Kenwood Racing Taste of Thoroughbred Ownership Package #38
A lot of time and money invested at OBS April and Fasig-Tipton May sales for two horses, but we got great value with both and we think they’ll be worth it! We did our homework and have two fillies we are thrilled to have in our barn. Both sales were tough to buy at (see articles below) and we ended up with one really nice horse from each as we were unwilling to either overpay or ‘settle’. Better a smaller group of quality horses at the right price than a larger group of lesser quality or a group of overpriced horses when we are investing our own and your money.
Two great fillies together at one great price for our final two year old group of 2017). As always, with a one-time payment and NO future bills ever! Here’s a brief description of the horses in Kenwood Racing group 38
HIP #303 (Sky Mesa – Charm Away) is a really good-looking filly by Sky Mesa, the sire of over 60 stakes winners and three champions. She is a FULL sister to Sapphine Sky, a filly who earned over $325,000, winning stakes at Saratoga, Belmont and Aqueduct in a long, sound career. She worked in a quick 10.2, galloped out in a very quick 22.1, did it easily with speed to spare and is really good looking to boot. She appears quite advanced in her training so we expect to see her race this summer. While there are never guarantees with any horse, when a full sister won multiple stakes in New York and you have a really good-looking filly who worked and galloped out quick, there’s reason for a lot of confidence. Click here to view her catalog page and undertack video.
Thanks Mom, HIP #1141, (Majestic Warrior – Sweet Little Lion)
After three days of strike outs at OBS in April, we got a mind blowing bargain at the very end of the sale with the great name of Thanks Mom. Note we had 4 horses we loved at this sale, all very comparable in our ratings; Hip #155 brought $105,000, Hip #551 bought $72,000, Hip #849 brought $85,000, and Thanks Mom brought $30,000. This filly is by Majestic Warrior, a proven sire of 15 stakes winners and 2 champions, out of a young stakes winning mare, and she worked a very quick 10.1 at the sale. She’s a Florida bred eligible for bonus purses against restricted competition in maiden races at Gulfstream Park (remember, plans as to trainers, races, tracks, etc. are always subject to change with all horses!). Click here to view her catalog page and undertack video.
Every horse costs more than just the sale price of the horse itself. All serious buyers, ourselves included, don’t just show up and bid serious money without the proper research. We spend thousands of dollars on extensive pre-sale vet work, which many times reveals a significant concern that keeps us from bidding on a horse that looks good on paper and probably will never make it to the races (there’s a reason 100% of the two year olds we’ve purchased at these sales the last 7 years have run and over 90% have won). We pay for extensive pedigree research tools, plus almost $1,000 a day to our private clocker, who times the workouts and gallop out times and takes extensive written notes on every single horse in the sale (again, all serious buyers do this, it’s essential information, although it’s shocking how many uneducated people don’t)! The pricing below includes all this, plus our one-time management fee that covers everything from overhead to box seats, photos, trophies, parties, free admissions, etc. Our program offers a unique in the industry one-time payment; NO future bills or expenses for our co-owners ever! We pay all the training, vet, vanning etc. bills each month upfront (app. $3,000 a month) and if the horse is a total loss (it happens now and then - to everyone!), we eat your share of these bills, which can cost us tens of thousands of dollars on occasion.
Our goal in creating the Taste of Thoroughbred Ownership ™ program was to change the way thoroughbred syndicates typically work; no games, no gimmicks, no hidden fees or markups. An affordable one-time payment for a first-class ownership experience. Your response to this program speaks for itself! As we approach our 100th individual co-owner we’d like to thank you for your support. We promise no matter how much we grow never to forget our commitment to offer our co-owners the best value in the business!
Group #38; A 5% (4.99%) interest in HIP #303 (Sky Mesa – Charm Away) and Thanks Mom, HIP #1141 (Majestic Warrior – Sweet Little Lion) is $6,400.00.
As mentioned above, (unlike with syndicates) these are one-time payments; there are no additional funds to be paid by the purchaser at any time for any reason.
Once all of the horses in a group have been sold/retired, Kenwood will provide each purchaser with an accounting of income and expenses, along with payment for the value of their interest according to the terms of our management agreement. All purchasers sign a Thoroughbred Racehorse Management Agreement, including a Bill of Sale and a letter of interest page. The above description is just an overview, those are the legal documents that spell out specific terms and conditions, which must be reviewed with your attorney, accountant and other advisors. This is not an offer to sell any interest or any horse! Thoroughbred racing is not for everyone, and we only work with a limited number of Co-Owners. If you think one of these packages might be of interest to you, please review all documents fully and carefully with your advisors!
It is important to remember that racehorses, while offering great potential, also involve considerable risk. There are literally thousands of horses with excellent pedigrees and conformation, some purchased for hundreds of thousands or even millions of dollars, which never race, never win, and/or do not earn back their purchase prices due to a variety of reasons. This is especially the case with young, unraced horses. That’s why we market our program first and foremost as entertainment. You should use money you would otherwise spend for season tickets to a sports event or a concert or membership in a golf or tennis club that you would never expect to see returned! Any horse’s performance and value can change dramatically with a single winning race or bad step. If you are looking for predictability and security, the racing game is not for you!
Curlin Colt Paces Midlantic Finale
Tuesday, May 23, 2017 |
Hip 388 | Tibor Szlavik
By Jessica Martini
The Fasig-Tipton Midlantic 2-Year-Olds in Training Sale concluded Tuesday in Timonium with a frenetic session of selling led by a sales record-setting $1.5-million son of Curlin. The sale topper was one of four to bring over $700,000 on a day which saw solid bidding throughout all segments of the market.
“Obviously, today was a very, very strong session punctuated by some special horses,” said Fasig-Tipton President Boyd Browning, Jr. “We had an idea that there could be some fireworks today based on the way the horses previewed and based on the feedback that some of the consignors were getting over the last few days of pre-sale inspections. It’s always great to set another record, but given the quality of the horses that were on offer today, we were happy, but I don’t think anyone was surprised. Those were a legitimate group of top-quality horses.”
During the session, 168 horses sold for $13,699,500, an average of $76,476 and a median of $33,500. For the two days, 330 horses sold for $25,237,000. The average rose 11.4% to $76,476 and the median rose 9.4% to $35,000.
“I think folks left here optimistic about their purchases, whether they were spending $20,000 or $200,000 or $500,000 and up,” Browning said.
Browning continued, “”That’s one of the strengths of this marketplace and of this sale. There is a diverse group of horses that fit a variety of racing operations from regional markets to the absolute finest in the United States that have the ability to compete anywhere in the upper end in the U.S. or around the world.”
Buyers acknowledged bidding was competitive over the two days in Timonium.
“It’s been really tough,” bloodstock agent Dennis O’Neill admitted. “I told Mr. [Paul] Reddam the other day, it seems like whatever you think the price should be, you need to double it. And if you don’t want to spend that, then we’re not going to buy. That’s just the way it is.”
The buy-back rate Tuesday was a sparkling 14.3%, adding up to a two-day figure of 19.9%.
“More important than the record price, was the RNA rate, which at some point this afternoon was 13%,” Browning commented. “That is so important, overall, for consignors to get some money. Some of those were sold at a loss, but consignors were able to turn their product into cash to give them the opportunity to go to the yearling sales or to replenish their farm. That is one of the keys to our business, to change your product to cash when you go to a horse sale. So it’s very encouraging to see an RNA rate at that level.”
The Midlantic sale produced its first seven-figure transaction two years ago when a filly by Smart Strike sold for $1.25 million. That result was followed up a year ago when a filly by Uncle Mo sold for $1 million. The sales record was eclipsed Tuesday when a son of Curlin (hip 388) attracted a final bid of $1.5 million from trainer Mark Casse, bidding on behalf of John Oxley and Breeze Easy. The juvenile was consigned by Hartley/DeRenzo Thoroughbreds.
“There is no magic to the sales business,” Browning said. “When the consignors provide high-quality product, you’re going to have successful sales. And the most encouraging thing is that the consignors continue to have confidence in this marketplace, they continue to have confidence to bring quality horses here and the buyers now know that there are going to be quality horses on offer the Monday and Tuesday following the Preakness.”
Creative Cause filly tops final day of record breaking Spring Sale
Last Updated: April 28th, 2017
Hip No. 999, a daughter of Creative Cause consigned by Tom McCrocklin, Agent, went to Linda Rice, Agent, for $850,000 to top the fourth and final session of the Ocala Breeders’ Sales Company’s record breaking 2017 Spring Sale of Two-Year-Olds in Training. The chestnut filly, who breezed a quarter in :21 flat at Friday’s Under Tack session, is out of stakes winner Santina Dond, by El Prado (IRE), a half sister to graded stakes winner Patton’s Victory.
Hip No. 1205, a son of Scat Daddy also consigned by Harris Training Center LLC, Agent, was purchased by Narvick International for $400,000. The bay colt, whose eighth on Saturday in :10 flat was co-fastest at the distance, is out of Trusty Lady, by Deputy Minister, and is a half brother to graded stakes placed Trendy Lady…..
For the session, 143 two-year-olds sold for a total of $13,152,200, compared with 165 horses bringing $14,012,000 at the corresponding session last year. The average price was $91,973, up 8% compared to $84,921 in 2016 while the median was $52,000, compared with $50,000 a year ago. The buyback percentage was 23.5%; it was 16.2% a year ago. Fourteen horses sold for $250,000 or more compared with eleven in 2016.
For the entire sale, 678 horses grossed a sale record $61,185,900, compared with 659 youngsters bringing $52,010,500 a year ago. The figure surpasses the previous mark of $56,965,000 set in 2014.
The average price was a sale record $90,245, up 14.3% from $78,923, and surpassing the old mark of $79,068 set in 2015.
The median was a record $48,000, surpassing the old record of $47,000 set a year ago. The buyback percentage was 17%; it was 22.7% a year ago. Sixty horses brought $250,000 or more compared to 40 in 2016,
The overall sale topper was Hip No. 793, a son of Tiznow consigned by Bobby Dodd, Agent, and sold to John F. Moynihan, Agent for M. V. Magnier, for an OBS record $2,450,000. The bay colt, whose eighth in :9 3/5 at Thursday’s Under Tack session was the sale’s co-fastest at the distance, is out of Moonbow, by Distorted Humor, a daughter of stakes winner Storm Beauty.
Next on the OBS agenda is the June Sale of Two-Year-Olds and Horses of Racing Age, beginning Tuesday, June 13.