Inglis has said all is in readiness for the start of the sale, with bidding to begin on Sunday (April 5) and auctions closing progressively throughout Tuesday (April 7) and Wednesday (April 8).
Government protocols surrounding the outbreak of coronavirus has necessitated Inglis moving the sale to an online auction environment.
That aspect of the sale is classified as Round 1, with the option of vendors selling through a Round 2 auction, which Inglis intends to be staged in a traditional environment at the Riverside Stables in July should government protocols permit that.
Inglis has confirmed online bidding will begin at 10am on Sunday
Inglis has confirmed online bidding will begin at 10am on Sunday, with lots selling in lot order from 10am on Tuesday and Wednesday. That means that bidding for Lot 2 (the first lot of the sale) will open from 10am Sunday and close at 10:04am on Tuesday.
Lot 4 (the second lot, as Lots 1 and 3 are withdrawn), will close at 10:06am on Tuesday, and that will process of closing bids will continue in two-minute gaps, regardless of withdrawals.
Day 2 on Wednesday will begin with Lot 258 and bidding for that lot, a colt by Cable Bay (Ire), is scheduled to close at 10:04am on Wednesday.
Day 2 on Wednesday will begin with Lot 258 (pictured) the Cable Bay (Ire) x Tuscan Sling (colt)
Such as is the case with all Inglis Digital auctions, a lot's time will be extended by two minutes if a bid is placed in the final five minutes of bidding. So if someone bids with 30 seconds remaining, the bid timer will extend to 2:30. This will continue until there are no more bids. Time extensions do not impact on the timing of other lots in the catalogue.
Other aspects confirmed include:
- Bids will be only accepted from registered bidders and bidders must only be logged in on a single device.
- Bidders can bid on multiple lots at the same time.
- Bidders need to register with Inglis online and request bidding approval/credit for the Easter Sale, with all existing Inglis Digital Accounts and Inglis Online Bidding accounts eligible to participate.
- There will also be capacity for registered bidders to conduct their bidding via telephone with assistance from Inglis staff.
- All bids made prior to the final sale will be confidential and will not be made public.
- Inglis has confirmed the minimum opening bid of $20,000 will be in place, regardless of whether it is unreserved. The system also allows automatic bids up to a maximum price set by the buyer. Bidding increments will be $5000 when the current bid is $100,000 or less, $10,000 between $100,000 and $300,000, $20,000 for current bids between $300,000 and $500,000 and $25,000 when the bid is above $500,000.
Registered participants will also be able to test run the platform on Friday from 10am-3pm to ensure it works to their requirements.
Mark Webster
“While we have over 4000 registered users built up from our highly-successful twice-monthly Inglis Digital Online Auctions, there will obviously be new clients using the online portal for the first time for what is our first ever Easter Yearling Sale Online,’’ Inglis Managing Director Mark Webster said.
“This test auction on Friday will give them and everybody a chance to trial the software, get a feel for how the online auction platform works and make themselves comfortable so when the Easter Sale goes live at 10am Sunday morning, everybody will know how the process works and how simple it is."
“This test auction on Friday will give them and everybody a chance to trial the software, get a feel for how the online auction platform works and make themselves comfortable." - Mark Webster
Inglis has also confirmed that it will limit access to the platform which hosts the bidding engine to registered bidders, limiting the load on its servers, which have been significantly ramped up by Amazon Web Services and have been load tested by a third party.
Those interested in following the sale will be able to do so through Inglis' usual website.
Inglis has also confirmed that the sale will be complemented by a Sale Day Live channel hosted by Caroline Searcy, which will begin at 9.30am on Tuesday and Wednesday. There will be previews of the upcoming day’s action as well as uninterrupted live coverage and commentary of the sale.
