Catalogue Review
Obtain and review the auction catalogue, available weeks before the auction, for essential information about the horses.
Budget Planning
Set a budget but be flexible; be prepared to exceed it slightly to secure a desired horse. For example, if budgeting $1 million, have an extra $100,000 available.
Narrowing Choices
Determine the type of horse needed (sprinter, stayer, or in-between) by evaluating the pedigrees. Focus on the lineage, ensuring both the sire and dam's sire match the desired traits. Mixed traits can produce unpredictable results.
Consultation with Trainers
Consult with trainers, who often have preferences based on successful experiences with specific sires and dams.
Pre-Auction Inspection
Arrive a few days early to inspect the horses personally, noting their physical traits and health indicators. A trainer’s expertise can be invaluable here.
Bidding Strategy:
Stay composed during bidding to avoid revealing enthusiasm, which can drive up prices. Slow down bidding as you approach your limit and decide whether to bid once more if other bidders slow down.
Post-Purchase Steps:
Insure the horse immediately, as previous policies lapse upon sale. Ensure a vet check is performed before finalizing payment, and consider getting X-rays to check for potential health issues.
Buying a horse at auction involves careful preparation, budgeting flexibility, thorough inspection, strategic bidding, and post-purchase due diligence. Consulting experts and utilizing veterinary checks are critical to making informed decisions.
