[QUOTE=csaper58;9009822]
gumtree, the pages on these mares all say “believed to be pregnant”. What if they are not?
The live foal guarantee $$ goes to the mare’s owner?[/QUOTE]
For years the catalog would say “IN-FOAL” on X last cover date. Or NOT IN-FOAL. It may have said Bred to and than Not In-foal.
I think some “newbie” with a bunch of money and didn’t know what they were doing misunderstood the comment and and bought a mare that was not in foal, didn’t listen to Announcements from the auctioneer or something like that. Lawyered up and sued one of the sales companies. Pretty sure it was Keeeneland.
So a lot of the legal languish was changed. So, instead of saying IN FOAL which in all fairness does make a “defining statement”. It was changed to “Believed” which leave it a bit vague for lack of a better way of putting it.
But buyers are put on notice as to the conditions of sale, which are many. Many in favor for the sellers and may in favor for the buyers. IMO not enough in favor for the buyer. But I have been on both ends.
The MOST important condition of sale states, Regardless of what is printed on the catalog page. The “status” of the horse in the ring will be announced by the auctioneers.
The page may say in foal but that was when the mare was entered in the sale months before. All consignors/owners will check the preg status before days before shipping. Not once it gets to the sale.
Because if the mare was bred on a PURCHASED stud fee contract that gives Live Foal Stands and Nurses, LFSN.
The “live foal guarantee” becomes null and void once the mare steps off the van onto the sales grounds. Unless other arrangements have been made with the stallion owner.
The stud fee must be paid and the stallion service certificate be released to the Jockey Club for the mare to be able to go through the ring/sold.
The buyer gets no “live foal guarantee” unless a “side deal” was made before the sale with the seller. If the mare does not sell, an RNA the owner/breeder will be “sh*t out of luck” if she aborts and or loses the foal for any reason. This all depends on “relationships” with the stallion farm. Another reason to use a Bloodstock Agent that has some “pull” when buying seasons. \
So that answers your second question. If the mare aborts as she is walking out of the ring. The buyer owns an “empty” mare.
When buying fillies, maiden mares (in the TB industry a filly is a female horse under 5 or a mare if she is in foal regardless of age. A mare is 5 and over, regardless if she is a “broodmare” or still racing. Colts are under the age of 5. Horses 5 and older are called “horses”. A stallion is a horse that is used for breeding only. A gelding is a gelding regardless of age).
If the catalog page says/states selling as “racing or broodmare prospect”. The means the seller “guarantees” that the selling horse meets certain conditions of sale as to it “soundness” for racing and or for breeding. The racing end of this “guarantee” is pretty broad and gives the buyer a number or reasons to rescind the sale after purchase. Within a certain time period, basically being vetted for racing before the horse leaves the sales grounds.
But, the sellers can and do change their mind. The can have it “announced” that the filly/mare is selling as a “broodmare prospect only”. So the selling horse “sells” with no “warranty” under the condition of sale as to its “soundness” for racing.
A bit of a “bate and switch” selling ploy. Alls fair in love and war.
It is MOST important to listen to any and ALL announcements from the auctioneer after the horse is walked into the ring and before the bidding starts. Especially when “shooting from the hip” and buying “out of the back”. Ask me how I know.
I had a so called “client” with very deep pocks but a cheap SOB. Though he learned/knew all he needed to know and not pay in the grand scheme of things chump change consultation fees to a Bloodstock Agent.
Had me running around inspecting mares left and right. Working my ass off. We meet up and he says he doesn’t need me anymore I just bought one. “Stole” her for XXXX amount.(“shooting from the hip”) I said to him yea, she would have been a steal if she was in foal. He had that “deer in the headlights looks” what do you mean?
I said you didn’t listen to the announcement did you? If you had bothered to call me, (you know because cell phones work really well at Keeneland, they installed “extra capacity”) before she went into the ring I would have told you she was barren. But than you would have had to pay me X commission.
MANY thousand less than what he over paid. The seller knew he was a “sucker”. Again “all"s fair in love and war”.
Good Bloodstock agents will protect their clients far more than screw them. But I have been “screwed” by many. Again “all’s fair in love and war” unfortunately. LOL.
I can tell you this having grown up in both the TB industry and the “sport, pleasure horse” side of things. The TB industry/business is FAR more on the “up and up” than the latter. FAR MORE.
On the business end of things, the care, feeding, sales and training of. I could spend every waking moment commenting on the various “other” threads on the COTH forum dispelling “myths” and “naivety”. No snark intended. I grew up and live in the real world of horses. And travel in the company of the same. Caveat emptor
).