registration form is submitted. More than one horse may be entered in an auction by a Seller with just the one entry fee payment. (details are provided in the registration form)
The roles and responsibilities of Seller and Mane Street Auctions are included the Seller Contract.
If you have questions about entering a horse for auction or need assistance with the registration form or process, please send an email to email@example.com and we will respond within 24 hours.
Pre-Sale Evaluation of a Horse
We provide the Seller’s information and encourage all buyers to request a Pre- Sale Evaluation and/or a PPE from the Seller’s veterinarian.
The Seller of a horse included in an auction warrant that the information they provide is accurate. In addition to the information made available by the Seller, potential buyers/bidders may choose to examine a horse prior to the end of the auction period and/or have a veterinarian perform the examination. Potential buyer and the Seller must coordinate the examination or evaluation. A potential buyer placing a bid during an auction agrees that he/she has examined or researched the horse to their satisfaction.
Please note: No examinations of horses are permitted once the bidding period has ended.
Click on the button below for the Pre-Sale Evaluation form:
Within the bidding period, potential buyers will enter bids electronically through the Mane Street Auctions live (online) auction platform.
Seller may set a “Reserve” price which is the least amount the Seller is willing to accept for the horse. If a Reserve price is not set – the Seller must accept the highest bid. Seller is requested to set a “Starting Bid Amount.” If the Seller does not set a starting bid, the bid will default to $1,000. A typical starting bid is 30% of the reserve price.
Bidding will continue throughout the auction and when the auction ends, the highest bidder will “win” the horse.
At the end of the scheduled auction – there are two options for the Seller:
- The reserve price is met:
Buyer who won the winning bid is obligated to purchase the horse and the Seller is obligated to sell the horse to the highest bidder.
- The reserve price is not met:
Mane Street Auctions will contact the Seller and give the option to sell the horse to the highest bidder. If Seller agrees – MSA will contact the highest bidder to inquire if they agree to purchase the horse at that price. Seller will be sent a form to agree to purchase price and original contracts will go into effect.
Seller also has the option to list the horse in the next scheduled auction. The Seller will not need to re-submit the Seller’s Registration form again nor will they need to pay a registration fee. The Seller Contract and the General Conditions of Sale previously signed will remain in effect.
Sale of Horse
Congratulations on the sale of your horse! After the auction closes, you will receive an email from Mane Street Auctions with the Buyer’s information and further instructions.
The Buyer has 48 hours after the close of bidding to remit payment to Mane Street Auctions.
Mane Street Auctions will remit collected proceeds from the sale of horse to the Seller within 48 hours of receipt from Buyer; less the 10% commission payable to Mane Street Auctions. Seller must provide bank wire instructions to Mane Street Auctions. All of this information will be in the email you will receive at the close of auction. Once this is complete it is up to the Seller and the Buyer to work out the logistics of the transportation of the horse and any details involving the care of the horse in the meantime.