I. Round – Bid submission
Prior notification on the commencement of the sale, and call for competition on the various horses selected, which are presented and published in the online sales catalogue at www.lipica.org, will be provided to the general public.
The notification shall include the date and time of the commencement and termination of the competitive bidding.
The value of the submitted bid must be equal to or higher than the starting price. The potential buyer should not offer less than the starting price. If he/she fails to do so, the submitted bid shall not be considered, and the potential buyer shall be eliminated.
After the termination of the competitive bidding, the online sales catalogue will be closed, and the submission of bids will no longer be possible.