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Originally Posted by Scav
Not to burst any bubble, a perfect example of why not to get involved with a guy like McPeek is right here.
In his Private Offerings section, he has a 2008 Officer yearling filly available for 15k for 20%. That would be 75k for 100% of said filly. But he is keeping 20% of the filly, time to ask why?
Low and behold, that filly was bought in September for 50k, Hip# 2134. I'm sorry but within 45 days, she didn't jump 50% in value because she was eating Magdelena grass....
This would mean that he is selling 80% of the horse for 60k, so he is keeping 20% of the horse plus pocketing 10k.
Thats a great gig if you can get it to work. Knowing this, I would question every single invoice he ever sent.
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You know he's not the only guy doing this right? The buyer should be doing their homework and if they feel the results are worth the mark-up so be it.
Personally I'd rather buy a horse for $75K, knowing McPeek is making out on the horse than buying a horse out-right at an auction for $200K from a guy who doesn't have McPeek's record of buying at the sales but that is just me.