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Re: Alex, the bottom line. (591 Views)
Posted by: Mall (IP Logged)
Date: June 14, 2005 05:46PM
There are many reasons why the cost of insurance, assuming it's even available, has become prohibitive, & most have very little to do with the increase in the value of horses. Stallions with the same & higher values could be insured at much lower rates 10, & even 5yrs ago, & there were a lot more than the six Lloyd's syndicates which currently participate in the market. Many left after suffering huge losses, but the competition for capital has played an important role. Thus, when the last major Am carrier, Chubb, announced it was withdrawing from the market last yr, it acknowledged that the business was profitable, but left to deploy its capital in lines which were more profitable.
The yearling market is an international one, & many of the most expensive horses are purchased by foreign interests. Given the depressed value of the dollar in recent yrs, & the size of their purses, it might make perfect sense for a Japanese buyer to pay a great deal more than an American buyer for the same yearling. And many of the Arab buyers are, for obvious reasons, not constrained by economic principles. American racing suffers, but it's hard to blame a breeder for trying to produce a horse which will bring the highest price from whoever's willing to bid at a public auction, especially if you keep in mind that most breeders, like owners, lose money.
Alex, the bottom line. (1079 Views)
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Mall |
06/14/2005 09:30AM |
Re: Alex, the bottom line. (687 Views)
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HP |
06/14/2005 10:21AM |
Re: Alex, the bottom line. (647 Views)
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Silver Charm |
06/14/2005 11:59AM |
Re: Alex, the bottom line. (4200 Views)
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06/14/2005 03:09PM |
Re: Alex, the bottom line. (561 Views)
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HP |
06/14/2005 04:53PM |
Re: Alex, the bottom line. (491 Views)
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06/15/2005 05:41PM |
Re: Alex, the bottom line. (591 Views) |
Mall |
06/14/2005 05:46PM |
Re: Alex, the bottom line. (490 Views)
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06/15/2005 05:54PM |
Re: Alex, the bottom line. (486 Views)
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magicnight |
06/15/2005 06:46PM |
Re: Alex, the bottom line. (511 Views)
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06/15/2005 07:23PM |
Re: Alex, the bottom line. (449 Views)
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bdhsheets |
06/16/2005 01:09AM |
Re: Alex, the bottom line. (441 Views)
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06/16/2005 08:33AM |
Re: Alex, the bottom line. (544 Views)
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Mall |
06/15/2005 08:29PM |
Re: Alex, the bottom line. (499 Views)
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SoCalMan2 |
06/16/2005 03:02AM |
Re: Alex, the bottom line. (498 Views)
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06/16/2005 08:29AM |
Re: Alex, the bottom line. (483 Views)
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Chuckles_the_Clown2 |
06/16/2005 10:36AM |
Re: Alex, the bottom line. (473 Views)
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richiebee |
06/16/2005 11:28AM |
Re: Alex, the bottom line. (472 Views)
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Chuckles_the_Clown2 |
06/16/2005 12:09PM |
Re: Alex, the bottom line. (460 Views)
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richiebee |
06/16/2005 12:38PM |
Re: Alex, the bottom line. (536 Views)
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06/16/2005 01:40PM |
Re: Alex, the bottom line. (501 Views)
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06/16/2005 10:35AM |
Re: Alex, the bottom line. (460 Views)
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HP |
06/16/2005 10:45AM |
Re: Alex, the bottom line. (530 Views)
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06/16/2005 11:04AM |
Re: Alex, the bottom line. (476 Views)
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JimP |
06/16/2005 11:59AM |
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