RENPHER STABLE TO PURCHASE YEARLINGS AT
THE FASIG TIPTON SEPTEMBER FALL YEARLING SALE!!!!!
Renpher Stable will be actively pursuing the acquisition of yearlings of 2008 from an The Fasig Tipton Fall Sale in Timonium. The sale usually generates approximately 900 yearlings, of which 300 go to auction each of the three day duration.
For more info on the sale visit:
www.fasigtipton.com
Once on the Fasig Tipton website, you can review an annual schedule as well as results from years past.
Here is an outline of our plan.
01) Yearling Sale
We will be purchasing a yearling from the Fasig Tipton Eastern Fall Yearling Sale in Timonium. Sales dates are, Sept 29, 30 and Oct 1st.
02) Cost
Cost breaks down into two categories, purchase price and monthly expenses. I would like to set a budget at $5,000 purchase price. Of course this is an auction environment. We could purchase a horse for less than $5k or more than $5k. Our budget is a target which we try to adhere to.
As for expenses, I would ask for $5,000 as part of the initial cost. I like the number because it makes each 1% equal $100. Also based on our last yearling, Principal Passage, we should get right up to April of 2009 with the $5k. Monthly expenses at $700 would equate to 7 months which should get us from Oct - Apr, on a farm. In early May we would expect to break the horse then turn it over to Stickler at the track. Therefore you can expect expenses to jump to our typical $20 per 1% beginning in May of 2009.
03) Initial Cost
The initial cost breaks down as follows:
$50 ..... 1% of $5,000 purchase price
$50 ..... expense escrow
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$100 ..... per 1%
Add $35 to the total to cover the accountants year end K-1 preparation.
04) Reservations
You can reserve shares by simply e-mailing Bob O. Include the percentage you would like to own. Renpher Stable will reply with a confirmation of the shares being reserved in your name. An agreement will be attached to the e-mail with instructions including your initial amount due.
05) Sell or Race?
It is our intention to purchase the horse to race. It is also our intention to have the horse stabled at Penn Nat'l.
06) Questions?
If you have any questions, please feel free to e-mail Bob O at:
bob@renpherstable.com