What it's like going to the world's biggest horse sale: Photos - Business Insider

The massive parking lot was already filling up with cars, many of them luxury vehicles like Range Rovers and Mercedes.Keeneland doesn't keep track of exactly how many people attend the September sale, but Amy Owens, a communications associate at Keeneland, told me that "thousands of people" are involved in the sale.

All the menus at Keeneland's various hospitality facilities are created by their executive chef, Marc Therrien. It's all to try and determine how the yearling might perform as a racehorse, and how likely it is to sustain any injuries — because a horse that isn't well-balanced is Christa Marrillia, Keeneland's chief marketing officer, compared the sale to the NBA draft because it's "all based on potential."

Then, when the horse is up next, it's brought into the sales pavilion's indoor holding area, where it's walked around in circles until it's led on stage to be bid on.Onlookers gathered in this area, watching the horses coming in right before they were auctioned off — sometimes for millions of dollars.Katie Warren/Business Insider

sells proven race horses, breeding stallions, and broodmares, at the September sale, "you're selling the possibility," Marrillia told me at breakfast. "You're selling the future... The dream of winning the Derby." The seats in the sales arena are reserved for prospective buyers, but behind a glass wall encircling the back of the arena, many observers sat on benches and watched the sale from a distance.While the atmosphere during the auction was relatively subdued most of the time, the energy changed noticeably when bids for a horse surpassed $1 million.

Once the bidding has been closed, each horse is brought back to its temporary stall at Keeneland's barn area, where it must be picked up within 24 hours.Keeneland encourages buyers to pick up their horses as quickly as possible to make room for the next round of yearlings to be brought in.

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