Understanding the Role of Your Bloodstock Agent
The bloodstock agents of Mill Ridge Farm can often be found assessing thoroughbreds. As a family business, they take pride in every aspect of the horse racing industry, especially in working with clients to reach their goals and find the right thoroughbreds for each owner to round out their racehorse portfolio.
As much as a potential owner may love the excitement of the track and the dream of owning a racehorse, the thoroughbred market is not something you can jump into without a knowledge base. That's a bad use of your money–similar to buying an airplane sight-unseen because you like to fly. The beginning of your relationship with a potential bloodstock agent is going to be a long, ongoing conversation about your goals and intentions. A bloodstock agent can help get your bearings, define your goals, and create a long-term strategy, not just help you buy a horse.
As a potential buyer working with a bloodstock agent, it is important to understand the multifaceted role your thoroughbred bloodstock agent has.
Bloodstock Agent Basics
Bloodstock agents are thoroughbred horse racing consultants who buy and sell thoroughbred horses on behalf of their clients, and they receive a commission for the sales. Your bloodstock agent may be knowledgeable in all areas of the thoroughbred horse racing industry, or they might choose to specialize in a certain area, such as racing stock, breeding stock, or a combination of both.
Within thoroughbred horse racing, bloodstock agents can specialize even further. Many agents help identify prospects for their clients who want to grow a thoroughbred horse portfolio and watch their horses race. Whichever agent you choose, keep in mind that it’s a long term relationship built on trust, shared goals, and the expertise that your agent brings to the table.
A bloodstock agent's expertise stems from their vast knowledge of breeding and pedigrees, regardless of their specialty. This knowledge can provide a baseline for obtaining your goals. Bloodstock agents provide insight to those looking to pinhook (buying a horse to resell in a short period of time for a profit), offer support during private sales or at public auctions and sales, and can prepare mating suggestions for your broodmare band.
Typical Bloodstock Agent Tasks
Bloodstock agents' tasks are centered around acquiring as much knowledge as possible about thoroughbreds and bringing the right sellers and buyers together. A few examples of the roles your bloodstock fulfills include:
Evaluating pedigrees and conformation to gauge the value of thoroughbreds offered for sale by private sellers and at public auctions.
Bidding on thoroughbreds at auctions for clients and initiating or brokering deals for horses being offered privately.
Recommending breeding plans for broodmares and booking mares to stallions.
Valuing horses for insurance purposes and recommending insurance providers to their clients.
Traveling to represent clients at sales nationally and internationally if they choose.
Networking and building strong relationships with racing industry professionals.
Maintaining and expanding their sales business.
Promoting bloodstock lines and breeding programs or offerings.
Partnering with veterinarians, farriers, and other equine health professionals to evaluate the fitness of thoroughbreds.
Focusing on creating and maintaining quality thoroughbred racehorse boarding, raising, and training facilities.
Bloodstock Agent Education, Training, and Abilities
Even though there is not any formal education, training, or certifications to become a bloodstock agent, you want to work with an ethical, meticulous, experienced agent. Successful agents work their entire careers to build a strong reputation for ethics, trust, and performance. Your investment is a risk, but choosing the right agent doesn’t have to be risky. Here are a few tips to help you figure out if the bloodstock agent you are planning to work with has the experience and knowledge needed.
Expertise: Look for a bloodstock agent that has knowledge of the thoroughbred racehorse industry, understands pedigrees, and has a good eye for seeing the potential in young thoroughbreds.
Education and Apprenticeship: Many bloodstock agents have worked in various aspects of the thoroughbred industry and have trained under a seasoned bloodstock agent.
Experience: Bloodstock agents need to understand the vast variety of thoroughbred pedigrees, industry trends, horse care, and how to help investors understand the risks and rewards of buying thoroughbred racehorses.
Relationship Skills: A bloodstock agent should put your interests first. Their role is to assist you in fulfilling the goals that you define in the beginning of the relationship and any others that may arise. Ideally, the bloodstock agent's goal should be to fulfill your dreams.
Knows the Rules: All bloodstock agents must be familiar with the guidelines for the ethical operation of a bloodstock agency. These guidelines were drafted by the Sales Integrity Program.
Trustworthy: Bloodstock agents must abide by the guidelines set forth in the Sales Integrity Program and conduct their business honestly.
The Agents of Nicoma Bloodstock at Mill Ridge Farm
The bloodstock agents of Nicoma Bloodstock at Mill Ridge Farm in Lexington, Kentucky have gone above and beyond for decades. This family owned and operated thoroughbred racehorse farm has been at the heart of the racing industry for many years. In fact, Headley Bell, the primary bloodstock agent at Nicoma, worked with the Sales Integrity Program to help provide ethical bloodstock agent guidelines.
He’s passed his knowledge along to other bloodstock agents, and the entire Mill Ridge Farm team is dedicated to the health and wellbeing of the horses that call it home. With Headley's help, and the help of other bloodstock agents, Mill Ridge Farm has raised or sold 36 Grade 1 winners since 2000. Bloodstock agents do more than buy and sell horses. They are fully invested in seeing your investment in the winner’s circle.
If you’d like to begin a conversation with a bloodstock agent at Nicoma Bloodstock about potentially owning your own piece of thoroughbred racing history, contact us today at (859) 224-1000.