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#1
09-09-2010, 09:31 PM
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Not even the Phippses can keep all of their mares; new fillies keep being retired every year. The stable hasn't had many big money earners of late, so it may make sense, tax-wise, to sell proven producers (they might never have another SW, after all) since they will bring the best prices - proves you are running your operation like a business, not a hobby.
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#3
09-09-2010, 10:27 PM
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This is not new. The Phipps family sells horses at the Keeneland sales every year. Last September they sold a half to Persistently for 11K. After the grade 1 win Just Rewards value is as high as it will be. Last November I think they sold Grand Gala, Preaching, Winning Bet and Cashier. They sold Supercharger in foal with Super Savor a few years ago.
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#5
09-10-2010, 07:57 AM
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#6
09-10-2010, 05:15 PM
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Bessemer is the one of the largest U.S. wealth managers and a top adviser to utra-rich families, overseeing $55.4 billion in client assets. The average client has more than $26 million.
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#7
09-10-2010, 08:08 PM
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I didn't say they need money. But thanks for the education.
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__________________
 Seek respect, not attention.
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#8
09-10-2010, 08:24 PM
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Well, what could be going on "under the surface" as you so obliquely allude to?  If it is not money...what other reason? I can't think of any. Are they splitting with Claiborne after 100 years? Is the family selling the stable?
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#9
09-10-2010, 08:26 PM
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i'm figuring it's just something they do on occasion...altho, one has to wonder due to the fact the sr. phipps is 70-ish now, and not in great health. but you'd have to imagine he'd already have his ducks in a row re: inheritance...
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#10
09-10-2010, 09:47 PM
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Do I think they need money? No
Do I think they are getting out of the horse business? non not yet anyway. Do I think they are doing what every other commercial or private horse operation is doing? Yes. They are streamlining, getting out of mares while they still have good commercial value. Do I think that the phipps family will still be breeding horses with claiborne in 100 years? I sure hope so, but the realist in me doubts it. These old money racing entities just don't seem to last once the driving force dies. As far as the press release, one writes them to garner interest and attention...in this case it may well be that Keeneland is the one who is seeking a "name" draw for november. I suppose time (and by that I don't mean november 30th) will tell. I'm enough of a conspiracy nut to not take anything at face value, I've been wrong many times...it won't hurt if I am again. Quote:
__________________
Seek respect, not attention.
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#11
09-10-2010, 07:36 PM
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Hybrid Mode
