SOURCE: Great American Group

August 14, 2008 11:00 ET

Bay Meadows Race Course Goes on the Auction Block

SAN MATEO, CA--(Marketwire - August 14, 2008) - More than seven decades of horse racing history will be on display at the auction of the assets of Bay Meadows Race Course, California's oldest continuously running race track, starting Saturday, August 23 and running through Monday, August 25.

Among the 2,500 lots that will be up for auction will be racing memorabilia, horse racing-related artwork, track equipment and restaurant and bar equipment, along with the commercial assets of the track.

"This is a time to recognize and honor the long history of horse racing at Bay Meadows," said Mark Weitz of Great American Group, the L.A.-based firm managing the auction. "It is not often that a racing collection of this caliber is offered to the public."

Bay Meadows Race Course opened its doors on November 13, 1934. Among the track innovations unveiled at Bay Meadows were pari-mutuel wagering, the Daily Double, the first all-enclosed starting gate, the 'tote' board and the photo-finish camera.

The famed thoroughbred Seabiscuit ran at Bay Meadows, winning the Bay Meadows Handicap twice, in 1937 and 1938. In 1948, Hall of Fame jockey Bill Shoemaker began his career at Bay Meadows by exercising horses, and winning his first stakes race on the track in 1949.

Auction inspection day will be Friday, August 22, from 9 a.m. until 5 p.m. (PDT). On Saturday, August 23, and Sunday, August 24, the auction will start at 10 a.m. Pacific. Both days will feature all non-commercial assets of the track, including memorabilia and artwork, stadium seating, television and radio studio equipment, stables, track lighting, office furniture and computers. On Monday, August 25 at 10 a.m. (PDT), the auction will feature all commercial assets of the track, including restaurant equipment, maintenance equipment, landscaping and track equipment.

The auction is free and open to the public. A live web cast of the auction also is available with real time bidding at www.greatamerican.com. An auction catalog is available on the website.

About Great American Group

Great American Group is America's leading asset conversion specialist for Fortune 500 and 1000 companies with 32 years of industry expertise in liquidation management, auctions and appraisals. Great American has managed more than 1,500 auctions including high profile properties such as the assets of Chasen's in Los Angeles and La Maisonette in Cincinnati and the Stardust Casino in Las Vegas.

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