The thoroughbred racing industry has multiple, complex layers that can become overwhelming to the average fan. A lack of one unified governing body as found in most organized sports has proved detrimental to our sport. Each state determines their own rules and regulations, trainers and jockeys are all over the place, and the horses don't race long enough or provide a strong enough marketing campaign to remotely spark the interest of a fan. In recent light of the recession and decline of business, industry leaders such as Jockey Club and NTRA have made great attempts to comply with the needs and demands of the general public in an effort to revive racing.
It becomes a very frustrating task to encourage new people to enter the sport when in reality, racing has a lot of repairs to make before I would enjoy showing our teams. I would hope the ultimate goal is a unified league with one governing across the board set of rules, regulations, disciplines and rewards. I am well versed with many reasons why this task will be difficult, but the general public need not be bothered with the political nonsense. I often follow and input many opinions and discussions on forums such as FaceBook and Twitter with fellow industry members. The conversations can become frustrating because people sometimes have the tendency to be so well educated in their own aspect of business, they forget the marketing dynamic. I speak with industry professionals that are not often around the every day race fan or owner and they forget how to relate. They can't remember what it was like the first few years they might have been exposed to the confusing business of racing. I have been lucky because I am surrounded by multitudes of different people that have different understandings, education, and appreciation for the sport. I try to listen and incorporate the opinions of the general public and relay the message to industry leaders so we can market this sport in a way that would appeal to the general public. One example of differential understanding comes from a statement made by a beautician making small talk. The girl was asking typical questions, one being "So what do you do?". I replied as usual "I work with horses.". She then asked a series of follow up questions in which I replied as usual "I do everything, nothing specific, just a lifestyle.". She went on to tell me, like a lot of people do, that she had some relative that had a horse and she always thought they were just dumb animals, like cattle, and she was scared of them. Of course this was the only entrance I needed to start giving my patented soap box education about the beauty, power, and personality that these creatures possessed and flourished in the stories of all the history in racing. Any time I find the tiniest opportunity for relaying my passion of the sport, I take advantage. The shame comes from those in the industry so caught up with arguing politics and stats that they forget the simple grandeur of this magnificent sport. My only hope is that one day we can become a unified league and take pleasure in introducing our new fan base to the teams and athletes of the sport.
The sport already has the skeleton for a major league sport. Racing, trainers, jockeys and horses are completely different in the West coast as opposed to the East coast. The racing condition and atmosphere vary widely and certain teams will camp out, traveling to tracks solely restricted to one coast. Example: Jockeys Julien Leparoux and Calvin Borel will primarily race on the East coast and Jockeys Joe Talamo and Chantal Sutherland will race on the West coast. The same is true for trainers and horses. The track conditions and method of training are really very different and involve different techniques. Often times, a California trained horse will never compete in an East coast race track unless they are very talented and vice versa. Having demonstrated some differences I will now make the point. Every league has different divisions and in this example I will use football. The National Football League has the AFC and the NFC, basically the West coast verses the East coast. The teams in each division will play each other when scheduled and in the finale... The best team from each division will meet up in the Super Bowl to determine the champ. Football involves teams and believe it or not, so does horse racing. The sport of racing has many team members that the general public is sadly not made aware. Some team members include the horse, groom, hot walker, exercise rider, jockey, assistant trainer, and trainer. A stable. I would like to hope one day the industry will resolve petty differences and market this sport like it should be done. We do have teams, each team has a player, I will try to plan and market each team over the next year so you can choose the one to root. And in my opinion, our Super Bowl is the Breeders Cup...the best of the best from all around the country and World. I will put together a roster of teams with all their stats and info shortly and hope that you will choose to join the greatest adrenaline rush in sports.
The thoroughbred racing industry has multiple, complex layers that can become overwhelming to the average fan. A lack of one unified governing body as found in most organized sports has proved detrimental to our sport. Each state determines their own rules and regulations, trainers and jockeys are all over the place, and the horses don't race long enough or provide a strong enough marketing campaign to remotely spark the interest of a fan. In recent light of the recession and decline of business, industry leaders such as Jockey Club and NTRA have made great attempts to comply with the needs and demands of the general public in an effort to revive racing.
It becomes a very frustrating task to encourage new people to enter the sport when in reality, racing has a lot of repairs to make before I would enjoy showing our teams. I would hope the ultimate goal is a unified league with one governing across the board set of rules, regulations, disciplines and rewards. I am well versed with many reasons why this task will be difficult, but the general public need not be bothered with the political nonsense. I often follow and input many opinions and discussions on forums such as FaceBook and Twitter with fellow industry members. The conversations can become frustrating because people sometimes have the tendency to be so well educated in their own aspect of business, they forget the marketing dynamic. I speak with industry professionals that are not often around the every day race fan or owner and they forget how to relate. They can't remember what it was like the first few years they might have been exposed to the confusing business of racing. I have been lucky because I am surrounded by multitudes of different people that have different understandings, education, and appreciation for the sport. I try to listen and incorporate the opinions of the general public and relay the message to industry leaders so we can market this sport in a way that would appeal to the general public. One example of differential understanding comes from a statement made by a beautician making small talk. The girl was asking typical questions, one being "So what do you do?". I replied as usual "I work with horses.". She then asked a series of follow up questions in which I replied as usual "I do everything, nothing specific, just a lifestyle.". She went on to tell me, like a lot of people do, that she had some relative that had a horse and she always thought they were just dumb animals, like cattle, and she was scared of them. Of course this was the only entrance I needed to start giving my patented soap box education about the beauty, power, and personality that these creatures possessed and flourished in the stories of all the history in racing. Any time I find the tiniest opportunity for relaying my passion of the sport, I take advantage. The shame comes from those in the industry so caught up with arguing politics and stats that they forget the simple grandeur of this magnificent sport. My only hope is that one day we can become a unified league and take pleasure in introducing our new fan base to the teams and athletes of the sport.
The sport already has the skeleton for a major league sport. Racing, trainers, jockeys and horses are completely different in the West coast as opposed to the East coast. The racing condition and atmosphere vary widely and certain teams will camp out, traveling to tracks solely restricted to one coast. Example: Jockeys Julien Leparoux and Calvin Borel will primarily race on the East coast and Jockeys Joe Talamo and Chantal Sutherland will race on the West coast. The same is true for trainers and horses. The track conditions and method of training are really very different and involve different techniques. Often times, a California trained horse will never compete in an East coast race track unless they are very talented and vice versa. Having demonstrated some differences I will now make the point. Every league has different divisions and in this example I will use football. The National Football League has the AFC and the NFC, basically the West coast verses the East coast. The teams in each division will play each other when scheduled and in the finale... The best team from each division will meet up in the Super Bowl to determine the champ. Football involves teams and believe it or not, so does horse racing. The sport of racing has many team members that the general public is sadly not made aware. Some team members include the horse, groom, hot walker, exercise rider, jockey, assistant trainer, and trainer. A stable. I would like to hope one day the industry will resolve petty differences and market this sport like it should be done. We do have teams, each team has a player, I will try to plan and market each team over the next year so you can choose the one to root. And in my opinion, our Super Bowl is the Breeders Cup...the best of the best from all around the country and World. I will put together a roster of teams with all their stats and info shortly and hope that you will choose to join the greatest adrenaline rush in sports.
Posted By: Jessica Maciejewski
Sunday, December 4, 2011
Saturday, November 12, 2011
Selecting The Investment
Before we explore the many portals of investment one aspect of purchasing should be considered, public or private.
Public sales auctions are a common place to purchase thoroughbreds of all age, gender, and purpose. Auctions are held year round in all different states and countries. Depending on the time of year will decide what type of thoroughbred you will view. Yearling thoroughbred sales start in July and have many venues up until October. Mares and weanlings are usually presented at auction in the winter months, and two year olds in training will sell in the early months of spring. If you want to purchase your investment from public auction, you should be well prepared with guidelines and instructions. The web site for all sales companies can usually provide you with all the information and documents you will need to make a purchase. You can purchase a horse on your own but it is a more common and safe practice to find representation with a trainer or Bloodstock agent. One plus to purchasing at auction is the variety of stock contained in one location. A large range of individuals and price are easily viewed and presented in a specific time frame allowing you to find something that will match your business plan. A negative side of auction is the amount of uncertainty about what has truly been done to the product. The horses presented at auction have often times changed hands in preparation multiple times. You can not be sure what kind of cosmetic procedures have been done to get the horse 'sales' ready. Most importantly, in my opinion, you can not be sure how the horse was handled and treated when so many people have been involved in the prepping process.
Private sales are often times a better way to select your investment, but again would be better to have representation from a skilled agent or trainer. A private owner/breeder usually does not like the sale arena for many reasons. Many people do not like the sales arena because they feel it is to stressful and difficult for the horse. People that breed and raise their own horses like to keep hands on approach and you will find a raw product as opposed to the glitzy version of the auction horse. A private seller also sometimes simply doesn't want to pay all the fees associated with selling a horse at auction. A commission has to be made to the sales company representing the horse along with the prep fee, x-rays, etc. I sometimes prefer to purchase privately because you are getting a relatively untouched package and you don't have to look passed all the sales 'chrome'. Again as I have said before, it is like purchasing a car. You can go to the dealer where they detail the cars, apply shiny wax, and talk so quickly to sell that you don't have a moment to think. But it is a dealer with multiple selection to choose from and usually backed by a big name. Or you can choose to look in the paper and on Craigs List and shop for a car from house to house. The idea is that private purchase might be a better option but is very time consuming.
Once a decision is made on public versus private purchase, you now must decide what kind of investment would best suit your needs. I will list several options, but the detail can not be summed up in this particular article.
Pinhooking is a common short term practice that many people prefer because of low overhead. The idea behind pinhooking is similar to that of 'flipping' a house. The buyer purchases an individual at a certain age, puts a little work in to the investment, and then sells at another venue in a year or so with hopes of making a profit. One example; purchasing a yearling at a reasonable price and then paying for breaking and training and presenting the new product at a two year old sale in hopes of a larger profit. This is one simple and vague example, but again you would need to contact a representative for detail. Pinhooking takes a very special talent and it is not easy to make a large profit but once in a while, the market trends shift at the right time and it could lead to the largest investment gain in a minimal time frame.
Partnerships are another relatively low overhead investment that many people prefer when just entering the business. A partnership can provide security and stability that is already structured. A variety of partnerships are available and can be found by researching on line. The reputation of those who form partnerships is important to consider. Many people advertise on Facebook and other outlets the prospect of joining a partnership. Be cautious of selecting a partner. This type of investment requires a certain amount of money to be paid to one managing entity. The percentage of the partnership will determine the cost of your expense and investment. If you enter a partnership you must be willing to let the controlling entity make the decisions. People sometimes get disgruntled with partnerships because they don't agree with decisions pertaining to the horse. It is like investing with a broker in the stock market. You must choose wisely and be capable of monitoring without the ability to interfere with decisions. For some people, this will not be a great option because they would like a more interactive role in the decision making process. Other people thrive on this option because they want to be involved with the excitement of racing but don't want to make decisions with lack of knowledge.
Sole ownership is yet another option. If you would like to explore the world of thoroughbred ownership on your own, many things must be considered. Do you want to race then breed, simply race, or own broodmares with the idea of selling the offspring. If you want to be involved with racing, will you start from the ground up and purchase a yearling and put it in to training yourself? Would you prefer to buy an already 'made' product at a two year old sale? Do you want to claim a horse that has already been to the racetrack? These are all very serious questions to consider and each comes with a detailed portfolio that is entirely too lengthy to cover in this article. A professional agent will help in designing a portfolio and discussing all positive and negative ventures of each option.
Would you like to invest in broodmare stock? This option has the most overhead but is the longest term investment. Owning broodmares can involve a lot of cost and it is a lengthy process to get a return on your money. You have to find a stallion suitable for your mare, pay the stud fee out right or engage in a foal share, hope the mare maintains pregnancy, and the birth happens without any medical issues. However, if you want a long term investment and you develop the right bloodlines a broodmare clan could be your best option.
The possibilities of investment in the thoroughbred industry are endless. Each option would be best suited with a business plan and skilled representation. Thoroughbred racing is an exhilarating sport and not only can you make a very possible return on your investment, you also enjoy the experience. Investing your money in the stock market is almost a riskier decision than thoroughbreds. And who wouldn't prefer watching their professional athlete develop a career as opposed to reading the paper and monitoring stocks while eating a bowl of Cheerios at the breakfast table.
Posted by: Jessica Maciejewski
Saturday, November 5, 2011
Different Ways to Buy
If you’re going to be doing this on your own then there are plenty of ways to go about your purchase. There are actually web sites that have horses for purchase posted on them, this is in fact how my husband and I found our first horse. There may be local farms, training tracks as well as many sales across the country. I highly recommend that your first purchase is of racing age and is an experience racer, more than likely you’d like to see your horse race within a year of purchase. It may sound kind of silly but that’s something to consider and helps keep you motivated.
If you’re not confident on doing this on your own then you can go to your trainer and they can, in most cases, help to find you a horse that will meet your needs. The backside of a track is like a small town and everybody knows about everybody else, including when someone may have a horse that they would like to sell. Or your trainer may have a good recommendation on a horse to claim in your price range. One of the things to remember about claiming is that you won’t have the option of getting the horse checked out before hand, it’s a kind of “As Is” situation.
The benefit of the Bloodstock Agent is that they usually have more information and connections than a trainer. While a trainer may only know about what is on the track that they are at, the Bloodstock Agent usually will have a connection to, not just the trainers on that track, but others in the area as well as the farms. Plus they research stats and bloodlines that the trainer may not have the time to do. They are distinct and specialized jobs. The trainer trains and the Bloodstock Agents only job is to find you the right horse at the right price.
Either way, once you’ve narrowed down the field to a few choices something to think about doing is going to Equibase.com, a site that has the racing and work information for any horse racing in the US, and yes around the world, this way you can get the real race history of the horse you are looking at. Side note to this, when I say “real race history” I mean just that. We dealt with an owner that gave us the incorrect race history of the horse, if we hadn’t checked on this ourselves it could have been a major problem. Then I would go and find a website, such as Calracing.com, where you can watch the past races for free. This will give you a good idea of what you have to work with, i.e. the type of equipment the horse is use to running with and such. Another tool we use is called Truenicks, this is a site that looks at historical data and gives you information about how the breeding of the lines of the dam, mother, and sire, father, mix. It gives you grades from A++ and down and information about probable best distance and such. Now this is not an end all be all, since many horses have run beyond their Nick, it is just one more tool to help you make the best choice you can. The final thing would be one of the most important, get a vet check, remember that if you claim this isn’t available to you. This is just what it sounds like, you have a vet check the horse out before the purchase. You may even want to do x-rays or sonograms to double check for soundness. The x-rays will cover you for bone issues and the sonogram for soft tissue matters such as tendons. I know this could cost you but just think what you could save on making sure the horse is sound. In fact we almost purchase a horse that during the check the vet found something he was suspicious about and recommended we should x-ray, when he looked at it he found a fracture on the cannon bone, we didn’t buy the horse which potentially saved us thousands. If you’ve claimed your horse I would get this done when he gets to your barn.
Claiming races, or running for a “Tag” is the bread and butter of horse racing. In a claiming race you can pick up a horse as long as you pay the tag, or price listed, on the race. A very large percentage of races that are run are “claimers” as they’re called and can range from $1500-$80,000, this is just an example. As a rule if you don’t have an owner’s license already you can get a conditional one at your track, in our case we had to interview with the stewards so that they could determine that we were getting involved in good faith. If we hadn’t gotten the horse then there would be no license issued so be aware of that. Then we got the “Claiming Slip” and set up our Horseman’s Account with our Paymaster, or Horseman’s Bookkeeper. In California we not only had to put in the cost for the claim but the state tax as well, this is not common in all states so check first. Once that was done we filled out the slip and met up with our trainer so that when the time was right he could “drop the claim” on our chosen horse, there is a box that is kept near the paddock to drop these slips in. In most cases once the horse makes it on the track the claim is in play. Once the race is over there will be a track official that will put a tag on the horse’s bridle to let the, now ex, trainer know the horse was claimed. Usually the new trainer will have a groom meet the horse in the test barn and that is where the exchange takes place. Now you could be in a situation, like us, where there are multiple claims put on the same horse, this will get you involved in what is called a “Shake”. A shake is when all parties that have put in a claim choose a number, in our case 1-3, and these numbered balls are put into a special jar which is shaken and then a number is chosen, this is the lucky winner, us.
Now the claiming game can be kind of secretive, many times a horse may be run in a claimer but the connections really don’t want to lose them. Rules have gotten tougher but you can still find that if the connections for a horse get wind of the potential claim they could scratch it, I’ve seen people find out at the gate and come up with a reason to scratch the horse. So it can be secretive and you never want to let anybody know that you’re interested in picking up a horse this way. I know of trainers that have posted people so they could watch the claim box, tried to disguise a horse or even sent grooms out to try to spy on other barns and get info on potential claims.
The one down side is that once you claim a horse you could find out that there is a problem with it, this is where your research can come in. It can be pretty obvious when a horse is doing well but keeps moving down the race ladder, usually a sign that the connections want to dump the horse and just keep moving it down till it finally gets picked up. Take a good long look at cases like this and be aware that this is a potential risk that you take with a claimer. And remember you get no disclosure of the condition of the horse in advance.
Wednesday, November 2, 2011
A Fine Line
Thoroughbred ownership requires involvement, opinion, and cooperation from many groups. Owner, trainer, vet, farrier...all people have an integral part in contributing to the success of the investment.
Owners perspective: An owner can have many different levels of understanding and education in the game. Some owners might just have deep pockets and consider the ownership of thoroughbreds a luxury, as if collecting art. A luxury owner will often request an agent to find the most fashionable sire, famous trainer, and biggest race venue, regardless of actual potential of the athlete. This type of owner often will not care what vet work is performed, how much they are charged for frivolous obscurities, or what a trainer is actually doing by meeting race conditions. Most trainers and agents dream of this type of owner however, they can sometimes do the sport more harm than good. Dumping good money in to fashion without researching the value is the equivalent of buying a Porsche with a Kia in the engine.
The complete opposite side of the spectrum for ownership is the obsessive, compulsive, "think I know everything" owner. The OCD owner will demand full page spread sheets of daily activity, insist that they know more about horses than any owner or trainer alive, and believe that even though they own a Kia it should be a Porsche. The OCD owner can also be bad for the sport because it can cause a ripple effect of negativity and slander for individuals working hard.
Point: All ownership and participation in this sport is appreciated. A common balance and fine line will hopefully be achieved with the general idea being to find the right team.
Trainer perspective:
The high profile trainer: The profile trainer often has a stable of hundreds of horses. A stable this large requires many assistant trainers in all different states. Essentially, the assistant is really the trainer so you need to know all about that individual and not just the headline name. Some assistants are actually better trainers for many reasons. Trainers can be extremely hot headed and evasive or very submissive. A certain trainer will comply with an owners request of daily updates whereas, some are old school and just don't want to be bothered.
The "pay the bills" trainer: A trainer has a small string (very few horses) for many reasons. If a trainer has a small stable they either A; prefer it that way so they can keep a close eye on each athlete they represent B; have not made a name for themselves yet or C; they do bad things and as a result, have a revolving door of clients. A small time trainer can be your best option or worst enemy. The cost is often times cheaper but for what reason? Believe it or not, some trainers (and agents and vets) still believe in doing things the right way. Often times the results do not end in high end celebrity status or income. However, if you choose wisely it could be a slow and steady income potential.
But on the other end, you could think you are getting an honest person and in reality they just can't get the clients and will lie through their teeth, run your horse in to the ground, and pad the bills just to pay the bills.
Point: Find the right team.
Agent perspective: A common scam among Bloodstock agents is dual agency. The practice involves an agent making money off both buyer and seller. It is a common practice and completely unethical because the agent should be dedicated to servicing one need or the other. Dual agency allows for to much gray area and untruthfulness.
The fashion agent: Bloodstock agents have usually spent years developing a reputation for having an eye to select talent. However, many people put there faith in the stereotypical third generation, male prototype. An agent with a big bank roll can be your worst nightmare because it allows a facilitation of laziness. A large bank roll means an individual does not need to work quite so hard to find true talent, they can just select "pretty". Pretty pedigree, pretty body...done and bought. An agent of this caliber is not always doing wrong however, they might be the best in the business.
The low end agent: The small time agents are small time for a reason. It takes years to establish a reputation for spotting talent, market trends, and proven return on investment. The agent is either small time because they haven't established reputation, haven't achieved a famous winner, or just don't know what they're doing. An agent can also be small time if they have a reputation for scamming clients.
Point: Find the right team.
A general summation. The world of racing is more of a team sport than most realize. Although we lack a general united leadership as found in most organizations, the sport lies heavily on teamwork. Until we can achieve one governing body, all involved must understand and be educated about the needs and demands of all parties involved so we can succeed! It doesn't matter if your motivation in this sport is for luxury and status, a lifestyle, paying the bills or love of the animal. At the end of the day the most important thing is finding the right thing for your investment so you get what you want!! The examples I mentioned are at extreme opposite ends of the spectrum on all ends simply to demonstrate how many variables there are in this game. The thoroughbred, owner, trainer, etc. are all living souls with their own unique thought process. It is imperative that you select the right team for your investment.
Horses really do have a personality. You have the jock club which includes the likes of Cigar, Kip Deville, and Service Stripes...they only know how to run, will not bond. And then you have the old mans club: Brass Hat, Perfect Drift, Well Armed, Lava Man....they only want to run. And then there is the diva club, boys that act like girls because their mood is a pain in the ass....perfect drift, any Roman Ruler baby, Quality Road. And finally you have the superstars that don't really need trained, just a place to hang out until they hit the track: Zenyatta, Blame, Ruffian, Secretariat, Man O War, etc....
Pay attention, invest wisely, ask questions, and enjoy!!!
Posted by: Jessica Maciejewski
Owners perspective: An owner can have many different levels of understanding and education in the game. Some owners might just have deep pockets and consider the ownership of thoroughbreds a luxury, as if collecting art. A luxury owner will often request an agent to find the most fashionable sire, famous trainer, and biggest race venue, regardless of actual potential of the athlete. This type of owner often will not care what vet work is performed, how much they are charged for frivolous obscurities, or what a trainer is actually doing by meeting race conditions. Most trainers and agents dream of this type of owner however, they can sometimes do the sport more harm than good. Dumping good money in to fashion without researching the value is the equivalent of buying a Porsche with a Kia in the engine.
The complete opposite side of the spectrum for ownership is the obsessive, compulsive, "think I know everything" owner. The OCD owner will demand full page spread sheets of daily activity, insist that they know more about horses than any owner or trainer alive, and believe that even though they own a Kia it should be a Porsche. The OCD owner can also be bad for the sport because it can cause a ripple effect of negativity and slander for individuals working hard.
Point: All ownership and participation in this sport is appreciated. A common balance and fine line will hopefully be achieved with the general idea being to find the right team.
Trainer perspective:
The high profile trainer: The profile trainer often has a stable of hundreds of horses. A stable this large requires many assistant trainers in all different states. Essentially, the assistant is really the trainer so you need to know all about that individual and not just the headline name. Some assistants are actually better trainers for many reasons. Trainers can be extremely hot headed and evasive or very submissive. A certain trainer will comply with an owners request of daily updates whereas, some are old school and just don't want to be bothered.
The "pay the bills" trainer: A trainer has a small string (very few horses) for many reasons. If a trainer has a small stable they either A; prefer it that way so they can keep a close eye on each athlete they represent B; have not made a name for themselves yet or C; they do bad things and as a result, have a revolving door of clients. A small time trainer can be your best option or worst enemy. The cost is often times cheaper but for what reason? Believe it or not, some trainers (and agents and vets) still believe in doing things the right way. Often times the results do not end in high end celebrity status or income. However, if you choose wisely it could be a slow and steady income potential.
But on the other end, you could think you are getting an honest person and in reality they just can't get the clients and will lie through their teeth, run your horse in to the ground, and pad the bills just to pay the bills.
Point: Find the right team.
Agent perspective: A common scam among Bloodstock agents is dual agency. The practice involves an agent making money off both buyer and seller. It is a common practice and completely unethical because the agent should be dedicated to servicing one need or the other. Dual agency allows for to much gray area and untruthfulness.
The fashion agent: Bloodstock agents have usually spent years developing a reputation for having an eye to select talent. However, many people put there faith in the stereotypical third generation, male prototype. An agent with a big bank roll can be your worst nightmare because it allows a facilitation of laziness. A large bank roll means an individual does not need to work quite so hard to find true talent, they can just select "pretty". Pretty pedigree, pretty body...done and bought. An agent of this caliber is not always doing wrong however, they might be the best in the business.
The low end agent: The small time agents are small time for a reason. It takes years to establish a reputation for spotting talent, market trends, and proven return on investment. The agent is either small time because they haven't established reputation, haven't achieved a famous winner, or just don't know what they're doing. An agent can also be small time if they have a reputation for scamming clients.
Point: Find the right team.
A general summation. The world of racing is more of a team sport than most realize. Although we lack a general united leadership as found in most organizations, the sport lies heavily on teamwork. Until we can achieve one governing body, all involved must understand and be educated about the needs and demands of all parties involved so we can succeed! It doesn't matter if your motivation in this sport is for luxury and status, a lifestyle, paying the bills or love of the animal. At the end of the day the most important thing is finding the right thing for your investment so you get what you want!! The examples I mentioned are at extreme opposite ends of the spectrum on all ends simply to demonstrate how many variables there are in this game. The thoroughbred, owner, trainer, etc. are all living souls with their own unique thought process. It is imperative that you select the right team for your investment.
Horses really do have a personality. You have the jock club which includes the likes of Cigar, Kip Deville, and Service Stripes...they only know how to run, will not bond. And then you have the old mans club: Brass Hat, Perfect Drift, Well Armed, Lava Man....they only want to run. And then there is the diva club, boys that act like girls because their mood is a pain in the ass....perfect drift, any Roman Ruler baby, Quality Road. And finally you have the superstars that don't really need trained, just a place to hang out until they hit the track: Zenyatta, Blame, Ruffian, Secretariat, Man O War, etc....
Pay attention, invest wisely, ask questions, and enjoy!!!
Posted by: Jessica Maciejewski
Sunday, October 30, 2011
Thoroughbred Sales and Public Auction Part 1: Introduction
Purchasing a thoroughbred for your future participation or continued participation in the racing industry is one of the most important aspects of your investment. I would like to reinforce the term "investment". Weather you join the game for pleasure, or you plan on a return for your deposit, you need to be in the mind frame of value. The racing industry has many flaws and is often attacked with negative publicity from laymen complaining of rampant cheating and scamming. All areas of life are plagued with people that are out to make a quick dollar fast without putting in the hard earned work to develop a reputation.
Think in terms of buying a used car, selecting a general contractor, or retaining a lawyer. People can relate to the fact that it is always difficult to find a reliable and trustworthy vehicle, mechanic, or any other service because that entity knows something we don't and can make a lot of money quickly because we are not knowledgable of the product or service. Most people will rely on word of mouth or consumer research tools to find a reputable business. The blog you are reading is designed for that specific reason.
If you plan on purchasing a thoroughbred, you should consult a reputable Bloodstock Agent, Veterinarian, and Trainer. The Bloodstock Agent specializes in research of market trends and breeding value. The agent will research the appropriate pedigree and view all horses for conformational performance. A Veterinarian is needed to make sure all things are in working order with your new investment. The people at the sales known as consignors, provide Vet work, but buyer beware, sometimes Vets and consignors have a "gentleman's agreement" meaning the Vet will "sign off" on a clean bill of health even if their is a developing issue that could cause a problem in the future. Like I said, please remember, it is similar to buying a used car. You can not always trust the salesman or dealership. You must educate yourself and arm yourself with a trustworthy and loyal team of specialists. I will provide more detail as the weeks pass, but this is just an introduction to prepare and help educate. The thoroughbred industry is not "evil" and filled with cheaters and scam artists. Any industry has members that try to make a quick dollar of those less educated. Our blog will help educate and inform, offer assistance of any kind so you can gain the most from your new investment and enjoy the main purpose: love of the athlete and thrill from the adrenaline rush of standing in the winners circle! Join the Ritual.
Posted by: Jessica Maciejewski
Think in terms of buying a used car, selecting a general contractor, or retaining a lawyer. People can relate to the fact that it is always difficult to find a reliable and trustworthy vehicle, mechanic, or any other service because that entity knows something we don't and can make a lot of money quickly because we are not knowledgable of the product or service. Most people will rely on word of mouth or consumer research tools to find a reputable business. The blog you are reading is designed for that specific reason.
If you plan on purchasing a thoroughbred, you should consult a reputable Bloodstock Agent, Veterinarian, and Trainer. The Bloodstock Agent specializes in research of market trends and breeding value. The agent will research the appropriate pedigree and view all horses for conformational performance. A Veterinarian is needed to make sure all things are in working order with your new investment. The people at the sales known as consignors, provide Vet work, but buyer beware, sometimes Vets and consignors have a "gentleman's agreement" meaning the Vet will "sign off" on a clean bill of health even if their is a developing issue that could cause a problem in the future. Like I said, please remember, it is similar to buying a used car. You can not always trust the salesman or dealership. You must educate yourself and arm yourself with a trustworthy and loyal team of specialists. I will provide more detail as the weeks pass, but this is just an introduction to prepare and help educate. The thoroughbred industry is not "evil" and filled with cheaters and scam artists. Any industry has members that try to make a quick dollar of those less educated. Our blog will help educate and inform, offer assistance of any kind so you can gain the most from your new investment and enjoy the main purpose: love of the athlete and thrill from the adrenaline rush of standing in the winners circle! Join the Ritual.
Posted by: Jessica Maciejewski
Saturday, October 29, 2011
Thinking About Cost
So another thing you have to do is to honestly figure out what kind of money you want to spend on this deal. As an example it is about 1/3 to 1/2 of the price for a trainer in Arizona than it is in Southern California. Trainers have what they call a Day Rate, this is what they will charge you every day of the month for your horse. It covers all the basics such as feed, works and everything to do with the daily routine. It doesn’t cover vets, shoeing any special supplements or medications or anything to do with the actual race day, we’ll get into those later. Another way that some trainers do business is to not charge you a Day Rate but to charge you a percentage of the win money that the horse makes. Now I personally am not a fan of this method, and I don’t think many trainers are either, since the trainer carries all the cost and that can mean the owner doesn’t really have much say about what goes on with the horse let alone make much off of any money earned. As an example I know of a man that had such a deal with his trainer, the owner got 25%of the winnings with the trainer getting 75%. So just think if your horse does do well that means you see very little return on your investment. Anyway, so in Arizona you could pay a good trainer $40-$50 a day and in Southern Cal that could run you around $90-$100. Now keep in mind that the difference between the two is like the major leagues and a farm team, so some of that jump in price is completely justified. Some of it has to do with things like Workman’s Comp and fees that the trainers have to pay, and of course those are going to get passed to the owners, some states are just much more expensive to deal with.
Another option to cut down on your cost is to go into a partnership. Again there are several ways to go on this, you can get with some friends and all buy in on a horse and split the cost, like the partnership that was started by six friends in New York and purchased Funny Cide, or you could buy into an already established racing partnership. Usually you buy “shares” like a stock. If you go this way you want to have a very defined agreement with a clear understanding of how many shares there are and what responsibilities and benefits are part of this partnership. Remember if you don’t own the majority you’re really just along for the ride and may have no real say so about anything. However, this is a good way to get your feet wet and to go out there and just have some fun without the bulk of the responsibility. No matter which way you take make sure part of the deal is to get copies of all the bills that affect your horse, such as vet bills and such, so that you have a complete accounting of what your percentage of liability is.
Thursday, October 20, 2011
You Need a Vet
In the list of things to do here is another very important step, get a good vet! If you are going to buy your new horse in a private sale then one of the things that you absolutely have to do is get a Vet Check of your potential new horse. This is just a basic physical not an in depth exam however it could end up bringing some problems to light that would then require a more extensive check. As an example, at one point my husband and I were going to purchase a horse and had the Vet Check done. The vet came across something that caused him concern and recommended that we get an x-ray done of one of the legs, he found a that the horse had a hairline fracture. We let the owner know about it and chose not to complete the sale. This saved us, potentially, thousands of dollars. Now if you claim a horse then you don’t have this ability, when you claim it is basically and as is sale so be aware of that. But if you get the horse be sure that you have it checked out fully as soon as you can by your trainer’s vet.
If you are new to this then there are a couple of things you need to know about dealing with vets, doesn’t matter if they are on the track or training farm. First, make sure that bill is sent straight to you and not your trainer, you’re going to need them for your taxes anyway, this way you know exactly what is going on with your horse’s health. Second if you don’t understand what you’re getting charged for then don’t be afraid to call and ask them, heck with the internet you can look up the medications and such online if you want. Don’t be intimidated by them, in most cases they are more than happy to explain what was done and why.
Things to Think About Part 2
Jessica Maciejewski
Jessica Maciejewski
Founder and agent with Ritual Bloodstock and WorldEquus
I moved from PA to KY at the age of 18 with dreams and aspirations of becoming a famous race horse trainer. The motivation was spawned from the love of horses and many picture books I viewed as a child of the beautiful farms and history of the infamous bluegrass state. Kentucky was amazing, and I started out on the backside, but what I saw made me change my mind about a career in training. I did not like many of the practices and treatment of horses observed on the track. It is also a very difficult feat to make your way in this business as a female without family ties in the thoroughbred business. I tried my way in several different venues of the industry, pedigree forms at Bloodstock Research now known as Brisnet, show person for Keeneland sales, pari-mutuel clerk, farm worker, and equine veterinary technician. I eventually discovered the world of a Bloodstock agent. A Bloodstock agent is much like a Real Estate agent, I locate and purchase what a buyer of thoroughbreds wants. It is a tough profession and takes a very long time to build your reputation. So in the process, I went to school at the University of Kentucky to kill time and received a degree in Biotechnology. I chose the degree so I could concentrate on genetics and apply to my Bloodstock research. The thoroughbred industry is tough, you have to have a tough skin and be educated. I do not have a job or career, I have a lifestyle and it is fabulous. The sport of racing is invigorating and I want to share my passion with everyone. I flourish from providing others with information, answering questions, and introducing you to these amazing athletes. The sport of racing is an adrenaline rush like nothing you will ever experience. The purpose of this page is to provide a comfortable forum that you can feel welcome to ask any and all questions. It is not designed to attack, criticize, or complain about people, places or events. Owning a thoroughbred, being a partner, or simply a fan is confusing. The blog is an international reference, the BBB of racing. Please post and contribute any and all experiences, tips, thoughts, and experiences to help each other learn. Enjoy.
Founder and agent with Ritual Bloodstock and WorldEquus
Terri Crookham
So first off let me tell you a few things about myself, I mean after all what makes me qualified to even talk about this whole horse racing stuff? Well my folks got in the business back in the early 70’s at a fair track in Victorville Ca, it wasn’t a pari-mutuel track and you didn’t even need papers to race there but it was a start. We traveled all over the fair circuit in Arizona till one day my mom told my dad she wanted to go to Juarez, my dad’s answer was “where the hell is Juarez”. It turns out they actually had a shirt that said that. Anyway, we raced there and all around New Mexico for years. I was, at first, the unofficial groom and when I was old enough I got my license and became official. As I got older and worked in the “real” world, I still went and helped my folks out whenever I could. One day I went in a partnership with my dad on my favorite horse, Dhabi Lee, until I moved out to Las Vegas to be with my now husband.
Time came and went, my dad passed away and my mom retired from the business. I even ended up working for the simulcast company that sends out the bulk of the tracks to everyone, great gig right? Watch horse racing all day and get paid for I, that will come into play later. Then the husband looks up a horse that my mom wanted some info on, Black Tie Affair, she used to love watching this guy run. The hubby ran across a grand-daughter of his, Missy’s Gone Wild, which was for sale in Riverside Ca. He said “let’s go buy a horse”, so we did. Now mind you there were other things we went thru before we loaded in the car and drove down there to see her, but I’ll cover that stuff in my writings.
Anyway one horse led to another, Practical Magic, and then Missy getting in foal, yes we’re now breeders too, and then a third horse, Running Isabella. I’ve heard people say they’re like Lays potato chips and you can’t have just one. We’ve been thru several trainers, riders,stables and vets. I started talking to another lady that was a small owner and we realized that there didn’t seem to be any sort of resource for people that were small owners or people just getting involved with the sport. I brought this up to another friend, Jessica, when she was out visiting from Kentucky. So then Jessica came up with idea to do this blog and asked me if I was up for it. I thought what the heck, I’m always on Facebook and all the sites anyway picking thru information so why not.
So the whole purpose of this blog is to share information about a business that, many times, likes to keep everything kind of secretive. So welcome to our blog, and be sure to let us know if there is anything you’d like to see us cover, or frankly anything you have a question about at all.
Start Planning Now
Thinking of Breeding
You may want to look for a stallion in your state since there may be breed incentives available to you thru your State Breeders Association. Plus, if your mare is in state it would be easier for you to visit and conduct any business you may need to take care of. In addition you may save on shipping cost, which can be considerable. If you choose to go out of state the stud farm will probably have a list of nearby farms that they deal with as far as boarding. It was a big surprise for us that the mares don’t usually stay on the farms where you breed in Kentucky. The stud farm can be a major source of information and help to you, so don’t be afraid to ask them.
Things to Think About Part 1
Sunday, October 16, 2011
Getting Started
So you want to own a racehorse? Well there are some things you need to think about before you go out there and try to buy your Seabiscuit or Secretariat. You need to think about; location, what you can afford, are you going to own your horse 100% or in a partnership, taxes and even try to look down the road to when your horse no longer can race.
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