The following appeared on The Racing Biz website.
Fasig-Tipton will offer online bidding at all its future live auctions, the company announced today. The platform will be available for Fasig-Tipton’s next scheduled auction, the Midlantic Two-Year-Olds in Training Sale, to be held June 29-30 in Timonium, Maryland.
“The addition of online bidding to our live auctions is a service we are pleased to offer,” said Fasig-Tipton President Boyd Browning. “At no other time has this service been more crucial or needed. As we all work to conduct business in the current COVID-19 environment of adjusted social norms, online bidding ensures the best possible marketplace for our buyers and sellers in 2020. Looking beyond 2020, we envision this service being an integral component of all future auctions.”
Hip 150, a son of Jump Start, brought a top bid of $130,000 at the 2019 Fasig-Tipton Midlantic Fall Yearling sale. Photo by The Racing Biz.
As an additional service to buyers, the company will also further expand its long-established phone bidding program for the remainder of 2020. The service allows prospective buyers – who are not on site at an auction – to bid on horses through a member of Fasig-Tipton’s staff.
Fasig-Tipton will also launch a timed, online only auction platform at a future date, when appropriate. The platform will complement the company’s live auction lineup, offering buyers and sellers additional transaction opportunities that fall outside of the traditional live auction calendar.
“In the world that we live in, companies need to be flexible and willing to adapt,” continued Browning. “Fasig-Tipton will always seek to be innovative and ready to adjust our sales models to best serve the marketplace.”