by TTR AusNZ/Dane McLeod
The Inglis Bull Ring, a new concept aimed at attracting high-end private sales, was launched by Inglis on Thursday. The new platform has been designed as a one-horse, private-style online sale, mirroring the way many high-value private deals are traditionally conducted behind closed doors, but now facilitated within the Inglis framework.
“In real simple terms, I suppose I could probably sum it up in one line,” said Inglis Digital business manager Nick Melmeth. “It's a product that allows high end stock to be traded online in a similar way to how they would be done in a private sale manner. It enables sellers to have the benefits of an auction process to get the best possible price.”
“With stallion prospects, for example, there are aspects around sensitivity of the stock and hopefully it mitigates the concerns that someone might have to go to an open public forum and still allow a clean, clear, transparent way of selling within a smaller select group of potential buyers.”
The process will begin with expressions of interest, giving prospective buyers the opportunity to complete due diligence within a controlled environment.
“For a start it will be expressions of interest to start with. It will give people their chance to do their due diligence and show their interest within a closed marketplace.”
He added, “Although the process is always anonymous until the final results, with the Bull Ring you have to actually continue to bid and engage, so you can't just be watching and observing, you have to be active and engage to see what the price will be, there will also be a threshold where if you don't participate long enough, then it will drop off again.”
The first 'Bull Ring' entry is Capitalist colt Reserve Bank. The G1 The Goodwood victor also carries wins in the G2 Tobin Bronze Stakes and Listed Redelva Stakes. He is trained by Mick Price and Michael Kent, Jr.
Bidding is scheduled to open at 9 a.m. local time on Wednesday, June 17, with the auction set to conclude the following afternoon.
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