Keeneland September To Introduce RNA Reoffer Program

Keeneland is offering a new component for sellers with yearlings cataloged on Day 1 of the 2021 September sale. As a safeguard for those sellers who may feel disadvantaged by an early placement in the session, we will institute an RNA Reoffer.

Below are the key details of this new initiative:

  • Sellers with yearlings that RNA during Session 1 will have the option to resell immediately after the last cataloged hip of Session 2.
  • To participate in the RNA Reoffer, sellers must inform the Sales office in writing no later than 30 minutes following the sale of the last hip of Session 1.
  • A reserve must be placed and approved on reoffered horses, and must be within 15 percent above or below the initial hammer price.
  • Keeneland will list and promote horses participating in the RNA Reoffer to buyers the evening of Monday, Sept. 13.
  • In the event a horse RNAs a second time, a 2.5 percent commission will be based on the higher buyback hammer price.
  • Sellers will have the right to sell a yearling listed in the RNA Reoffer privately beforehand, but must notify the Sales office immediately of such a private sale so the appropriate announcements can be made.
  • Horses sold in the RNA Reoffer will be recorded as if they sold in their initial hip number and time slot. Similar to private sales, only one record will be published in the final sales results.

Additionally, in cooperation with the CBA, we have decided to combine the final two sessions of the September Sale (those horses cataloged to Sessions 11 and 12) into a single session on Friday, Sept. 24 to conclude the sale during a three-day Book 5. This joint day of selling will offer Session 11 hips in the morning and Session 12 hips in the afternoon. The adjustment will allow buyers to have a full day of yearlings to consider rather than two shorter sessions at the end of the sale, and generate a more vibrant market for all involved on Friday.

The post Keeneland September To Introduce RNA Reoffer Program appeared first on Horse Racing News | Paulick Report.

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