Magic Millions: Before You Buy Watch This
If you are thinking of buying a horse at the Magic Million sales then you are already on the right track. The sale brings together some of the finest horses in Australia and the world. The Video above is an excellent must watch video for anyone about to attend a sale. The video is old, about 30 years old, but it features people like Bob Baffert and Tom Van Meter, individuals who talk about their process of buying horses, both gentlemen have gone on to become legends in the world of horse racing, their model works and is worth your attention.
Some of the video is US-Centric, America races in only 1 direction and predominantly on dirt so some of the concepts are different for Australian racing but still viable if you are looking to race in other parts of Asia.
Remember, apart from the confirmation of a horse it’s personality is also a major factor. Even after you have done all of that you still only have one piece of a puzzle, Horse Racing is not just about the horse, the horse is a part of team that includes you the owner, the trainer and all the people that will deal with the horse on a regular basis, choose your team well!!
If you want to talk to an expert I recommend one of 3 trainers, why these 3? There are a number of criteria to look for when choosing a trainer (part of the team) the important ones to me are, cost-effective, quality of care, ease to deal with, honesty and ability.
Australian horse sales offer pedigrees/bloodlines of International quality, including the most prominent bloodlines from USA, England, Ireland, Japan and France.
Australian horse Sales offer the best dollar values as compared to buying in US Dollars or Pounds Sterling.
Australian horses have outstanding success records in all export markets including Singapore, Malaysia, Hong Kong, and New Zealand. For example, Hong Kong Australian horses lead all other imports on a percentage of winners basis.
Australian bloodstock is well regarded throughout the world, with total exports increasing by almost 100% since 1997, with the number of imports decreasing, indicating the popular demand for Australian thoroughbreds worldwide.
Prizemoney in Australia is a key indicator of the economic health of the industry. In the past six years prizemoney has risen by over 50%, indicating a strong and growing industry.
Australia is one of the leading nations in distributing prizemoney amongst owners, with the third highest total prizemoney in the world, totalling $308 million at an average of $14,535 per race.
There are several ways to enjoy ownership of a horse.
Sole owner: All the glory, but all the cost too.
As one of a maximum of ten partners: Race clubs recognise up to a maximum of six partners racing a horse, each partner appears in the racebook as an owner and is given raceday privileges such as entrance to the members’ enclosure and mounting yard.
As a member of a syndicate: A syndicate must be registered and a representative appointed. Syndicators must be licensed (the Registrar of Racehorses can supply details). Syndicators buy yearlings at sales and then offer syndicate shares in them through advertisements in the media. Of course you can form your own syndicate.
Through leasing: This popular method of racing a horse requires no up-front purchase price. The horse owner, usually the breeder, leases the horse to a partnership or syndicate as above. The terms of a lease may vary, but often the lease is for a period of three years, with no cost to the lessees except that they must pay the lessor one third of all gross prizemoney that the horse may earn. Horses for lease are infrequently advertised, but your trainer or adviser will probably know of owners willing to lease out a horse. During the term of the lease, the lessees control the racing career of the horse and are regarded as the owners. At the expiry of the lease, the horse must be returned to the owner.
For further information, please Knightsbridge.
Latest posts by S. Jack Heffernan Ph.D (see all)
- Red Element Headlines Bloodstock Auction Sale in Australia - April 28, 2019
- Juddmonte Grand Prix de Paris at ParisLongchamp - April 22, 2019
- Australia’s Horse Racing and Breeding Industry Needs Strong Political Representation - April 13, 2019