Reining horse enthusiasts will have a new sale venue for buying and selling horses in 2016 with the debut of the World Breeders Sale in Whitesboro, Texas. The sale, which will be held on Oct. 20 at the Jared Lesh Arena, is expected to offer 100 head of reining prospects and broodmares.
“We’ve been talking about it for a long time, and there are a bunch of us that got together to do it,” said Rick Ford, who owns Cinder Lakes Ranch and is managing the sale. “We are all breeders that are involved and from all over the world – Italy, Great Britain, Mexico, South America, the United States. That’s why it’s the World Breeders Sale.”
Far from being just another horse sale, Ford hopes the World Breeders Sale will revolutionize the way horses are bought and sold in the Western performance industry.
“It’s a 5 percent commission sale, which is more in line with other industries that are growing at a faster pace,” said Ford, who is currently serving his last year as chairman of the National Reining Horse Association (NRHA) sale committee. “The sale company not taking as much gives the breeder the opportunity to make more and it gives the agents an opportunity to get involved. We just want everybody to make more money.”
Currently, industry standard commission rates in Western performance horse sales are approximately 8 percent. In addition to its lower commission, the Worlds Breeders Sale also offers a lower consignment fee of $250. In comparison, at the NRHA Futurity Sales, entry fees range from $350 to $750, depending on the session. At the National Cutting Horse Association Futurity Sales, consignment fees range from $900 to $1,500 with an 8 percent commission and no repurchase fees.
The World Breeders Sale’s lower consignment fee and commission are offset by a pass out fee of 2.5 percent on final bids of $10,000 or more. Sellers who repurchase horses for less than $10,000 will not pay a pass out fee. Pass out fees are uncommon in Western performance horse sales, though they are standard practice at Thoroughbred sales.
“I just got back from the Saratoga horse sale, and we’re going to try to bring a little bit of what I’ve learned in the Thoroughbred business to our sale,” Ford explained. “Honestly, not everything fits, but I think there are some things [the Thoroughbred industry does] that people like and want in this business.”
Ford said plans are underway for the World Breeders Sale to feature a live internet feed and telephone bidding. The sale will take place one day prior to the Legacy Reining Breeders and Consignment sales, which are scheduled for Oct. 21-22 at Cardinal Reining Horses in Aubrey, Texas. Ford stressed that the date of the World Breeders Sale was not chosen to compete with Legacy’s existing sale dates.
“This is about the future of the horse industry and making all of us grow, not about trying to put somebody out of business,” Ford said, adding that he had hoped to hold the sale earlier in the year but could not secure a suitable date. “We are going to be very buyer and seller friendly. There’s a little bit of a reputation in horse sales that it’s where the bad horses go to go away. We want to give everybody the tools they need to buy with comfort. We’re going to try to make sales the place to do business.”