Making the dream of a lifetime a reality requires a great deal of research and patience, plus the setting of objectives determining how much you want to be involved in your horse’s career. The decision to buy a racehorse can involve a lot more than it would appear on the surface.
Do you want a ready made runner? Or a horse that is currently competing in races as a claimer? Does the idea of developing a racehorse from the beginning of its career sound appealing? Then buying a horse at auction may be the way to go for you. In the following paragraphs we will attempt to outline the different options and considerations for making your initial purchase.
THE OLDER HORSE
The older horse can offer many advantages to the first time buyer:
* Quicker return on your investment
* A predetermined value (claiming price)
* A truer idea of your horse’s ability
While having these advantages, there may be a downside if you’re looking to make the score of a lifetime. Older horses don’t generally make tremendous jumps or rises in value, but remember there are always exceptions to every rule in horse racing. The upside is that your claim should reflect its actual worth and the ability to run the horse in a race soon after.
Purchasing a horse through an auction can be one of the most exhilarating experiences of a lifetime. Bidding against others for your potential “big” horse can be as thrilling as winning a race. Living in Florida, we are very fortunate to be within driving range of one of the major sales companies in the country, the Ocala Breeders Sales, however other venues can also feature some of the best opportunities such as Keeneland or Fasig-Tipton Sales Companies.
* Weanlings and Yearlings
* Two year olds in training
* Mares, mares-in-foal and foals at foot
* Older racehorses
With over 50,000 horses going through the ring in any given year and sales prices constantly changing, it is wise for the novice investor to seek out a great deal of counsel on the upcoming purchase. Advisers could include trainers, veterinarians. If you are looking at weanlings (horses less than one year) or yearlings (horses one year of age) your advisers can study pedigrees and confirmations (physical qualities)... Remember that these horses have not been tried so it is very hard to access their true ability.
TWO YEAR OLDS
Two year olds in training one year older and have usually been broken to the saddle. They may have been in training with some short works under their belt and these factors can give you a gauge on the horse’s future performance. The downside to buying a two year old is that you are paying for the performances the horse has given so far - the faster the work, usually the higher the price. The upside is that many champions have been bought at auction for a reasonable price with examples being: Silver Charm for $12,500 and Seattle Slew for $17,500, so bargains are around!
Anyone can attend an auction and you may bid on any horse as long as you have made financial arrangements prior to the sale with the Sales Company. Remember when making the step into owning a thoroughbred - whether it is through an auction, private purchase or the claim box, consult the advice of many people including fellow owners, trainers and make sure you can afford the monthly bills.
Then you should be on the way to the thrill of a lifetime - owning your own racehorse!
HOW TO OWN A RACEHORSE
The excitement of crossing the finish line in first place can be
compared to no other.
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