How to deal with multiple buyers?

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SpringArising

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I'm currently selling a horse who has received a fair amount of interest (nothing particularly fancy or expensive, just a nice type).

I have some people coming today, tomorrow and then at the weekend.

I know it's not a given that any of these people will want him, but what would be the ideal way to handle this if two lots of the people (or all three) did want him, and all three put in an offer at the asking price?
 
Whoever gets the horse vetted first and hands over the cash. Someone could say they are interested, go away to 'think' and change their mind - and you could have sold to someone else. Just be honest with them and say that there is a lot of interest and first to vet gets the horse. Unless of course you get a bad feeling about any of them and wouldn't sell to them anyway.

Personally I would sell to who the horse likes, regardless of whether they offer the highest price.
 
I do it a bit differently. If I like the buyer I take a deposit and then do not show the horse to any other people, and give the buyer a week (or whatever) to sort out the vetting.

I know how I feel when buying when I find "the one," and an undignified scramble to race for the vet would break my heart. Having said that I have always known weather or not I want the horse before I leave.

If the buyer does not proceed within the time frame then the money is yours to keep. If the horse were to fail the vet then I would return the money.

That also spares me from showing my horse to many people, which I find difficult.

I once had two people try my horse on the same day, agreed to sell to the second, and was rung up later the same day by the first who then offered me three times what the second person offered. Never regretted selling to the second though, less money but the horse was happy for the rest of his days.
 
It depends how you want to deal with it, the first to offer an acceptable price should mean you shake on the deal and take the horse off the market until it has been vetted and collected, you can refuse the first offer, even if it is full price and hope you get a cash offer without vetting and they pick up quickly, if you wait until all 3 have seen, stalling the first 2 you may risk losing them all.
If I am selling once a good offer is accepted I no longer show the horse to anyone else and expect the same if I am buying, I will arrange any vetting as soon as possible and again expect the same if I am selling one, any messing about means it goes back on the market.
 
be positive said:
It depends how you want to deal with it, the first to offer an acceptable price should mean you shake on the deal and take the horse off the market until it has been vetted and collected, you can refuse the first offer, even if it is full price and hope you get a cash offer without vetting and they pick up quickly, if you wait until all 3 have seen, stalling the first 2 you may risk losing them all.
If I am selling once a good offer is accepted I no longer show the horse to anyone else and expect the same if I am buying, I will arrange any vetting as soon as possible and again expect the same if I am selling one, any messing about means it goes back on the market.
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Would you take a deposit to take the horse off the market? My concern is that Buyer 1 will say they want the horse, so I'll take him off the market and then they'll ring up a few days later and change their mind about wanting him. I'd have then wasted X days of not advertising and potentially be out of pocket, too.
 
SpringArising said:
Would you take a deposit to take the horse off the market? My concern is that Buyer 1 will say they want the horse, so I'll take him off the market and then they'll ring up a few days later and change their mind about wanting him. I'd have then wasted X days of not advertising and potentially be out of pocket, too.
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Yes, but in the case that they just change their mind, it would be a non-refundable deposit to cover things like new advertising etc. Make this clear when deposit is taken and include it on the receipt.
 
As soon as someone gives a suitable deposit (subject to vetting if they are having one) I would take horse off market. Until I had a deposit I would continue viewings, but would let people know others are interested.
Suitable non returnable deposit (unless vetting failed) to me would be £100 minimum for horses up to £2k & higher for more expensive horse.
 
I would let the first buyer come, if they wanted him and paid in full or gave a deposit, then ring the other buyers and say hes sold. If they wanted him vetted- and you would have a fair idea whether hed pass or not- ring the other potential buyers and say he's sold, subject to vetting, and you would phone them if first buyer didn't have him.
 
I would take a deposit off the first person that wants him. Give them two weeks to get him vetted and pay the rest of the money. As said above the deposit is non returnable but if he fails the vetting I would give it back.
 
Until you get a deposit then leave the horse on the market but dont have more than one prospective purchaser turn up at the same time. If there is a lot of interest then you are more likely to get your asking price. If someone is offering lower, then you can always tell them that there are other people coming to see the horse and if they don't agree to the asking price then you will consider the first offer.
 
Just dont do what a dealer once did to me.
One girl rode the horse i wanted, then walked away. I tried her, liked her and bought her,,,,
An hour later as we were just about to drive away I was confronted by the angry mother of the 1st girl (her being in tears) - distraught that we had 'Gone behind her back' to 'sneakily' buy the horse!
I think she was a bit shocked I was so polite about the whole thing! There was no sneaking, just a misunderstanding - and no, i wasn't going to back down...
 
I had a nightmare with multiple buyers a few years ago. Big strong hunter on for 4k, ignorant brute that was best suited to a thrusting man's ride. I was inundated with calls and a queue to try him over one weekend. I had put him on just before cubbing.

Four people tried him on the Saturday and all wanted him but didn't want to put a deposit down on him, so I could not consider him sold. I had been truthful and told each viewer that someone else was looking at him after them. In hindsight I should never have allowed that many people to try him on one day. The horse wasn't bothered and was still bouncing around on viewing number 4, but I was frazzled and the phone was still ringing well into the evening with people wanting to try him on the Sunday.

It all ended badly. I had 3 people ring in the evening, confirm they wanted him at 4k and would send the vet. The 4th person rang offered £200 below the asking price no vet, and collect on the Sunday. I accepted that and the horse left but I knew out of the 4 who tried him this purchaser was the least suitable, female, small and the least experienced. One month on she wanted to return him. Selling that horse was a badly organised, unprofessional nightmare.

Now if I sell or buy I always insist on a deposit and a time frame in which to get the vet instructed and the horse comes off the market in terms of viewings.
 
I've been in this situation a number of times. I don't take deposits and I don't take the horse off the market until it has been purchased in full. I don't mention to any of the other buyers that I have other people interested as I don't want to pressurise them into making a decision. When a real buyer comes along I've found they are always very quick at arranging vettings so when they have booked the vet (usually for the next day) then I do not show the horse to anyone until after the vetting. Once the real buyer has the results of the vetting it's up to them to make a final decision (which has always been to buy) and they start paying immediately (usually bank email transfers paid over a few days). Once I receive the first email transfer I do not show it to anyone. Once final payment is made I mark the horse as sold on the advert. Anyone that I didn't think was suitable for the horse gets no further than initial email/viewing. I often sell horses for lower than other people have offered because I want them being placed in the right home; one that is matched to the horse and one that will be beneficial to promoting me as the breeder.
 
When I view a horse I agree a price with the buyer and get the horse vetted ASAP .
I make the agreement on the basis the horse is shown to no one else I never lost a horse that way .
But I think sellers know a straight forward buyer when they see one .
I lost one which I rode it went very well for me jumped so much better than with the owners groom I could tell they where surprised how it went .
Agreed a price rang the next morning to check the vet had rung the seller to be told the horse was £1500 more , I walked away it was still in the field 18 months later .
 
Like GS and add to my post above - We put a refunable deposit down i think it was 20% of price? It was on the rules of mare was now presumably sold subject to vetting - if she passed then we would have her and rest of money was given and if she didn't then the deposit money was refunded. Luckily my mare passed. :P
 
It depends how you feel about the horse and the sale.

Some say it's the first to pay the money, or put the deposit down and book the vetting.

You could let all if them see him, then you decide who you like best and who could offer the best home.

Or if the first people like him and they want him, cancel the others.

But it is the weekend coming, the vetting can't be booked until next week so you might as well let everyone try and see what you think of them.
 
My experience with my boy (buying not selling) - I went to see him on a Saturday, seller already had someone else lined up to come and see him on Monday. I called on Saturday afternoon to say I'd like to have him vetted, seller called the Monday people and cancelled them. Went back on Sunday just to see him in the field/stable again and have a nosy at his passport. No deposit, my vet went out on the Tuesday and we picked him up a week and a half later (had transport problems the weekend immediately after the vetting, but we paid in full then and took his passport).
 
I think I would make sure that all the potential buyers know that others are interested and the horse may actually be sold before they can arrange a viewing. They may just think that you are saying that to make them get their skates on, but if the horse is sold on Friday afternoon and they were coming on Saturday morning, especially if from some distance, they can't really complain as you had warned them that this might happen.
 
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