The Chincoteague ponies from Assateague Island on the day of the foal auction. Every July, during Pony Penning, most of the feral horse herd on the Virginia side of Assateague Island are rounded up and herded across the channel to Chincoteague Island. On Wednesday you can watch the swim across the channel, and then on Thursday most of the young foals are auctioned off. This is both for population control and to benefit the Chincoteague Volunteer Fire Department, which owns and cares for the ponies.
Jeff and I visited the auction this year. The most expensive foals are always the buybacks, which are chosen to remain on the island and replenish the herd. The money from these goes to charity. This year's top price was $12,000.