Boner's Equine Exploits

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Boner_18
I didn't have any bets down. 2nd place in a $75k purse is 20%, so she won us $15k. I own 20% of her. Id like to say i took down $3k but it cost us an aweful lot to run in NY..
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What’s the price difference between NY and say another state pal?
 
Could be $250-400 for race day costs anywhere and 500-1000 in NY (mostly workmans comp insurance for our trainer). But were coming from out of state so add another 750-1000 (mostly shipping charges). Plus another 600 for my licenses (but those are good all year, one time charges).
 
But she runs for 75k purse here. 38-55k most other places except KY. But competition is stiff there.
 
@Boner_18 In You I Trust ..

I haven’t won since Funny Cide many years ago at the Kentucky Derby I believe it was and that just a coin flip ..

Back when “The Greek” was alive and kicking .. Really miss those days ..
 
Gamelive should trade in these tokens and get us a horse. @Boner_18 can you facilitate this. I got a shitty horse trailer I can donate to the cause.
 
CASPERWAIT$
You sold for $45,000?
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Yeah. I own 20% of the mare but I pre-sold 10% of the foal at a 30k valuation.
tullamore
Gamelive should trade in these tokens and get us a horse. @Boner_18 can you facilitate this. I got a shitty horse trailer I can donate to the cause.
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Sure. Send my treasurer (plommer) cash and I'll make it happen.


Next up for me is hip 2769 in the same sale, selling Wednesday.
 
Boner_18
Yeah. I own 20% of the mare but I pre-sold 10% of the foal at a 30k valuation.
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So there's a group of people that are buying rights.

What's the game here? Just hope that it sells for more than what they offered you? How do they come up with the valuations?

What was your incentive to selling? Just a time thing where you wanted the money right away? Or was there a risk that 1905 would sell for $20k for example and you thought you might come out ahead?
 
roguejuror
So there's a group of people that are buying rights.

What's the game here? Just hope that it sells for more than what they offered you? How do they come up with the valuations?

What was your incentive to selling? Just a time thing where you wanted the money right away? Or was there a risk that 1905 would sell for $20k for example and you thought you might come out ahead?
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It's all within the ecosystem of the managing partner that I'm involved with, Wasabi. They're breeding and racing horses, I like to buy true partnership shares in each (20% titled ownership). But the organization has hundreds of microshare owners, people who play at the $100-1000 level and these are the folks I sold 10% of my interest in the future foal to.

There's not much game, it's all entertainment/gambling (at least to me). The valuation is made up by the managing partner in consultation with an expert called a bloodstock agent. Its based on both predictable cost (care for the mother and baby) but also unpredictable value (the sexiness of the pedigree and how the foal looks physically) at an anticipated sale, usually when the foal is 6-10mo old. As for my incentive, its a bit of both. I wanted to lay off some of the risk and raise a little cash. I tend to think that they're a bit over valued for the "microshare" owners. I was wrong here, I sold 10% at 39,100 valuation and she sold for 45k.
 
Boner_18
They take anyone i think. Join on up!
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If you buy in for a percentage is there cash calls for when expenses are higher or do just sell more shares for cash and decrease your percentage of ownership?
 
No cash calls for foals or racehorses and no dilution. You can only lose what you put in. The managing partner takes any extra expenses on the chin. He's a great dude and doesnt operate this part of the business motivated solely for profit. However all revenue and expenses are netted out at closing of a foal or racehorse so that microshare owners are only profitable if the horse was profitable.
 
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