Silk Road LLC has introduced its digital Thoroughbred auction platform, BidXSell.com, along with a dedicated concierge consignment service, eCONSIGN-IT. The platform is set to host its first flash sale on August 28, featuring Salute the Stars (Candy Ride {Arg}), the winner of last year's Pegasus Stakes.
BidXSell was designed to provide industry participants with a cost-effective way to buy and sell bloodstock, as stated in a press release by Silk Road. The digital auction platform enables sellers to list their bloodstock directly from their farm locations, offering the essential infrastructure needed for sales while eliminating third-party and commission fees.
Through BidXSell, sellers can maintain their own brand identity by conducting sales under their personal name and logo. They retain ownership of their site content and receive links to their sales, which they can use for advertising, social media, and other communications. Sellers can list bloodstock for a flat fee of $500, with no additional commission or RNA fees.
In addition, BidXSell offers a comprehensive “entry to exit” concierge service through its eCONSIGN-IT division. This service includes all the necessary resources to sell a horse, such as veterinary services, media, and money transfer, all for a flat fee that will be announced soon.
The platform also features a private auction option, allowing sellers to offer boutique horses, seasons, and shares to selected buyers. This tool helps owners determine a horse’s real-time market value without incurring fees for repurchasing their own horse.
“This platform was designed to be revolutionary,” said Saeed Almaddah, President and CEO of Silk Road. “In a legacy industry like horse racing, the BidXSell auction platform will be an economic catalyst in the rapidly expanding digital marketplace. It empowers breeders, owners, and consignors to maximise their investments at optimal times, giving them full control, strengthening their industry relationships, and boosting their profits.”
Almaddah added, “This marks a pivotal moment in the industry, with BidXSell poised to become the ‘Shopify’ of horse sales. The platform will also bridge international markets, including the Middle East, Europe, Australia, and the United States. The Middle East, in particular, is a growing market that will benefit greatly from this connectivity and access.”
BidXSell.com is now open for bidder account registration. The eCONSIGN-IT division will host its first sale on August 28, offering Salute the Stars. Bidding will open at 8 a.m. and close on August 30 at 4 p.m.