RWITC LTD Annual Auction Sales 2018 - make your dream of owning a race horse into a reality ! - By Cyrus Naterwalla
Posted on - 05 Feb 2018
RWITC LTD ANNUAL AUCTION SALES 2018 - MAKE YOUR DREAM OF OWNING A RACE HORSE INTO A REALITY !
After a hiatus of nearly 20 years – The RWITC Ltd. will play host to the Annual Auction Sales in February 2018 just after the conclusion of the Indian Derby. The Auction Sale – the only one of it’s kind in India is conducted every year traditionally in the week following the Derby but returns to Mumbai after a long gap and will afford locals the opportunity to inspect and purchase quality two year olds by way of a public auction. Breeders from all over the country will flock to the Mahalaxmi Race Course this February with as many as 261 horses retained for sale in the Auction Ring.
Traditionally, owners desirous of purchasing a racehorse would have to travel to various Stud Farms to view the animals for sale and then conduct their business via a private sale. This would entail travelling to the various Stud Farms located all over India and spending a day or two there which is not entirely convenient for someone new wishing to enter the sport. Hence, having the sale in Mumbai itself would allow prospective buyers to simply visit the race course, inspect the two years olds on display who would be available for viewing in the days leading up to the sale, make their selections and then bid for them in the Auction Ring affording a greater degree of convenience.
Hitherto known as the ‘Sport of Kings’ Horse Racing was initially considered to be purely an industry for the elite and wealthy but with the advent of Racing Syndicates, it has become much easier and more affordable for even an average individual to enjoy the thrill of owning a Thoroughbred Racehorse. A Syndicate allows a group of upto 10 individuals to get together and collectively pool in their resources in order to own and purchase a race horse. Hence, where for example it would cost approximately Rs.10 lakhs to purchase a good quality race horse which would be a large investment for an individual – 10 persons can now purchase the same race horse by contributing a sum of Rs. 1 lakh each !! Which would turn out to be much more practical and affordable. The monthly cost for maintaining the race horse would then be roughly Rs.4,000-5,000 per month per person in the Syndicate – again an amount which would be affordable to a normal individual wishing to enter the sport. Hence, an average middle class individual who has always dreamed of experiencing the thrill and excitement of owning a race horse and the adrenalin rush that one experiences when cheering home and leading in a winner, can now transform that dream into a reality.
A Sale Catalogue is compiled and published roughly a month before the expected dates of the sale to allow interested owners to study the pedigrees and names of the various horses and Stud Farms which have entries for the Annual Sales. 3-4 days prior to the actual sales, the youngsters are paraded at the racecourse in the morning and evening, allowing owners and trainers to view the animals, study their confirmation and examine them if required. Tentative selections can then be made and the desired horses noted down in the Catalogue. The Sales then take place much like any other Auction and are conducted in the Paddock at the Mahalaxmi Race Course. Each horse is given a lot number and when the lot number is called out, the animal is brought into the ring. The bidding is then commenced by the auctioneer with all approved owners allowed to bid and the horse being sold to the highest bidder. Some horses have a minimum contingent fee so the bidding for those animals commences from the contingent amount and the horse remains unsold if the contingent amount is not bid for.
In addition, The RWITC have made it even more mouth watering this year as in addition to the regular lots, there is a special Blue Section which contains a lot of 18 horses who will be sold by auction and whom meet the following criteria :-
► Horses entered by Breeders/Vendors which have produced at least 1 Indian Classic Winner
► Lots out of a Group 1 winning dam
► Lots which are siblings to a Group 1 winner either in India or abroad
Hence, persons desiring of bidding in this section are sure to get a top level pedigreed horse at what could be a throw away price.
Whilst most of the attention will probably be focussed on the established and proven sires such as Multidimensional, Phoenix Tower, Burden of Proof, Win Legend etc. as well as Excellent Art and Western Aristocrat among the juvenile sires, there are some interesting new sires like Fantastic Dubai, LeitirMor, Strong Suit and Speaking of Which who would also command some interest and may provide some bargains for the discerning owner.
Hence, this year’s Auction Sales promise to be one of the best and most looked forward to events and anyone with a passion for the sport and for horses in general is encouraged to attend.