Purchasing a Racehorse through Public Auction
The most important part of getting into the horse racing industry is purchasing a good racehorse. Most of the big stable yards send their bloodstock agents to the various sales to make a purchase on their behalf. Oftentimes smaller yards, or people just starting up, don’t have the finances available to have a permanently employed agent, and have to attend the sale themselves.
It is always recommended to seek assistance and advice before purchasing a racehorse. There are three ways to make a purchase: Claim, Private Sale or Public Auction. Each one has advantages and disadvantages, and at a public auction there are a few points that buyers should follow.
Taking the trainer of the future horse to the public auction is a good start, as most trainers know what they are looking for in a racing horse. When looking at weanlings, yearlings and two year old horses, it is important to know the differences consider the positive and negative sales points of the public auction. One advantage of a Public Auction, in regard to all three horse divisions, is that there are veterinary services available to ensure the health of the horse and that the purchase agreement is sound.
Weanlings are usually reasonably priced and profit can be made on re-sale, but it is almost impossible to evaluate their abilities and the weanlings won’t be ready to hit the track for another eighteen months. There is always a large selection of yearlings available at a public auction and one positive aspect of a yearling is that training can be overseen by the owner, as it will be approximately a year before the yearling is old enough to race. Two year olds are better developed horses that are ready to be entered into racing events, however there is always a small number of two year olds available and owners will have to ensure that the horse has been given the correct training before taking on the competition.
First time and novice buyers should always work out how much they are able to spend, before the auction, and remain in that price range. Get the auction catalogue ahead of time to study the horses on offer, research their back ground, ask advice on them and take a look at the sales conditions. If buyers are unable to make use of the services of an agent, they should always ensure that there is a veterinarian who can do the pre or post-sale examinations. It is also important to ensure that boarding, stabling and transportation arrangements have been made before the auction.
Working with advisors, trainers and agents during a public auction is always recommended, as their knowledge and experience is invaluable when making a sound purchase and learning the ropes. While attending public auctions and sales, owners will become familiar with the procedures and the conformation of a promising racehorse.