Virtual Chincoteague Pony Auction details revealed
CHINCOTEAGUE ISLAND, Va. – Organizers have released the final details about this year’s virtual Chincoteague Pony Auction.
The online event will be hosted by longtime auctioneer Tim Jennings and his wife Cathy through their company Sport Horse Auctions. Bidding will open on Thursday, July 23rd and close on July 30th. Officials say the plan is to announce the Buy Back foals on the day the bidding opens.
The auction house is also charging a seven percent buyer’s premium or transaction fee, something officials say is normal in a situation like this. “Tim and Cathy are going through some expenses for advertising and putting this all together so that’s how they are making money. Just like Sotheby’s would. Just like Christie’s would or any other auction house,” says Denise Bowden with the Chincoteague Volunteer Fire Department.
People interested in bidding will have to register and create an account on the auction site SportHorseAuctions.com. Organizers say information about each pony like age, if it’s a buyback and other details will be provided when each one is listed.