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Originally Posted by oracle80
Joel I agree with just about everything you say. Its extremely frustrating to be an agent in private sales, attempting to purchase one who has already shown ability on the racetrack, and not be able to get someone to pay 300 grand for a horse who has already shown proven ability, yet see people paying high 6 figures at sales for horses that have almost zero chance of ever earning that much.
I've just never understood that, as hard as I try. I realize that people at yearling sales are buying " dreams" and can fantasize that they just bought the next Smarty Jones(until it debuts of course) but it makes no sense to me and never has.
I wouldn't paint all agents with the same brush. The day that Edmund Gann met Mark Reid was indeed a lucky day for him. Mark buys off the track and purchased medgalia for the neighborhood of 350, and the grade one winning mare You for a pittance, Peace Rules, etc.
Frustration is asking someone if they are interested in a filly who debuts with a solid number and decent pedigree and hearing no, and then seeing them buy a yearling for 800 grand the next week.
I think that painting all agents with the same stroke is unfair. Agents have become specialized in different areas and not all buy at auctions.
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Let me rephrase that - agents AT AUCTION...too many of them are in cahoots with consignors and it is simply a matter of running up as much money as possible between the consignors and agents and then chopping it all up at the end of the day - end result: Consignors and Agnets are overpaid for their product and the owner gets his horse paying way more than it was worth......If I would have journaled everytime I have seen this behavior at sales or heard of it first hand, I would probably have a pretty significant binder....damn shame...
