Getting help

If you are new to the industry, don't try to buy a horse without seeking advice. Selecting a racehorse is a risk-taking process, thoroughbreds simply don't come with guarantees. What you as a first time owner want to do is give yourself the best chance of buying a winner.

Find an adviser

Probably a bloodstock agent - or perhaps a trainer - who is well respected in the industry and who has a professional approach to his dealings. For advice and assistance, an agent will probably charge you somewhere around 8% of the eventual purchase price. A trainer will not charge you a fee, but would naturally expect to train any purchase.

 
An experienced agent will analyse a sale catalogue for you, bearing in mind your budget and your goals. He or she will then present you with a short list of suitable horses which are expected to fall within your price range, inspect a horse at the sale and arrange for a veterinary inspection of any horse in which you are particularly interested. Paying for sound advice is money well spent when it increases your chances of success.

Insurance

Your thoroughbred is worth insuring. It is important to consult a specialist broker who has a good reputation in equine insurance. For around 4% of its value your horse can be insured for death only. It is not generally possible to acquire insurance for a racehorse against injury or loss of value.

Insurance brokers advertise in thoroughbred publications. The local TBA office can provide a list of specialist companies.