Just a little post to say good luck to everyone who will be bidding in the Select Auction tomorrow. Hopefully we can all grab something we like without murdering our balances! 
This is my first auction (duh, call me captain obvious!) and I was just wondering what to except. Could someone explain the finer details to me, i.e. time frame, reserves, and stuff like that? There’s probably some post around here that has explain it before, but I looked around and didn’t find anything. I checked the newbie guide too, so I feel fairly confident that I’m not being repetitive (cause that gets annoying :shock: )
Thanks!
Yes good luck everyone!
I believe if a bid stands for 12 hours with no other bids following it, then the horse is yours, if you’ve gone over the reserve bid. You don’t know the reserve bid until you meet it, or bid over it. When you place your bid, you’ll get a notice telling you if the amount you put as your max bid is enough to win the horse.
If someone else bids on a horse, the clock is reset and it’s at least another 12 hours before the horses.
If you’re trying to outbid someone, and your max bid is not bigger than their max bid, then there will be a message that your bid is not enough to win the horse, and the other person’s bid to increase to $500 more than your old max bid, meaning that they’ll at least have to pay what you determined to be your max bid. Does that make sense?
Word of warning: Don’t expect cheap horses in this auction. These are all stakes quality horses, and reserves might be formidible. We’ve seen horses go for several million dollars here, and the usuall price is in the tens of thousands, so be prepared to spend money. You’ll find cheaper buys in the other auctions–the 2yo, mixed and foal auctions.
That being said, good luck.
For the Select auction it’s 24 hours before a horse sells…the other auctions are 12 hours.
Other than that, ditto to what Cat said.
Oh man Shanthi you put some steep reserves on those horses, but they will be worth their price (or so I’m hoping not to get a dud) 
And yes I also say goodluck to everyone… and go Jason for bidding on my horses again lol
Lindsay
I have a question. If you’re bidding on a horse and lets say you put in a max bid of 75k, it somes up as you having only bid 30k, and it still says reserve not met. That means the horses reserve is over 75k right? And if it is over 75k, how come it doesn’t automatically just show the high bid as being 75k since someone is going to have to bid higher then that to get the horse?
Sorry if that is confusing.
How can you tell the reserve?
When you bid, it will say that the bid is not high enough to purchase the horse. Your bid will be processed, but you will not “win” the horse, and the 24 hour bidding rule will not apply. Another way to check is after you bid, go back to the horse’s page, and at the bottom it will say: the reserve bid of X amount was met.
As to not meeting the reserve prices, and bidding a max of $75,000 and it only showing $30,000. $30,000 is the max bid of someone else who didn’t meet the reserve, so your bid is on top (like a regular auction), but you won’t win the horse. If someone comes along and does a max bid of 50,000, your bid will be increased to $50,500, but still not be enough to meet the reserve. If you bid over the reserve, the high bid will reflect what the reserve was set to. So, if if the reserve is $200,000, and you bid $500,000, the high bid will be $200,000 until someone else bids.
I’m still a little confused
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I bid 70k on horse A.
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Right now it says the high bid on horse A is 30.5 K
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It says the reserve for horse A isn’t met
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So I’m assuming the reserve for horse A is over 70k.
So I would need to bid over 70k to try and meet the reserve, right?
Cat if he doesn’t meet the reserve at 75k and is the top bidder it will usually show the 75k. I’ve had some trouble with this also but I thought it was just me. I have been the only bidder on a horse, and bid 100k and it shows 10k. Bid on the same horse immediately after checking(I always check) 100k again and it shows the 100k and the good old “Not Met” :lol:
Yeah, I think it tends to get a bit confused about what to do with bids that don’t meet the reserve price.
It’s not a huge deal, though, since you aren’t committed to spending that money anyway, as the horse won’t sell unless it meets its reserve.