Postby da hossman » Wed Mar 03, 2010 7:35 am
Hi Susan - You have hit on a sales strategy a bit more common at the 2 year old sales than eslewhere - set the reserve at the price you want for the horse. Many horses are bought "at the barn" after going through the ring as RNA's. Rarely can you sell a horse at the barn for more than what it RNA'ed for (it happens but not often), in fact more of the "at the barn" sales are for a tick less than the RNA price.
Sales company are beginning to report "at the barn" sales in their sales results. Fasig puts a "PS" (private sale) after the price to indicate the transaction occurred after the horse went through the ring. Keeneland updates its online results within 30 days of the sale to reflect purchases made "at the barn".
As far as discerning real sales from buy backs, run ups from legitimate RNA's, there is no short course available. Experience, knowing the players and their histories, and actually being there and feeling/watching the bidding are the ways to tell what is going on. People think agents are worthwhile for their ability to select good athletes - I would argue that equally important is their ability to "clock" the competition, their knowledge of the various players, who they trust and who they do not, etc. There are so many intangibles to this game that an outsider is truly at a great disadvantage.
if you are trying to learn more, go to as many sales as you can, shadow as many people as you can. Run cards for a consignor and learn who the players are and their likes, dislikes, tendencies, purchasing ranges, etc. Sit with experienced people as they bid. Inspect horses with experienced people. Read the results and compare results with your own notes in the catalog. There is no substitute for being there.
A difference of opinion is what makes horse racing and missionaries.
Will Rogers