South Africa’s longest established thoroughbred sales company Bloodstock SA have taken a quantum leap into a new era in their proud history with the establishment of a digital online sales platform that will revolutionise the way horses are bought and sold in South Africa.
The inaugural BSA monthly digital sale will commence on Friday 5 June and close at noon on Thursday 11 June.
Monthly sales will be held thereafter on the first Friday of every month, closing the following Thursday at midday, and will be open to the entire spectrum from weanlings, yearlings, broodmares to unraced and horses-in-training.
Yearling graduates of the online sales can also qualify for BSA’s popular Value Added Stakes Incentive Scheme, while an exciting diversification is the added component of sport horses from other equestrian disciplines.
“We believe that in this day and age, there is a need for a convenient and user-friendly platform that allows breeders, owners and trainers to readily trade their stock as their dynamic needs dictate. It also enhances the attraction of the liquid commodity aspect of the thoroughbred, and potentially opens the bloodstock market to a wider range of investors,” said BSA CEO Michael Holmes.
The concept of virtual sales is not new in the 21st century.
But the COVID-19 pandemic has upped the pace of change and development dramatically, and recent excellent results in Australia and Europe have shown that resistance to change is inconsequential when vendors and buyers experience the newly discovered benefits that can be derived from the use of the new-age medium.
The BSA digital sales platform was designed and developed with industry input and in collaboration with Gold Circle.
“The entire world is undergoing an evolution of change. From schooling to socialising to shopping, the global pandemic has expedited the transition from yesterday to tomorrow and changed the way we do things. And our business is one of those that will have to adapt. It is pleasing to note the recent international examples of success with the digital selling of horses and we are very proud to have developed a 100% South African product,” added Michael Holmes, who also thanked Gold Circle for their enthusiastic input and assistance.
Gold Circle CEO Michel Nairac said that collaboration and working together through exchanges of skills and expertise was long overdue in the industry.
“The various components of this industry are inexorably linked and as Aristotle said, the whole is greater than the sum of its parts. The Gold Circle team are privileged and honoured to have assisted BSA in this exciting project that will bring them in line with best international practise. Ultimately, every sector needs to succeed for racing to prosper and COVID-19 has reinforced many fundamental lessons for us all,” he concluded.
The 100% local content of the platform means that costs have been contained without compromising on quality and suitability for our market.
The broad financial framework of the online sale is:
- Entry fee – R500 (excl.VAT)
- Sales commission – 5% (excl.VAT)
- Reserve commission – 0%
- Roll-over fee to next sale -R250 (excl.VAT)
- Minimum Floor price – R5000
Holmes added that the platform still allowed innovation by the vendor and transparency for the buyer.
“It is clear that international collateral indicates that buyers bid with more confidence when information is disclosed with the support of high-quality media. We are very excited about the enormous possibilities of this rand-based product and are set to go live, with our first sale just days away.”
How it works:
- Entries open on Thursday 28 May
- Entries close at 12h00 on Monday 1 June
- Auction opens at 10h00 on Friday 5 June
- Auction closes at 12h00 on Thursday 11 June
Entry forms for the monthly online sales will be available on www.bsa.co.za.
Inquiries may be addressed to:
Alistair Gordon: Mobile – +27(0)82 551 5462 / Email: [email protected]
Ashley de Klerk: Mobile – + 27(0)84 514 1723 / Email: [email protected]