Let Her Inspire U

[Cholly]

There are many things about the prices paid for horses that mystify me. Maybe someone can throw light on this one:

The 6th at Belmont had a New York state-bred 2YO filly (Let Her Inspire U) that sold for 500K at auction. How will that ever pay off?

She’d have to turn out to be one of the all time great New York-bred filly/mares to net anywhere near that in purse money. How much value can there be for a state bred broodmare out of a relatively unknown sire Practical Joke? He is out of Into Mischief, so maybe some future upside there but at this point hardly a proven stallion and he currently stands for a paltry 22K.

How much is a proven top-producing NY broodmare worth?

[Spalding No!]

Originally Posted by Cholly

The 6th at Belmont had a New York state-bred 2YO filly (Let Her Inspire U) that sold for 500K at auction. How will that ever pay off?

From this week until early December, NYRA offers multiple stakes races for state bred 2yo fillies with the winner's share cumulatively approaching $300k. Obviously, if she proves to be stakes caliber, there is no law that says she couldn't race in open company, too.

She’d have to turn out to be one of the all time great New York-bred filly/mares to net anywhere near that in purse money.

Bar of Gold earned $1.5 million, was a millionaire before she won the BC FM Sprint at over 60-1, and had only NY-bred stakes wins to her credit up to that point.

Bar of Gold has also already dropped a graded stakes winner from her first foal to race (Coinage).

La Verdad also won over a million dollars, with mostly state bred stakes wins to her credit.

How much value can there be for a state bred broodmare out of a relatively unknown sire Practical Joke? He is out of Into Mischief, so maybe some future upside there but at this point hardly a proven stallion and he currently stands for a paltry 22K.

Practical Joke is one of the top first crop sires in NA. His offspring were also selling like hotcakes at the sales prior to his babies hitting the track. In addition, the $22,500 stud fee is one of the highest for first crop stallions.

As an aside, horses are "out of" their dams and "by" their sires. If a foal came out of Into Mischief it would be pretty painful for him.

How much is a proven top-producing NY broodmare worth?

If she proves to be a top producer, she's unlikely to change hands (and of course, would be worth a lot).

If she proves to be a good racehorse, she will sell for boxcars regardless of what state she was bred in. Dayatthespa, Fleet Indian, Discreet Marq, and I'm sure others sold for millions at the tail end of their racing careers.

All that said, the horse was purchased by China Horse Club who along with several other ownership groups seem to be forming some sort of mega cartel that often partner up presumably to spread the risk around so they can afford to pay ridiculous prices for horses that could easily be duds.

[ranchwest]

I remember a LA-bred colt who just went from track to track winning state-bred stakes races. He won over $300k... in Louisiana!

[lamboguy]

a great horse can come from any state or for that matter any part of the world. TIZ THE LAW won the Belmont stakes a year ago and he was a New York Bred.

the horse certainly has no idea what state he or she is bred in.

[Cholly]

Thanks to all for those insights.

I could counter Spalding’s response by noting his are speculative “ifs” that could possibly lead to profit as opposed to the certainty that the $500,000 has been spent. And after Sunday’s performance the idea that this filly might run the table in those mentioned lucrative state-bred stakes looks pretty far-fetched.

But as for my positing that this was a foolish investment...it’s likely an arbiter would say that who was a fool and who wasn’t was indicated by the fact this Owner has half a million just lying around that he can use for an investment like this, whereas I’ve barely a pot to piss in.

Like the song says,
“Oh, because there ain’t no man
Who got money in his hand
Who got any of that bread
By bein’ slow in the head”