Lexington Sale Lawsuit

[Parked]

I would love to see the auctioneers catalog.  That should show all the reserves.. Years ago I bid on a horse to $24,000. They asked $26,000 I walked away and they were yelling “ the guy didn’t bid, you were in at $24,000 , right ?.  “.  I said no, lets try $12, 000 and they knocked it down to me and he turned out to be a decent horse. 

[Brown jug]

what do you mean buyer beware, ??how does that fit in this case
the only buyer bid $15k , was the last bid and was awarded the horse as he should have been

[The Answer]

what do you mean buyer beware, ??how does that fit in this case
the only buyer bid $15k , was the last bid and was awarded the horse as he should have been

The auctioneer made a mistake in not recognizing the reserve immediately but there was a reserve put on the horse by its owner. The owner has right to sell his horse at what he thinks it worth not what the buyer is willing to pay.Reserves are common in all auctions. Buyers need to be aware that going to the auction that there could be a reserve on a horse they are bidding on. Buyer beware.

[Calhoun]

The auctioneer made a mistake in not recognizing the reserve immediately but there was a reserve put on the horse by its owner. The owner has right to sell his horse at what he thinks it worth not what the buyer is willing to pay.Reserves are common in all auctions. Buyers need to be aware that going to the auction that there could be a reserve on a horse they are bidding on. Buyer beware.

Why don't they just set a minimum bid at the reserve price?

[The Answer]

Why don't they just set a minimum bid at the reserve price?

Because they want to screw the buyer. Buyers would back off if they knew some of the actual reserves. This is why I said buyer beware because you never know who you’re bidding against. It’s not just horse auctions either major auction houses have reserves that aren’t disclosed before the auction starts.

[Foalin at 4]

The conditions of this sale say's "TITLE PASSES TO THE BUYER AT THE FALL OF THE HAMMER, AT WHICH TIME ALL RISK OF INJURY OR LOSS AND ALL RESPONSIBILITY FOR THE HORSE PASSES TO THE BUYER"! All in Capitol letters!!!!

[Trigger]

Because they want to screw the buyer. Buyers would back off if they knew some of the actual reserves. This is why I said buyer beware because you never know who you’re bidding against. It’s not just horse auctions either major auction houses have reserves that aren’t disclosed before the auction starts.

Screw the buyer? 

Since 500 BC this type bait and switch works for this with the worst, disappointment not a screwing. 

When you have something to sell ($5  )...You Make the RULES! 

You have NO ANSWERS THE ANSWER ! 

Your parting gift...

[The Answer]

The conditions of this sale say's "TITLE PASSES TO THE BUYER AT THE FALL OF THE HAMMER, AT WHICH TIME ALL RISK OF INJURY OR LOSS AND ALL RESPONSIBILITY FOR THE HORSE PASSES TO THE BUYER"! All in Capitol letters!!!!

It also states sellers have a right to put a reserve on that doesn’t have to be disclosed. Also states auctioneer can reopen bidding if there’s a dispute between two bidders. As I stated before the court will have to decide if a reserve put on by the owner is considered a bidder.

[Trigger]

It also states sellers have a right to put a reserve on that doesn’t have to be disclosed. Also states auctioneer can reopen bidding if there’s a dispute between two bidders. As I stated before the court will have to decide if a reserve put on by the owner is considered a bidder.

 

Thank YOU VERY VERY VERY Much The Answer... 

A case in court already, you have now stated the court will have to decide! 

What would we do without your impeccable wisdom here?   

[Parked]

The auctioneer made a mistake in not recognizing the reserve immediately but there was a reserve put on the horse by its owner. The owner has right to sell his horse at what he thinks it worth not what the buyer is willing to pay.Reserves are common in all auctions. Buyers need to be aware that going to the auction that there could be a reserve on a horse they are bidding on. Buyer beware.

At a AUCTION the seller has ONE BID !!!  BUT in the disclosures it states they can bid so it becomes a show and sale. The easiest way to get around this is to have someone sign for the seller if they bid the horse in.  In that   The easiest is to give the auctioneer a reserve and the auctioneer takes air bids.  Sometimes he or the other bidder backs out or they announce 2 people in at same Price..  If they are bidding for themselves it is reported as not sold. If the reserve is not attained RNA  is reported. 

[Grandstand Handicapper]

As far as right and wrong, the auctions terms and conditions will apply. It's an estoppel. Maybe something that happened during the auction will void/supersede that. Maybe. But I do know one thing---nobody here knows that, nor does anyone know exactly what happened. Like a$$holes, everyone has an opinion. Me, I think the auction company made a mistake and tried to cover it. That might be where they have their problem. Who knows.

As far as the plaintiff, Marty Granoff is one of the most liked, well-respected, and class individuals in the sport and business. He's been in this business for over 40 years, and has been a long time partner with both George Segal and Ted Gewertz. I am sure plenty of hecklers here will have a problem with who he has used as a trainer, but what else is new, LOL.

[Stan durbread]

Because they want to screw the buyer. Buyers would back off if they knew some of the actual reserves. This is why I said buyer beware because you never know who you’re bidding against. It’s not just horse auctions either major auction houses have reserves that aren’t disclosed before the auction starts.

Screw the buyer? It is the buyers responsibility to decide what the product is worth to them. This will come down to the wannabe buyer proving that there wasn’t a second bidder. It was a Lex the delay could have been another bidder in the back that thought they won.

[Parked]

The consignor could be in the crowd and be bidding online. Somehow the auctioneer missed the reserve bid. Then the coverup began and the horse was run up to an unbelievable $44,000, the consignors reserve.  Long run with probably no one bidding but consignor. 
If you were to watch the entire (sale) you would see several if not many, instances where this happens but is successfully worked around by a professional sale conductor, not to be confused as an auctioneer. 

[Foalin at 4]

It also states sellers have a right to put a reserve on that doesn’t have to be disclosed. Also states auctioneer can reopen bidding if there’s a dispute between two bidders. As I stated before the court will have to decide if a reserve put on by the owner is considered a bidder.

   A reserve would only be a bid if it was recognized by the auctioneer! And it wasn't, the horse was hammered sold to the bidder in the back.

[Calhoun]

A Used Horse Sale went badly.

What a surprise.