PeteMo wrote:One of the "top" partnership outfits is now in many cases selling home breds and coming up with a "fair price" based on what other yearlings etc by that sire have sold for. Does not mean the horse they are selling cant run, but to pay a high price based on that methodology seems dicey at best. Another bigger name syndicate for awhile was doing a yearling to 2 year old pinhook type thing, they would "buy back"the horses that did not "meet fair value" after previewing poorly at the undertack shows, but they would buy them back at an level to bail out the pinhook then resell the horse as a racehorse prospect to another set of investors at yet another vastly elevated price point. Then one of my favorite things about all of them is they all absolutely LOVE everyhorse they are selling. Telling you with a 2 year old, 6 months in advance to get ready to be in the winners circle at Del Mar, Saratoga etc. Its so pathetic listening to some of their garbage. If the horse was even 1/10th as good as the hype they would want to maybe keep 10% for themselves, most of these groups will never have a dollar of their own money in the horse by the time they step in the gate for the first time. As i said earlier though, how do you get started on your own for most people. Rome was with LRF for awhile early on, he got lucky and got out before it turned him off on the game completely.
In all seriousness I appreciate your experience. Racing has really changed since I had a small piece of a stable back in the late 70's early 80's in Chicago.Don't get me wrong a few jaggoffs tried to bamboozle my family and they paid a dear price for it. I didn't know what pinhook or buyback,etc meant till our own beloved Rose explained it to me. Back in my ownership days breeding was not that big of deal like it is today. About 10-12 years ago I went to dinner with the crew from Class Racing Stable. It felt like I was buying a timeshare in Vegas. I despise time shares so it was a no brainer for me. The guys that owned Class were smart,savvy and they knew what buttons to push. I will say these outfits are very good at wetting your whistle. I respectfully declined their offer
and wish them well with their racing stable.You know what,its the American way. If they are successful at it,good for them. Continue to share your knowledge and experience with the forum. Thanks and Godpseed.