Colyer Internet Heifer Auction - INSTRUCTIONS

Welcome to the 10th Annual Colyer Herefords Internet Heifer Auction.  We have tried our best to create a logical and easy to use online auction facility. Please read the following instructions and if you have any trouble or any questions, please give us a call 208-845-2313, email guy@hereford.com.

2011 AUCTION DATES AND TIMES
The auction has been set to run from 9:00 a.m. MDT on September 26th with the first lot selling at 5:00 p.m. MDT on Saturday, October 1st . The auction will be closed out LIVE. With this format you will have live video and audio. If you don’t have computer access, phone in bids will be accepted.  

HOW TO PARTICIPATE
In order to participate in the online auction you will need to pre-register and obtain a buyer number. To do this go to the LiveAuctions website, www.liveauctions.tv, and select the Colyer Herefords Online Auction. After logging in the buyer registration form should pop up automatically. If it doesn't there is a link you can select that says “register for a buyer number”. This form requires you to fill out your banks name, city, state, phone number and a contact. You may register to bid after bidding has opened but please remember that authorization to bid is not instantaneous.

HOW THE AUCTION WORKS
Once you have a username and have received a buyer number then you are ready. You will see a screen that is unique to your user ID. There will be a list containing the sale lots. If you click on a lot the video clip or photo will be displayed to the right. The next bid, current price, proxy bid, and manual bid buttons will be displayed below the video area. This page will react to your bids by stating “you are in” or “you are out”.
No one else will be able to see your bids – that data is not accessible to the public. Each time you login, the auction screen will display your personal bidding information. Your auction screen is unique and private displaying your activity to only you. Remember that you must have the lot that you are bidding on selected. This is where it tells you if you are in or out and you can also see your proxy (automatic) bid settings as applicable.

RESERVE PRICES
Although all of these heifers are on offer with the full intent to sell, we do reserve the right to protect our interest by placing a bottom limit price on them as necessary. Although this amount is concealed, if a lot has not reached the limit price at the completion of the bidding, the lot will not sell. If the current high bidder has exceeded the reserve price, he/she will be notified of their successful purchase upon completion of the bidding.

WHAT IS A PROXY BID?
With a proxy bid you can enter your maximum bid and then sit back and watch. When you enter a proxy bid amount the LiveAuctions system automatically bids on your behalf up to your maximum bid. If the lot closes out for less than your maximum, that’s all you’ll have to pay. This means that you don’t have to keep coming back to re-bid every time another bid is placed. This makes it more convenient and less time consuming. Your maximum amount is kept confidential from other bidders and the seller. Even though you can see this amount on your screen no one else can.

The LiveAuctions system compares your bid to those of the other registered bidders and the system automatically places bids on your behalf, using only as much of your bid as is necessary to maintain your high bid position.
The system will bid only up to your maximum amount as necessary to maintain you as the high bidder. If another bidder has a higher maximum, you’ll be outbid and the system will tell you that “YOU’RE OUT”. But, if no other bidder has a higher maximum, you win the lot.