How to Purchase an Auction Spot

Auction spots will go on sale to Legacy Members first. Remaining spots are then sold on a first-come, first -served basis. A spot is sold for $3,500 and can be purchased online with a credit card or by faxing or mailing in the Letter of Intent to the ABBI office with a credit card or check. The applications will be processed in the order they are received. After one hundred (100) spots are sold, all other applications will be returned.

An auction spot ensures the right to bid on a draft position at the Live Draft and Back Seat Buckers Auction held at the PBR Ty Murray Invitational in Albuquerque, NM, in March 2013. A draft position will dictate when the buyer (contractor) will be able to pick their bull(s). All Sales are Final.


H ow the Auction works

The Live Draft and Back Seat Buckers Auction will be held at the PBR Ty Murray Invitational in March 2013. Draft positions will be sold from 1 to 100. Each draft position will start off with a minimum bid of $1,000 and the following sale rules will apply:

  1. The Letter of Intent must be signed and initial payment must be paid before participating in the Live Draft.
  2. Prior to receiving bull purchase contract, payment must be made by cash, check, debit, Visa, MasterCard, or Discover or by other means as announced by the auctioneer before the sale. A valid driver’s license may be required. Buyer shall pay any and all applicable taxes unless exempted by law. Payment may be made during the sale or within 30 minutes after auction ends, unless other arrangements have been made in advance.
  3. A bid by any person shall be conclusive proof that the person has made himself/herself acquainted with these conditions of sale and has agreed to be bound by them.
  4. The buyer shall be the highest bidder. In case of dispute between two bidders, the auctioneer may reopen the bidding between the highest bidders only, until property is sold.
  5. When the Auctioneer says “SOLD,” the bull purchase contract shall pass to the highest bidder, who assumes full risk and responsibility.
  6. ALL SALES ARE FINAL.
  7. The Live Draft will take place in conjunction with the auction at the PBR Ty Murray Invitational in March 2013. The buyer of each draft position will announce their bull pick immediately after their winning bid. The last draft pick will receive the last bull available.

Post Auction

After the Live Draft and Back Seat Buckers Auction, the bull purchase contract will then be completed with the bull’s ABBI number, brand number, and signed by an ABBI representative. The buyer will be able to choose to name the bull at that time or may use this bull’s name to gain corporate sponsorship (i.e. Ford Super Duty). The buyer will assume full responsibility for the payment of $3,600 for the housing, feed, care (including but not limited to veterinarian charges) and the payment of the season’s event entry fees.

The buyer will receive:

  1. Back Seat Buckers Bull profile package for each bull purchased.
  2. Exclusive offers for Built Ford Tough Series Events at Back Seat Buckers stops and Las Vegas World Finals.
  3. Legacy Rights
    3.1. Gold Standard Stock Contractors (also referred to as Legacy Members) will have the first opportunity to buy their spots for the next Back Seat Buckers season.
  4. Additional benefits may be added.

The buyer may visit the bull at ABBI Bull Housing at ABBI discretion.

At the end of the 2013 Back Seat Buckers Futurity season, owners may sell their bulls, pick up their bull or place them into an ABBI Sanctioned sale.

Insurance                   

ABBI will provide up to a $7,500 bull mortality insurance policy, but contractors are encouraged to purchase additional insurance (available through Hartford Insurance) if the investment was more than $7,500.

If a bull dies during the 2013 BSB season, you will receive the payoff and will no longer be eligible to compete in the 2013 season.

 

Payment for board:

$3,600 at time of purchase for feed, housing, hauling, training, etc. (Payment plan optional)

Post-Program Opportunities

Once the 2013 Season is complete, bull owners have the following options:

  1. Withdraw from the program and relocate bull
    1. Owner must make arrangements with the ABBI bull trainer to have the animal off ABBI property at the end of the season.
    2. There is no penalty for withdrawing from program once the season is complete.
    3. Owners who withdraw their bulls once the season is complete are still eligible for legacy rights in the next auction.
  2. Transfer of bull.
    1. The bull may be sold and transferred to a new owner.
    2. Once a new owner is appointed, all Legacy rights will remain with original owners.
      b.i. Owner may transfer Legacy rights by notifying the ABBI office in writing.
    3. Transfer of animal will be same procedure and fees as a standard ABBI Registered animal.
  3. Enter bull in Program Sale
    1. ABBI will showcase ‘program’ animals by providing a sale outlet in which owners may place their bulls.