All bidding and payments are typically made in U.S. currency unless otherwise noted. Bidding is done in increments, which may vary by both specie and individual lot(s) for each sale. A Bidder may be outbid at any time before the close of an auction. Bidders will NOT automatically receive notification if they have been outbid; thus, careful monitoring of the auction is encouraged when bidding. Unless otherwise indicated, lots and merchandise offered on the Lee Cattle Sales site will sell subject to a reserve price established by the Seller. Both the Seller and Auctioneer may bid on the Seller’s behalf in an amount not to exceed the reserve price. Seller is under no obligation to sell lots or merchandise if a bid does not meet the minimum acceptable price set by Seller.
Bidder is responsible for any bids placed under his/her or its bidding number, account and/or password. The security of a bidding account and password is the sole responsibility of the Bidder. If at any time a Bidder’s number and/or account password is compromised for any reason, the Bidder shall notify Lee Cattle Sales immediately to have the bidder’s number and/or account password changed. Placing a bid represents a valid offer between the Bidder and Seller. Once a bid is submitted and confirmed by the Bidder, it cannot be retracted. If a Bidder places the winning bid, the offer then becomes a binding contract to purchase the lot(s) or merchandise, and the Bidder is obligated to buy the lot(s) or merchandise at the final bidding price. Fraudulent bids can and will be pursued in a court of law. The Seller and Auctioneer reserve the right to accept or reject any and all bids unless otherwise stated.
In the case of a software malfunction on the part of the Auctioneer, the sale will be stopped and all Bidders notified. Handling of the situation thereafter will be at the sole discretion of the Auctioneer.
When bidding ends, all auctions shall be considered final and the Bidder who submitted the highest bid shall then become the Buyer of the lot(s). All lots purchased by a Buyer through Lee Cattle Sales must be paid within 5 days from the auction close unless otherwise noted. Failure to pay within the allotted timeframe may result in a 15% finance charge, and the registered Bidder may be banned from all future Lee Cattle Sales auctions. If a Bidder cannot immediately pay for his/her or its purchases immediately following the auction, he/she or it should not bid on the lot(s).