Auction price designation

[Cholly]

Maybe somebody more familiar with horse auctions can help with these ?

Slot Play, running in the 7th at BEL today, was bred by Sovereign Stable. According to the pp's he was sold at auction as a yearling for $50K. But today he is still owned by his breeder, and in all previous starts has shown to be owned by Sovereign Stable.

If a horse is entered in auction but does not achieve their reserve, are they still shown in the pp's as having been sold? If this is the case here, would $50K have been the highest bid or the horse's reserve?

Could he actually have achieved his reserve, but Sovereign bid $50K to acquire him? (not likely, since they would gain nothing but still be out auction fees and expenses).

Or do these facts on the pp indicate he was sold for $50K to a different owner, but before he ever raced Sovereign Stable reacquired the horse?

[Rise Over Run]

Here's the results summary of the Fasig Tipton NY Bred Auction in August 2011; he's Hip #229. Matthew Gatsas runs Sovereign, so not exactly sure what happened here. Maybe Sovereign isn't the actual breeder?

http://www.fasigtipton.com/ci/results/view/2011/Saratoga-NY-Bred-Preferred-Yearlings

Edit: Sovereign owns the dam, Sweet Vision, so they probably bred Slot Play.

[lamboguy]

I know GATSAS well, he is SOVEREIGN STABLE. they are an outfit that syndicates race horses.

[onefast99]

Buy back to protect value. Common at every auction. Sometimes the auction company will cut deals so the fees are reduced.

[magwell]

Lot of times the horse has a problem and they are "turned back" not sure if this was the case here

[davew]

Sometimes animals in a syndicate or partnership have different ownership percentages. If one or more owners want to cash out and they can not agree on animals value, they run it through an auction where it gets sold to a new owner or a new 'mixture of owners' with the same general syndicate or partnership. It can get more complicated if sire breeding fees are waived for some percentage of offspring.

I have no idea if any of this applies to your question on this horse or syndicate.

[Cholly]

All of the above answers shed some light on the various scenarios that may have occurred--Thanks for your replies. I'm taking the net answer that at the time of sale,maybe and only maybe, someone might have considered the horse worth $50K. If he's north of 14-1 today, I'll consider him worth a fiver.

[Saratoga_Mike]

All of the above answers shed some light on the various scenarios that may have occurred--Thanks for your replies. I'm taking the net answer that at the time of sale,maybe and only maybe, someone might have considered the horse worth $50K. If he's north of 14-1 today, I'll consider him worth a fiver.

I bought a horse about 10 yrs ago privately out of the Ocala sale after she was an RNA (did not hit the reserve). Neither the amount I privately purchased her for or the RNA amount was subsequently published in the DRF, which I believe was your question. I can't say that hasn't changed in the past 10 yrs, though.

[onefast99]

I bought a horse about 10 yrs ago privately out of the Ocala sale after she was an RNA (did not hit the reserve). Neither the amount I privately purchased her for or the RNA amount was subsequently published in the DRF, which I believe was your question. I can't say that hasn't changed in the past 10 yrs, though.
I purchased one from a dispersal sale and that number shows up on the pp's in the DRF every time we race. You can always send that information to the horse registry with proof of the amount you paid and it will be published thereafter.

[cordep17]

If you win an auction of a horse, but it turns out you did not hit the reserve, do you have the option to either pass on the horse or buy him for exactly the reserve? That would make sense to me, but I haven't found an answer yet.

[magwell]

If you win an auction of a horse, but it turns out you did not hit the reserve, do you have the option to either pass on the horse or buy him for exactly the reserve? That would make sense to me, but I haven't found an answer yet. If the horse doesn't go over the reserve price its not sold its RNA aka (reserve not attained) goes back to the owner.......

[onefast99]

If you win an auction of a horse, but it turns out you did not hit the reserve, do you have the option to either pass on the horse or buy him for exactly the reserve? That would make sense to me, but I haven't found an answer yet.
Thats how the behind the sales pen deals are worked out, if you were the highest bidder and the reserve wasn't met you didn't win anything.