{"id":177,"date":"2020-11-25T19:24:39","date_gmt":"2020-11-25T19:24:39","guid":{"rendered":"http:\/\/horseracingbettingsites.co.uk\/?page_id=177"},"modified":"2022-03-25T11:17:11","modified_gmt":"2022-03-25T11:17:11","slug":"how-to-buy-a-racehorse","status":"publish","type":"page","link":"https:\/\/www.horseracingbettingsites.co.uk\/articles\/how-to-buy-a-racehorse.php","title":{"rendered":"How to Buy a Racehorse & How Much Does it Cost?"},"content":{"rendered":"

There\u2019s not one single way to buy a racehorse, in fact there isn\u2019t even one right way to buy a racehorse since it entirely depends on how your ambition and how your bank account stack up together.<\/p>\n

Although some horses may prove to be that one in a million that ends up winning you a ton of money, in general it must remain a hobby, hence the term \u201cif you want to make a small fortune from horse racing, start off with a large one\u201d.<\/p>\n

What you do need to be aware of is the cost and some of the limitations involved in buying a thoroughbred which we\u2019ve touched on here, though despite the risks and the costs the rewards are potentially huge if you get lucky with an improving type of animal.<\/p>\n

How Much Does a Racehorse Cost?<\/h2>\n
\"Wealthy
Wealthy Horse Owner<\/figcaption><\/figure>\n

Well, there\u2019s no set answer to this.\u00a0 Cheap yearlings (horses between one and two years of age) are available but truthfully will have very little in the way of potential.\u00a0 With horses, and some would cheekily say humans too, so much of their potential can be predicted at least a bit by their breeding and so those bred well will be very expensive indeed.<\/p>\n

You may pick up a racehorse for as little as \u00a3500 or \u00a31000, but you\u2019ll probably be left waiting for a good opportunity to back the horse and trying to win some money as opportunities for prize money with such an animal will be very limited indeed.<\/p>\n

It\u2019s common for owners to pay \u00a310,000, \u00a320,000 and more for a thoroughbred in the UK and at that level, they may get lucky with an improving type who may go on to land some very good prize money.\u00a0 In other cases though, they end up showing very little in the way of ability or even get injured along the way.<\/p>\n

At the top end of things though the thrill of buying the best bred racehorses tends to belong to a small club of very rich entities.\u00a0 In October 2017 the racing stable of Sheikh Mohammed and the Maktoum family, Godolphin, paid 4 million guineas (\u00a34.2million) for a filly at the Tattersalls sales at Newmarket which raised a few eyebrows even among the great and good of the sport.<\/p>\n

Large fees of over \u00a31 million though are not uncommon during any racing year and the ability of some studs is so proven that the fees paid out for a horse at auction may be seen as simply a wise investment.\u00a0 Not only will the purchased horse almost certainly go on to win a good level of prize money, but they themselves will be very valuable at stud and that\u2019s where the real money is made in this sport.<\/p>\n

Owning Costs<\/h2>\n

\"Cleaning<\/p>\n

This is the real kicker for those looking to break into ownership as there is a lot more to owning a racehorse than purchasing one in the first place.<\/p>\n

Costs include training fees, costs of maintaining gallops, transport, vets and farriers, jockeys, entry fees for races and a lot more besides.\u00a0 The average cost for flat horses tends to run to around \u00a323,000 per year on average, though this can rise depending on which trainer you choose.<\/p>\n

The average over the jumps is around \u00a317,000 though of course the risk of injury and the lack of prize money would make even this a risk, despite the lower initial fees.<\/p>\n

Just to put it into context; if the average flat jockey is earning around \u00a320,000 and the average horse costs \u00a323,000 to keep in training, you can see why the game is reliant on its owners to maintain their interest in the sport and keep their money coming in.<\/p>\n

Naming Rules<\/h2>\n

\"Racehorse<\/p>\n

As you would imagine, there are fairly strict rules in the UK when it comes to naming your racehorse.\u00a0 The BHA website has a search facility allowing you to type in your desired name and check its availability, though you would be better off knowing some of the ins and outs first.<\/p>\n

The main, unshakable rule set forth by the British Horseracing Authority when it comes to naming horses is the character limit.\u00a0 No name may have any more than 18 characters which makes some of the more creative naming ideas unusable.\u00a0 It\u2019s also why you\u2019ll see such turf stars as Shutthefrontdoor spelled the way they are, i.e. with no spaces to save on the total characters used.<\/p>\n

All owners wishing to nominate names for their purchases need to submit them to the BHA for approval first, mostly to ensure there is not another thoroughbred in training with the same name.\u00a0 As well as this, legendary names of the game such as Shergar or Kauto Star will not be allowed again in order to maintain their legacy.<\/p>\n

One tradition in racing, though not a very creative one, is to name horses at least partially after their sire or dam, in other words after their father or mother.\u00a0 Derby winner and champion sire Galileo has had some of his offspring named after him for instance, even such high class horses as Galileo Gold or Red Galileo (a grandson of the great horse) who have their own top class status now.<\/p>\n

BHA administrators though have another key job; to make sure no offensive or crude names slip through the net.\u00a0 Not that it always works of course!\u00a0 Over the years, horses such as Two In The Pink and Wear The Fox Hat have been accepted, probably innocently and naively, though it\u2019s easier when the language is different.\u00a0 Over in France, a horse named Big Tits ran six times under rules and the owners got away with it!<\/p>\n

Shared Ownership<\/h2>\n
\"Racehorse
Syndicate with their winning horse<\/figcaption><\/figure>\n

Given the expense attached to owning potentially decent race horses, one way many people choose to get involved is via shared ownership.<\/p>\n

Syndicates, as they are commonly known, own an increasing number of race horses in Britain and give their owners the chance to take part on race day in just the same way as a Saudi prince or an Emirati Sheikh.<\/p>\n

All part-owners of a horse will be given access to the course, the owners bar, the parade ring and other exclusive areas giving those involved the full racing experience as opposed to simply watching from the stands or having a bet in the ring.<\/p>\n

Part-owners don\u2019t have to set up purchases on their own either; rather they can buy into an existing syndicate for a small fee.\u00a0 Syndicates tend to have a limited number of shares, allowing budding racehorse owners the chance to experience all the thrills at a reasonably low cost without sharing their horse with too many people.<\/p>\n

For a fixed cost, syndicates tend to dangle the carrot of racing ownership without any of the hassle of dealing with the BHA and the other relevant racing bodies.\u00a0 Some even offer shares in horses for as little as \u00a325 per month.<\/p>\n

How Racehorses Are Bought and Sold<\/h2>\n

For starters, your legal rights involving horses depend a lot on whether you are buying from a private seller or a trader.\u00a0 Essentially, you gain more legal protection when buying a horse via a trader or dealer than a private seller.<\/p>\n

When buying into a syndicate of course, the administrators of the syndicate do all the donkey work for you and all you have to do is keep up with the monthly payments and turn up on race day, however at the higher end of the sport things are a little different.<\/p>\n

The very biggest owners in the sport will usually hire full-time Racing Managers to handle their stables or stock, as they simply own too many horses to do this themselves.<\/p>\n

Buying and Selling Privately<\/h3>\n

\"Buying<\/p>\n

Like any other commodity, racing thoroughbreds can be bought and sold privately between individuals but, as mentioned above, potential new owners should make sure they are represented legally to ensure they are not being sold a dud without any form of last recourse.<\/p>\n

That being said, even if you are not buying into a syndicate or wishing to start your very own large racing stable you can use a licensed trader to find you a racehorse within your budget, whatever that may be.<\/p>\n

Traders these days have professional, simple to use websites which will list horses for sale by showing their price (with or without VAT) and a photo of the animal.\u00a0 Clicking into each lot for sale will reveal more information in much the same way a car seller\u2019s website would.<\/p>\n

Instead of tempting you in by lines such as \u201ctaxed and MOT\u2019d until January\u201d though, you may see \u201cthree-time winner with exciting future as a broodmare\u201d for example.<\/p>\n

The horses are categorised too in case you are looking for something in particular, namely Stallions, Broodmares, Yearlings, Foals, Unraced Horses, Jump, Flat, Syndicates and Shares Horses etc.\u00a0 You may also search by price to ensure you don\u2019t get tempted in and get your eye on one you simply cannot afford!<\/p>\n

Auctions<\/h3>\n
\"Tattersalls
Tattersalls Newmarket EduMark<\/a>, CC BY-SA 3.0<\/a>, via Wikimedia Commons<\/figcaption><\/figure>\n

Those who really know their stuff and can keep up with the hustle and bustle may wish to attend an auction in order to be able to see their potential purchases in the flesh before making a bid.<\/p>\n

Major auctions in the UK are Goffs (Doncaster), Graham Budd (London) and Tattersalls at Newmarket for example and many millions of pounds worth of bloodstock is traded here.<\/p>\n

These are only three examples however and in fact the list is endless.\u00a0 The trade paper, the Racing Post, lists all upcoming auctions by type and date and there are representatives of owners and trainers who make a very good living simply by trading horses on behalf of others.<\/p>\n

There are all sorts of different types of auctions taking place and so one thing a buyer will need to know before reaching for the debit card is which type suits their needs best.<\/p>\n

Yearling Sales Versus Breeze Ups<\/h3>\n
\"Yearling\"
Yearling<\/figcaption><\/figure>\n

These are the two main options when thinking about buying a young horse with a flat racing season in mind, which could be very lucrative if finding the right horse.<\/p>\n

The Yearling Sales take place in the autumn with the horses \u2018unbroken\u2019, i.e. they have not been in training with a trainer yet and so buyers are judging them just on appearance, breeding and sometimes even reputation.<\/p>\n

Once bought, the yearling will be sent to a trainer at a monthly cost with the view to going racing from the following spring onwards when they are more than two years of age.\u00a0 Some however are not ready to race until into their three-year-old season, depending on how \u2018forward\u2019 they are and so patience is often required.<\/p>\n

The Breeze Ups are different though, taking place in the spring when these same horses for sale will have turned two in this case they run, or \u201cbreeze up\u201d for two furlongs in order for potential buyers to judge their movement and their action.<\/p>\n

Many even use actual times to help influence their decisions, though these types of sales have their doubters as to their validity or even their morality.<\/p>\n

Some may feel that, as very young horses, they are being pushed too hard, too fast in order to perform well enough to be sold for a good fee and so whatever they achieve at this age having been bought, they may not necessarily improve on as they get older which is bad for an owner.<\/p>\n

Claiming<\/h3>\n
\"Bought
Selfie with recently claimed horse<\/figcaption><\/figure>\n

One last way to get yourself a racing thoroughbred is to \u2018claim\u2019 one via some of the races put on especially for this purpose at just about every racecourse in the country.<\/p>\n

A Claiming Race is one in which each horse\u2019s racing weight is decided by the price placed on them by connections.\u00a0 In other words; the trainer may want to win the race and so would like his horse to carry less weight, however he will then have to place a low value on his horse making it easier for someone to \u2018claim\u2019 off him after the race and take out of his yard.<\/p>\n

Horses can be claimed, i.e. bought, by other owners or trainers for the specified price immediately after the race is run, though the rules for a Claiming Race or slightly different from those in a Selling Race.<\/p>\n

All of the runners in a Selling Race apart from the winner are entitled to be claimed for their set price, just like in a Claiming Race.\u00a0 In a Seller however, the winner only is then auctioned off in the ring after the race and so it is pot luck to an extent whether a potential new owner gets a real bargain, or sees the price of their potential new purchase rise too much.<\/p>\n

Buying in this way is not a way to find yourself a future star, as the vast majority of horses running in claimers or sellers are considered among the lowest rated horses on the circuit, whether on the flat or over the jumps.<\/p>\n","protected":false},"excerpt":{"rendered":"

There\u2019s not one single way to buy a racehorse, in fact there isn\u2019t even one right way to buy a racehorse since it entirely depends on how your ambition and how your bank account stack up together. Although some horses may prove to be that one in a million that ends up winning you a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":27,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"acf":[],"aioseo_notices":[],"publishpress_future_action":{"enabled":false,"date":"2024-05-03 21:00:11","action":"change-status","newStatus":"draft","terms":[],"taxonomy":""},"_links":{"self":[{"href":"https:\/\/www.horseracingbettingsites.co.uk\/wp-json\/wp\/v2\/pages\/177"}],"collection":[{"href":"https:\/\/www.horseracingbettingsites.co.uk\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.horseracingbettingsites.co.uk\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.horseracingbettingsites.co.uk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.horseracingbettingsites.co.uk\/wp-json\/wp\/v2\/comments?post=177"}],"version-history":[{"count":5,"href":"https:\/\/www.horseracingbettingsites.co.uk\/wp-json\/wp\/v2\/pages\/177\/revisions"}],"predecessor-version":[{"id":750,"href":"https:\/\/www.horseracingbettingsites.co.uk\/wp-json\/wp\/v2\/pages\/177\/revisions\/750"}],"up":[{"embeddable":true,"href":"https:\/\/www.horseracingbettingsites.co.uk\/wp-json\/wp\/v2\/pages\/27"}],"wp:attachment":[{"href":"https:\/\/www.horseracingbettingsites.co.uk\/wp-json\/wp\/v2\/media?parent=177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}