THE DIFFERENCE BETWEEN THE MOST COMMON FORMS OF RACEHORSE OWNERSHIP

Article by Tony Fleiter BEc., LLB
Principal of Macquarie Legal Practice

Owning and racing thoroughbred racehorses can be highly enjoyable and rewarding, particularly if you are lucky enough to own a horse that progresses to winning races, and if your horse is a fashionably bred colt and just happens to win a Group 1 race, then a stud deal is likely to be available.

But it is also highly speculative, as owners are required to incur racehorses include that the horse may die, or value is diminished as a consequence of the materialisation of an inherent risk, including accident, illness, infertility or sub-fertility, injury, or natural cause, or simply not progress to competing in or winning any races or Prize money.

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Four stakes wins in a day, a Group 1 2YO trifecta, a Group 1 quinella, the season record for 2YO winners, the Number 1 spot on the General, 2YO and 3YO premierships, a new prizemoney record - and it's only the middle of May. 

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An extraordinary fortnight – and 112 years of history – ended in style today when the gavel came down for the last ever time at Newmarket, capping off a remarkable select sales season for Inglis.

Jamie Inglis, company director and the eldest of the fifth-generation family still involved in the company, auctioned the final Lot in emotional scenes in the Newmarket sale ring. (Nervous Nellie - the last horse sold at Newmarket. Sold by Yarraman Park and bought by Bowness Stud for $26,000.)

 It brought to an end a phenomenal period, which included:

*$254 million traded by Inglis since the start of the Classic Yearling Sale

*Among this, there have been 20 $1million Lots, of which only 24 have been sold in Australasia in 2017

*Inglis has sold $156 million worth of yearlings, weanlings, racing and breeding stock at Newmarket since Thursday 30 March

Harry Herbert, Managing Director of Europe's leading syndicator Highclere Racing, was hosting an event in the Jockey Club rooms at Newmarket recently when he noticed a new face sitting at one of the tables.

He made his way over to the lady and introduced himself.

"She was lovely, a good, tough, hard working woman from the north of England," he said. "I'd been speaking to her at length over the phone about a particular horse she was interested in. "I started gently teasing her that it had taken me five half an hour phone calls to get her across the line with the horse and that I considered myself better than that.