Online Results, Payment & Preview Info Crundwell Live Auction

Live Auction in Dixon, Illinois: September 23 & 24
Performance Horses (Part 1) and related equipment, Sunday, September 23
Performance (Part 2) and ALL Halter Horses, Monday, September 24

Important Notices
Buyer’s Premium will be charged at this Auction
10% Buyer’s Premium for horse purchased up to $250,000
8% Buyer’s Premium for horses that sell for more than $250,000
Buyer’s Premium is added to the final bid to establish the purchase price

Professional Auction Services, Inc. will not assess or collect sales tax.
$250 Deposit Required to Register for Bidder’s Number
Deposits are 100% Refundable for unsuccessful bidders.
Deposit will be applied to purchase price for successful bidders.

LIVE AUCTION – FREE ADMISSION
Payment Information

ACCEPTABLE FORMS OF PAYMENT
• Cash or cashier’s or official bank check, or traveler’s check, payable to Professional Auction Services, Inc. (Cashier’s or official bank checks made payable to the remitter are not accepted.)
• Payment by Bank Wire transfers requires a deposit of 20% of the purchase price or $10,000 (whichever is greater) on the day of the auction or prior to the auction. No horse or item will be released until full payment is received and verified.
• BALANCE OF FULL PAYMENT is due within 3 days after the auction. *
• PERSONAL OR COMPANY CHECK WITH AN ORIGINAL VERIFIED, IRREVOCABLE BANK LETTER OF GUARANTEE addressed to Professional Auction Services, Inc. and PRESENTED TO PAS prior to Noon, Friday, September 21 for horses selling on September 23 and prior to 11:00 AM CDT, Monday, September 24 for horses selling that day. MUST BE a letter of GUARANTEE not a letter of Introduction.

PAYMENT TERMS for U.S. Buyers:
• Lots selling for under $10,000 must be paid for in full on auction day.
• Lots selling for $10,000 or more must be paid for in full within three (3) days, with a deposit of $10,000 or 25% (twenty five percent) of the purchase price (whichever is greater) due on auction day.
• BALANCE OF FULL PAYMENT is due within 3 days after the auction.

INTERNATIONAL BUYERS ONLY
including Canada and Mexico
BY Advance deposit with PAS of the FULL AMOUNT of intended purchase priceby wire transfer, or cash equivalent in U.S. Dollars. Any unused funds will be returned in the same form as received or by PAS company check within ten business days from auction.

PREVIEW OF SALE HORSES
• Preview dates for Dixon, IL are September 20, 21 and 22 at the Ranch.
• Ranch Address – 1556 Red Brick RD, Dixon, IL
• Parking is available at the Ranch for PREVIEW DATES ONLY.
• Gates are open 9 a.m. to 5 p.m.
• You must have an appointment to view. Please contact (800) 240-7900 or info@ professionalauction.com with viewing date, arrival time, and number in your party.
• Only Professional Auction Services, Inc. staff will be allowed to handle horses during preview days. Upon request the horses can be longed or ridden for you to observe.
• Bidders and Spectators MAY NOT enter Stalls or Pens.
• Ask Sale Staff for Assistance to view horses.

Some Things You Should Know
Horses WILL NOT SELL in catalog order.

Sunday Session, September 23
Saddles First
Performance Horses

Monday Session
Remaining Performance Horses
Show Halters
Halter Horses

The tack and horse related equipment has been released to sell.
It has not been determined when is will be sold over the weekend.
It WILL NOT be offered to online bidders. Must be present to buy.

This is the information we have on what we will sell as listed on the court order.
Approx. 250 count bridles, bits, reins
Approx. 17 count of saddle pads, blankets and saddle covers.
This all we know so far, so if you call us, this is what we will tell you.

PREVIEW – 1556 Red Brick Road, Dixon, Illinois
September 20, 21 & 22
Appointment REQUIRED
Onsite parking for Preview

NO ONSITE PARKING ON AUCTION DAYS
Remote parking only. A shuttle bus will bring you to the auction site

Professional Auction Services, Inc. will not assess or collect sales tax.

Results Summary
Phase 1, the Online Auction

U.S. District Court Ordered Dispersal of Horses in United States of America v. Rita A. Crundwell.

Phase 1 – The Online Auction
Day 1 – Average: $25,442 Gross: $1,068,600
Day 2 – Average: $15,068 Gross: $572,600
TOTAL: Average: $20,515. Gross: $1,641,200

High Selling Halter Horse: I Execute Class – $226,000
High Selling Performance Horse: IE Copy – $101,000

ALL final bids approved.

$20,515 is the highest average price for a Halter/Pleasure auction ever.
A clear answer to the question “will an online only auction work?”

Complete Results with Buyers will be available at http://professionalauction.com when approved by the USMS.

September 23 & 24 – EDJEcast live auction online bidding or for bidding onsite

Please DO NOT login with your previous username and password on the online.professionalauction.com web site. Follow the instructions below. You will be taken to our secure shopping cart to make your deposit.

At http://online.professionalauction.com–* Choose “Create An Account” in gold box, top left, or “Register to Bid” in auction listing?* Complete Form to create user name and password with Edje Auctions.

* A pop up window will appear with instructions to continue to EDJEcast auctions page.?* Log in with username and password (on your first visit choose auction interest.)??* Scroll down list of auctions to and Select – DISPOSITION OF SEIZED HORSES September 23, 2012
– Choose: Register to Bid
– Complete the required information

– You will automatically be sent to the secure shopping cart where you will your enter credit card information for $250 bid deposit.
– Once your credit card has been charged you will receive an email with our bid number and the terms and conditions of sale. You will also receive an email with the receipt for your credit card charge.

Your bidder number is good for onsite bidding and online bidding on the live auction.
September 23 & 24 – EDJEcast live auction online bidding or for bidding onsite.

We will have an express lane for you to pick up your bid card at the auction office.

No Liens

The U.S. Marshals Service has been ordered by the Court to sell all horses within the defendant’s herd, regardless of location. A lien or encumbrance will not be assessed as a part of any sale price. Transfer of a horse will occur forthwith following sale. The U.S. Marshals Service will coordinate with the AQHA to effect ownership transfer following sale. The Court’s Order reads, in part:

3. at page 5 – “. . .the United States Marshals Service shall sell the defendant properties in the most commercially feasible manner, including but not limited to live and online auctions; it is further ordered,”

6. at page 6 – “In furtherance of the interlocutory sale and disposal, the United States Marshals Service or its authorized agent is authorized to prepare and sign any and all documents relating to the sale and transfer of ownership of the defendant properties.”

9. at page 6 – “Rita A. Crundwell shall execute any documents necessary to effectuate the interlocutory sale and disposal of the defendant properties; it is further ordered.”

11. at page 6 – “This Court shall retain jurisdiction in this matter to take additional action and enter further orders as necessary to implement and enforce this protective order directing the interlocutory sale of the above-identified property.”