Six sets of eye-catching racing colours will be sold through an online auction, the British Horseracing Authority has announced.

The designs will each have a reserve price of £5,000, with the auction opening on September 12 and closing at 8pm on September 23 with five per cent of all proceeds split between Racing Welfare and Retraining of Racehorses, the official charities of the BHA.

Three set of colours feature horseshoe, anchor and rainbow designs respectively, while the other three are vibrant sets of silks in multi-coloured spots, flames and four bright shades of red.

Richard Wayman, chief operating officer of the BHA, said: “We hope that the opportunity to own exciting and unique designs will be a tempting proposition for an owner to ensure their runners really stand out.

“Racing colours identify you as an owner and some iconic silks have become synonymous with great horses and owners over the years.

“The six sets we are putting up for auction on Monday certainly represent something different and could provide someone with the opportunity to have their name and runners associated with a striking and distinct set of silks.”

6 Sets of never before seen racing colours have been released for the #BHAColoursAuction https://t.co/UZL69NZNnh pic.twitter.com/rwugMp3xE3

— BHA Press Office (@BHAPressOffice) September 7, 2016

The auction has been devised and introduced as a result of the Racing industry’s Strategy for Growth, with one of the key aims being to grow racehorse ownership by improving the retention of existing owners and introducing more new owners to the sport.

Racing colours in Britain are currently restricted to 18 shades and a few select patterns, but greater flexibility in designing racing colours is viewed as something that may be welcomed by owners, both current and future, as well as generating increased interest in the sport.

Charlie Liverton, chief executive of the Racehorse Owners Association, added: “The ROA is delighted to see owner-centric initiatives taking place to further enhance their enjoyment of the ownership journey.

“Liberalising and personalising colours is one such initiative taking place, and we look forward to seeing how owners respond to the colours offered in this auction.”