KEEP Auction Raises More Than $2.2 Million

Billed as the "greatest season auction of all time," the Dec. 3 auction of stallion seasons to benefit the Kentucky Equine Education Project (KEEP) raised more than $2.2 million.

Topped by a season to Storm Cat purchased by Frederick Herterich for $370,000, the live auction of seasons in 37 Thoroughbred stallions and one jack stallion netted $2,234,500. The Storm Cat season was sold with a provision that in the event the 2005 mating did not produce a live foal, the season buyer could breed back to the Overbrook Farm stallion in 2006 for free, provided the stallion was available. Storm Cat stands for a $500,000 fee.

The seasons were sold on a no-guarantee basis. The auction total did not include a Gone West season that was not auctioned Dec. 3 but which was sold by the Gone West syndicate for $100,000, the proceeds of which went to KEEP.

The live auction figure will be bolstered by the money generated from a silent auction and the private sale of an additional 100-plus all-breed seasons donated to KEEP.

"I think we have made history here tonight," said KEEP founder and board chairman Brereton C. Jones, noting that the total from the Dec. 3 auction in Lexington, Ky. will continue to grow over the next several months. "From now on, we will be the most important lobby in Frankfort."

According to its mission statement, KEEP was formed to build "broad-based education and grassroots initiatives to increase awareness of the benefits of Kentucky's horse economy and to promote and preserve jobs and economic opportunities within the equine industry."

Noting that seasons were donated in Thoroughbreds, Quarter Horses, Standardbreds, and other horse breeds, Jones said the most important part of the KEEP auction was that the entire horse industry was united.

When all the money from the silent auction and private season sales are included, the total to KEEP could reach the $3.5 million level, Jones said.

About the Author

Ron Mitchell/The Horse

Ron Mitchell is Online Managing Editor for The Blood-Horse magazine. A Lexington native, Mitchell joined The Blood-Horse after serving in editorial capacities with The Thoroughbred Record and Thoroughbred Times, specializing in business and auction aspects of the industry, and was editor-in-chief of the award-winning Horsemen’s Journal. As online managing editor, Mitchell works closely with The Blood-Horse news editor and other departments to make sure the website content is the most thorough and accurate source for all Thoroughbred news, results, videos, and data.

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