If At First You Don't Succeed...

... buy, buy again!  Or, that's what Keeneland is hoping you'll do, at least.  The Thoroughbred sales company has opened up RNAs from its premier yearling sale to an electronic re-bid program.

Keeneland asks would-be buyers to take a second look at first-class horses. The program allows consignors whose colt or filly didn't sell in the ring to offer it to a much larger audience online. And it's convenient for buyers, because the sales service is tied to the hip's catalog page, and Keeneland resources (including the repository) are still available for the re-offered yearlings.

Full information on the Kee-Bid program is on the Keeneland site (see it here: Kee-Bid).

Who benefits from the program?  Well... theoretically, everyone.  Bidders have a second chance on horses they missed in the ring -- and they benefit from sellers' post-sale realization that they set their reserves too high!  Keeneland boosts its sale figures (marketing), keeps more of its clients happy (customer service), and pulls in a few more commissions (the bottom line).  And of course sellers get a second chance to cash out on a yearling that otherwise would require a substantial investment to bring along to a 2-year-olds in training sale.

My only question is Kee-Bid?  Really?  Say it fast and it sounds too much like "keep it," which is exactly what the sellers don't want to do!  But kudos to Keeneland for reinstating the re-bid option. (It's been done before with mixed results, but now that the majority of the Thoroughbred industry is online, it has a real chance at success.)