That's why over 88% of the racehorses we syndicate have earned prizemoney.
Dean Watt has been a professional licenced bloodstock consultant since 1988. As such Dynamic Syndications have access to facts and figures from around the world that only a handful of elite bloodstock professionals can access. It's this information flow and the hours of research into these statistics that sets us apart. Added to this is Dean's expertise in valuing thoroughbreds which has resulted in him being called upon as an expert witness to give evidence in many legal disputes.
You don't go to a local G.P. if you require specialist treatment. You would get the best help available. The horseracing industry is no different.
Being shown a racehorse and liking the look of it is only a fraction of the equation.
Buying a racehorse is easy ! All you have to do is stick your hand up and be the last man standing and it's yours ! Sign the docket, give the company a cheque and home you go !
So, why then if it's that easy, only a handful of people are truely successful in the horseracing game ?
Naturally, we can't speak for the amateur buyer but we can speak for ourselves. Every horse we select has been chosen because it meets stringent selection criteria.
WE NEVER LOSE SIGHT OF WHAT OUR JOB DESCRIPTION IS : RISK REDUCTION
(1) We are looking for a specific pattern of breeding coming through generations 5 - 6 - 7 and 8. These patterns do not appear on the catalogue page. We search for hours through highly refined pedigree software analyzing every pedigree in the catalogue.
(2) We only select stallions based upon proven racetrack ability at the elite level and in the case of stallions with 3 crops of racing age or more, they must have elite statistics highlighting their ability to uplift broodmares and produce quality racehorses.
(3) The pedigree must also represent commercially acceptable pedigree lines. Simply, the racing career of a thoroughbred is only half the story. Specifically in fillies where they become broodmares they must possess a pedigree that will be commercially received in leading sales rings in the future. In regards to colts, despite racetrack success, seldom will they make a stallion if they do not have a commercial black type pedigree to support them.
The racehorse's pedigree, in essence, is your insurance policy and potentially, your superannuation policy.
(4) Upon inspection, the first aspect that we look for is athleticism. It's imperative that it has the class and constitution to be an athlete.
IT MUST LOOK LIKE A RACEHORSE !
(5) Next is the most important aspect. - It's conformation. There is no such thing as the perfect racehorse ! They simply do not exist. What we do as professionals is reduce risk by eliminating all horses with conformational defects. Defects are likely, through bio-mechanical aspects, to create an increased risk of breakdown.
Dr TIM ROBERTS, DEAN & ADAM (the apprentice) Inspecting a yearling being walked
The art and skill is to know what to eliminate and what can be accepted.
We rank each horse we inspect into categories (classes A-D) and then eliminate through re-inspections. Once we have reached our final shortlist, our contracted veterinarian DR TIM ROBERTS inspects each horse again for us to ensure nothing has been overlooked. Also at this stage the vet places the stethoscope to the horse to check its heart beat for irregularities.
Dr Tim Roberts (Centennial Park Veterinary Practice) has been Dean Watt's contracted veterinarian for 10 years
Dr BRETT WARREN - Tim's veterinary partner in Endoscopy Equine Services reviewing x-rays
(6) A specific list of yearlings is supplied to Dr TIM ROBERTS who attends the x-ray repository on our behalf. Tim and his veterinary partner Dr Brett Warren and their assisting veterinarian Dr Andrew Thompson inspect each set of 42 x-rays supplied with each yearling. It is a frightening statistic just how many horses have structural defects or areas of high risk exposed on x-rays that simply cannot be detected through physical observation of the horse.
This is our quality assurance. We have a zero tolerance policy to any problems on x-rays. Whilst there is always an exception to the rule, there is no value in buying any yearling with any x-ray issue.
Simply - Do not buy a racehorse with an existing problem !
Brett the Vet - At work in the x-ray repository
It's a sad fact that so many racehorses which fail x-ray inspections with major defects are still sold through the ring for exceptionally high prices. It's this inexperience of the buyer, lack of professionalism (or laziness) not to check the x-rays that would save huge heartache and losses for the end owner.
It's no different than getting a pest and building report when buying a home. It wouldn't be much fun to buy a house riddled with white ants and ready to collapse. It's the same in racehorses.
X-ray inspections cost $165 for the vets to read on a one off arrangement and lower for volume. In 2006 at the Magic Million Sale our veterinarian Dr TIM ROBERTS and his two assisting veterinarians Dr Brett Warren and Dr Andrew Thompson read 122 sets of x-rays. Of these, 8 yearlings were ruled out totally, 3 had major risks, 6 had medium risk and 7 had low risks.
Therefore, with a ZERO TOLERANCE POLICY we knocked out 24 yearlings on x-rays. ( Simply - If in doubt - rule it out !)
Dr TIM ROBERTS
Whilst the expense is significant at these levels, it still only equates to one or two bids in the auction ring. However, the cost of a mistake in buying any of the 24 yearlings that were ruled out on x-rays would be horrific. Therefore we consider it to be a very cheap investment in quality assurance.
Once the list of passed and failed lots are supplied, we then value each yearling based upon a specific formula relating to service fee, conformation, athleticism and commercial pedigree. We set our valuations away from the saleyards and arrive prepared knowing what each horse is worth and what levels to bid up to. We sometimes miss horses we want because they simply sell for too much money. We will never pay "overs". If we do not get value - we wait for the next yearling on our list. Having done our homework prior to the sale and being totally prepared there is little opportunity for any emotional buy.
Conversely, regularly at sales horses go through the sale ring undervalued. We are there waiting to swoop.
David Reid & Dean Watt Dean Watt & Charlie Deeb
Dean Watt with clients
Jenny & Mauri Hayes and their daughter Megan
In 2006 at the Magic Millions Premier Sales on the Gold Coast the sale set new records in all areas. A record 1,375 horses catalogued, A record sale was set at $1.3 million only to be bettered the next day at $1.55 million. A Record Gross with $91.6 million in sales, A Record Average in sessions 1-4 of $140,068.
However, despite all the ego's, emotions and drama's being played out in the theater known as a sale ring, many high quality lots were going through at most acceptable and fair market values. The sale ring can be both exhilirating and depressing for both buyer and vendor all at the same time. Dreams are made or dashed in a 2 minute flurry.
We purchased 12 yearlings in the first 4 sessions and then 1 yearling in each of sessions 5, 6 and 7.
Our 12 yearlings purchased in sessions 1-4 with highly commercial pedigrees, correct conformation, athleticism, clean x-rays and passed by our veterinarian averaged just $53,958.
Add in our 3 other purchases which were of equal high quality and we finished with 15 yearlings at an average of $49,693
Reality is what Reality is ! Facts speak for themselves.
Do the work - get the rewards. Like all other areas of life - put in the hard yards and success will be its own reward.
For the 2006 sales it requires a Team of professionals to work together to get the results. We would like to acknowledge the hours of work put into the sales by our Team :
Master of Ceromonies : DEAN WATT
Consulting Veterinarian : Dr TIM ROBERTS
Assisting Vets: Dr BRETT WARREN & Dr ANDREW THOMPSON
"World Breed" Pedigree & Bloodstock Expert : GARY MUDGWAY
Administrative Support : FIONA
The Apprentice : ADAM
We welcome all owners to Dynamic Syndications Team.
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