Droughtie society unveils new $50k national bull sale incentive

In a brand new concept that is more well-known in the racing industry, Droughtmaster Australia will launch the King of the Ring event in September and offer prize money for high selling vendors and buyers.

Vendors who offer at least three bulls in the sale will be given the opportunity to nominate one of their sires into King of the Ring at a cost of $5000.

But only 10 slots will be available in total and agents will have the final discretion on which animals are selected. GDL will have six, Elders three and one for Nutrien.

The highest price animal, or king, will receive $25,000 prize pool, a trophy, and the option to choose their selling position for the following year's sale. The vendors of the second and third highest-priced bulls will receive prize pools of $15,000 and $5000, respectively.

Droughtmasters Australia CEO Simon Gleeson said the King of the Ring will generate significant interest, attract more buyers and spectators to the sale.

"They are using a similar concept in New Zealand to sell thoroughbreds, where they have slot sales over there," Mr Gleeson said.

"This is the first slot sale that's been introduced in the beef industry and it's quite unique and if it works, it'll be revolutionary I'd imagine.

"People are going to want to get involved and if there's a chance to win $25,000, they could reinvest that back in the industry as well."

GDL stud stock agent Josh Heck, Rockhampton, said the new sale concept was a unique opportunity for vendors and buyers to have the top end bulls sold first.

"This is certainly a first that I've seen in the beef industry as far as slots type of initiative for a bull selling program," Mr Heck said.

"I think it's credit to the Droughtmaster breed for thinking outside the box and certainly the promotion that the studs are going to get out of those 10 slots will get their value out of promotion.

"It's certainly going to drive some interest into hose high end bulls and to be honest, it puts them at the forefront of the catalogue.

"Not only is there an advantage from a buying perspective, but also from a vendor's perspective to put their best bull forward and get the potential to earn a sum on top of what they're already earn for the bull."

Mr Heck said slots would be managed by the agents based on their assessment of the nominated bulls.

"Obviously, vendors and agents are going to be pretty confident they're going to have the best bull on the grounds to claim King of the Ring," he said.

"To invest in the entry fee from the start to have that bull in that elite 10, people are certainly going to be making sure that their bull in their mind is something that can certainly top the sale.

"Certainly, agents will be inspecting the bulls beforehand to make sure that they're up to the standard that we'd like to see in the first 10 bulls."

Overall sale statistics for the Droughtmaster National Bull Sale will incorporate the King of the Ring.