Silk Road LLC has launched its digital Thoroughbred auction platform BidXSell.com, with its dedicated concierge consignment division, eCONSIGN-IT set to host its inaugural flash sale Aug. 28. The inaugural auction will feature Salute the Stars (Candy Ride {Arg}), winner of last year's Pegasus Stakes.
BidXSell was developed to allow industry stakeholders to buy and sell bloodstock at limited cost, according to a press release from Silk Road. The digital auction ring allows owners to sell bloodstock directly from farm sites and the BidXSell platform puts the remaining necessary infrastructure directly into the hands of sellers, eliminating the need for third party and commission fees.
The BidXSell platform will allow sellers to maintain their individual brand identity, hosting sales under their own name and logo. Sellers will own the content of their site and be issued links to their published sales for use in advertising, social media and communications. Users establishing a seller account will be able to sell bloodstock for a $500 listing fee, with no commission or RNA fees.
BidXSell also offers a full service “entry to exit” concierge plan with its eCONSIGN-IT division. That division will offer all services necessary to sell a horse, including veterinary, media resources, and money transfer, for a yet-to-be-announced flat fee.
The platform will offer a private auction feature which will allow boutique horses, seasons, and shares to be offered to personally invited buyers selected privately by the seller. This private auction tool will allow owners to establish the real-time market value of a horse without risking fees incurred by buying a horse back.
“This platform was created to be revolutionary,” said Saeed Almaddah, President and CEO of Silk Road. “In a legacy industry like the horse industry, the BidXSell auction platform will prove to be an economic driver in the new and vastly growing digital marketplace. It will allow breeders, owners, and consignors to capitalize on their investments at the most ideal moments, put full control in their hands, grow their industry relationships, and improve their bottom lines.”
Almaddah continued, “This will be a pivotal moment in the industry and the platform will prove to be the “Shopify” of horse sales. The platform will also connect international markets, such as the Middle East, Europe, Australia, and the United States, with the Middle East being a strong burgeoning market that will thrive on this connectivity and access.”
BidXSell.com is currently open to establish bidder accounts. The consignment division, eCONSIGN-IT, will host its inaugural sale when it offers Salute the Stars. The auction will open for bidding Aug. 28 at 8 a.m. and will close Aug. 30 at 4 p.m. More information about Salute the Stars will be available in the sale catalogue which is scheduled to post Aug. 21 at www.bidxsell.com.
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