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COLORADO STATE UNIVERSITY 16TH STALLION AUCTION
REGISTRATION TERMS AND CONDITIONS

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Registration. Bidders must register on the auction site prior to placing bids. To successfully register, bidders must tick box stating they have read and understood the terms and conditions of this auction. (A valid email address is required to participate in this auction event. Email is used to communicate password, bidding information, winning bidder notification and invoicing). Upon registration you will be e-mailed a Username and password (system generated).

All Bids are FINAL. Bids below the starting bid price will not be accepted. Bidders are advised to review a breeding contract from the appropriate stallion owner/agent prior to the auction.

Notification-Winning Bidder. If you are the high bidder when the timed auction event closes, you will be emailed a winning bidder notification.

Payment Terms: Payment is due by 5:00 pm MST, February 2, 2015 or the next bidder in line receives the opportunity to purchase the breeding. We accept Personal Checks, Visa or MasterCard, or Direct Bank Transfers.  Winning Bidders will be notified by email after all lots in the auction close. 

Bidding Currency: US Dollars (USD).

 

Bid Increments: The bid increment is the minimum amount that each bidder may increase the bid:

 

Starting

Bid               Increment

$0                $10

$500             $25

$1,000          $50

$10,000         $100

 

Agreement to Abide by Breeding Contracts. By placing a bid, the bidder agrees to abide by the terms of the stallion owner/agent breeding contract, and to pay in full for breeding and for any fees or charges beyond the breeding fee, including but not limited to booking fees, per-day mare care, veterinary expenses, costs associated with frozen or chilled semen shipment, foal registration fees or re-breeding fees. Registration of a foal resulting from this breeding is subject to all the established rules and regulations of the stallions’ breed registry.

 

Refunds. The bidder understands that if he/she should place a winning bid and the stallion should be gelded, be sold prior to the breeding or should die, only money paid to Colorado State University for the auctioned stallion service will be refunded and shall constitute payment in full for any damage that may be incurred by the bidder and/or his/her agent. 

 

No Guarantee. The seasons are offered on a NO GUARANTEE non-refundable basis (exception contract marked LFG, which are sold LIVE FOAL GUARANTEE, according to the terms of an individual stallion owner/agent contract).  All breedings are for the 2015 Breeding Season unless otherwise noted on contract.

The breeding fee listed does NOT include the chute fee, farm fee, freight or container charges unless otherwise specified. Every effort has been made to list additional fees a mare owner might incur; however, we strongly suggest that you contact the breeding facility or stallion owner to determine total fees that might be payable to the breeding facility.

Timed Event Auction

The CSU Stallion Auction is an extended bidding auction which allows the system to automatically extend the closing time of a listing based on bidding activity within a designated period prior to the scheduled closing time (5 minutes). Extended Bidding is a system wide setting and applies to listings on an individual basis.

Therefore, if a Bid is placed within the last 5 minutes of the designated closing time, the closing time automatically extends 5 minutes from the time the bid is logged into the system. The "new" closing time is indicated under "Extended Closing" on the bid form. Subsequent bids on the item will continue to extend the listing's closing time until there is a 5 minute period without any bids. This applies to any Bid that is accepted by the system.

The following example assumes Extended Bidding is set to 2 minutes (120 seconds in the system). The actual Extended Bidding time for this web site may differ and is stated above. For example, if the scheduled closing time for an item is 5:00:00 PM EST and a bid is logged at 4:59:15 PM ET then the closing for that item will be extended 2 minutes to 5:01:15 PM ET. If a subsequent bid is placed at 5:01:00 PM ET then the closing will extend to 5:03:00 PM ET. If no other bids are accepted then the item closes at 5:03:00 PM ET.

Advantages:

  • Allows a Bidder, whose Limit Bid is beaten in the last minutes or seconds, time to re-bid. This prevents a bidder from being "shut out" (also known as sniping) as they would be if the listing had a "fixed closing".
  • Allows a Bidder, whose last minute Bid does not overtake the current Bidholder's Limit Bid (if applicable), time to bid again if still interested in the item.
  • Extended Bidding more accurately simulates a "live" event where the bidding ends only when the participating parties discontinue bidding within a certain time period.

Auto-bidding/Maximum bidding feature

·         This feature makes bidding convenient so you don’t have to keep coming back to re-bid every time someone places another bid. When you place a bid, you can enter the maximum amount you are willing to pay for a breeding. The seller and other bidders don’t know your maximum bid. The system then places bids on your behalf using the automatic bid increment amount. Your bid is increased only as much as necessary to make sure that you remain the high bidder up to your maximum amount. If another bidder places the same maximum bid or higher, you are notified so you can place another bid.

·         Here is an example:

·         Bid is set at $1000. Garth enters a maximum amount of $2500 and selects Bid Now.  If the current bid is a $1000, the system will enter the winning bid for the user and only enter the next bid for Garth when he is outbid.  The bids will only increase by one increment each time.

·         Garth enters max bid of $2500 and the system only enters a $1000 for the starting bid, so Garth is high bidder.

·         Henry’s bid = $1050 and he becomes high bidder.

·         Garth’s new bid = $1100.  This is done automatically by the application until it reaches the $2500, but it only increases by one increment if Garth is outbid by another bidder.  This is the auto bidding feature. 

·         It continues this way for the bidder until the max bid is reached or the ‘timed event’ concludes.

 

 

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