As we approach the start of the two year old sales season next month, it’s a good time for a little reality check as to what paying top dollar for horses at the sales does and does not buy.

For an illustrative example for just where many of the horses with outstanding pedigrees people pay top dollar for at the sales end up, take a look at the Daily Racing Form for Gulfstream Park on Thursday, February 23^rd.

In the 6^th race we have Expedient, a $260,000 purchase. He’s four years old and making his first start today for trainer Todd Pletcher for $50,000 claiming.

In the same race we have Kabang, by three time leading sire Tapit ($300,000 stud fee). He was a $425,000 purchase, he’s 5 years old now, 13 lifetime starts, no wins, also running for $50,000 claiming.

Also in the same race we have Prominence, a 6 year old maiden making his 8^th lifetime start. He was purchased for $1,100,000 and ran for $20,000 claiming in his last start.

In the 9^th race, Wathnan is a 4 year old by top sire Kitten’s Joy (same sire as our own Authentic Kitten). He was purchased for $650,000 and is making his 4^th start today for $20,000 claiming with no wins. He is also trained by leading trainer Todd Pletcher

Bourbon Commander in the 9^th race is making his 13^th lifetime start for $20,000 claiming. He’s by top sire Curlin ($150,000 stud fee) and was purchased at the OBS April 2014 sale for $310,000

Finally in the 9^th race we have Kitten’s Dilemma, purchased by leading owners Ken & Sarah Ramsey for $190,000. He’s a maiden, also by Kitten’s Joy, making his 6^th career start for claiming $20,000.

Every day at top tracks like Gulfstream, Santa Anita, Belmont, Saratoga, etc. you can find multiple examples just like these. 90% of the best bred, highest-priced horses in the world end up to be claiming horses, those are the facts. About 40% either never win a race, or are bottom level near worthless claimers, like these. Trainer Todd Pletcher has literally a hundred plus of these horses every year. You see the 5-10 famous success stories, you never stop to think about the 100-150 horses like the two examples above. NOT to say Todd is a bad trainer, simply that even a top trainer-owner will have a LOT more duds than successes (ask them!).

Kenwood (and other business-savvy owners) don’t pay crazy prices at sales. If a horse like our Authentic Kitten, by Kitten’s Joy (purchased for $45,000 at OBS in 2016) is a dud it’s a genuine disappointment to all of us, but a LOT less downside then paying $650,000 or $190,000 for the two Kitten’s Joy horses listed above. You CAN have real success (AND even make money!) with horses purchased for reasonable prices. Kenwood (and others) have had many stakes winners over the years that turned out to be profitable because we didn’t overpay for them, but like every owner we’ve had a LOT more near worthless claimers.  That’s the thoroughbred game. Just like with the 100,000 young men who dream of playing in the NBA every year vs. the 50 who actually do, it’s a tough business (but also a very enjoyable one if you understand and can handle the realities of the game).

Syndicates trying to sell you a mark-up product tout dreams. We tell you the facts.

“Better a cold shower of truth than a warm bath of lies”, Robb Levinsky