Buying Broodmares with Nicoma Bloodstock and Mill Ridge Farm
When you’re exploring the idea of buying a Thoroughbred broodmare, it’s important to have a trusted agent to facilitate every step of the process. A bloodstock agent with experience and expertise is vital. A trusted partner is more than just a facilitator, they’re someone who understands your goals, budgetary constraints and need for a return on your investment.
Benefits of the Mill Ridge Way
Lynn Schiff of Clover Hill Farm in Cincinnati is one example of a Thoroughbred owner who benefits from a close relationship with Mill Ridge Farm. Already established in the industry, she owned six mares and reached out to Mill Ridge, seeking their services. She understood buying and selling broodmares; what she needed was a new consultative strategy. Headley Bell, Managing Partner of Mill Ridge and the primary bloodstock agent of Nicoma Bloodstock said, “We defined a game plan to evaluate her existing broodmares. Deciding which ones to keep, and which ones to sell.”
There is much more to the Mill Ridge Way than “take care of the horse, and the horse will take care of you.” It’s also about working creatively with owners. Together, Headley and Lynn Schiff came up with a plan.
Schiff’s farm is near Cincinnati. She decided to send her mares to Mill Ridge in Lexington, Kentucky, to foal and raise their offspring. The trained staff would get the mare back in foal and she would remain on the farm for ninety days. After that, the mare would be sent back to Ohio where Schiff would care for her until it was time to return to Mill Ridge for foaling.
This process allowed Schiff to enjoy time with the horses on her farm while still benefiting from the expertise of Mill Ridge.
“Schiff bred her third mare to OSCAR PERFORMANCE and bought a share, making her one of 40 owners of OSCAR PERFORMANCE. The mare conceived and produced a foal on March 4, 2020. And at the Saratoga yearling sale in 2021, she sold that foal for $180,000. That filly turned out to be RED CARPET READY, earning over half a million dollars so far, and running in the highest level of races, including winning two Grade 2 races . As we speak, she has won four of six starts,” said Headley.
Red Carpet Ready as a foal at Mill Ridge
Buying a Broodmare
Buying a broodmare with a bloodstock agent involves an intricate decision-making process. It’s a good idea to seek advice from a trusted partner. Like any other investment, it’s possible to buy broodmares at a wide variety of prices.
Bell said, “As one example, we bought three mares, and we were looking for some value based on the pedigree or the physical presentation. The idea is that we could look at a couple of foals and see how the mare was producing and whether or not she deserved to stay in the broodmare band. That's an important part of the process.” We were able to buy WILD SILK, the mother of RED CARPET READY for $70k and she has proved a wonderful investment.
It is a long-term process, and at some point, you may consider buying a mare in foal.
Sitting Down with Nicoma Bloodstock
Nicoma Bloodstock is the consulting arm of Mill Ridge Farm. A full-service consulting agency, they buy broodmares and yearlings and consult for appraisals, matings, and other services within the industry. A few things they will cover with clients include:
Goals
Buyer’s budget
Purchase of the mare along with the foal she’ll be carrying
Commercial breeding only vs. intent to race
Boarding and raising the offspring
Whether to insure
It’s imperative, especially for the inexperienced, to have a trusted advisor and guide throughout this process. Nicoma has helped their clients fulfill their dreams including mating Horse of the Year HAVRE DE GRACE and BRICKS AND MORTAR as well as Kentucky Derby winners BARBARO and STREET SENSE.
Street Sense winning the 2007 Kentucky Derby
The Sale
The sale is one of the most exciting steps in the process, but also one of the most grueling. It’s all about the details. About the sale, Bell said, “You keep up with the market. Pedigrees, performance, and statistics all go into your decision-making the same as it would for a stockbroker.”
In buying a mare, you’re not looking for the same type of athlete you would in a yearling, but rather a lineage of athletic ability that could determine what this mare can produce for you in the future. You’re evaluating her as a producer and her offspring as a sales or racehorse.
Foaling
Once you have purchased your mare, keep the foaling cycle forefront of your preparations.
Foal gestation is 11 months.
Every broodmare will have a “last date that she was bred” so you can plan when she will foal, about 11 months after. (For example: If March 1 is the last breeding date, she is likely due February 1.)
Foals weigh generally 125 pounds and will nurse an hour or so after foaling.
The foal will nurse for the first five months.
About 30 days after foaling you will again identify a stallion for the next breeding.
February 15 is the start of the breeding season.
Mill Ridge Farm
Mill Ridge will take over management of the broodmare care before and after foaling, and raising the foal. Mill Ridge has a demonstrated record of accomplishing their clients’ goals with breeding and raising your future racehorse at the highest quality. Just since 2000, Mill Ridge has raised or sold 36 Grade 1 winners including 8 Breeders Cup winners, Horse of the Year POINT GIVEN and HAVRE DE GRACE and Kentucky Derby winner GIACOMO.
How much will a Broodmare Cost?
When considering the open market for bloodstock agents, it is important to find a trusted and well-known representative. Prices are particular to pedigree, of course, but $100,000 is a reasonable figure to consider. Beyond the initial price of your broodmares, there are other expenses involved.
Various fees inevitably arise, like the daily board rate for your horses.
Veterinarian fees should be kept in mind, as a broodmare should be regularly examined to determine when she needs to breed.
Farrier fees should be taken into account.
Vanning fees result in your mare vanning to the farm that has the stallion
Breeding fees are the fee to the stallion your mare is bred to in the future.
Why Mill Ridge?
At Mill Ridge, you can come see the mare and foal, and the expert guidance provided to the process. As Headley Bell said, “Similar to the trainer at the racetrack, you're looking for an experience. You're looking to be able to go and to share and to come see the mare and foal. And to experience what we do with Horse Country (tours), which is to feed them carrots and fall in love.”
