Welcome
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There’s nothing like owning a racehorse.
Owning a thoroughbred racehorse is likely to be one of the most exciting and exhilarating experiences you will enjoy during your life.
Whether you’re buying your first racehorse, want to find a trainer near you, or are looking for general information, Gavelhouse is the right place.
Racehorse ownership is no longer reserved for the elite.
It has never been easier to get involved in the action, whether alone or with a group of friends.
There’s the fun of buying your horse, choosing your colours, watching your horse gallop in the early morning light (and rain!), and, of course, the thrill and anticipation of being in the mounting yard before and after a race.
Whether you win or lose, the action is electrifying – it’s second to none – and you’re right in the thick of it.
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Getting Started
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Types of Ownership
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One of the great things about racehorse ownership is that there are different types of options available depending on budget and the level of involvement you are looking for.
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Individual Ownership
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Individual ownership is exactly that. The horse has only one owner who covers all costs, makes all the decisions and gets to enjoy all the rewards. This type of ownership, obviously, involves the highest individual cost, but also means you call the shots.
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Partnerships
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A partnership is the most common form of ownership. It provides the partners with many advantages, such as the sharing of costs - and the fun. Partnerships are limited to between two and ten people. They can be formed between anyone - family, friends, work mates, sports teams, whoever.
In most cases it requires one enthusiastic senior partner to liaise directly with the trainer. It's that person's role to make sure all the partners are kept up to date with the preparation and progress of your horse. When there are more than four partners, under the Rules of Racing, one person must be appointed as the Racing Manager.
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Syndicates
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Syndicates are another common form of multiple person-ownership. Syndicates and Partnerships have many similarities although syndicates are registered differently, and operate under a different set of rules defined in the Rules of Racing.
Syndicates must appoint an official Syndicate Manager who is then authorised to control the syndicate. The Syndicate Manager is responsible for communication between the syndicate members and the trainer, and accounting functions. Their role is vital to the enjoyment members derive from being involved.
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Leasing
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This is an option if you don't wish to take on the full expense of ownership straight away. You can lease a horse from an existing owner or breeder, during which time the horse will run in your name. Under such an agreement, you meet the training fees and associated costs and receive prize money won by the horse in return for a rental to the owner (commonly one third of prize money).
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Choosing a Trainer
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Once you have decided that you want to get involved in racehorse ownership, you will need to find a trainer or bloodstock agent as an adviser. The quality of advice that you receive at this stage is likely to have a major influence on your future success and it is therefore important that you take your time choosing your trainer or bloodstock agent.
When you contact a trainer, there are several basic questions to which you will need answers. Most trainers are happy to be a part of the selection process and will offer sound advice, free of charge, providing they are nominated to train the horse.
Whilst looking for a suitable trainer, you will notice that fees will vary according to the reputation of the trainer, the location and the facilities available. However always remember that getting along with your trainer is a very important part of the thrill of ownership.
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Buying a Horse
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Once a trainer or bloodstock agent has been chosen, they will analyse any upcoming sales catalogue to look out for horses that they feel have potential and lie within your price range. They may also look out for potential private purchases that could be suitable. They will then produce a short list to discuss with you and should you decide to go ahead, they would organise a veterinary examination of the horse that you hope to purchase.
You will find the value, quality and choice of bloodstock available at leading sales companies is unrivalled and graduates from these sales are beginning to excel on the world-wide stage. Each sales house has strict guidelines to protect buyers, which are constantly updated to reflect changes within the industry. It is also possible to buy a horse privately, or you can purchase a share in a racehorse from a racehorse syndicator or bloodstock agent by searching on-line through Gavelhouse.
If you buy a racehorse you will then have to register as an owner. You will have the fun of choosing your own personal colours to be made up into silks for your jockey to wear and may also have to decide on a partnership name. If you buy an unnamed horse you may also have the challenge of naming it. All of these activities are part of the experience of becoming a racehorse owner.
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Costs
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Racing costs depend on the type of ownership you choose.
Training fees differ greatly across the country depending on whether your horse is based with a leading trainer in the metropolitan area or a country based trainer.
As a guideline, based on 100% ownership, a fee of A$25,000p.a would normally cover costs for a leading city trainer, whilst a fee of A$15,000p.a would usually cover costs for licensed trainers in most country areas of Australia. In New Zealand, a fee of NZ$20,000p.a - NZ$25,000p.a would normally cover costs for a leading trainer.
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General Advice for Buyers
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Here at Gavelhouse the contact details of licensed trainers, bloodstock agents and syndicators are all people who can assist you with getting started and can answer your queries and put you “lengths ahead of the field”…Good Luck!
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