Cover image courtesy of Magic Millions
For the first time in Magic Millions sales history the company has implemented the disclosure of whether a yearling colt is a rig.
With transparency paramount, the general consensus was anything that improves the disclosure can only be beneficial for buyers. The prospective downside is the perception that a yearling being listed as a rig could affect sale price and rule out bidding interest from colt syndicates.
That perception currently cannot be backed up by facts with Lot 201, a rig by Extreme Choice offered by Newgate Farm, who was sold for $700,000 to China Horse Club, Newgate, Go Bloodstock and Trilogy.
Lot 201 - Extreme Choice x Skate To Paris (rig) was purchased for $700,000 by China Horse Club, Newgate, Go Bloodstock and Trilogy | Image courtesy of Magic Millions
The rig is from the Bradbury Luck mare Skate To Paris, who won seven races including the Listed Brisbane H.
What is a rig?
The term 'rig' is transferable with ridgling or cryptorchid. Essentially, all terms described a male horse with one or both testicles undescended. Rigs can give the appearance they are geldings with lack of visual presence of testicles. However, a rig still produces testosterone and will behave like a stallion. A rig is capable of being fertile and getting a mare pregnant.
Rigs are formed in the male foetus, the testicles initially form next to the kidneys, but as the foal develops the testicles move out of the abdomen through the inguinal canal and into the scrotum. However, if the testicle doesn’t reach the scrotum (undescended), it can remain in the abdomen or in the area of the inguinal canal or groin under the skin.
Boomer backs move
Craig Rounsefell, of Boomer Bloodstock (FBAA), serves as President for the Federation of Bloodstock Agents Australia (FBAA). He shared with The Thoroughbred Report the initiative by Magic Millions has been a full-circle moment after the FBAA pushed hard for the feature, “The disclosure of rigs, introduced by Magic Millions at the Gold Yearling Sale this week, was welcomed by all the members of the Federation of Bloodstock Agents Australia (FBAA).
Craig Rounsefell
“It was one of a few points the FBAA had been pushing for with the sale companies, given the feedback from our members and their clients.
“In my opinion, the more transparency there is in a transaction the better the outcome for all parties and the higher the likelihood of repeat business. As we know, being a rig will not stop a yearling from becoming a good racehorse nor necessarily a stallion in the future, although it is a condition that buyers should be made aware of as there are implications for insurance, etc.”
“In my opinion, the more transparency there is in a transaction the better the outcome for all parties and the higher the likelihood of repeat business.” - Craig Rounsefell
FBAA universally support
Fellow Federation of Bloodstock Agents Australia board member William Johnson of William Johnson Bloodstock (FBAA) said it was unusual in global terms for this to have not been previously disclosed.
“I have often wondered why American sales companies disclosed this information, yet Australia lagged behind with no formal publication of a ‘colt's’ testicle composition.
William Johnson | Image courtesy of The Image Is Everything
“The FBAA are working hard to ensure buyers are disclosed as much information as possible from both sales companies and vendors, and this is yet another step in the right direction - well done to Barry Bowditch and his team for setting the pace.”
Neil Jenkinson, who is also a member of the Federation of Bloodstock Agents Australia said, “It has been something the Federation of Bloodstock Agents Australia have been pushing for a couple years.
“I’d love to think that we could have the dream of racing colts and we get a stallion, but the reality is the horses we’re buying are more than likely going to be racing as geldings. All in all, it makes little or no difference to me as a buyer. However, I think any transparency or anything you can add is helpful.
“All in all, it makes little or no difference to me as a buyer. However, I think any transparency or anything you can add is helpful.” - Neil Jenkinson
“The main market it would affect would be those buyers sourcing potential stallion prospects. It’s funny, since Magic Millions announced it, the most interesting thing is owners seeing it on the websites and ringing me to ask what a rig is! I’ve had to answer at least 35 times what a rig is and what effect that has and should I not buy because it’s a rig.”
Owner most important from Price perspective
Victorian-based trainer Mick Price, who trains in partnership with Michael Kent Jnr at Cranbourne, was strong in his endorsement ‘that transparency can only be a good thing.’
“We need to look after the end-user and whatever can be supplied to help them make informed decisions and stay in the game is of benefit,” Price said.
“We need to look after the end-user and whatever can be supplied to help them make informed decisions and stay in the game is of benefit.” - Mick Price
“The idea of disclosure (of) rigs is helpful, but you can still choose whether to use it or not to use it. Does it affect the price? I would think those rigs fall outside of the standard colt buyer syndicates, so they will be discounted but I don’t think it matters because the ultimate aim is to look after the end-user and in doing that the industry is better off.”
Price was asked about the potential difficulties in training a rig and why buyers could avoid them: “In the context of what we spend on training fees the cost of procedure to geld a rig is not a great amount but a lot of times it affects temperament.
Mick Price | Image courtesy of The Image Is Everything
“Because a testicle that is in the abdomen sits at a higher temperature and creates a different form or level or testosterone and sometimes your rig can be a more frustrated individual, I have found, and this is why they end up getting gelded.
“I just think if it benefits the end-user, it’s a great idea.”
