Suit Alleges Standardbred Auctioneer Failed to Notice $45K Reserve, Then Reopened Bidding after Hammer Fell at $15K

[Wandering Eyes]

A lawsuit filed in a Kentucky court Wednesday over a disputed Standardbred auction figures to be closely watched by the Thoroughbred industry because of allegations that a Lexington Selected Yearling Sales Company (LSYS) auctioneer belatedly realized he had dropped the hammer on a $15,000 sale without respecting a $45,000 reserve price that should have been in effect.

According to the civil complaint initiated by the New Jersey-based Val D'Or Farms, which thought it had rightfully purchased the filly, named Philly's Sting, for $15,000 via proxy bid, the auctioneer purportedly tried to cover his alleged mistake by reopening the bidding on the premise that there had actually been a tie bid.

The auctioneer then commenced to get the price up to just under the reserve, declaring the yearling sold to a different buyer.

“Upon information and belief, there was no other tie bidder, just an illusory bid in an effort to protect the reserve,” stated the lawsuit filed Dec. 10 in Fayette Circuit Court.

The lawsuit included a link to a video of the Oct. 1, 2025, auction of Hip 572. It shows Philly's Sting in the sales ring for 90 seconds before her bidding stalls at $15,000.

After the auctioneer hammers the podium and declares, “All done! In the back, $15,000!” Philly's Sting is led out of the ring.

While the next sales prospect, Hip 573, is being shown and announced, the auctioneer appears to be examining paperwork in front of him.

After 15 seconds, he then says, “Hold on a sec. Say what? You thought you were in back there? No. Nope. You weren't. I'm sorry.”

Speaking over an unidentified raised voice protesting from the bidding gallery, the auctioneer then says, “All right, we have to open it back up between those bidders.”

Over the next 20 seconds, the bidding on Philly's Sting escalated to $27,000.

At that point, seemingly in an effort to clarify which yearling was actually being auctioned–the one who had already been led out of the ring or the one being shown in it–the auctioneer says, “This is 572! Just hold this [other] horse over to the side, keep him still.”

As the bidding crested $35,000 and one unseen participant appeared to be vacillating, the auctioneer says, “I'll give you all the time you need. That was my mistake.”

Another minute later, the hammer fell for good on Philly's Sting at $44,000.

According to the lawsuit, “neither the Auctioneer, nor LSYS, nor anyone acting on their behalf or control, including spotters, observed, received, and acknowledged a tie bid during and/or prior to the fall of the Hammer, [and] the Auctioneer had no right to and improperly, negligently, intentionally, and/or recklessly reopen the bidding on Philly's Sting.”

The allegations in the Dec. 10 lawsuit represent only one side of this story. TDN learned of the filing of the lawsuit after 6 p.m. Eastern time on Wednesday, and could not reach anyone at the Kentucky offices of LSYS at that hour.

The breeder of Philly's Sting (Hot Lead Stables) and the consignor (Cameo Hills Farm) are also listed as defendants.

All of those defendants will have their chance to answer the complaint or to try and dismiss it in subsequent court filings.

The lawsuit seeks a judgment against each defendant mandating the acceptance of the $15,000 payment and the delivery of Philly's Sting to the plaintiff.

Drew Mollica is one of the attorneys on the legal team for Val D'Or, whose principal, Martin Granoff, co-bred and co-owned the pacer Perfect Sting (the undefeated Dan Patch Award winner at two and Breeders Crown champion at both two and three), who is the sire of Philly's Sting.

“Marty Granoff is one of the most prominent, respected owners in the business,” Mollica said. “And he really feels violated, he really does.

“The rules are explicit. Once the hammer drops, you own the horse,” Mollica continued. “They missed the reserve. Owning horses is hard enough. Buying horses at auction is hard enough. You shouldn't have to fight the auction company, too.

“[Granoff] campaigned the sire. He's an experienced buyer. He knows the rules. It's unequivocal in Mr. Granoff's mind, and he wants this settled not only for him, but for everybody who buys horses at auction,” Mollica said.

The post Suit Alleges Standardbred Auctioneer Failed to Notice $45K Reserve, Then Reopened Bidding after Hammer Fell at $15K appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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