Bloodstock Agents
Bloodstock agents are people who are paid a commission to buy and
sell horses. A bloodstock agent assists owners in the evaluation of
horses, based upon pedigree and conformation, for the purpose of
buying and selling at public auction or private sales. Generally
speaking, they may also facilitate the purchase process, including
establishing credit with the sales company, finding an equine
veterinarian and selecting an appropriate boarding facility.
It should come as no surprise that selecting the right bloodstock
agent is not always as easy as it seems. However, as with any
important business decision, exercise good judgment and sound
reasoning, and above all, trust your instincts.
TOBA recommends that every owner consider these tips in making his
or her selection:
Consult industry-accepted reference materials.
The TOBA Membership Directory and The Source for
International Racing and Breeding, published by The Blood-Horse,
Inc., provides the names and addresses of many bloodstock agents.
Solicit recommendations from reputable industry insiders.
Ask other participants in the industry, including sales company
executives, owners, trainers, racing officials or investigators,
their recommendations and endorsements.
Contact local horsemen's organizations for recommendations of
reputable agents.
Ask others within the industry about the reputation and character of
your candidates. Remember, there will be a reluctance on the part of
many to make less than complimentary remarks about an individual.
Instead, they may refer you to someone else or offer an evasive
answer.
Conduct actual interviews of potential bloodstock agent
candidates.
Evaluate the candidates as you would any other financial advisor.
Discuss compensation.
Agents typically will charge a small commission (i.e., 5%) for the
purchase or sale of a horse. Obtain assurances that your agent will
fully disclose all commissions for every transaction. Determine if
the agent regularly buys from the same consignor. This may evidence
a good working relationship, and it should be discussed openly and
frankly with your agent.
Request references.
Review their past purchases with the references. Have the horses
been successful? Does this agent have experience buying within your
price range?
Establish guidelines to resolve potential disagreements.
Above all, recognize it is your investment, your money and
ultimately your horse. Retain the final say.
Need help selecting your advisors? Visit
www.theracinggame.com
and fill out an Advisor Request Form.
