Buying Yearlings with Nicoma Bloodstock
Are you looking to venture into the intensely competitive and thrilling world of thoroughbred horse racing? Have you ever considered working with a bloodstock agent? Teaming up with the right one could be the secret to making your racing dreams come true.
Nicoma Bloodstock, founded by Mill Ridge Managing Partner Headley Bell, has been leading the way in thoroughbred racehorse consulting since its establishment in 1979. Whether you're an industry novice or a thoroughbred veteran, Nicoma Bloodstock ensures that their expertise will guide you through an exhilarating process, balancing professional acuity with a genuine passion for the sport of kings.
We spoke with Headley about how his career as a bloodstock agent began and how a strong foundation of ethics sets Nicoma Bloodstock apart from other agencies in the industry.
Why Ethics Matter for a Thoroughbred Bloodstock Agent
Mill Ridge Farm was founded in 1962 when Alice Chandler, Headley Bell’s mother, inherited the land from her father. Within 20 years, the industry had changed to such a degree that Mill Ridge Farm wanted to be “in the weeds with the change,” as they called it, and decided to open up a consulting agency.
“I happened to be available, fresh out of college, and I didn't know any better,” said Headley. He committed to lead consulting, but only if he could operate under a stringent code of ethics, aiming to clean off the stained reputation of thoroughbred bloodstock agents of that time.
The importance of ethics to Nicoma Bloodstock cannot be overstated. A testament to this commitment is Headley Bell's role as one of the founders and the first president of the Thoroughbred Agent and Consultant Association (TACA), where he helped establish the industry's first code of ethics. While this ethical standard was not adopted universally by brokers, it has been accepted industry-wide and is included in all sales catalogs, setting a benchmark for operations.
Bridging the world of ethical conduct and horse racing transactions, clients and their bloodstock agents must establish trust, integrity, and shared objectives. Nicoma Bloodstock's ethical commitment to integrity drives the business of purchasing young racing prospects and forms partnerships rooted in trust, transparency, shared ambition, and a love of the horse.
The Strategy of Buying a Yearling
Clients interested in purchasing their first horse could consider buying a horse as a yearling. Yearlings still have a considerable amount of time before they are race-ready, but clients will have the opportunity to select from the broadest market available.
At the Keeneland September sale, a buyer chooses from around 2,500 thoroughbred yearlings. This provides a lot of value not only in the number of horses that are available but also in the variety of choices.
With Nicoma Bloodstock, the process of buying a thoroughbred yearling is personalized and built around the client's goals and budget. When Headley first sits down with a client, he asks them some simple but pivotal questions that will guide his strategy:
What is your goal with buying a thoroughbred yearling?
It takes about $50,000 a year to train a yearling; what is your budget?
In what region of the country do you want to race, and we will discuss options for your choice of trainer.
A thoroughbred bloodstock agent operates much like a stockbroker, offering intel on the market. Narrowing down a list of horses for consideration at sale is done in part by evaluating a horse’s pedigree. Headley is an expert in pedigrees and identifying champion-level conformations. Great conformations can exist in horses across a wide variety of price ranges, so Headley begins his selection process in relation to his client’s budget.
Headley compared what he does at the September sale to what recruiters or coaches do in professional sports. “If you're evaluating athletes during a soccer match,” he said, “you are on the sidelines watching those guys warm up. An expert will notice which players carry themselves with the most athleticism. This is exactly what we are doing when we look at yearlings.”
Attending the September sale with Nicoma Bloodstock is a unique experience. Headley gathers his clients at the sale, advising them as a family. Every client has their own itinerary, and the transparency with which Headley makes recommendations leaves no room for conflicting interests between clients. Headley is a master communicator, and his ability to advise his clients in their decisions not only allows them to better meet their goals but truly enjoy being at the sale.
How a Thoroughbred Bloodstock Agent Supports You, Long After the Sale
The process of bidding and buying a yearling might seem daunting at first, with a myriad of factors to consider, but clients are never alone in the process. Any buyer of a horse is required to set up credit with the sales company, giving authority to Nicoma Bloodstock to bid on their behalf.
Some clients bid on their own, while others prefer to have agents bid on their behalf. Having bid on thousands of horses, Nicoma Bloodstock has developed a feel for bidding and understands the nuances. Headley advises on considerations like purchasing mortality insurance to cover your horse from accidental fatal injuries.
With mindful planning, expert advice from Headley, and considered execution, the experience can be incredibly positive and thrilling.
With Nicoma Bloodstock, clients aren’t just buying a horse. They are also purchasing a spectrum of support services that extend beyond the sale. Headley assists in:
Choosing the right training facility
Suggesting a list of possible trainers based on their location and techniques
Breaking down training strategy and helping execute a plan
Nicoma Bloodstock is straightforward about expectations, gently nudging the client towards a mindset where winning is celebrated, but losing, too, is a gracious part of the process. Headley guides the clients in the process of designing their silks, naming the horse, getting licensed to be an owner, and utilizing tax-friendly approaches to establish themselves within the industry. The whole team at Nicoma Bloodstock is there every step of the way, from the minute bidding starts to the drop of the gavel, all the way to the day your horse finally runs across the winning post.
By smoothing out the intricacies of the process, Nicoma Bloodstock enhances the overall experience for clients, setting them up for a rewarding journey in owning and racing a thoroughbred yearling.
“We celebrate the dream,” Headley Bell said, “making the purchasing process more than just a transaction but fulfilling a dream of ownership for horse racing enthusiasts.”
Partner With Nicoma Bloodstock
The team at Nicoma Bloodstock has redefined the process of buying thoroughbred racehorses, instilling it with professional passion, ethical guidance, and generations of experience. Making this potentially intimidating endeavor not just approachable, but truly enjoyable, is a testament to their commitment to excellence in the industry and the love they have for it.
Every champion was once a yearling, and buying one brings you closer to experiencing the rush of racing, the thrill of winning, and a lifelong appreciation for the industry. Choose Nicoma Bloodstock as your thoroughbred bloodstock agent as you set foot into the captivating world of horse racing.
If you’d like to begin a conversation with Headley Bell at Nicoma Bloodstock about potentially owning your own piece of thoroughbred racing history, contact us today at (859) 224-1000 or learn more here.