On October 28, Keeneland will stage a unique event, the third iteration of the Championship Sale, which takes advantage of timing to bring buyers and sellers an opportunity to buy into the Breeders' Cup experience through a sale of fractional ownerships, horses related to Breeders' Cup entrants, stallion shares, and more. This year, they're throwing a unique item into the mix: the historic and beautiful Castleton, valued at around $57 million. The TDN's Sue Finley sat down with Keeneland's Shannon Arvin and Tony Lacy to discuss the sale. SF: Let's start with the genesis of this sale. Where did the idea come from?SA: About four years ago, we were inspired by the Goffs London Sale before Royal Ascot and Arqana's sale before the Arc. We were trying to brainstorm about the fun, excitement, and magic that happens when you bring people together, honestly. And we wanted to do something that was additive to the markets, to grow the pie and to offer some really unique offerings that you might not see as frequently at a standard sale. I don't think you'll ever see us having 50 entries at this sale. The idea is that it's a big celebration, it's a party, and we're going to sell some really unique items on the night of the party. TL: It's a natural; we're a sales company, we're the host track, and we hold the largest breeding stock sale in the world here a few days after the Breeders' Cup. Internally, we've always tried to look at what we have done historically, at how we need to push the boundaries, and ask, 'what's going to add to the market? What's going to add to the experience?' Because rather than just being transactional, we're looking at more experiential. It's giving people a pathway into potential ownership of a Breeders' Cup participant. Last year, Bentornato was a great example where Michael Iavarone bought a quarter-share for a million dollars and three days later he's picking up a trophy in the Breeders' Cup Sprint.Bentorato winning the Breeders' Cup Sprint at Del Mar | Horsephotos SF: How important is that spectacle to the whole process?SA: The experience is what is the most important. The people want to be part of it. We want them to feel special and we want the opportunity to extend to them that hospitality that we've worked so hard on at Keeneland, making it a fun experience for them. There are a lot of people in our business who have really difficult, challenging jobs outside of this industry. They come to Keeneland to go to the races and to go to the sales as part of a way to enjoy themselves. And we really want to give them an experience they can't get anywhere else. TL: As we built up the team and focused on customer service and that experiential piece, we saw this as a natural progression. I think it adds to the Breeders' Cup week with something new for the participants; there is an additive activity and it's proven to be really successful. I think we all had that attitude of, all right, let's see where this takes us. So, it was a little bit of a leap of faith at the beginning but taking from experiences and other sales around the world that do something similar. SA: And that allowed us to grab the bull by the horns and see where it went and it's going quicker than we expected. We're really excited about this year. SF: Would you ever consider doing a Derby Week Championship Sale?SA: Nothing's out of the question. SF: The first two years were at Del Mar, and now you're bringing it home to Lexington. I'm not going to ask you what's going to be different because obviously it's going to be very different being at Castleton, but what does it mean to you all to have it in Lexington?SA: We're so excited to have it in Lexington. And I think our whole team assumed that when we came back to host the Breeders' Cup here at Keeneland, that we would also host the Championship Sale here at Keeneland. But as this opportunity presented itself to actually sell Castleton at the end of the night, we were really excited by the prospect after talking with Shane Ryan, because Castleton is one of the most iconic, beautiful farms I've ever set foot on. It's immaculately maintained. The landscaping is incredible. And we got more and more excited about opening it up to share that with more people, and Shane did as well. TL: It is an incredible farm, but the historical piece of that and how it's been iconic, not just in Thoroughbred racing, but actually in Standardbreds and Saddlebreds is important, too. It's transcended these different disciplines seamlessly. John Breckenridge didn't set up a farm there to breed Thoroughbreds out of circumstance. They knew that was some of the best land in the world to raise a horse and it continues to be so. That belt of land in that area is the highest level of horse land in the world. SF: How did the opportunity come about? What was the story behind that?SA: We'd been talking to Shane (Ryan) about unique opportunities and history. It arose as a potential and we really were honored, first of all, that Shane would want us to be involved in the sale. Secondly, it's really exciting to be partnering with Bluegrass Sotheby's International Realty. Sotheby's sells real estate all over the world at the highest level. And being able to combine both of our brands, both of our resources, both of our networks, marketing possibilities and the contacts that we get to associate with as a result of this listing is fabulous. TL: It has proven to be a very natural partnership. The teams work extremely well together. We stand for the highest of principles when it comes to auctioneering and the offering of high-end lots, whether that be equine or property or whatever. It has been a really exciting venture for all of us.Keeneland photoSF: It's such a unique listing, and there is a reserve set on it. How exactly will it work on the night of the auction?SA: It will be the last lot to be offered and Ryan Mahan will conduct the auction. Everything up until that point, Sotheby's and Ken Donworth take care of. They are fielding all of the inquiries about the land, and they're showing the land. As you know, when you enter a real estate transaction, especially one of that size, there's a lot of due diligence that goes into the process before that sale actually happens. So I would not anticipate that the buyer of this farm will be raising their hand and showing interest for the first time on the night of the sale, but we do plan to auction it on the night of the sale and anticipate there will be a couple of interested parties at least there raising their hand. SF: What have you learned from your past two years in doing this sale?TL: I think it shows you what's possible once you push the boundaries from the norm. It takes a very skilled group of individuals to come together to be able to pull it off. From my perspective, we need to be seen to be more national if not international in the way we approach our business. Allowing us to be able to lift up what we do on a day-to-day basis here during a brick-and-mortar auction in the sales pavilion, to be able to do it on the Wednesday night before the Breeders' Cup, just before we start setting up, to bring the skill set and the technology and everything with us and being able to pull off probably one of the more exclusive events around the Breeders' Cup itself, I think is a testament to what is possible from this team. SA: It has been fascinating to see which lots have been the most successful. Two years ago, we sold Pandora's Gift for $850,000. It was really fun to bring the international runner in and we will continue to look for more opportunities to do that. And having the stallion shares be offered, that's been really unique. The timing is different than it often is for that kind of offering, but it's been really popular and well received.TL: Selling the fractional interest in Flightline before the November sale in 2022, was something that was extraordinary. SA: And enter Travis Boersma. TL: It brought a new player to the table who wanted that experience. That example was something that fueled the creative juices, not only with us, but also Shane. That combined imagination led to this. And that's just one of the iterations I think might be possible as we go forward. SF: It's too early to ask specifically what you're targeting for this year, but in general, what are you looking for?SA: The most interesting ones to us are the ones that have Breeders' Cup connections where a lot can change with respect to their value in the four days after they're sold. And then also relations of those as well. We're just looking for something that might not otherwise be brought to the market at this time of year in particular. TL: For a lot of people who spend a lot of money on horses, experiences like the Breeders' Cup are the events they want to be a part of. You could be fortunate or unfortunate enough not to have a horse running in one of the races. So having a pathway to where you're allowing somebody to invest in a participant opens up a whole new partnership potentially between a current owner of a horse and the bidder. I think it not only it connects new people together, but also gives people the opportunity to be able to experience the Breeders' Cup itself. Because last year, we had Ted and Mary Nixon from Storyteller Racing, they bought a quarter of Mullikan and invested in the race participation and his future as a stallion. It allowed the new the partners to be able to dabble into the breeding side of things as well. SF: In this sale, it's all kind of last minute because you don't know who's going to run in the Breeders' Cup or you don't know what stallion season is going to be really hot. How much stress does that add to the process? It all comes together in the last couple of weeks.TL: It's going to come together in the end. And I talked to some of the people that are involved with other international sales that are similar, and to my surprise, actually they're like, `We didn't have any entries until two weeks before the sale.' SA: We always know it will come together, but you're right, it's not something that you can plan months out.TL: Again, you go back to the experiential and if we don't have the experience, a fun experience, it's only transactional. It's writing checks. That's not fun for anybody. We have to make sure that we understand what people want out of life. And I think as we've seen after COVID, more people are wanting that collective experience with their friends and family, and to do things that probably were not doing before. It might have previously been aspirational, a bucket list thing, but now they're getting on with it. SA: I think every industry is seeing that. That experiential piece has become so critically important and the way people want to spend their money. We saw Russell Wilson and Ciara win the maiden at Saratoga on Saturday with his family and that was amazing. He and his wife and kids, and they had just the most magical day. You can't pay for that. It's that magical. It's priceless. We want to provide those opportunities and experiences. TL: We've all felt the highs, but sometimes we've got to give people a taste of it before they understand what it's about. It's not just a sport, it's a social activity and it's a way to connect people of common interests. And sometimes, it brings families together. It's a way of celebrating something together. That's why partnerships and syndicates are so successful, because you find new friends; you get to enjoy an activity with common-minded people. SF: You have mentioned some of the biggest successes, but what others have there been? SA: John Sikura was able to buy a 20 percent interest in Thorpedo Anna for a million dollars.Breeders' Cup winner Thorpedo Anna | Benoit TL: A share in Cogburn brought $475,000 and brought Connie and Richard Snyder and their partners into a young stallion that they were very enthusiastic about. Larry Sarf bought into Pandora's Gift. It was great for the sellers because that was probably more than they could have expected and it allowed Mr. Sarf to be able to invest. He's had a lot of fun with her since. Gold Phoenix is a great one because for $125,000, Mark Martinez was able to buy in and he's been along a fun ride here the last couple of years. And again, it allowed Mark to become involved with Little Red Feather and you see his name popping up a little more often now. It's not just additive for us, but I think it's additive for the buyers and the sellers. SF: Is there anything I haven't asked you that you'd like to say?SA: I can't emphasize enough how excited we are to be a part of offering Castleton for sale. It's such an iconic, beautiful farm. For as long as it has been in existence, the Ryans are only the sixth owners. I know in talking to Shane how important the stewardship of that land is, how connected he is to it. And I know he's really hopeful of finding that next steward who will see over the next phase of that important land, that beautiful farmland in Lexington, Kentucky. TL: I think it's important to recognize his father, because when Tony Ryan bought Castleton, it needed renovation. It needed some love, somebody to be able to bring it to the next level and give it a new character, a new life and new passion. Shane is based in Europe and he doesn't get here as often as he probably would like, and his family are not as engaged with the sport as he is or his father was. I think you have to give a lot of credit to Tony Ryan for investing in so much into bringing the farm to the current glory but also respecting the past and allowing it to shine as it was back through the generations.The post TDN Q and A: the Championship Sale, ‘Additive for Buyers and Sellers’ appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.