I see that the Eurocommerce horses are all going to auction, including Olympic Champion London, and I was wondering if anyone knew what that means in terms of his “breeding rights”? I was pretty sure that Paul Shockemohel bought those for a big sum right after the Olympics. Am just curious about what happens in an auction sale like this - would the new buyer as owner of the horse automatically gain control of breeding rights? Anyone know? I can’t imagine PS would still have control because then part of the value of the horse would be lost.
There is an old saying in the law: You can’t sell what you don’t have.
So the sellers of the Eurocommerce horses can only sell the interest they own. Not to say that the sellers or the buyers couldn’t make a concurrent deal with PS to buy out the breeding rights, but they are not automatically part of the sale if they are owned by a 3rd party.
Heard a rumor that you have to post a substantial amount before they will even let you bid.
Auction info: https://www.bva-auctions.com/auction/lot/10449
There does seem to be some ownership dispute floating around out there, too…
Namelus R, Zagreb and El Clarimo all appear to be co-owned …
http://horsesinternational.com/breeding/co-owners-protest-eurocommerce-auction/
Reading through the auction rules, you need to deposit 250,000 Euro to register as a bidder. However, I have been hearing rumours that you need to deposit 2.5Milliion to bid on London…
[QUOTE=Lord Helpus;7497706]
There is an old saying in the law: You can’t sell what you don’t have.
So the sellers of the Eurocommerce horses can only sell the interest they own. Not to say that the sellers or the buyers couldn’t make a concurrent deal with PS to buy out the breeding rights, but they are not automatically part of the sale if they are owned by a 3rd party.[/QUOTE]
Thanks Lord Helpus, I was wondering about that. I wouldn’t be surprised to see PS buy him, it would probably be easier to have the stallion in his possession. Although he will probably have to outbid Qatar, who had no qualms about paying $14M for a gelding, so probably won’t flinch at paying more for a better stallion!
I saw the comments about the ownership disputes as well, I guess Dutch laws still allow the auction. It will be interesting to see what unfolds.
