Bidding Procedure

Bidder Registration:  Individuals interested in bidding on a horse must go to to register to bid and be approved before they can begin bidding.  By placing a successful bid, the bidder is entering into a binding agreement with The Ohio State University and Professional Horse Services, LLC.  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. 

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 or Professional Horse Services, LLC.

Bidding Procedure: 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.  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 $2,000.  Once a bid reaches $2,000, 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.

Bidding on lots will close every five (5) minutes.  If a last minute bid is 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 November 16th, 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 on that same lot 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.  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.  Once bidding has closed, an invoice will be emailed to the successful bidder. 

Bidding Errors: Bidders should make sure to review all bids before and after submitting. If a bidder makes a mistake, they must immediately contact the Professional Horse Services, LLC (PHS) office by email (the request must be in writing). PHS may not be able to reverse the bid. PHS will not reverse bids after the auction has begun to close.

Bidding Disputes: Should any dispute arise between any two bidders, Professional Horse Services, LLC 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.