Owning racehorses is one of Australia’s oldest pastimes. But what was once a luxury with no real financial returns has now become a potential goldmine for people from all walks of life.
You’ve likely heard about the unprecedented prizemoney currently on offer in Australia but probably not in these terms:
Number of $1million+ races in 2023 (1 every 4 days)
1 in 57
Number of horses that earned more than $500,000 last season
$$
Prizemoney has almost doubled in the last decade
So, it’s hardly surprising to learn that Australia, despite a population of only 26 million, has more racehorse owners than America, Ireland, France, Japan and Hong Kong combined!
And you don’t have to spend a fortune to achieve greatness in this game.
Indeed, the top 8 sires in Australia last season cost between $62,500 and $260,000 as yearlings. Not bad when you consider some stallion deals can fetch up to $40 million.
With another sales season on our doorstep, beginning with the Magic Millions Gold Coast on Tuesday, it is timely to consider what Proven Thoroughbreds can offer prospective owners.
PROVEN RESULTS
2022 was an unprecedented year of success for Proven Thoroughbreds. Here’s why:
Stakes winners
Stakes placegetters
%
Stakes winners to winners
UNMATCHED VALUE FOR MONEY
Last October we raised our management fee to $9 + GST per 2.5% shareholder which is still around 8 times less than what is charged elsewhere.
Whether you choose to acquire a share through a syndicator or trainer, typically there is a commission or consultancy fee added to the purchase price. In some cases, the percentage can be as high as 12.5%. In 2022, the average commission Proven applied to purchases was 5%.
THE PROVEN GUARANTEE
If injury or illness prevents your horse from racing (outside the initial insurance period), Proven Thoroughbreds will offer a credit of up to $2,500 (depending on purchase price) to be used on your next purchase with us.
ELITE TRAINERS
Our trainers are not only at the top of their game but have been with Proven for many years now. In a time where syndicators are changing trainers more frequently than the seasons, Proven has forged long and successful partnerships with Joe Pride and the O’Dea-Hoysted stable. More recently we have added leading provincial trainer Kerry Parker to our ranks.
Co-trainers Steve O’Dea and Matt Hoysted enjoyed an outstanding season of results in 2021-22 and were awarded the Darby McCarthy Performance of the Year gong.
Joe Pride is currently the third highest earning trainer in New South Wales behind only Chris Waller and James Cummings (Godolphin) despite significantly less starters.
TROPHY ALLOCATION
Unlike other syndicators, Proven does not retain trophies.
For trophies of an advertised value of less than $1500, recipients are randomly selected from the ownership group on a pro-rata share basis, i.e. those with a higher share percentage are more likely to be selected than those with a lower share percentage.
For trophies of an advertised value of $1500 or more, each owner will be entitled to the proceeds of its allocation.
EXPERIENCE MONEY CAN’T BUY
Jamie Walter estimates he has inspected well over 100,000 yearlings since forming Proven Thoroughbreds more than two decades ago.
“I shake my head when I look back on some of the yearlings I purchased when we first started out. But with years of experience and the considerable input of our trainers, I would like to think we’ve been able to enhance our ability to identify future winners. There are subtle aspects of yearling selection that are not necessarily apparent to the eye. Most racing professionals can find a horse with great physical attributes and pedigree but there is a lot more to it than that. It’s an imperfect science because the ‘perfect’ horse does not exist. You have to be able to decipher which flaws are acceptable and which are unacceptable because every horse has a price.”
PEDIGREE UPSIDE
One of the more nuanced aspects of yearling selection is identifying pedigrees with what is commonly referred to as ‘upside’.
In 2022 Proven purchased two fillies whose half siblings subsequently won stakes races, therefore significantly boosting their value.
U S NAVY FLAG x POLYANTHA filly was purchased for NZ$90,000 before the half-sister POLYGON (by HIGHLY RECOMMENDED) won back-to-back Group races including this devastating victory in the Group 2 Royal Stakes (2000m):
ZOUSTAR x TIME AWAITS filly was purchased for $220,000 and is now the half-sister to an unbeaten stakes winning filly called MAGIC TIME (by HELLBENT). Here is a replay of her Listed win at Flemington during the Melbourne Cup carnival.
A huge win to Magic Time (3 f ex Time Awaits by Nicconi) in The Amanda Elliott (Listed, 1400m) gives @yarramanpark's Hellbent (I Am Invincible) his first stakes winner. Passed in at @mmsnippets, she has been retained to race by @Milburn_Creek.pic.twitter.com/TfcR1EE6FE
— ANZ Bloodstock (@anz_news) November 5, 2022
MINIMAL ADMIN
One aspect of the ownership experience our clients appreciate is the management of accounts. Proven pays all suppliers from a dedicated account for each horse so you only ever have to pay into one account for ALL expenses.
In 2023 we will also be introducing an online platform where owners can track their balances and access an archive of past invoices for complete transparency.
There is enough admin for everyone in this day and age so let us take care of it for you!
For the aforementioned reasons, we invite you to share in the ownership experience with Proven Thoroughbreds!
BE THE FIRST TO KNOW ABOUT OUR NEW PURCHASES
Magic Millions 2023 Sale countdown
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