Like midnight store keeping quiet, providing a pre-purchase event (7,5)

I believe the answer is:

selling plate

'a pre-purchase event' is the definition.
(horse race where winner is auctioned)

'like midnight store keeping quiet' is the wordplay.
'like midnight store' becomes 'selling late'.
'keeping' indicates putting letters inside.
'quiet' becomes 'p' (music symbol for 'piano', ie soft or quiet).
'sellinglate' placed around 'p' is 'SELLING PLATE'.

'providing' is the link.

(Another definition for selling plate that I've seen is " Race".)

I've seen this clue in The Times.

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