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Originally Posted by AeWingnut
vetting? is that like having a mechanic look at the car before you buy it?
I don't understand why you pay $24k for a horse that could have been claimed for $15 or $20k. I don't see any downside other than that and I admit I don't understand. I'm just happy to be part of it (even if it is a very small part.)
Thanks again !
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Ae,
The claim price and what the prior owner was looking for in the sale were basically around the same thing. The owner had her in for $15,000 figuring she wins and gets claimed or in for $20,000 with a good chance to finish in the money and get claimed:
$15,000 tag + 60% winner share of $11,000 purse ($6,600) = $21,600
$20,000 tag + 60% winner share of $17,000 purse ($10,200) = $30,200
$20,000 tag + 20% second share of $17,000 purse ($3,400) = $23,400
$20,000 tag + 10% third share of $17,000 purse ($1,700) = $21,700
Price she went for in the sale = $24,000
In reality, he gets around what he was looking to sell Sumwon for, which was a little north of $20,000. We wanted to spend $22,000, but Chuck wasn't going to let that extra $2,000 stop us. By buying her at the sale we paid about 10%-15% more than her exact value, but that was a premium worth paying given the chance to have her vetted and given that Chuck felt she perfectly fits our needs.
PLUS, recognize that had we tried to get her in the claim box, we would likely have had to win a shake for her afterwards because we probably wouldn't have been the only stable putting in a claim on her...
Hope this helps you understand the way this worked and how it plays out in the game with things like this... Part of what we are trying is show people the inner workings of the game and this is a particularly good example of some of what goes on...