Michael J. Martin photo

The first thing you should know about bloodstock agents or consultants is that there are many people labeling themselves as such with wildly varying credentials and integrity. There are no licenses or educational certificates that qualify one to be an agent. Quite frankly, just about anyone can call himself/herself a bloodstock agent, and does. You should investigate the background and reputation of any bloodstock agent/agency with which you expect to do business.


Keeping all that in mind, a well qualified, honest bloodstock agent can be a huge asset to your business. It is the full time job of an agent to monitor the market and trends in the industry, looking for that next up-and-coming stallion, or knowing what stallions are failing. Your trainer or farm personal have other jobs to do and cannot devote the time that an agent can in being on top of this vital information. Agents often travel to numerous sales across the country and internationally, inspecting horses for their clients and networking with other owners, trainers and agents in the process. They visit farms and inspect stallions, and foals of new stallions along with other horses that may be available for purchase privately. They can devote the time to be available to their clients for the entire length of a long sale, such as the Keeneland September and November sales which run for 10-12 days in a row. Trainers in particular often can only spend one or two days at such sales; and quite frankly will admit they are not particularly good at selecting broodmares or young foals. Trainers often team up with agents to select down to a "short list" that they can quickly view in their limited time. 

The primary job of most agents is the buying and selling of horses, whether that be privately or via public auctions. Depending on their backgrounds, agents may also:

Give you advice in mating your mares and acquire seasons or shares in stallions on your behalf;

Sell equine related insurance;

Provide appraisals of horses; and

Advise you in managing your overall operation.


Charges you can expect from a Bloodstock Agent

Horse sales

Agents earn the majority of their income via commissions on sales and purchases. The standard commission can range from 5-10%, depending on the deal and who pays the commission (usually the seller). How much it will be can be negotiated at the time of sale. There may be two or more agents involved representing buyer and seller. In the case of all private sales insist on a written document that spells out the details of the deal, the parties involved, the amount of the sale, commissions to be paid and who they are paid to, any warrantees, how the money is to be transferred and any other relevant details.

Where an agent is assisting in the selection of a horse at auction, or selling for you at a public auction, various agreements can be decided upon in advance. The standard agreement is 5% of the hammer price, but other deals can be made and regular customers that spend large amounts of money on horses annually at auction are usually given a cut in the commissions for overall purchases and sales.

You may also keep an agent on "retainer" to give you ongoing advice predicated on the number of horses you have, along with agreements on commission levels set to your spending annually.

Stallion Seasons and Shares

Agents usually can get you the best price on stallion seasons and shares. The stallion share owner or farm where the stallion stands pays the agent's commission in most cases. The market for top mares to breed to stallions is very competitive and it is to the advantage of farms in most cases to encourage agents to bring their customer's mares to their stallions, thus their willingness to pay these commissions. You as a mare owner will be unlikely to get a discount because an agent is not involved if you call a farm and book your mare yourself. Thus, let your agent do the work here. 

Insurance

Bloodstock agencies that also sell insurance, receive their commission from the company they book the insurance through. Insurance is usually offered as part of a "full service" agency. Also see "do I need insurance?".