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According to the Harness Racing Hall of Fame website, "While Thoroughbred racing has long been known as the sport of kings, the dependable, athletic Standardbred brought racing to the common man, first between neighbors on community roads, and later at state of-the-art racetracks. Standardbred racing has long been known as the sport of the people, and both the sport and the breed are as much a part of our American landscape as cowboys and apple pie."
During the late 19th Century there were many different Auctioneers and Auction firms that specialized in the Auction sale of "Trotting Stock." Auctions took place on farms, fair grounds, racetracks and major arenas such as Madison Square Garden in New York City. Most major Auctions consisted of consignment sales in major cities across America. Many of these Auctions were well planned annual events similar to the classic car auctions of today or contemporary major multi-parcel real estate "Ballroom Auctions." Other Auctions were one-owner, on-site annual events. Estate Auctions were conducted as a complete liquidation on-site, or removed to a more suitable location for the event. Lastly, there was the occasional forced Auction sale, or "complete dispersal" of the livestock, equipment, supplies and real estate brought on by insolvency or partnership dissolution.
Regardless of the circumstances, the Auction Method proved to be the fastest, fairest and most efficient means to get the highest possible fair market value for the trotting stock.
Fortunately, most Auctioneers and Auction firms pre-cataloged the Auctions. These catalogs provided a wealth of information pertaining to the horses, the terms of sale, and other details such as time and place of the auction and area lodging. Most of the catalogs had an index with a listing of all the horses in the Auction. Many catalogs had illustrated ads in the back as well as illustrations of a few of the prime horses offered. Today, these catalogs give witness to how the Auctions were conducted. Most of these Auctions were "Absolute" meaning that the trotting stock sold to the highest bidder regardless of price. There was no by-bidding in the absolute Auctions.
The "Parkville Trotting Stock, the property of Mr. John H. Shults of Parksville, Long Island, NY to be sold rain or sine on Tuesday & Wednesday, October 29 & 30. 1895, Commencing each day at 10:30 o'clock A.M. at Parksville Farm situated on Brooklyn Boulevard midway between Brooklyn and Coney Island" was conducted by the New York City Auction firm of Peter C. Kellogg & Co. Kellogg & Co. billed themselves as "Auctioneers and Commission Agents in Improved Live Stock." The announcement on the inside front cover in part states, "In offering 100 head of trotting stock in this Catalogue, the owner has tried to make the assortment such, that admirers of nearly every prominent trotting strain of blood would be able to secure an excellent representative of the strain by one or more of the very best sires in the strain."
The Terms & Conditions of Sale for this Auction are very similar to those found in other catalogs of the same period from various Auction firms offering "trotting stock." One standard term was, "Twenty-five percent to be paid in cash immediately after the animal is sold, or the sale may be declared void, at the option of the seller. The balance of the purchase money to be paid in cash on the day of sale, and before the animal is delivered; and if the balance is not paid, or satisfaction secured, within said time, the twenty-five percent, will be forfeited, as an agreed liquidation of damages, and the sale void."
The terms state that all animals are sold as, is and with all faults and defects unless a warranty is expressly made from the "station stand" by the Auctioneer. Nothing is warranted except right and title to the property. Further, if a warranty was given, it had to be tested by 12 o'clock noon on the day following the auction and prior to being delivered to the buyer. The Auctioneer also reserved the right to appoint a person to determine if the warranty was met or not. The decision of this person was final and binding on both parties, and "no action at law shall rest against us from either party in consequence of such decision." (Wow, I wonder how that would work today?) Some other neat terms include, "No charges for keeping will be made on animals removed on the day sold. Thereafter a charge for each animal will be made of $1 per day. At this Auction they allowed absentee bids. "Bidders at a distance, who write or telegraph us instructions to buy for their account, must have the full amount of purchase money and contingent expenses in our hands by day of sale, in order that the transactions may be promptly closed and the animals shipped."
The descriptions in the catalog are very detailed including lot number, name of horse, blood lines, age, speed times, formal and informal" statements. Note that the terms state that "informal statements" are the opinion of the seller and are not warranted."
One hundred and six horses were sold in this two day Auction ranging in price from $50 for lot 17 "Agate" to $1,000 for lot 1 "Addie De."
A catalog dated 1896 offering 300 "Trotting-Bred Stock" horses from the famous "South Elkhorn Farm near Midway, Kentucky was published by Auctioneer William B. Fasig & Co. to settle an estate also comprising "2,100 acres of Blue Grass Land." (Note - Auctioneer William Fasig later partnered with Edward A. Tipton in 1898 to become "Fasig - Tipton" that remains in business to this day in Lexington, KY.) This Auction was strategically set for the week preceding the Lexington Trotting Meeting. The Auction was to take place over 5 days with "A Kentucky Barbecue Each Day." The back cover says it best, "This Absolute Dispersal outranks any Sale Event of Trotting Stock Ever Held in the History of the World. This sale will afford many opportunities for the foundation of a fortune." Further, "It was the one great horse, 'Onward,' that made Col. Pepper wealthy and celebrated; and beyond doubt, there are other animals in this dispersal that will do the same to their purchasers. Now is the time to buy!"
The increments for the Auction are listed with the terms of the Auction, "On sums less than $200, advance bids of $5.00 will be accepted, but above that amount only bids of $10.00 and over will be recognized.
After a long list of terms and conditions that naturally favor the Auctioneer and Seller there is a final note. I will end by sharing this note that I found humorous.
"Purchasers are urgently requested, IN THEIR OWN PROTECTION, to comply strictly with the foregoing, but should they fail to take advantage of the conditions adopted for their protection, they waive all recourse thereafter."
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