Broodmare Valuations

[Quiet Chris]

Looking at some of the Broodmares for sale at Keeneland and had a few questions. There are Book 1 Broodmares like an Unrivaled Belle that were great racehorses but haven't produced much. Then there are some well bred Mares in later books that weren't great on racetrack but are well bred and have little or no produce record.

If you are starting out and looking to buy 2 broodmares as your foundation, does it make sense to try to acquire big names like an Unrivaled Belle. Or is buying a Broodmare in later books that are well bred but have no produce record the way to go?

I really like a mare named Hunah Hannah in book 6 and another named Sea of Laughter in Book 3. And am going into a partnership to try to buy them. But I am being told repeatedly that a small percentage of a mare like an Unrivaled Belle is better than a half interest in lesser mares.

We may sell their foals as weanlings, yearlings, or keep to race. Not sure yet.

Thanks for any input.

[BaroqueAgain1]

I am no expert, but what you said about Unrivaled Belle not having 'produced much' seems important. If a mare has a produce record that gives you an reasonable idea of her foal quality (so far), what would you do differently, as far as choosing a stallion for her, that hasn't already been done? I would assume that a top mare has already been bred to top stallions who 'nicked' well with her.

[TBird]

If you can afford Unrivaled Belle, you should buy her. It is a little unfair to say that she hasn't produced much when she only has 2 foals of racing age. Her current 3 year old is unraced, but her 2 year old ran 2nd in her first start for Jerry Hollendorfer and is working lights out (a best of 75 5f work in 58.2 at SA 2 days ago) toward her next start. Plus, Unrivaled Belle has a Malibu Moon filly coming along and is in foal on an early cover to Tapit. This mare will probably be out of most people's prices ranges, as she should be.

The other 2 mares you cited both look like interesting prospects. I prefer Sea of Laughter because she's a winner and because she is in foal to a better stallion. If you are breeding to sell, you should be aware that the sales companies never put more than 4 dams on a page. That means that everything you see under the 4th dam on Hunah Hannah's page--currently about 1/3 of the page--will "drop off" when a foal of hers is catalogued.

To answer your original question, I would always buy an unproven mare (assuming she has family and could run) over an older mare who has had numerous tries and failed to produce. But I don't happen to agree with you that a mare the caliber of Unrivaled Belle fits into that second category.

[Quiet Chris]

If you can afford Unrivaled Belle, you should buy her. It is a little unfair to say that she hasn't produced much when she only has 2 foals of racing age.

I was using Unrivaled Belle as an example. The group is looking at a very nice mare, but it isn't her. She went for $2.8 million last time. I just used her because I did not want to mention the mare they like as I am more likely to just go with nice mares and maybe sell their foals as weaklings or yearlings. I think they may keep to race, which means years of expenses.

I too think Sea of Laughter is going to be #1 on our "draft board" and I think that owning 1/3 of a mare like that should be in my price range. I have to decide before next weekend, but I still may go the safe route and may just try a small share of a partnership like Zilla or even Centennial.

Thanks for you input though. I think Sea of Laughter is where I am headed.

[Izvestia]

You won't name the big name mare, but you will name Sea of Laughter?

[mariasmon]

I'd take a hard pass if it's Cotton Blossom. She's had a couple of yearlings sell well, she is good looking and could run, but her produce record is spotty. I suspect she might not be the easiest to get/keep in foal. She may prove me wrong later, but I wouldn't drop much coin on her at this point. The mare is 12, retired at 3, and only has 3 foals of racing age.

[Quiet Chris]

You won't name the big name mare, but you will name Sea of Laughter?

Sea of Laughter is not a big name. She won $30K on the track and is in foal to a solid $15K sire. I didn't mention the mare because it isn't my business but they probably don't care anyway.

[Quiet Chris]

You won't name the big name mare, but you will name Sea of Laughter?

The mare they love is Crisp. That is why I brought up her daughter Hunna Hannah who is also in the sale later. Crisp is a Grade 1 winner in foal to American Pharoah. They have been talking forever about buying but are now a legal entity so I am guessing they are walking out of their with a good mare. They love Maybelline too in the FT sale but are expecting some stiff competition on her. Crisp probably won't fetch a huge dollar for a G1 winner even in foal to AP. That is their guess. I still rather own a larger percentage of an OK mare than 5% of a name mare.

[MTO]

You mention selling the foals or possibly keeping the foal to race.

Another option is selling the pregnant mare. Or sell the first foal and then sell the pregnant mare the next year. Or keep the first foal and 2nd foals and sell the pregnant mare the next year and then sell the first foal as a 2 year old in training if possible.

If you are buying a mare you should think of an exit strategy on selling the mare before she's too old,IMO.