Menu
Forums
New posts
Search forums
What's new
New posts
New media
New media comments
New profile posts
Latest activity
Media
New media
New comments
Search media
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles and first posts only
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Forums
Cattle Boards
Beginners Board
Auction Language
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Help Support CattleToday:
Message
<blockquote data-quote="Texas PaPaw" data-source="post: 165480" data-attributes="member: 2905"><p>Rocksprings</p><p></p><p>Lots of good advice from others. Important points IMO:</p><p></p><p>1. Go to the auction repeatedly until you understand the auctioneer and the process. During your learning period, sit high up and far to the side, in order to observe both the ring action and the buyers. There is much to learn from watching the buyers as well as the ring. Do not buy anything until you are somewhat comfortable with the process. Buying right is a crucial factor in the profitability of an animal.</p><p></p><p>2. Before you go to buy, do your homework. Have a maximum price established for each class of animals you are considering. Give yourself an order, just like you were an order buyer. After the sale, critique your purchases, comparing them to your order.</p><p></p><p>3. During the sale, be patient, and have discipline. Do not make the opening bid! The auctioneer will continue to back down until someone bids. That person just set the bottom price for that animal. It will never get cheeper after that. Don't get into a bidding war on any one animal, there will always be another one. If not this week, there will always be next week. Stick to your price plan. If it is obvious your target price is too low, you may want to reevaluate your plan. Just don't get carried away on a particular animal. Don't go with the idea you have to buy X number of animals. If you don't get all you need, there will be next week. </p><p></p><p>4. Don't be too predictable. If your max price is $900 and you stop bidding at $900 every time, someone will figure it out and "run" you to $900 on every animal you bid on. Occaisionally stop bidding at $850-875. If someone is "running' you and you stop short, they can get stuck with the animal. It doesn't take but a couple of times to teach them a lesson. Also you may want to go slightly above your max price from time to time, just to keep things off balance.</p><p></p><p>5. An veteran auction buying mentor can be extremely valuable. Try to find one to help you.</p><p></p><p>6. Remember:</p><p></p><p> A. Good judgement comes from experience, & experience come from bad judgement.</p><p></p><p> B. In order to succeed, one must first plan to fail, inexpensively.</p><p></p><p>By studying, doing your homework and learning from the experiences of others it is possible to get experience at the least possible expense.</p><p></p><p>Just my 2 cents worth. Sorry for the length of this post.</p><p></p><p>Regards</p><p></p><p>Brock</p></blockquote><p></p>
[QUOTE="Texas PaPaw, post: 165480, member: 2905"] Rocksprings Lots of good advice from others. Important points IMO: 1. Go to the auction repeatedly until you understand the auctioneer and the process. During your learning period, sit high up and far to the side, in order to observe both the ring action and the buyers. There is much to learn from watching the buyers as well as the ring. Do not buy anything until you are somewhat comfortable with the process. Buying right is a crucial factor in the profitability of an animal. 2. Before you go to buy, do your homework. Have a maximum price established for each class of animals you are considering. Give yourself an order, just like you were an order buyer. After the sale, critique your purchases, comparing them to your order. 3. During the sale, be patient, and have discipline. Do not make the opening bid! The auctioneer will continue to back down until someone bids. That person just set the bottom price for that animal. It will never get cheeper after that. Don't get into a bidding war on any one animal, there will always be another one. If not this week, there will always be next week. Stick to your price plan. If it is obvious your target price is too low, you may want to reevaluate your plan. Just don't get carried away on a particular animal. Don't go with the idea you have to buy X number of animals. If you don't get all you need, there will be next week. 4. Don't be too predictable. If your max price is $900 and you stop bidding at $900 every time, someone will figure it out and "run" you to $900 on every animal you bid on. Occaisionally stop bidding at $850-875. If someone is "running' you and you stop short, they can get stuck with the animal. It doesn't take but a couple of times to teach them a lesson. Also you may want to go slightly above your max price from time to time, just to keep things off balance. 5. An veteran auction buying mentor can be extremely valuable. Try to find one to help you. 6. Remember: A. Good judgement comes from experience, & experience come from bad judgement. B. In order to succeed, one must first plan to fail, inexpensively. By studying, doing your homework and learning from the experiences of others it is possible to get experience at the least possible expense. Just my 2 cents worth. Sorry for the length of this post. Regards Brock [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Cattle Boards
Beginners Board
Auction Language
Top