Silk Road LLC announced today that its thoroughbred digital auction platform BidXSell.com, is now live online. A dedicated concierge consignment division, eCONSIGN-IT, will host the inaugural thoroughbred auction for BidXSell’s rollout on August 28, 2024 when the stake winning son of CANDY RIDE (ARG), SALUTE THE STARS, will headline the first digital flash sale. BidXSell.com will enable stakeholders in the thoroughbred industry including owners, breeders, consignors, stud farms, and agents to immediately have perhaps the most powerful price setting tool in any industry, the public auction, at their immediate disposal for a fraction of the cost of all other auction-based platforms in the world today. “This platform was created to be revolutionary. In a legacy industry like the horse industry, the BidXSell auction platform will prove to be an economic driver in the new and vastly growing digital marketplace. It will allow breeders, owners, and consignors to capitalize on their investments at the most ideal moments, put full control in their hands, grow their industry relationships, and improve their bottom lines,” said Saeed Almaddah, President and CEO of Silk Road LLC, the creator of the BidXSell technology. “This will be a pivotal moment in the industry and the platform will prove to be the “Shopify” of horse sales. The platform will also connect international markets such as the Middle East, Europe, Australia, and the United States, with the Middle East being a strong burgeoning market that will thrive on this connectivity and access,” he continued. Many top owners, breeders, and consignors have quietly been introduced to BidXSell ahead of its rollout. The reaction has been universally one of excitement and anticipation as they all immediately commented on the powerful versatility the new digital auction tool would bring to their operations and how its capabilities would be immediately seized upon by their CFOs, bloodstock advisors, and marketing agencies. One of the industry’s leading consignors anonymously stated in a recent meeting, “I’ll definitely be using this platform. I love everything I see.” While another with over forty years in the industry said, “I can see that this could be potentially huge!” BidXSell was built with the concept that within the digital marketplace the industry stakeholders are capable of moving their own bloodstock for little cost. The digital auction ring sells bloodstock directly from farm sites, eliminating the need for auction house’s on-site inhouse services. BidXSell’s platform puts the remaining necessary infrastructure directly into the hands of the sellers, eliminating the need for a third party and commission fees. With this philosophy, BidXSell is dedicated to the building out and innovation of more new technology that benefits all areas of the horse industry. Initial innovations offered by the BidXSell platform include the ability for sellers to maintain their brand identity independent of the platform. Each account holder will host sales under their own name with their own logo. Sellers will own the content of their site and be issued links to their published sales for use in advertising, social media and communications. Yet another feature of the BidXSell platform is its one-of-kind and first on the market, private auction feature which allows boutique horses, seasons, shares, etc. to be offered to highly 3 select, personally invited buyers established privately by the seller. The private sale will only be visible to the invited participants and the seller. This feature will be the first and only capability available anywhere in the world and will allow bloodstock otherwise deemed “not on the market” to be offered discreetly and, very importantly, in compliance with industry syndicate agreements. This feature is speculated to be widely utilized by owners of impressive winning racehorses who often field offers for these horses by far too many interested parties to manage. The power of the private auction tool will instantly help an owner know the real market value of their horse. With no penalty to buy a horse back, there would exist no penalty to the buyer for using such a feature in that circumstance. The BidXSell team stated that the reduction in cost of bringing a horse or other bloodstock to the auction market is potentially the greatest market changer. Users establishing a seller account will be able to sell bloodstock for a simple $500 listing fee, with absolutely no commission or RNA fees. BidXSell also offers a full service “entry to exit” concierge plan in its dedicated consignment division called “eCONSIGN – IT. That division will offer all services necessary to sell a horse, including veterinary, media resources, and money transfer, for a flat fee yet to be announced. CEO Saeed Almaddah established that the concierge fee for all horses accepted to that division will prove to be dramatically less than the current five percent industry standard set by both private and digital auction houses. BidXSell.com is currently open to establish bidder accounts. The consignment division eCONSIGN-IT will host its first inaugural sale when it offers SALUTE THE STARS, a stake winning son of CANDY RIDE (ARG) who defeated G1 Stephen Foster winner, KINGSBARNS, 4 in his debut stake win at Monmouth Park. The auction will open for bidding on August 28, 2024 at 8 a.m. and will close August 30, 2024 at 4 p.m. More information about SALUTE THE STARS will be available in the sale catalogue which is scheduled to post on August 21, 2024 at www.bidxsell.com. Future sales will be hosted by industry leading consignors, owners, breeders, stud farms and agents at-will and on-demand. Registered bidders will have access to review all future sales posted on the platform and will be able to establish relationships via permanently approved buyer accounts with each seller as sales are posted. For more information, visit www.bidxsell.com