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Keeneland reduces rates for unsold horses

AMERICAN consignors have given a warm reception to Keeneland's decision to reduce its sales commission on horses that fail to meet their reserves to 2.5 per cent.

Keeneland president and CEO Nick Nicholson said: "We feel it is important that there be no exclusivity; these are across-the board reductions.

"Horsemen at all levels of the market are feeling the pain, and should share in the benefits. Keeneland is also being impacted as the reduction will have repurcussions for our operations as well."

The new rate will be in effect at this year's September yearling sales, the November breeding stock sales, and next year's January horses of all ages sale. Commission for horses sold will remain unchanged at 4.5 per cent.

Duncan Taylor, president of Taylor Made Sale Agency, said in a press release: "This is a great thing for our industry. I applaud Keeneland for listening to horse owners and showing leadership in this difficult economic period."

Eaton Sales partner Reiley McDonald echoed those sentiments. "I think this is a large gesture by Keeneland to help their client base through a very difficult time," he said. "This will make a big difference for all of us who sell, particularly in this economic climate."






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