5 points to consider before buying your racehorse!
Posted: 11th May 2016
Thinking about becoming a part of the most exciting sport that there is? Haven't got a clue where to begin, where to look or what to expect? Here are the 5 points to consider when making the decision to try your hand at racehorse ownership.
1. Dollars and Cents
This is the biggest thing to consider when deciding to purchase a share in a racehorse. You should be setting out a budget on how much you would like to spend, initially on the actual purchase price on your share and then how much the ongoing cost will be. Yearlings can fetch anywhere between $1200 (Takeover Target) to $5 million (Black Caviar's half brother) and everywhere in between so find something that meets your financial situation.
Owning a racehorse is an emotional and exciting venture that will at times thrill you and at times leave you in despair. Upon purchasing your horse, if it is a yearling, the excitement may overwhelm you into promptly telling everyone you know that it will be ready in time for the spring carnival and the first two-year old race of the season. Nowadays young horses are being bred to be early two-year old types however some are not mature enough to handle racing as a young horse and some just physically not developed enough to tackle racing just yet. Although things will not always go to plan with your young horse it is still an exciting process seeing your horse get to the trials for the first time and watching it develop over time.
So you decided to finally bite the bullet after years of following the sport and buy a racehorse. You watched the rise of a horse such as Buffering, bought for $22,000, go on to win over $8 million and take on the world and thought to yourself, 'how easy is this'? The dream of owning a champion is what captures the imagination of new owners and keeps existing owners coming back for more. Don’t be too down heartened though if your horse is winning races at the country tracks around the country as this is also a great thrill. No matter the track or class of race, if your horse finishes first past the post, you’ll feel on top of the world.
It is important to note who will be training your new investment! If you have a favourite trainer then this may be a determining factor in whether you pick a certain horse to buy a share in. You may only want the best horseman in the country to train your future champion or you may have a favourite country trainer that you think is rising through the ranks.
5. Which Syndicator
Research as many syndication companies as you can. One of the main points to note is the record they have in picking out yearlings that become decent racehorses. It is also important to pick out a company that has a good communication system and is someone that you can trust. Most syndication companies now have extremely impressive communication systems in place and regularly keep you informed on your horse and its progress. Most now have websites devoted to their owners where you can log in and see current photos and audio uploads from the trainer. Another thing to note is that all syndication companies are required to provide a Product Disclosure Statement so they are all accountable and transparent in all aspects.
Now you are equipped with the knowledge the help you make the first step into owning a racehorse. Good luck and Happy Racing.