Page 107 - Speedhorse June 2019

“I can honestly say I’ve never regretted selling any horse because it has always been a move that was leading me to something better.”
extremely vital and helpful in the overall industry. One of their main functions is in the area of
new people who are looking to become part of our industry. These people need and seek help. An honest agent who functions with integrity can be invaluable to these newcomers. Speaking honestly, the agent cannot only help to locate the best horses for these prospective buyers but he can also locate them at the best prices. An agent’s job is to buy the best horse for the best price for that particular program. It’s no secret that there are many wealthy people in our industry. The price of horses seems to mysteriously escalate as soon as the word is out that these personalities are looking for a broodmare or a stallion! I’ve
had sellers ask me the names of the clients I’m representing so they could adjust the price accordingly. This is really where the agent counts.
“It’s unfortunate, but there are many agents who do not take proper care of their clients. They buy and sell just about anything that will bring a commission into their bank accounts. The result? There are many new people who get into the industry only to become badly burned. After that, they can’t wait to get out. As far as I’m concerned, newcomers must spend what I refer to as ‘smart money.’ They need help and guidance in order
to make the right deals; the deals that will still be right two, three and four years later.”
Sarah doesn’t back down when it comes
to her predictions for the future of the race horse industry. She insists that big money has big money and the prices of racehorses will continue to escalate. “There was a time not
too many years ago,” she says, “when anyone could purchase the greatest mare in the industry for $100,000. Today, that same mare will cost at least $500,000. History has borne out the fact that horses will continue to prosper and
to escalate regardless of what happens in the world from an economic standpoint. And this is another reason why agents are becoming so important to our industry.
“I’ve been asked the best method for choosing an agent. Well, the best answer is to go to someone who has been highly successful in the horse business for themselves or for the clients they represent. It’s really no different from what I tell my kids which is: Go to a successful mother if you want advice! Remember . . . we have no governmental agency
or any other authoritative body policing agents. At the same time, the use of an agent should be more than a word given between people. It is one person hiring another for his or her expertise. An agent should have the equivalent of a Master’s Degree or Ph.D. in the industry. This is your best chance of putting your money with someone who know how to recognize those black type horses. It’s up to them to buy the best horse for the best money; and it’s up to them to purchase a horse that will generate pride of ownership for the buyer. There is nothing without that pride.”
As far as Sarah is concerned, there are a number of ways in which a newcomer can break into the industry successfully. Two of her favorite methods are limited partnerships or syndications. “But only if there are successful horsemen at the helm,” she cautions. “In this way, the newcomer can learn from the experts while becoming involved in stallion syndicates or broodmare and racing packages. The newcomer’s risks are spread out, and he has the opportunity of learning valuable facts without a heavy cash outlay. It’s a great way to gain expertise in the field of ‘what things cost’ which, in my opinion, is one of the elements that comes as a big surprise to many newcomers. It’s also one of the largest contributing factors to early failures in our industry.”
Sarah is currently handling clients across the country. She works on package deals, on single purchases, on syndications. She’s a people-oriented lady and she can read her buyer and sellers well and correctly. It didn’t take her long to realize that the contemporary buyer is astute, doing his homework before making the first move. Neither did it take her long to realize there are some people who are literally chomping at the bit to enter the racehorse industry but . . . they are frightened by the high dollar figures they hear and read. They take one look at the commas in those figures and decide immediately they best not dip their feet in these wealthy waters. “Good deals can still be made,” she laughs, “and patience is a key factor. Sometimes, it takes months to find the right horse for the right price. The fundamental principle is that horses bought and sold must pay for themselves. Playing the game correctly means you do not dip far into your own pocket to satisfy these figures. Correctly purchased horses should take care of themselves. It’s still possible to buy a horse – a superior horse
– and to parlay that animal into a business that is self-supporting. This is what I love doing. It’s an exciting challenge for me to work with people; starting with them at point A and taking them to point C as successfully as possible.
“Over the years I’ve had some wonderful associations with what I consider the real greats in our industry . . . people who were problem- solvers, chance-takers and belief-makers. They were people such as Harriet Peckham, Walter Merrick, Leonard Blach, Melvin Hatley, Bubba and Jake Cascio, Walt Wiggins, Gene Terfertiller and others. I was involved for seven years in the public relations and advertising for the Buena Suerte. Looking back to the beginning of that project, it’s uplifting to remember how hard everyone worked toward a common goal for
so little money . . . and yet had so much fun!
It was like being involved in a movement to collectively make things better for our industry.”
More recently, Sarah has been working closely with the newly formed League Inc. in various capacities. According to her, this particular association brings her a giant step closer to her goals which, as she’s already described, are to function as a well-established and reputable
agent. “I feel as if I’m now closer to the heartbeat of the entire industry,” she explains, “and that’s critical if I’m to perform my job well. I handle League, Inc.’s public relations, image development and advertising. It’s a full-faceted program and just the type of challenge I thoroughly enjoy.
I’m tremendously excited over the fact that, for the first time in my life, I’ll be going to the All American with thirty head of yearlings.”
It’s impossible for Sarah Henderson to sit still. She divides her time between El Paso, Dallas, California and Oklahoma . . . on the move almost constantly. In addition to all that, she’s an active participant in the August 28 Buena Suerte sale and party. The sit-down dinner will accommodate over 3,000 people and Sarah’s aunt, Mary Jane Hagler of Fort Worth, provides all the food and flowers. “I suppose this goes back to the creative part of me that I can’t seem to deny,” laughs Sarah. “This year, we’re changing somewhat the format of the Buena Suerte sale and party. We’ll have forty head of weanlings and mares at the sale and no yearlings. There’ll be a show ramp with the sale lasting from 8:00 until 10:00 p.m. with a dance afterwards. It’s
SPEEDHORSE, June 2019 105
LOOKING BACK - AN EXCERPT FROM JULY 1982 ISSUE
E