A new digital sale platform whose founders are aiming to “shake up the landscape of racehorse auctions” launched in Britain on Thursday.
ThoroughBid, a Cirencester-based company formed in 2020 by Ross Alberto and former trainer and amateur rider Will Kinsey, is the first online-only auction house for Thoroughbreds in the UK. With plans to hold its inaugural sale later this summer, ThoroughBid aims to provide vendors and purchasers with regular opportunities to trade a range of bloodstock, from horses in training to breeding stock.
The online platform offers vendors a secure entry and listing process and the option to buy or sell in any currency. There is a 5% commission for purchasers and the company pledges to make proceeds of any sale available in seven working days from the fall of hammer.
“The launch of ThoroughBid is by no means a reaction to the way the world has been over the last year or so, but a project we've been working on for much longer,” said co-founder Ross Alberto.
“Our intuitive platform and dedicated approach to online sales sets us apart from existing operators, providing both vendors and purchasers easily accessible opportunities to trade at all levels.”
Online sales have quickly become a regular feature among the established sales companies since the start of the Covid pandemic, which has brought about significant disruption to the traditional sales calendar. Earlier this week a new digital sales world record was set in Australia when 4-year-old Group 1 winner Funstar (Aus) (Adelaide {Ire}) was sold through the Inglis Digital July Auction for A$2.7 million to Katsumi Yoshida of Japan's Northern Farm.
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