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I have been to Hexham today and watched the auction after the selling hurdle. The bidding was between a guy at the course and the current owner who was on the phone to the trainer (I presume).
I understand that if the guy at the course won the auction he would have had to pay the price he bid, but the current owner won the auction - I think it was 7500 guineas. As he bought his own horse effectively, I presume that did not cost him anything or is there a percentage that goes in an auction fee?
Can someone help cos I am a bit confused. Sorry if its a daft question!
I understand that if the guy at the course won the auction he would have had to pay the price he bid, but the current owner won the auction - I think it was 7500 guineas. As he bought his own horse effectively, I presume that did not cost him anything or is there a percentage that goes in an auction fee?
Can someone help cos I am a bit confused. Sorry if its a daft question!
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10%
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The racecourse take a percentage of the Auction Fee - irrespective of who wins the bidding.
Thus - when you see - 'Bought In' - which means the winning bid came from connections - those connections have to pay the racecourse their percentage. |
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Thanks for that - that's what I thought. So the owner had to pay 750 guineas to keep his own horse. The prize for winning the race was under £2K and 20% of that goes to traner and jockey.
I can't see what the owner wanted to achieve in entering the horse in a seller - or was he hoping for a bid of 10K+ which would surely be unlikely for a horse that has only won Class 5 and 6 races - it was impressive relative to the grade of race though. |
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Thank you - all understood now.
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'corrupt'
[;)] |
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but was the winner gambled on [ by the owner ]
betting winnings are what it's all about in sellers NOT prize money |
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explain Virgin - don't use real names though lol
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Yes he did adge, but not made a fortune at 8/13 or 4/7
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The way that race was set up the owner would have to have been super confident.
TBF the lad that rode the horse kept his cool and did well. Bastard,not Malcolm.[;)] |
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the racecourse gets 50% of the difference from the opening bid (3200 today) to the final bid. Sellers differ in % sometimes and can be readily found in the race conditions.
So todays end bid was 7500 - 3200 = 4300 and then divide that by 2 = 2150 i think it cost the owner to buy it back today. I liked the day they went to run at Bangor before the realised the claiming price for beaten runners was only £3k and they withdrew it i presume for that reason. I think thats how it works anyways  |
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Koo
You would be an asset to any forum [;)] |
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not sure the diet seection would agree
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i'll buy you a burger at newmarket then lol
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i watched the race and the winner was much the best horse the front horse went off far to fast touched 11/8 in running wot a price
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Koo's post reminds me of that old pop song, The day we went to Bangor.
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