Keeneland sets debut of digital auction platform to coincide with new sale

LEXINGTON, Ky. – Keeneland Association in Lexington, Ky., will hold a new select horses of all ages sale on June 23 as part of its launch of a digital auction platform, the company announced on Friday.

The launch of the platform, which Keeneland is calling the Digital Sales Ring, coincides with efforts around the world by auction houses to allow for remote online bidding with the COVID-19 pandemic having disrupted normal business operations. The June 23 sale will be conducted without any onsite bidding, according to Keeneland’s director of communications, Amy Gregory.

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Bill Thomason, Keeneland’s president and chief executive officer, said in a release that the launch of the Digital Sales Ring “marks a significant milestone in our rich sales history and expands the realm of high-quality sales options Keeneland can deliver.” His statement also said that the platform “provides us the flexibility to host small, select auctions throughout the year.”

Keeneland has not held a sale this year since its January horses of all ages sale. Several U.S. sales companies are going ahead with auctions this summer, including the Ocala Breeders’ Sales Co., which will hold a 2-year-old in-training sale in Florida on June 9, with both onsite and telephone bidding available. Fasig-Tipton will hold a horses of all ages sale on July 13, with plans to allow for onsite bidding.

The Keeneland horses of all ages sale format will be select, meaning that Keeneland’s sales team will apply criteria to the horses that are allowed entry into catalog. Entries for the sale can be submitted from June 1-12, Keeneland said. The entry fee is $500, with a 5 percent commission on all horses sold, though no commission will be charged for horses that do not meet the reserve set by the consignor.

Keeneland said in a release that the company had been working on the Digital Sales Ring prior to the spread of the COVID-19 virus, but that its efforts were “expedited” beginning in March when it became clear that the pandemic would have long-lasting impacts. The platform is similar to one used by Magic Millions in Australia earlier this year, Keeneland said, and was developed with Horseco, a Kentucky technology company.

“We received positive and constructive feedback after presenting the platform to a focus group of buyers and consignors in early May,” said Bob Elliston, the company’s vice president of racing and sales. “Their input informed the final product that we are making available to the public.”