The Saltwater Cowboys swim the Ponies from Assateague Island to Chincoteague Island. The swim takes place at "slack tide". The time of slack tide varies each year. However, the swim generally takes place some time between 7am and 1pm. The specific time will be announced at the carnival grounds the week of the swim. After the swim, the ponies rest for about 45 minutes. Then the Saltwater Cowboys will “parade” the ponies down Main Street, to the carnival grounds where the auction will be held. The swim and the auctions are always held on the last Wednesday & Thursday of July.