Consignment auctions

Help Support CattleToday:

Agboy

Well-known member
Joined
Oct 22, 2005
Messages
102
Reaction score
0
Location
Nebraska
I was just curious if anybody has sold anything at a consignment auction. Just curious on when they settle up. Is it the same day or several days. Somebody told me it could be up to two weeks. Whats your guys experiences have been. Thanks for any help.
 
Agboy":2ab66qr7 said:
I was just curious if anybody has sold anything at a consignment auction. Just curious on when they settle up. Is it the same day or several days. Somebody told me it could be up to two weeks. Whats your guys experiences have been. Thanks for any help.

Our experience in both female and bull Angus consignment sales has been about a month before we receive a check. The sale secretary has to pay all expenses first, then mail the checks. Magazines bill for advertising only once a month, so, that can hold up the checks. They wait until each buyer's check clears before they pay out any money. If there are out of state or bad checks, that can hold things up. Papers have to be transferred. I expect it will vary from sale to sale, so if you're thinking about selling in one, ask the management people how long it usually takes to get paid.
 
Our sale takes about 2 weeks. They wait until all the checks clear, some of which are mailed in from out of state buyers.
 
Anywhere from 2 - 4 weeks... depends on how busy the sales manager's schedule is, how soon all the checks from the buyers clear, AND how long it takes all the bills to be submitted and paid (facility, feed, etc.)
 
Here I thought everything was quick settlement like a sale barn is. Doesnt sound appealing to wait a month to get settled up. I cant imagine things being that slow with everything computerized. Boy you never seen anybody advertising that part off it. A definite turn off. I cant imagine selling several thousand dollars worth off stuff an waiting that long. Why is a salebarn different here. Cant figure it out.
 
Agboy":2owivng6 said:
Here I thought everything was quick settlement like a sale barn is. Doesnt sound appealing to wait a month to get settled up. I cant imagine things being that slow with everything computerized. Boy you never seen anybody advertising that part off it. A definite turn off. I cant imagine selling several thousand dollars worth off stuff an waiting that long. Why is a salebarn different here. Cant figure it out.
Generally consignment sales are of a higher quality animal and bring bigger dollars then the generic salebarn cattle. If you're in a hurry for the money you wouldn;t nominate them for the sale 2-3 months ahead of the sale, haul them to the sale facility a day ahead and waste your time feeding and watering them until the sale.
 
It took over two months for me to get my money from a registered Limi sale.
 
It just took me about 6 weeks to get paid from a bull sale. Seems reasonable what with needing towait for the checks to clear and all the other expenses. For what they made me on my bull it was worth the wait.
 

Latest posts

Top