NAEBA Amends Elk Marketplace Sale Consignment Terms

May 1, 2018

 

May 1, 2018

The North American Elk Breeders Association has amended consignment terms to make the 2018 Elk Marketplace Sale more attractive for sellers. The Elk Marketplace Sale, scheduled for August 4th, features animal and semen lots sold for profit.  The NAEBA Board of Directors recently revised consignment terms as follows:

  • Consignment fees for animal lots will be $250 payable to NAEBA, per animal, with no commission on the sale.
  • Consignment fees for semen blocks will remain $100 payable to NAEBA, which goes toward the 8% commission of the sale.

The changes coincide with NAEBA’s attempt to create a strong elk sale that benefits sellers, buyers and NAEBA. In March 2017, the NAEBA Board of Directors voted to de-regulate the elk profit sale to open the playing field for a wide variety of consignments. This made the 2017 Elk Sale a success, with twenty lots consigned, up from eight lots in the preceding for-profit select sale.

The 8% commission, although already lower than industry average, still prohibits many animal consignments, particularly trophy bulls, because of the perceived loss of income for the seller on high value animals. Traditionally, trophy bulls have always sold well in NAEBA’s for-profit sales. However, in an example where a 405” inch bull may sell for $7,500, commission would be $600, making the net sale $6,900. Many speculate this could be prohibitive to making a large-scale sale. Suggestions were made for NAEBA to consider a lower commission. Since NAEBA has selected Mayes Auction Service to perform auctioneer services at no charge to the association, any consignment fee goes to NAEBA’s bottom line, minus printing costs for the catalog. Therefore, the NAEBA Board approved increasing the consignment fee for animals but eliminating the commission for sellers.

“We believe this format will result in more consignments for our sale,” said NAEBA President Andy Azcarraga. “The higher consignment fee will still be great fundraising for NAEBA and consigners will still be able to keep a higher margin on animals they sell.”

To be clear, consignment fees for animal lots will be $250 payable to NAEBA, per animal consigned. If a seller packages three trophy bulls together in one lot, the consignment fee will be $750 ($250 multiplied by three).

Deadlines for all consignments, except trophy bulls, is May 31. Trophy bull consignment deadline is July 23.


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