Osarus' Viaud Explains Europe's First Online-Only Sale

Osarus managing director Emmanuel Viaud said he is undaunted as the French sales company prepares to venture into unknown territory by holding Europe's first major online-only auction this month.

Osarus recently announced the decision to hold its breeze-up sale, originally scheduled to be held in the picturesque coastal town of La Teste-de-Buch in southwest France in early April, in a digital format at a much later date due to COVID-19 lockdown restrictions.

It is not the first fixture to be forced online by the coronavirus crisis; that dubious honor fell to the prestigious Inglis Easter Yearling Sale, which held up remarkably well despite no horses or buyers being on-site in Sydney. It featured seven horses sold for AU$1 million or more and an average price of AU$318,040 that was only marginally down on last year.

Australia has a more ingrained culture of purchasing Thoroughbreds online, though, and agents and trainers regularly inspect stock on farms before sales—meaning many buyers were already familiar with the lots on offer.

There is more ambiguity about the viability of online sales in Europe and North America, but with a full exit from lockdown looking a distant prospect, the bloodstock industry might be forced to embrace them.

Consequently, the Osarus Breeze-Up Sale, confirmed to take place May 27, will be regarded as a canary in the coal mine for digital auctions in Europe.

Viaud stresses the company, founded in 2008 and majority-owned by Tattersalls since 2014, is doing all it can to make sure the format has life in it.

"I would say I'm excited about the sale rather than nervous," he said. "We're working hard to ensure that the concept works as well as possible. If everything is prepared correctly, the outcome should be OK. We're in no doubt that we'll be under close scrutiny on May 27, being the first European company to sell 2-year-olds exclusively online."

Viaud reported feedback for the online sale has been largely positive, with most acknowledging its need in unprecedented times.

"Our clients are satisfied that the months of work they put into preparing their horses for the sale have not been wasted," he said. "This new concept is an excellent alternative that is enabling us to go ahead with the event, which would otherwise have been canceled. Many of them were also happy to have an extra few weeks to prepare the horses, which counts for a lot with 2-year-olds.

"At the moment, we haven't had many withdrawals because of the sale being held exclusively online. Agents and trainers are calling us for details on how the sale will function. The interest is there."

Viaud also has news on how exactly the sale—which features a catalog of 80 lots, only 11 of whom had been pulled out up to Sunday—will take place.

"All prospective purchasers will have to register and have credit approval pre-authorized at least three days before the sale," he explained. "They need to send an email to compta@osarus.com to receive the documents to complete. Once approved, they will receive a password, which will allow them to access the live online auction and to place bids on May 27.

"There is also the possibility to bid by telephone. To do so, they will be asked to complete another document, and a member of the Osarus staff will call them when the lot is being sold. There will be French, English, and German speakers. I will be present on the rostrum to sell each lot, and the sale will be broadcast by France Sire."

As for how buyers can inspect lots, he added: "Breezes will be filmed within the next 10 days. They will be available on the Osarus website approximately 10 days before the sale, along with photographs, details, and veterinary files. Prospective purchasers will be able to visit the 2-year olds, by appointment, at the consignors' stables.

"On the day of the sale, all horses will be in their respective consignors' stables. Purchasers will be required to organize for any lots purchased to be collected from there within 24 hours of the sale, unless otherwise arranged between the purchaser and the vendor."

Viaud is keeping his feet on the ground with his expectations of the pioneering sale.

"We've been working with the same consignors over the past few years, and there is a certain confidence between purchasers and vendors which should help with the online concept," he said. "It's difficult to predict results. Obviously, we aren't expecting trade to be as strong this year, but we are getting plenty of calls from owners, trainers, and agents who are showing interest, which is a positive sign.

"Racing is set to restart in France on May 11, and potential purchasers, at least within France, will be able to get around easier to view the horses after that date."

Asked what he would say to attract buyers to the sale, he replied: "Watching the 2-year-old races is something that everyone always looks forward to at this time of the year, and most of those cataloged will be ready to make their debut imminently with the extra time they have had in preparation. The consignors have done a great job.

"The sale, which hasn't been in existence for many years, has unearthed good performers such as Qatar Oaks (G3) winner and Shadwell Prix de Pomone (G2) runner-up Mango Tango, grade 1 winner Capivari, and 13-time winner Crepusculdedieux, who has earned more than €414,000."

All eyes will be on the Osarus Breeze-Up Sale. It is of utmost importance when other companies' revised plans for their own postponed 2-year-old auctions, all set to be live events with horses and participants present, depend on lockdown measures being sufficiently relaxed and racing to have returned—neither of which come with a cast-iron guarantee.