New Buyer Info
Information for New Customers
Disclaimer: These instructions are intended as a general guide for new customers. All matters related to the Sale are governed by the Terms & Conditions of Sale, which can be downloaded here: Terms & Conditions. Customers should refer to the Terms & Conditions printed in the specific sales catalog and announcements from the auction stand as final Terms & Conditions applying to a particular sale. If there is any discrepancy between the applicable Terms & Conditions of Sale and the information in this New Buyer section, the Terms & Conditions of Sale will apply in all instances. If you have any questions, contact Paul Spears at email@example.com.
BEFORE THE SALE
Standardbred Horse Sales Company welcomes new customers! We hope that this information will make their experience as pleasant as possible. New customers can obtain catalogs in multiple ways:
- Printed catalogs can be ordered by completing the “Catalog Request” form on this website.
- PDF catalogs can be downloaded from “Catalog/Downloads” page.
- Catalogs for the iPad from Equineline.com can be downloaded from the “Catalog” page.
All customers purchasing horses should establish accounts with the Company prior to the Sale by submitting a “Buyer Registration form”, which can be downloaded here:
US Buyer Registration Form International (Outside US) Buyer Registration Form
The Buyer Registration form requests contact information, expected amount of purchases, method of payment, and bank financial information. Of great importance is whether payment is planned at time of purchase, or whether you are requesting that the account be billed after the Sale. Unless pre-approved in writing by Standardbred prior to your bid, all sales must be paid at the Sale immediately with cash, cashier’s check, or bank check. Instructions about payment with wired funds can be downloaded here: Wired Funds Instructions. Wired funds on deposit will be applied immediately to purchases, and any remaining funds will be returned promptly after the Sale. New overseas customers paying by wired funds are especially encouraged to submit International Buyer Registration forms at least two weeks before the Sale. While Standardbred accepts Business Checks under limited circumstances, new customers must discuss this option personally with Paul Spears at 717 – 637 – 8931. Standardbred accepts personal checks from US or Canadian banks when accompanied by a photo ID, such as a Driver’s License. Checks from Canadian banks must be payable in US funds. Standardbred strongly discourages customers not attending the Sale from sending “blank checks” with an Agent.
New customers who have received written approval from Standardbred to have purchases billed after the Sale must be aware that payment in full is due within 30 days. To consider billing privileges, Standardbred will require additional information, including bank references and personal references, current bank/investment statements, etc. New customers requesting billing privileges should therefore submit Buyer Registration forms at least two weeks before the Sale.
If a customer will be represented by an Agent, the customer must submit an Authorization of Agent form which can be downloaded here: Authorization of Agent Form. The form also requires the signature and contact information of the Agent before submission.
Forms can be submitted until the Wednesday prior to the Sale:
- By email to Paul Spears at firstname.lastname@example.org.
- By FAX to 717 – 637 – 6766, attention Paul Spears
- By mail/UPS/FED EX to arrive by that Wednesday to Standardbred Horse Sales Company, 2310 Hanover Pike, Hanover, PA, 17331 USA, attention Paul Spears
Forms can be submitted from Wednesday prior to the Sale until the end of the Sale:
- By email to Paul Spears at email@example.com.
- By FAX to 717-233-3625 to the attention of Paul Spears
Standardbred Horse Sales Company has limited ability to approve last minute billing requests. New customers submitting late registration forms should be prepared to make payment at time of purchase. Standardbred reserves the right to approve or to deny any billing or purchase requests, or any Authorization of Agent requests, at its discretion for any reason whatsoever. Please confirm account information, billing/credit status, and Agent Authorization status with Paul Spears or other Credit Manager at the Sale before bidding.
DURING THE SALE
New to the auction? Each Consignor has a consignment area, and each horse has an assigned stall. Normally, the location of each horse is displayed on the top right corner of its catalog page. In 2020, a supplemental booklet will be published with physical locations of consignors and yearlings closer to the auction. Customers may go to a consignment area to request to see the horse. The Consignor’s representatives will be happy to present the horse for inspection. Of course, physical inspection of a large animal is inherently dangerous and should be conducted only by a trained professional. If you do not have that training, you should seek the advice of one of the many skilled trainers who are generally on-site.
Customers may also want to review yearling or race horse videos available on the Sale Video System. Additional video monitors are located at each Consignor location. Just key in the Hip number of the yearling from the catalog, and press ENTER to play the video.
New to horse auctions? Bidding on, settling for, and arranging transportation for purchases can be complicated! When a horse of interest enters the auction ring, the customer should position himself to be seen easily by one of the bid spotters. Pay careful attention to the large “Announcement Boards” above the “Bid Board” in the Sales Arena. Important information may be displayed on the “Announcement Boards” and announced from the auction stand, including veterinary issues and race eligibilities. Announcements from the auction stand are the final governing statements about the sale of the horse, so pay close attention! When bidding starts, an early bid is very important. A wave of the hand with a direct look, or a similar vivid movement will attract attention of the bid spotter. Don’t wait until the last second to bid, or you may be shut out! The current bid will be displayed on the Bid Board above the auction stand. Sales are fast and exciting, and strategic bidding takes practice. It is imperative to pay close attention to your bid spotter and the Bid Board to determine whether your bid has been recognized and is the current high bid. Beware of overexcitement. At the fall of the hammer, the highest accepted bid is a binding contract to purchase at that price. Standardbred advises customers to have a bidding plan in place. Bid as necessary up to a pre-determined limit. New bidders should have an experienced assistant, if available.
This video reviews basic sale procedures for customers lucky enough to submit a winning bid. A Standardbred “runner” will bring a yellow “Confirmation of Sale” ticket for completion, while a videographer records the transaction. Provide all required information. The customer will then receive the bottom portion of the yellow ticket, which becomes proof of purchase. The yellow ticket is needed to settle for your purchase.
All horses are sold “AS-IS”. The customer has an obligation to inspect the horse, and to bring any concerns to the attention of the Credit Manager on duty immediately after the hammer falls for the purchase. Please review our Terms & Conditions of Sale for details of this very important policy.
If Standardbred has agreed in writing to bill your purchase after the sale, Standardbred requires mortality insurance for 30 days for an amount equal to the purchase price, naming Standardbred Horse Sales Company as loss payee. Many owners purchase long term insurance. Consult with an insurance agent. An “insurance binder” should be issued and must be presented at settlement. Customers paying for purchases immediately are not required to obtain insurance, though with the risks of shipping many horsemen believe that a 30 day binder is an excellent value.
Customers making immediate payment should report to the Cashier’s Office. After settlement, “release papers” are issued. Most customers allow their trainer to make shipping arrangements. Otherwise, customers should consult with the shipping agents in the Main Hall to send their horses to their destination.
Customers who have been approved by Standardbred for billing after the Sale should go to the Credit Manager’s office in the Main Hall next to the Cashier’s Office. A clerk will review the account, and refer the customer to the Credit Manager. Customers with pre-arranged credit will likely be quickly approved. Customers without established billing privileges will likely be required to pay immediately. Once approved by the Credit Manager, the customer will then visit the Cashier’s Office with appropriate paperwork to obtain papers for the release of the purchased horse.
Customers should choose a payment method appropriate for the urgency of their need to obtain release of registration papers to transfer ownership. Standardbred will not release all registration papers until accounts are paid in full. The method of payment often affects how quickly accounts can be settled. Transfer of ownership must be completed before race horses can be entered in races. Broodmares, weanlings, and yearlings usually do not require urgent transfer of papers. You should choose a payment option that best meets your goals.
Payment Options/Release of Registrations
- Cash, bank/cashier’s checks, pre-deposited funds: registrations are released immediately.
- Personal and business checks: registrations are held 10 business days for US checks, and 30 business days for Canadian checks. These delays are necessary because Standardbred cannot determine when checks have cleared the customer’s bank. Customers paying by check who want their registrations more quickly should submit a copy or photo of their cashed check (front and back) to confirm that the check has cleared.
- Wired funds: registrations are held until funds arrive in the Standardbred account. Transmission time can be delayed for days, especially when the originating bank is overseas or when multiple banks are involved. All wire transfers must include a $50 processing fee per wire.
- Billing accounts are inferior options for customers who need registrations quickly. Registrations are held, and mortality insurance is required, until accounts are settled. Re-billing of purchases increases delays, and does not extend the term for payment before an interest rate is assessed.
- Consignor credit: registrations are not released until the Consignor authorizes in writing a deduction from their sale proceeds. Delays are often encountered around a busy sale.
Some customers plan to pay by personal check, but want registrations quickly. In some cases, the Credit Manager may approve a personal check to be held without deposit until the customer can expeditiously wire funds to settle the account, at which time registrations can be released. The check is then returned uncashed to the customer. This method is potentially faster than waiting for a cashed check to be posted by your bank.
In some cases, business checks may not be acceptable. Customers are strongly advised to discuss their intention to pay with a business check with the Credit Manager/Paul Spears prior to the Sale.
Customers without established billing privileges are unlikely to receive on-the-spot approval from the Credit Manager. All customers who want to establish billing privileges are urged to contact Paul Spears well in advance of the sale, and submit timely Buyer Registration Forms and supporting documents.
All customers must be prepared to settle for their purchases as outlined in the Terms and Conditions of Sale before bidding.
QUESTIONS? NEED ADVICE?
Please speak with Ryan Mitchell in the Cashier’s Office, or Paul Spears/Dale Welk in the Credit Manager’s office.
Questions prior to the Sale? Contact Paul Spears at 717 – 637 – 8931 or by email to firstname.lastname@example.org. At the Sale, consult with the Credit Manager on duty. We are here to help! All questions are welcome! Standardbred hopes that you will find the auction experience an enjoyable one!