Good time to buy horses – Parsard

While the horseracing industry has been thrown into turmoil due to the lockdown caused by the coronavirus, one racing insider believes that the current climate is ripe for investment when it comes to purchasing horses.

One of the leading equine shippers to Jamaica, Peter-John Parsard of Parsard Bloodstock, believes that quality horses can be had for reasonable prices overseas, especially in the US.

"You can buy a ready winner or a horse with potential that can win multiple races for half of the going rate right now," said Parsard, who has helped to bring in some of the leading horses at Caymanas Park at present.

One such horse that was brought into Jamaica by Parsard in utero, and that has gone on to do well, is the three-year-old DOUBLE CROWN, who has come of age and has done well so far, winning two races from two starts and who is touted as among the favourites for this season's classics.

Parsard added that there is more value for money on the market as many farms are looking to offload many of their prized horses due to the slowdown of sales caused by the pandemic.

"Cash is King right now, and people need money. Buyers can find significant savings of up to 15 and 20 per cent on some quality horses on the market. The top end of the market is still very strong, and there is a lot of money still being spent for quality, but the middle and lower market is very compromised," said Parsard.

Monopoly being lifted

Parsard added that the buying market has been revolutionised with the monopoly being lifted, with him offering more options to potential owners who want value for money.

"There were a lot of complaints in the past regarding price gouging and horses not coming down in good condition, but things are changing now. Clients with a good liquidity position are taking advantage of the deals available," added Parsard.

Racing has been indefinitely suspended for almost two months. Caymanas Park was shut down after the race meet held on March 21. It is likely, however, that racing could return next month. Earlier this week,the president of the United Racehorse Trainers Association, Ryan Darby, told The Gleaner that a memorandum of understanding (MoU) can be signed this week between the Ministry of Finance and key horse racing figures, potentially paving the way for a return to racing at Caymanas Park"We just need to get the finance minister (Nigel Clarke) to sign this MoU. We sign off on it, and then Supreme Ventures can send out a projection that we can work towards," Darby said.