Thousands watch famous Chincoteague swim

Ponies penned before auction.

Around 150 ponies from Assateague Island made the famous annual swim to Chincoteague Island yesterday for the annual auction of livestock.

Funds raised from the auction benefit the Chincoteague Volunteer Fire Company.

The 85th swim across the 180-metre channel is always timed to coincide with when the tide is slack.

Many onlookers travel long distances to watch the swim, made famous by Marguerite Henry's 1947 children's novel, "Misty of Chincoteague". It was made into a movie 13 years later.

The horses were kept overnight for the auction, with stock that did not sell being returned to the island.

Unofficial figures indicated 59 young stock were sold for an average cost of $US1309 each, delivering $US77,225 to the brigade.

The figure is down on the $US93,900 raised last year, when 67 horses were sold.

In 2007, 73 ponies sold at an average of $US2442.47, which was a record average for the event. The high bid of $US17,500 was also a record, as was the total amount raised: $US178,300.

The 2006 event saw 78 ponies sold, raising $US167,750.

Money raised in the auction is used to cover the cost of new firefighting equipment. The brigade, which looks after the island herd, also uses the proceeds in the care of the horses.

The horses are said to be descendants of those from a Spanish galleon that ran aground off Assateague Island in the 17th century. It is also possible they were originally owned by earlier settlers, who had them graze the island.