Bidding Procedures

Bidder Registration: A bidder must go to http://buckeyebonanza.horse to register and be approved to receive a user name before they can begin bidding.  By placing a successful bid, the bidder is entering into a binding agreement with The Ohio State University.  Only persons who can enter into legally binding contracts under applicable law may bid.  Bidders must be 18 years of age or older to register for this auction. If bidder is registering as an agent or using a business name, bidder represents that they have authority to bind the user or business name to these Terms and Conditions.

Bidder is responsible for providing accurate registration information that will be used to identify them to this on-line auction and allow The Ohio State University to contact bidder.  Bidders should update any changes in contact information immediately.  Any error caused by bidder’s failure to do so is not the responsibility of The Ohio State University.

Bidding Procedure: To bid on a horse, create a bidder name and password or sign in with a previous account and click on the “make bid” button on the screen for the horse you wish to bid on.  All bids are in US Dollars and are non-revocable.  All bidding will be performed on the Internet by registered and approved bidders.  Bidders are responsible for monitoring their bidding activity.  Bidders will NOT receive notification if another bidder outbids their bid.  While the pages are refreshed automatically bidders are advised to also refresh the pages on their own. 

A bidder may place individual bids that are $50.00 higher than the previous bid up to $1,500.  Once a bid reaches over $1,500, bid amounts increase to $100.00 increments as indicated by the auction system.  Alternatively, a bidder may place confidential maximum (proxy) bids where they declare the maximum dollar amount they wish to bid, and the computer will bid on their behalf until the bidder has successfully purchased the horse or the asking price exceeds the amount of their maximum bid.  Maximum bids are strictly confidential and are not known by other bidders or The Ohio State University.

It is recommended to place a confidential maximum (proxy) bid to ensure that you as the bidder do not get outbid until your limit is reached.  The auction will then automatically execute a bid if you are outbid, while keeping the price as low as possible without exceeding your maximum bid price.  With this system, a bidder doesn’t have to watch the auction continuously to make sure they are not outbid.  However, bidders should still monitor bidding periodically.  If a bidder’s maximum (proxy) bid is outbid before the auction closes, you may place additional bids as desired and as time allows.

If late bids (last minute) are received on a horse, an additional 5 minutes will be added to the countdown timer on that lot to extend bidding.  Only after a 5 minute period passes with no additional bidding will the bidding close.  This allows for bidders to have more time to think and react than with a live auction.  For example, if on April 18th, a bid is placed at 7:59 pm on a lot that closes at 8:00pm, then the bidding will be extended until 8:05 pm.  If there are not additional bids then the auction will close at that time.  However, if for example another bid is placed at 8:04 pm, then the bidding would be extended to 8:09 pm. 

Transmission time varies and bids are time stamped by the host computer with the time received.  Bids must be received by the host computer prior to close of the auction to be accepted.  The lots for the Ohio State University Buckeye Bonanza Online Horse Auction will close at the following times on Thursday, April 18, 2019 unless bidding is extended as stated previously.

Lot 1 - Patron, closes at 8:00pm EST
Lot 2 - Kahlua, closes at 8:10pm EST
Lot 3 - Hogan, closes at 8:20pm EST
Lot 4 - Moonshine, closes at 8:30pm EST
Lot 5 - Fireball, closes at 8:40pm EST

If an error occurs and a winning bid is placed that is not an increment of $50.00 or $100.00 as stated above, the successful bidder agrees that the amount will be rounded up to the closest $50.00 increment if up to $1,500 or $100.00 increment if over $1,500.  For example, if a bidder fails to bid at the proper increments and placed a winning bid at $920, they agree that they will pay $950 as the purchase price.  If a bidder places a winning bid at $2,020, they agree that they will pay $2,100 as the purchase price. 

The bidder agrees that if they have the winning, final bid, or accepted bid in auction, they have entered into a binding agreement with The Ohio State University to purchase the horse.  When bids close, all sales are final.  A bid by any person shall be deemed conclusive proof that such person is familiar with the Terms and Conditions as stated herein and that the bidder agrees to be bound by them.

The Ohio State University will decline any bids made by parties who have defaulted on former purchases, or persons who at the discretion of the University are not responsible bidders, and The Ohio State University’s decision shall be final.  The successful bidder will be notified by email on April 19th and receive a formal letter of purchase at pick-up.

Bidding Errors: Bidders are responsible for any bids placed under your username and password.  The security of bidder information is the sole responsibility of the bidder.  The bidder will be responsible for any and all bids placed under the assigned name and/or number.  The bidder should make sure to review all bids before and after submitting. 

If, at any time, the bidder feels that their username and password have been compromised due to lack of security on their part or an error has occurred, the bidder must notify The Ohio State University Equine Program immediately at (614) 614-459-4208.

Bidding Disputes: Should any dispute arise between any two bidders, The Ohio State University shall adjudicate the dispute and the decision shall be absolute.  Bids received after the closing of the sale are not valid.  The Ohio State University reserves the right to reject any and all bids.

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