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we certainly need new owners in this sport, but I would have thought the first question any one would ask is "how much did it cost".
Not going to be in NZ Ben. I know you must think I am crazy as i do have 13 horses to sell, but i have a heap on with work at the moment so will need to do things by phone and watch over the internet.
You going to buy or just observe?
Yes, agree it seems like a really significant mark-up, Mo ... they can't lose no matter how the horse performs. Guess that's how the business operates ... I don't know.
I'll check out all your lots in NZ ... sure they'll do well. You're starting to get some good runs on the board!
We'll see how it goes over there ... never say never but probably the only thing we'll bring back home is a cold.
Cheers for now,
Ben
I was in a few thoroughbred syndicates when I in the States (CA) a couple of years ago. Claiming horses for 40-50K and turning them over after a race or three. We got lucky with a few and won quite a number of races along the way ... but the big winners are the Cookie Boys running the syndicate and the trainers, his vet etc The outlays were enormous, way over the top. It looks like these guys are off to a similar start.
and yeah if I was even remotely interested, I'd have a vet go over the horse/s with a fine tooth comb.
and I'd steer clear of syndicates involving Mark and Kim Waugh : )
Well, I asked a couple more questions about this ... seems there's a pretty significant 'add-on' cost by the syndicator. I'm not sure of the justification but that's the way it seems to work.
Think I'll investigate getting a bloodstock agent's licence!!! There's good money to be made!!!
I think someone should get syndications going but be realistic about it and to be honest i can't see why there should be any "add ons". However many in the group it should be split and everyone pay equal.
if they are going to run a syndicate i think they should get something, but anything over 10% of the horses total value is ridiculous
more fair, sell 90% of the horse for 100% of its original cost and the remaining 10% can be kept or sold for a profit
I'll go with that idea buster it sounds a lot better than seeing a horse's price doubled.
Well of those four out of the Melbourne sale, the outlay was $109,000 - and the return to the syndicator will be $187,000 if the horses are fully syndicated.
I reckon $78,000 is a pretty reasonable fee to select some yearlings at a sale. Most of us would do it for free.
Maybe there's something extra to the whole equation that I'm missing. If anyone can shed some light on the situation, feel free to drag me from the dark.
I'd be only too happy to mark up a swag of youngsters and go around looking them over and, as you said Ben, I'd do it for free too (Ok, well not exactly for free, a Coke & a Steak Sandwich + onion & bbq sauce is the standard fee). If it meant the introduction to the sport of a swag of new Owners then sign me up. More than happy to do so.