School Art Auction

Payments

Guaranteed Payments

The Houston Livestock Show and Rodeo™ has established a schedule of Guaranteed Premiums to be paid to all eligible junior market show and school art exhibitors. In return for the Guaranteed Premium, all animals and art become the property of the Houston Livestock Show and Rodeo at the time the awards are presented.

These animals/works of art are then sold by the Houston Livestock Show and Rodeo in their respective junior auction. This way, exhibitors know in advance the amount of money they will receive for animals/works of art sold at auction through this program.

Also, in accordance with tax legislation, the Houston Livestock Show and Rodeo (a nonprofit charitable organization) provides each auction buyer with a record of the animal he or she purchased from the Show. This disclosure informs buyers of the fair market value of an animal, and allows buyers to determine what amount of the excess payment above fair market value is a charitable contribution.

Schedule of Guaranteed Payment for Works of Art

PLACE GUARANTEE
Grand Champion Work of Art $28,000
Reserve Grand Champion Work of Art 14,000
Class Champions 5,500
Reserve Class Champions 4,500
All Remaining Placing Lots 1,500

Bonus Pool

The amount of money bid and collected between the Guaranteed Payment and the Potential Maximum Payment from each lot is reserved in the "Bonus Pool." These funds are used to offset any lots that did not sell for the Guaranteed Payment amount and for auction expenses. Any remaining Bonus Pool funds, after all Guaranteed Payment and auction expenses have been paid, are shared among the placing exhibitors. No exhibitor shall ever receive more than the Potential Maximum Payment.

Potential Maximum Payments

The Houston Livestock Show and Rodeo™ places a limit on the amount junior exhibitors can receive for animals/works of art sold at the Show’s junior auctions.

This is the maximum dollar amount an exhibitor could ever receive for that animal or work of art. Any additional payment above the guaranteed payment would come from the bonus pool.

Any money paid above the potential maximum payment is placed in the Houston Livestock Show and Rodeo Educational Fund. The potential maximum payment does NOT affect how much buyers may bid for the junior market animals or works of art.

Potential Maximum Payments for Works of Art

PLACE GUARANTEE
Grand Champion Work of Art $38,000
Reserve Grand Champion Work of Art 19,000
Class Champions 7,500
Reserve Class Champions 6,000
All Remaining Placing Lots 2,500

 

School Art

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