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#61
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I feel the exact same way. |
#62
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#63
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Sales Companies need to understand that our market would be healthier in the LONG TERM if we rid the industry of this type of behavior because more new clients would enter the game and there would be more cash at the sales, which would in-turn be more profitbale for the Sales Companies....but nobody looks at the long term in this business....that is also a big downfall of this industry IMO..... |
#64
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![]() The sales companies are tentative to "take sides" if you will because of exactly what you just said, Joel. I agree.
Why piss off some of your biggest clients when you can just look the other way and write in clauses in your sales agreements excusing you from all liability... Someone does need to come to the forefront and speak up and do exactly that... Take a side. The right side. It would seem that Keeneland would get the balls to do this sometime in the near future. |
#65
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This isn't a secret. That's what a reserve is. If a seller tells the sales company to put a $300,000 reserve on a horse, the sales company is not allowed to sell the horse for less than $300,000. So if someone bids $200,000 and there are no other bids, the sales company has to bid $210,000. If the buyer then bids $220,000, then the sales company has to bid $230,000. They have to do this until the $300,000 reserve is met. If the sales company bids $230,000 and that is the final bid, then the horse will be listed in the results as $230,000 RNA. RNA means "reserve not attained". In a case like that, if you are a buyer you can go to the consignor after the sale and ask him how much he wants for the horse. We have bought a lot of horses like this. If we suspect that we are bidding aginst the sales company, we would stop bidding immediately and try to buy the horse after the sale. Last edited by Rupert Pupkin : 09-08-2006 at 04:40 PM. |
#66
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#67
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#68
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#69
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Anyone who spends $1 million on something that he knows nothing about ... ... either has lots of millions ... or is a complete chump. The scheming trainers and consignors don't put a gun to anyone's head ... the chumps do these things voluntarily. If you pay $100 for something ... then see it selling for $60 everywhere else ... is the person who sold it to you a thief ... or is it your fault for not being diligent? |
#70
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#71
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#72
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#73
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![]() "Value" in a unproven racing prospect is about the most subjective thing on the planet.
A horse that sells for a million in one sale, might be worth $75,000 in another sale. The trust is placed with agents to see the best value and know the worth of what they are really buying, and get it for the cheapest price possible for their client in my opinion. I could be dead wrong, as always. |
#74
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#75
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__________________
Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln |
#76
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And an accountant can't play with numbers ... if you require him to give you regular accountings. If your head is up your butt ... that's as much your fault as his. Let's face it ... there is no known value or price for any race horse ... one man's million-dollar horse is another man's nag. How can anyone say, "The horse was only worth $100,000 ... but I paid $200,000"? Hey ... the horse may really be worth nothing ... or millions. A yearling may never get to the races ... or he could be a champion. A broodmare may be barren ... or she may drop five SWs. A champion race horse can go to stud and be Coaltown (0 SWs from 160 foals) ... or Bold Ruler (24% SWs). The price of anything ... horses, cars, cigarettes, or toothpaste ... is what you're willing to pay for it ... and what someone else is willing to sell it for. If some hustlers take you for a ride ... you let your own greed and/or indifference play you for a chump. However ... this has been a most interesting and informative thread. Thanks to all who contributed ... or almost all. |
#77
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#78
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There are ALOT of cheaters in this game, boys.... ![]() |
#79
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A lot of "eye winking" going on in my opinion. |
#80
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thanks for putting that up there, good to know--and i don't think anyone can ever know too much.
__________________
Books serve to show a man that those original thoughts of his aren't very new at all. Abraham Lincoln |