How Junior Auctions Work
Based upon placing, the Houston Livestock Show and Rodeo™ establishes a guaranteed minimum payment for each exhibitor who qualifies for a junior auctions. The Rodeo also sets a cap amount above the guaranteed minimum for each auction lot. When bidding exceeds the cap amount, the additional funds go into the Rodeo’s Educational Fund to be used for scholarship and grant recipients. Amounts bid between the guaranteed minimum and the cap are accumulated in the bonus pool, and are used to cover any lots that did not bring the guaranteed amount, as well as auction expenses and auction committees’ operations.