Keeneland: Attending an Auction

Attending an Auction

Following up my last post talking about Keeneland and the horses that have been auctioned off through the years and the many races that they have gone on to win, I am now talking about the task of attending one of these auctions.  This is a picture of a horse being sold at an auction and I found it by googling Keeneland horse auctions.  You may think that you have to be a rich person with a large knowledge of horses in order to attend one of these auctions, but anyone is allowed to show up and just witness the action.  It is free to attend an auction and they welcome people to come join in and read through the auction catalog about the horses.  Although, there are seats in the Sales Pavilion that are reserved for the buyers and sellers.

Now if you are planning to be a buyer and you want to purchase one of these amazing animals there are rules as to how and when you are allowed to see the horse and during the auction.  Buyers are encouraged to come check out the horse(s) that they plan to purchase ahead of time.  Some of theses horses will be in the Keeneland barns up to two days before the sale and you are allowed to inspect them from then until the day of the sale.  If you decide to inspect them all you have to do is go to the consignor's barn and ask that the specific horse be lead out for inspection.  You will likely need to bring along your trainer, bloodstock agent, or your veterinarian to assist in the inspection.  Any questions are open to ask the consignor's assistant during inspection.  Once inspections are finished the horses will then be taken to the holding ring behind the Sales Pavilion for one final inspection before the auction.

During the auction there is a system to how a person bids on horses.  Unlike most auctions, the buyers do not have paddles to raise if they want to make a bid.  Instead, the buyers make gestures towards the sales spotters in the Sales Pavilion that signal to the auctioneer that a bid has been made.  Once the auctioneer's hammer hits the table the horse is then signed over to the buyer.  Horses are usually required to be paid for within thirty minutes after the bid has been won.  Buyers who have been established with Keeneland have fifteen days to make the payment.  The horse is then allowed to stay at the barn for twenty-four hours before it must be transported off of the grounds.

Citation:

Keeneland Association, Inc. "Helpful Tips for New Buyers. Keeneland Racing and Sales. Keeneland                 Association, Inc, 2014. Web. 21 October 2014.