Houston Rodeo Auction

[texansfan]

https://m.chron.com/news/houston-texas/houston/article/Champion-steer-sells-for-410-000-at-Rodeo-auction-12761124.php

If your kid wins the big $400k Grandmaster prize at auction how much of that actually goes into the kid's pocket (does the auction take a seller's cut)?

What's all involved? Seems more to it than one or a few folks want to spend almost half a million on a steer.
Or do they get stud fees for a ROI out of this?

I'm trying to figure out how this works.

[jtempleton]

Every steer sold at Houston the exhibitors are guaranteed a minimal price. This way if steers that sell later in the sale don’t bring the minimal guaranteed price they use the money from the ones that sold higher to fill the gaps. If the sale does real well as a whole then they spread the wealth to all exhibitors. The buys can choose to have them processed or put into a resale where they are auctioned at market price. No breeding since all these have had to be casturated which is what a steer is.

Some shows give all the money to the exhibitor but Houston like to spread the wealth.

[Texantax]

https://m.chron.com/news/houston-tex...n-12761124.php


If your kid wins the big $400k Grandmaster prize at auction how much of that actually goes into the kid's pocket (does the auction take a seller's cut)?

What's all involved? Seems more to it than one or a few folks want to spend almost half a million on a steer.
Or do they get stud fees for a ROI out of this?

I'm trying to figure out how this works.

Stud fees from a steer

[systemnt]

stud fees from a steer

roflmao!!!!! :d

[hchntr]

I was my understanding that all of the money that is raised above the guaranteed cap goes into the scholarship fund.


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[aggie2000tx]

The above was the payout and maximum payout for the steers. The rest of the money is used for the Educational Scholarship Fund and to help with the guaranteed price of other animals in the sale.


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[texansfan]

The above was the payout and maximum payout for the steers. The rest of the money is used for the Educational Scholarship Fund and to help with the guaranteed price of other animals in the sale.


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Oh thanks!

That chart was really helpful as was the 1st reply

And I totally flew by "steer"

[Quackerbox]

I was my understanding that all of the money that is raised above the guaranteed cap goes into the scholarship fund.


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Thats what they claim anyway

[Ryanm]

It's my understanding that they used to give most of the money to the exhibitor. When they started interviewing kids that received large sums of money, they realized it wasn't being spent the way they intended (mostly education and what not). Kids were buying expensive cars and other items, basically blowing the money like a lottery winner. The rodeo decided to move everything over to a fixed winning structure committed to scholarships.