kickbacks alleged in suit

[Rupert Pupkin]

Originally Posted by Thoroughbred Fan

I've got an interesting auction story. A friend of mine, who's father is in the breeding side of the business, wanted to buy a yearling. He wanted something by a freshman sire who he thought would run well at a low cost.

So, he heads up to the auction with his personal trainer acting as agent and finds a very nice filly. Turns out the one the agent/trainer likes was bred by his father. She was consigned through a independent party. Good news for my friend since he can just call and ask if she has had any problems. He does, she hasn't and he bids. He lands her for X dollars. The next day his agent/trainer gets a call from the consignor saying he has someone who'll give 2X dollars for her. Needless to say where was this mystery buyer the day before. My friend tells his father and needless to say the consignor won't be getting anymore business from my friend's father.

These and other shady things happen at sales, especially if one slips through the cracks at a low price. I even know of consignors who have purchased from their own consignment through a third agent if the price was right.

I don't get it. Why would your friend's father be mad at the consignor? The consignor offers him double what he paid for the horse and your friend's father gets mad? I don't get it. What am I missing. there is nothing sinister here. I don't see what the problem is. This type of thing happens all the time, even in real estate. It's not uncommon in real estate for someone to buy a property for $1 million and then get offered $1.1 million a week later.