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Originally Posted by AeWingnut
I think it cost the same for a stake horse as a $5k claimer
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At first glance this looks like an obvious statement. But I can't impress upon folks the absolute truth in it. What it takes to keep a horse is so far and away paramount to buying one. Day rates are the variable - anywhere from 40 ish a day in the mid west and minor tracks to 80+ a day at NY, GP, SA, etc.
That's 80 a day, whether it's an 8K claimer or Nobiz Like Showbiz...Add vet bills, shoes, transportation, supplements...it adds up every month.
It's the greatest experience of a lifetime, and if one has the means, I highly recommend it. But go into it with the firm knowledge that you may not race, you may have medical issues, etc. but the horse eats 7 days a week regardless.
If you're looking to purchase a 2yo at a sale, there are other factors that go into the purchase. The horse needs to be scoped, vetted, and vanned to the training facility. From there you are looking at most likely 5-8 months of training before you get to the track. Add another 6-8 weeks of training and gatework at the track before your first race. Typically, I pay between 48.00 to 55.00 a day for training 2yo's in Ocala depending on which farm I use.
So, say for instance you purchase a 2yo at the OBS select sale in March. For the sake of example, say you pay 50K.
You've got Bloodstock agent(or whoever you're using to help select the horse and represent you as the buyer in the sale ring) fees, Vet fees and Van fees, and mortality insurance right off the bat. If you are training near the sale barn (in this case Ocala) the van fees are minimal as the van will be full of horses most likely going to the same place or within close proximity.
Agent fees - I think I paid around 5% of the purchase price, but that may be high
Insurance - around 10% of the purchase price
So...50,000 in the horse
5,000 insurance
2,500 to the agent
300 vet
140 van
You're right around 58,000 to get the horse off the property.
The first month or two at the training farm is usually just letting them out in the field. The stress of the sale + they're still very young can ruin a good horse by rushing it into training. Typically the day rate is lower (33.00 a day) until they get into training mode.
Other factors to consider - they will probably come out of the sale with shins from breezing the undertack. They've possibly had been given a form of cortizol steroid to keep the inflamation down for the sale - 3 days later you see what you've got. In any case, The trainer may recommend a blister or pinfire as the horse will be off 60 days anyhow.
First month - day rate - 33 x30 = 990.00
Vet pinfire 250.00
meds 45.00
around 1300.00 not too bad
expect the same for the 2nd month and then training untill Sept.(if you're lucky) I'd say 1 out of 5 get to the track by then.
2nd month - day rate 990.00
suplements 45.00
Farrier (2 shoes) 70.00
2nd month 1105.00
3-6 months - day rate - 48.00x30 = 1440
suplements 45
vet check 50
farrier 70
4months @ 1605.00 = 6420
Now your ready for shipping to the track. depending on transport ( I use a company that ships in 10x12 containers rather than a typical horse trailer as it is MUCH less stressful and they can lay down if they want to) your looking at around 1300.00 to get to NY from Ocala
1st month at the track - Day rate 80x30 2400.00
Transportation 1300.00
Vet and shoes (all 4 feet this time!) 400.00
1st month at the track 4100.00
Horse progresses along nicely,continues to grow and build endurance, and earns it's gate card... You are ready to go for the First week of BEL
2nd month at the track DR - 2400.00
shoes 135.00
meds and sups (lasix, etc) 85.00
2nd month trackside 2620.00
So add it up:
the horse cost 50,000, but your sales expenses were 8,000.
your 1st 2 months training were 2,405
months 3-6 were 6,420
1st month trackside including shipping 4,100
2nd month trackside 2,620
So you've got 23,545 of expenses IN ADDITION to the 50,000 sale price.. that you've spent before you see an opportunity for a check.
And this is a great case scenario. If the horse injurse itself in training or there are development delays, (which is the case about 80% of the time) get ready to shell out more.