A racehorse may be purchased in several ways. There are advantages and disadvantages associated with each approach. Regardless of the approach taken, the team, whether it is you and your trainer or you and a group of advisors must work together, utilizing each member's skills in devising a strategy for acquiring your equine assets.

Public Auction

The auction purchase process can be separated into three stages: before, during and after. Each phase is dependent on the other.

·         Before the Auction: Preliminary Work

·         During the Auction: Duties at the Sale

·         After the Auction: Post-Sale Procedures

Claiming

Claiming races constitute the majority of Thoroughbred races. Each horse entered in such a race is subject to sale, or claim, at the value stated in the conditions of the race. However, all purse money earned is the property of the person in whose name the horse started.

The primary advantage to claiming is that it offers immediate racing action.

Steps to claiming a horse:

·         Review the jurisdiction's claiming rules.

·         Complete the paperwork.

·         Take possession of the horse.

Partnerships

·         Investing With an Established Partnership

·         Other Options

Private Sale

While auctions and claims are the two most popular methods of acquiring horses, they may also be purchased privately. Private transactions offer the buyer value and opportunity as well as the option of a pre-purchase exam. Advisors play a vital role in finding, selecting and inspecting prospects.

Steps to a Private Sale:

·         Make an inquiry regarding purchase opportunities.

·         Inspect the horse.

·         Negotiate price.

·         Present a Written Agreement of Sale and a Bill of Sale.