Australian Bloodstock Purchases Melbourne Cup Prospect
Aug 09, 2010
Finally, after spending the last 16 weeks trying to source a high class staying horse, we have managed to get a deal done that we are more than happy about and a horse that we are very excited about.
We have been especially careful when sourcing this horse in order to maximise our chances of success.
We had a very strict selection criteria which reads briefly as follows:
- No older than 5 years and a horse with residual value
- Lightly raced with less than 12 starts
- Must have been well bred and reared on a respected farm to ensure the horse has been given every chance in its development
- Physically sound and strong enough to suggest it will handle distances of 2000m or longer
- Hold a Timeform rating of 90 or greater
- Must possess a good turn of foot and the ability to run good sectional times
- Must handle firm ground and be able to race comfortably in big fields
We paid two objective professional form analysts to give us a honest assessment of the horse and needed both to agree that the horse was a good prospect.
We also had some help from staff at the stables of Chris Waller, Lee Freedman, and David Hayes, who were able to identify the required characteristics of the better performed imported horses that they have worked with.
After an exhaustive search we are proud to say that we have sourced a horse that ticks all the boxes and we are very excited about its potential as a top class staying prospect in Australia.
ABOUT OUT HORSE – “CONTRACT CATERER”
Contract Caterer is a 3yo colt with outstanding form in progressive handicap grade races in the UK. He has had 10 starts for 2 wins and 3 placings, and has chased home some very highly rated horses during his career and has not been disgraced at any time.
Contract Caterer is trained by Pat Eddery, a former jockey turned trainer with just a few years of experience under his belt. Our form experts believe there is considerable upside in buying from this yard as the potential for improvement under a more experienced trainer is very high.
Our discussions with track work riders and jockeys have yielded glowing reports of the horse’s ability and potential, as well as his general personality and physical soundness. He is a very relaxed sort of horse that enjoys his work and racing and he does everything with a minimum of fuss.
You will see from the form comments below that he has raced in some of the strongest handicap staying races in the UK this season and the form around him is first class. From a form prospective it is thought he is very progressive and has plenty of upside which is obviously vital for a horse of his age.
Contract Caterer holds a Timeform rating 102 and importantly is adaptable and has a turn of foot. You will note that he has been competitive from 1200m up to 2400m so he is not the typical slow English stayer.
To put his Timeform figure into prospective, none of the horses purchased by Chris Waller were rated as high as Contract Caterer at a comparable stage of their career’s yet they have raced here with great success. Group 1 winner Speed Gifted was rated 105 by Timeform when he left the UK, just 2 lengths better than our horse.
Contract Caterer has only raced on tracks that are the equivalent of Australian city class form and all of his form this preparation has been during the peak UK carnival periods, during which he has raced in very high class fields.
He has always been in the market betting wise in these kinds of races and has been ridden by some of the best jockey’s in the world including Frankie Dettori, Keiran Fallon, Jimmy Fortune, and Richard Hughes.
After reviewing the form and watching the race videos I’m 100% convinced that this is the right horse to chase and I am already excited about his racing future in Australia.
OUR AIM – AUSTRALIAN GOALS
Our immediate aim with Contract Caterer will be to import him with the pending crop of Melbourne Cup horses arriving this spring and as he is in full work and race fit we will look to target the Moonee Valley Cup or Geelong Cup with a aim to get him into the Melbourne Cup.
We believe that if the travels well he would be a great light weight chance in the Melbourne Cup should he perform well in the lead up. If the Melbourne Cup is out of reach we have a plethora of big race options available to us including but not limited to the SAAB Quality, the Queen Elizabeth, the Sandown Classic, and later the Perth Cup, all of which carry significant six figure prize pools.
There are numerous options for staying horses in Australia and the prize money in these events is outstanding. We do believe that with natural improvement Contract Caterer can be dominate here, and be in an ideal position to capitalise on the glut of staying races.
Because the horse has a high rating we also have the option of campaigning overseas in Dubai or Asia if he proves that he is up to that level.
COSTS AND CHARGES
Considering his form and the market value of horses that have finished around him we are extremely happy with what we have paid for Contract Caterer. We believe that we have got great value for money and when you consider that over 90% of the horses imported from the UK by the likes of Waller or Freedman have shown a positive return and increased their value, we are certain we have bought well.
Contract Caterer is only a 3yo and so has a great deal of racing ahead of him and therefore we are able to maximise his earning potential. The form expert that recommended the purchase of Above Average and Fanjura for clients of Lee Freedman has been involved with this purchase and he believes that this horse is at least equal to those horses in terms of form and potential – don’t forget that those two horses are two of the leading Caulfield and Melbourne Cup chances this year!
Below is the purchase price breakdown as it stands with Contract Caterer landed into Australia:
- Horse Purchase price
170,000 GBP (original asking price was 225,000 GBP) Approx. $297,387 AUD
- Horse pre purchase vet exam
- 1800 GBP Approx. $3223 AUD (complete x-rays and blood exams)
- Flight Quarantine and transport to Quarantine
15,250 GBP plus 1580GBP in taxes/duties Approx. $29,444 AUD
- Agistment leading until quarantine date
$35 per day x 45 days = 1575 GBP Approx. $2875 AUD
- GST on horse import
- UK Agents fee
- Our Fee (Australian Bloodstock)
- Total Cost Landed in AUS inc. all Taxes = $377,129
Australian Bloodstock has reduced our normal fee of 10% of the purchase price because we intend on buying shares in him ourselves - We have spent the best part of 12 months trying to source a suitable horse and we don’t want to miss out when our clients strike it big!
It is our intention to offer partnerships in this horse now to help us share the initial costs but once Contract Caterer lands in Australia the share price will increase substantially. Like with any investment, if you get in at the ground floor it is always cheaper and we are sticking by that rule here by offering proven clients a discounted opportunity.
We also appreciate that the majority of our clients will not be able to afford 10% shares and so we would like to offer smaller share splits as a part of a larger syndicate in order to allow as many people as we can to join in the fun. Syndicates must be made up of a minimum of 10% so effectively 10 mates can buy in at $3771 and buy 10% between them.
We have already had massive interest in Conttract Caterer after initial discussions with larger clients so if you would like to be involved at any level as an owner of the horse please get in touch with us as soon as possible. Again the current share offering is 10% at $37,712 so just divide that amount by 10 for the 1% price.
If you’ve ever wanted to race a high class stayer this is the horse to be involved with. Don’t miss out on what could be the ride of your life!
PS : For those after all the advice we have recieved ie detailed form breakdown and photos etc - please contact us immediately as we do expect he will sell very fast
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