A Few Tips for Sale Rookies
January 9th, 2002by Jude T. Feld
You have julep cup wishes and Derby dreams. Your savings account boasts enough money to buy a racehorse and keep it in training. The Keeneland September Yearling Sale is calling your name, but you don’t know the ropes. Here are a few suggestions that might help.
1) Find a professional advisor. Most of the sale consignors also serve as bloodstock consultants. Trainers are in abundance in the barn area and so are Thoroughbred owners from around the globe. Most people involved in racing are willing to talk horses with you. Take advantage of that fact and ask questions. Let an experienced person point you in the right direction.
2) Don’t be gullible. Not everyone with manure on their shoes is an expert. Consignors are salespeople. They want you to buy from them. Just because a bloodstock agent says that “this baby outruns everything in the field,” doesn’t mean that it is the reincarnation of Seabiscuit.
Most trainers would welcome another horse in their barn, especially one that they picked out. Trainers are like lovers, there is someone for everybody. Keep looking until you find the right one for you.
Remember that trainers are always on the the lookout for the next Eugene Melnyk or B. Wayne Hughes. For all they know, you could be a billionaire who likes to wear Hawaiian shirts with plaid shorts or t-shirts with your toy poodle on them. If they are too anxious to get you to buy a horse, beware, and if they don’t seem interested in you or your questions, forget ’em. There’s another one just around the corner.
3) Use your personal knowledge. If you are seriously considering buying a racehorse, you must have some idea of what the sport is about. You might know about horses because you were raised with Old Blue on your grandpappy’s ranch or you might know about pedigrees from years of reading the Daily Racing Form. Utilize that knowledge as you inspect the horses or peruse the catalog pages.
If you don’t know which end eats or the difference between Storm Cat and Nehoc’s Bullet, maybe you should just watch this sale and learn some more before you take the plunge into Thoroughbred ownership.
4) Get veterinary advice. There are at least a hundred vets on the grounds examining horses for their clients. They are an excellent source to help you judge conformation and suitability for racing. Many horses have x-rays and scoping reports in the repository. It is wise to pay a vet to look them over before you bid.
5) Stay within your budget. You find a horse that you like, the vet approves and your advisor gives you “two thumbs up.” How much should you pay?
Only what you can comfortably afford to lose. There is risk in any investment. Horses are certainly no exception.
The sales ring is a very exciting place. The bids start flying. The heart starts pumping and pretty soon the price is close to topping your budget. Don’t be tempted by the auctioneers plea to give him an extra $5000. Be smart. Stay cool. There are 300 more horses selling tomorrow.
Horse racing is a great sport, but the most successful owners operate their stables as a business. Be wise and follow their lead.
6) Have fun. There is nothing lovelier than a fall day at Keeneland. Take in all the beauty and enjoy yourself. It’s a marvelous feeling when the hammer falls and the auctioneer points your way… just another reason why Thoroughbred racing is called The Greatest Game.
