(Edited press release)
Kendall-Jackson Winery announced July 2 a five-month-long charity auction that will take place on its web site (http://www.kj.com) and will feature items, donated by winery owner and co-founder Jess Jackson, that are related to Rachel Alexandra’s racing season. A new item and new auction will be introduced every month through November.
According to the announcement, each successive month’s item will be more valuable, culminating in a "Super Lot" in November. All of the proceeds from the auction will benefit the V Foundation for Cancer Research.
Bidders can now go to www.kj.com where they can place their bids on the first auction Item, which is the halter worn by Rachel Alexandra during workouts prior to her BlackBerry Preakness Stakes (gr. I) victory.
Each month a new item of sports collectible memorabilia from Rachel Alexandra’s historic campaign-in-progress will be introduced on this auction page. Each item, of progressively escalating value, will have a “blind reserve” bid amount-that amount is guaranteed by Jess Jackson and Barbara Banke to be the least amount donated to the charity-even if bidding is below that amount and the item is not sold. All funds raised will go to the V Foundation.
The final, Grand Item will be auctioned in November. The cumulative total of all auction proceeds will be presented to the V Foundation after Rachel Alexandra’s last race of the season, or no later than Nov. 30, 2009.
As bids are taken and recorded, a real-time moving graph will illustrate where the price stands at any given moment. In addition, a cumulative running total of money raised to date will be featured on the Kendall-Jackson web site home page.
Every month, the winning bidders will posted and announced to the press (unless they decline being identified). Though 100% of each auction purchase will go the V Foundation for Cancer Research, a nonprofit organized under Section 501(c)(3) of the Internal Revenue Code, purchases of auction items are not tax-deductible.
“This is a rare opportunity for us to use the notoriety of this amazing athlete, her appeal to both men and women, to raise money to fight a disease that steals from us all,” said Jackson.
Rachel Alexandra, purchased by Jackson's Stonestreet Stables and Harold McCormick 10 days before the Preakness Stakes, previously won the Kentucky Oaks (gr. I) while trained by Hal Wiggins. Subsequent to the Preakness, she won the Mother Goose (gr. I) in track record time.
The V Foundation for Cancer Research was founded by ESPN and Jim Valvano in 1993. Since that time V Foundation has raised more than $80 million and has awarded cancer research grants in 38 states and the District of Columbia. Researchers have developed their laboratories and taken their science from the labs to the clinics with the help of funds raised by The V Foundation.
