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Payment for cattle sold in big shows/sales

cutterone

Well-known member
In some tailgate discussion about showing and selling cattle in the bigger shows/sales one of our neighbors said he had sold some a few times but wouldn't ever again as it took forever to get paid - sometimes 3 to 4 months. Just wondered if anyone else had experienced this to be true.
 

Red Robin

Well-known member
cutterone said:
In some tailgate discussion about showing and selling cattle in the bigger shows/sales one of our neighbors said he had sold some a few times but wouldn't ever again as it took forever to get paid - sometimes 3 to 4 months. Just wondered if anyone else had experienced this to be true.
Sometimes it works that way. It depends on how the person that purchases the animal pays. They disburse the funds after they get paid.
 

Northern Rancher

Well-known member
I was on the Sask.Angus board when this topic came up-we were looking over tenders for a major board sanctioned sale. There were board members absolutely giddy over the fact they'd get a 70 percent payout at the day of sale. It amazes me that anybody would pay a sale manager 10-15 percent commission then wait on their money while he collects from the buyers-it's just poor business. When I buy cattle at an auction mart I'm expected to pay for them or I don't buy any more-if an auction mart doesn't pay it's consignors it's not in business very long. Just another example of purebred cattle silly business. Don't think for a minute that most sale managing outfits don't have some nice term deposits sitting there while they are supposedly 'collecting'. More power to them I guess if their customers allow it. I haven't heard of many of them 'waiting' on their commission owed lol.
 

Mike

Well-known member
Auction barns in the USA must be bonded and registered with the USDA.

"Sale Consultants" & "Sales Managers" do not. :roll:

Collecting interest on a few hundred thousand dollars of someone else's money for most of the year could be nice.
 

Red Robin

Well-known member
You fellas have a point. If I ever raise one that I find good enough to sell in a national sale, I'll just take him to the sale barn and get the sure money. :lol:
 

cutterone

Well-known member
Maybe it takes a while to shuffle the paperwork on all that "funny money" big high dollar amounts on some of those cattle. I think I just saw where some bull sold for $245000 - Yea right!
 

loomixguy

Well-known member
Anybody who sells a critter at auction and doesn't leave with a check is ESTUPID!

The critter(s) may as well have been stolen, since you don't have the animal and you don't have the money. It's not up to the seller to guarantee the buyer's check.

They tried to pull this crap on me years ago at a sale in North Platte. When I told them I'd no sale the horses and haul them to the sale at Benkleman the next day, they were able to write me a check PDQ!
 

kolanuraven

Well-known member
Red Robin said:
You fellas have a point. If I ever raise one that I find good enough to sell in a national sale, I'll just take him to the sale barn and get the sure money. :lol:



And to think we've been doing it wrong all these years!!!! :lol: :lol: :lol: :lol:
 

Doug Thorson

Well-known member
Do you thnk that those fellas that sell on Superior auctions get their money the same day?

I have registered with Superior for a bull sale and was told that if I bought something I would be put through to the bulls owners to arrange for payment. That was an on-the-ranch sale though. I am fairly sure they have to gaurentee the checks for the feeder cattle they sell though.
 

loomixguy

Well-known member
Don't know and don't care. There is no reason the funds couldn't be wired to their accounts within 1 hour after the end of the sale.

Like I said, the critters may as well have been stolen, if you haven't got possession of them OR the money.
 

Denny

Well-known member
When you buy on Superior you have to wire transfer a $40 per head deposit.When the cattle ship out the Superior Rep write's a check to the producer and the purchaser is suppose to wire transfer the remainder of the balance to superior immediatly.This is on feeder cattle sales.It seams to work for them..
 

Northern Rancher

Well-known member
I can see our purebred folk don't seem to mind-shows there's business then there's show business lol. Some of the biggest players are the biggest deadbeats at paying up. They can put on the act at the big sales but most salebarns wouldn't let them buy two bucket calves on credit lol. there was actually a pretty good letter to in the last canadian Angus news from a longtime Canadian breeder at how big the problem was becoming. it probably doesn't hurt the high rollers but I know of some small purebred breeders that have suffered more than they should waiting on their money. kind of leaves a bad taste when the one of the name outfits buys your critter then leaves you financing them for six months.
 

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