Cover image courtesy of Inglis
In an evolving digital marketplace, sales companies are continually refining how they meet demand, and Inglis has moved to introduce a new concept aimed at a niche but significant sector - the high end private sale, with the launch of the ‘Inglis Bull Ring’.
The 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.
Deals such as stallion transactions are typically negotiated privately, with terms rarely disclosed. The ‘Bull Ring’ aims to replicate that environment while leveraging Inglis’ auction environment, allowing owners to complete a sale without a public price being revealed.
A private sale, reworked for the digital market
When outlining the concept, Inglis Digital Business Manager Nick Melmeth explained the thinking behind the initiative.
“In real simple terms, I suppose I could probably sum it up in one line. 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,” Melmeth said.
“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.” - Nick Melmeth
“It enables sellers to have the benefits of an auction process to get the best possible price.”
He added that the format had been carefully developed with the sensitivities of the market in mind.
“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.
Nick Melmeth | Image courtesy of Inglis
“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.”
Although bidding remains anonymous until the final outcome, participation is required to stay engaged in the process.
“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.”
A name to match the concept
The name itself is a nod to the type of horse the platform is designed to showcase. With the more private nature of the platform designed to suit this particular market.
“To have that name, it was just about tying it into that type of stock. Stallion prospects are the obvious ones when you're talking about a discreet, high value, sensitive type of stock. They're the first ones that jump to mind, aren't they and they are bulls so it worked out well,’’ Melmeth said.
Reserve Bank - A fitting first entrant
Fittingly, the inaugural entrant is a horse with genuine stallion credentials in Reserve Bank (Capitalist), a high-class performer trained by Mick Price and Michael Kent Jr.
Undefeated as a 2-year-old, Reserve Bank announced himself with a dominant five and a half length debut victory, recording the fastest last 400-metre and 200-metre sectionals of the day, before backing it up with a nearly three length win during the spring of his 3-year-old season.
At just his third start, he was narrowly beaten by a nose in the G2 Danehill Stakes, before returning in the autumn to string together victories in the Listed Redelva Stakes and G2 Tobin Bronze Stakes, culminating in his career-defining success in the G1 The Goodwood.
Reserve Bank | Image courtesy of Racing Photos
That Goodwood triumph saw him defeat 12 individual stakes winners, including G1 winners Giga Kick (Scissor Kick), Climbing Star (Zoustar) and Charm Stone (I Am Invincible), along with the likes of Generosity (Divine Prophet), Stretan Angel (Harry Angel {Ire}) and Ameena (Tassort), becoming the only 3-year-old colt to win the race in the past two decades.
On pedigree, Reserve Bank brings together some of the most influential bloodlines in the Australian stud book. His sire Written Tycoon was Champion Sire in 2020/21 and has produced 18 Group 1 winners and 82 stakes winners, while his broodmare sire Fastnet Rock has sired 44 Group 1 winners and 200 stakes winners.
Co-trainer Michael Kent Jr believes the colt has all the attributes required to succeed at stud.
“He made a big impression early doors, winning his first two starts by big margins before being beaten a nostril in the stallion-making Danehill stakes at Group 2 level,’’ Kent Jr said.
“He made a big impression early doors, winning his first two starts by big margins before being beaten a nostril in the stallion-making Danehill stakes at Group 2 level.’’ - Michael Kent Jr
“He really came into his own as a 3-year-old sprinter winning three on end in the autumn; the Listed Redelva, the G2 Tobin Bronze by a widening margin and then won a very strong edition of the G1 Goodwood, coming from last to win by one and a half lengths.
“He was set to jump as third favourite in the G1 Galaxy before having a barrier incident and had to be scratched.
Michael Kent Jr | Image courtesy of Racing Photos
“We then set him for the Queensland Winter Carnival this year where he got a very heavy track first up and then drew extremely wide in the Doomben 10,000 and had to go back to last which also didn’t suit him.’’
Reserve Bank will be the first horse offered through the Inglis Bull Ring, marking the official launch of the platform.
Bidding is scheduled to open at 9am on Wednesday, June 17, with the auction set to conclude the following afternoon.
