We'll be taking our first yearling to Keenland in 06 and I need to know some of the ins and outs of how things work. I've sold horses at auction before, but not Tbs. I'll ask questions as I think of them, but if there's anything else anyone wants to chime in on something please feel free to. This is in reference to Keenland's sale only, unless any input is basically what I can expect across the board at any Tbs sale.
When do they start taking entries each year in the sale?
What type of test such as xrays, etc are required, or that buyers like to see?
When setting a reserve, if you get close to that and decide to sell, can you sell or will it be a RNA? I know at other breed auctions they don't set reserves, you just have to be in sight of the auctioneer and say no sale if you're not satisfied.
How do they determine what day your yearling sells on, and do they inspect if you want to get into the preferred portions of the sale, or is it based on past commercial sales results?
Any info on commisions and any other costs people incurr.
This is so different than anything i"ve ever done so I want to do all my homework before I go and not look like to much of a newbie.
First time selling at auction-Keenland
Moderators: Roguelet, WaveMaster, madelyn
I can answer a FEW of the questions... the Keeneland fall yearling sale catalog closes in February. Exact date will be on the website for next year. It is $500 to nominate your yearling and $500 to put him/her in the catalog ($1K total) and then you will pay a consignor fee (usually another $1K) and a commission if you sell. You can't get down and personal with the auctioneer, if you set a reserve that is not attained, the horse RNA's. If you got close, however, and can manage to spot the last bidder, you are welcome to run after them and see if they will still buy your horse for the last bid. Lots of RNA's are sold outside. If you expect a big price, you will want your own VERY FULL X-rays, and scope.
So Run for the Roses, as fast as you can.....
The day that your yearling is sold on is determined by Keeneland. They base their decision on the yearling's page, the recommendation of the consignor, and a physical inspection (if you are requestiing books one and two and sometimes three.)
Buyers expect to see a whole battery of x-rays which should be shot ahead of time and placed in the repository. The consignor you plan to work with should be able to tell you which x-rays will be required.
Buyers expect to see a whole battery of x-rays which should be shot ahead of time and placed in the repository. The consignor you plan to work with should be able to tell you which x-rays will be required.
ccfarms,
Are you planning to hire a consignor or sell yourself? I've been told by a local that's been in the business for years that yearlings that are being sold by 'mom and pop' consignors are put into the late books (equates to lower sales prices). If you hire an agent, he/she can show the yearling to prospective buyers before the sale, something also to consider if you are not close to Lex.
I am not from KY and I figure that it costs about 3K to sell at Keeneland, this includes shipping the yearling to KY a month before the sale, after I have already been fitting it for 2 months, shoes, X-Rays, sales halter, stall card, meds, board for that month, sales expenses, entry fees. If the horse sells then add to that 5% to the consignor and another 5% to the sales company. Consignor fees vary and most charge a minimum of $500 but not all do. Typically it is 5% but on higher priced stock, some will do it for less.
Are you planning to hire a consignor or sell yourself? I've been told by a local that's been in the business for years that yearlings that are being sold by 'mom and pop' consignors are put into the late books (equates to lower sales prices). If you hire an agent, he/she can show the yearling to prospective buyers before the sale, something also to consider if you are not close to Lex.
I am not from KY and I figure that it costs about 3K to sell at Keeneland, this includes shipping the yearling to KY a month before the sale, after I have already been fitting it for 2 months, shoes, X-Rays, sales halter, stall card, meds, board for that month, sales expenses, entry fees. If the horse sells then add to that 5% to the consignor and another 5% to the sales company. Consignor fees vary and most charge a minimum of $500 but not all do. Typically it is 5% but on higher priced stock, some will do it for less.