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oneonesit View Drop Down
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    Posted: 04 Jun 2021 at 3:47pm
Didn't know where to position this thread - so decided on my own playground

Over the years have often heard whispers / rumours about dodgy practices at the Sales. From unsound horses , to running up bids, to buying & selling back, to never really ever buying , to big studs playing funny buggers, to crime syndicates just laundering money. 

How much truth is there in any of this stuff ? 
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Lindsay Park (amongst others) refuse to release the horses veterinary records when a horses leaves there stable for someone else.  What are they hiding?
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I wondered the same & thought it very poor for the industry, particularly in comparison to Darley & their oft mentioned transparency.
Oneone, in a word "yes" with examples scattered amongst the various threads - good luck if you can find any LOL
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Not unlike buying a house, the vendor or his agent will not inform you of any defects, such as rising damp or termites in neighbourhood.   in Latin, "caveat emptor" , let the buyer beware  .
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I bet the likes of Carioca, Bonjour, and Second Chance ( just off the top of my head ) could fill a book with stories on this subject.  LOL
animals before people.
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Originally posted by Baghdad Bob Baghdad Bob wrote:

Not unlike buying a house, the vendor or his agent will not inform you of any defects, such as rising damp or termites in neighbourhood.   in Latin, "caveat emptor" , let the buyer beware  .
Guilty your honour LOL  When we sold our house a few years back we had an issue with some tiles / pavers getting rising damp / wet which made them look really grotty. So i grabbed a few pot plants & put them around the area - then got the hose out & splashed water everywhere as i i had just watered them every time a potential buyer turned up. Worked a treat LOL 
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By the way TJ - i had you in mind when i started this thread. Bit too close to home maybe !
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Are you saying TJ is dodgy ? Shocked After what you did Thumbs Down
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No Acacia. I wouldn't cast that shadow over a fellow TBV member. Perish the thought. I just thought that TJ being a man about town in the bloodstock game he would have come across plenty of shonks  Thumbs Up  
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Originally posted by oneonesit oneonesit wrote:

Didn't know where to position this thread - so decided on my own playground

Over the years have often heard whispers / rumours about dodgy practices at the Sales. From unsound horses , to running up bids, to buying & selling back, to never really ever buying , to big studs playing funny buggers, to crime syndicates just laundering money. 

How much truth is there in any of this stuff ? 

 a ton of truth.

 I often think I should have blackmailed a few people involved, with what I know.

 But it's pretty common knowledge and probably would only bring in ten bob...

 Ouch
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Richard Callander

– Whispers have been rampant in recent weeks that a major owner in the racing industry has made contact with the Department of Fair Trading regarding bids at horse auctions. The owner has asked Fair Trading to implement similar regulations as to real estate auctions to protect purchasers. I am certainly not saying it happens but if there is a way of protecting the integrity of the industry and sales it would be seen as a positive for all.

‘It is illegal to make dummy bids at an auction. The seller of the property is entitled to have one bid made on their behalf by the auctioneer. When the seller's bid is made the auctioneer must announce it as a vendor bid. If you make dummy bids for the seller, you may be prosecuted and fined up to $55,000'.

– NSW Fair Trading
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God almighty, fancy RC going anywhere near that story, him of all people, self confessed fraudster, it beggars belief.
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The "major owner" is $101 about having rules changed to match those in the Real Estate business.  Not that dummy bids don't happen in that caper despite the Fair Trading caveat. 

And if he's a major owner he should:

a. set an upper dollar limit on those he's interested in and not get sucked into paying overs;
b. well know when horses are being run up (most experienced purchasers can identify such 8 times out of 10); and
c. offer vendors what he's prepared to pay should a horse be passed in, even if it's rather lower than the announced reserve.

And FAT chance Callander's opinions stand for much in the industry.
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SC, if implemented, the sales’ clearance rates would be about 50%.
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Originally posted by Bonjour Bonjour wrote:

God almighty, fancy RC going anywhere near that story, him of all people, self confessed fraudster, it beggars belief.
Amazing!
We agree on something.

Zero self awareness from RC.
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Sorry, but i hope it happens. Sick of seeing certain studs yearlings going for huge money so they can push their new sires values up, then pull the rug from under the industry by selling the stallion after 3 years.
We all know who they are, but hopefully their days are numbered in the sales rings of ridiculous prices
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Those of us who went to the Towong Cup watched a gelding that sold as a yearling for $300k plus (Snitzel x a Frankel mare) who couldn’t run a place in a $10k maiden 🤯🤯

I think Dizzy noted it was last sold online for about $5k.
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From another thread:

One of the oldest tricks in the book.

A colt's worth $1m, and the breeder meets with a noted and well-regarded purchaser or syndicator.  They agree on a sale price of say $1.7m, and the vendor is allowed to buy back in for a percentage of the $1m valuation.  Either that and/or the purchaser receives a kickback from the vendor.  After which the purchaser/syndicator sells shares in the horse at the inflated value.
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Pretty hard getting caught making a dummy bid i would have thought.
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Now they open with a vendors bid, then it's same old, it's been going on since Carbine, it's human nature, it will never ever stop......you can't stop it, it's a DNA thing.
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Are there still Bloodstock Agents out their making a living giving purchase advice to newbies ?

Good gig if you can get it !
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Gotta luv those bloodsuckers, watched one pull up at the sales a few weeks back, biggest car I've ever seen, got out, fitted up with designer everything, someones paying for all that, poor fool them.
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 I'm still not talking. 

 Wink
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Passed in $95k, Reserve $100k
Passed in $145k, Reserve $150
Please don’t get me started. It would be interesting to know how many horses purchased for big sums are already owned by the trainer/syndicator, on a pay after the sales deal?
From personal experience, I am certain a now deceased (a good while back) asked a farm to buy one colt presale. The asking price was $200k, and his accepted offer was $300k. 
The horse was knocked down for $700k. The farm, trainer and sales company all knew. Just not the new owner. Angry
“Gambling has brought our family closer together. We had to move to a smaller house.”
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Don’t tell me, he told prospective purchasers, that he liked it so much, he was going to take a chunk of it personally….
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Originally posted by rusty nails rusty nails wrote:

Don’t tell me, he told prospective purchasers, that he liked it so much, he was going to take a chunk of it personally….
20% LOLLOL
“Gambling has brought our family closer together. We had to move to a smaller house.”
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Why is it a lot of very smart people......who become wealthy in general business......get sucked into the racing game only to leave it with very little skin left on their arse.

Its almost like they leave their business brain back in the office LOL
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Bit like the two up scammers who fleeced mugs for years on the way out

You finally get to win a quid & lose it before getting back to the car / train Ouch

Funny old game 
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Originally posted by oneonesit oneonesit wrote:

Why is it a lot of very smart people......who become wealthy in general business......get sucked into the racing game only to leave it with very little skin left on their arse.

Its almost like they leave their business brain back in the office LOL
Not guilty your honour .
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Originally posted by oneonesit oneonesit wrote:

Bit like the two up scammers who fleeced mugs for years on the way out

You finally get to win a quid & lose it before getting back to the car / train Ouch

Funny old game 
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