What’s a Horse Really Worth?

The difference between the price a horse makes as a yearling and then 12 months on when he’s found to be a limited racehorse was highlighted by an interesting winner at Port Macquarie on Monday.

Newcastle trainer Nathan Doyle enjoyed immediate success with two year-old Fastnet Rock gelding Jet Pack, who was able to win a 1200m maiden beating older horses at his first start for his new trainer.

Jet Pack was a $325,000 Magic Millions purchase from the Bhima Thoroughbreds draft for China Horse Club/Newgate Bloodstock/Stonestreet in 2020, but after two sub-standard runs for Peter and Paul Snowden he was re-offered in the 2021 Inglis Digital February (early) Online Sale where Nathan Doyle picked him up for $45,000.

His sale description was honest and accurate.

Description

Jet Pack is an attractive two-year-old gelding by Fastnet Rock and is a full brother to highly credentialed sprinter Kaepernick.

He has had two starts and has not shown the ownership group enough to keep proceeding with him. He has however trialled well in Sydney winning at the Randwick trials.

He is a horse that should improve given more time and will suit country racing.

While the yearling market is what drives service fees and creates demand for elite broodmares as we saw last week at the phenomenally successful Magic Millions Broodmare Sale, the digital sales are where the true worth of actual regular run of the mill racehorses is established.

Sold as weanlings and yearlings, thoroughbreds have the all important ‘dream’ intact, meaning the buyer MAY be taking home a champion racehorse or even better a future champion sire as all of these horses have never been ridden, but at the digital sales for tried horses, the dream element is gone leaving just the reality of a racehorse and what he can win.

Is it any wonder so many country trainers are active at the digital sales given you can pay a fair price for a known commodity, rather than paying overs for a dream.

Better to let the big investors chase the dream and swoop on the value coming out of the flip side.