There is a ranch out here in Oregon that uses a similar style of sale for its annual bull and heifer sale; it's a "Cowboy Auction." Each bull or heifer has a minimum base price that the farm or ranch will sell that animal for. If there are no bidders, the animal goes unsold. If there is only one bidder, they purchase that animal for the minimum base price. If there is more than one bidder, then they increase the bid in a pre-determined increment amount ($100, $200, $250, something like that) until only one bidder remains. It is a very low pressure way to sell. A lot of people like it, and for first-time auction purchasers, it is an easy way to buy. Sometimes it is tough for a first-timer to understand the auctioneer's chants, etc., and get caught up in the auction frenzy. I like what you are doing ... the cattle sound great and and the food sounds amazing!