Would you participate in this draft?
by Trey Nosrac
Xander B. Hypothetical, aka the X-Man, decided to experiment in Ohio. He purchased fifty Ohio-eligible yearlings, twenty-five pacers, and twenty-five trotters. He also purchased four more as insurance in case of injury or illness. He bought these yearlings through the sales ring as usual. However, the unusual angle was that X-Man purchased these yearlings, all of them, for remarketing.
The bulk of the yearlings X-Man purchased sold in the $20,000-$30,000 range. A handful sold for considerably more, including a sales topper, while another handful sold for less than twenty thousand dollars. Most yearlings temporarily returned to the farms of the consignors, and others warehoused at a nearby farm. These sales were a busy time for X-Man.
The sales companies and individual yearling cosigners were pleased with the enthusiastic new bidder in the audience because sales prices increased with each of his bids. The day after purchasing his final Ohio-eligible yearling, X-Man created two lists for a pair of drafts, one for trotters and one for pacers. He planned to model them after the drafts held in other professional sports.
The list of yearlings in his draft appeared online, two simple pools of horses (there would not be sufficient time to compose and mail a paper catalog). The Spectacular First Annual X-Man Draft of Remarketed Prospects, Sleepers, and Suspects Yearlings was about to begin.
Below the list of yearlings that he posted; he explained his draft plan:
“If you wish to participate in this draft, you will need to pay $25,000 for a slot before noon on Dec. 1. The company will assume any yearling slots if less than 25 slots sell. There will be a drawing if more than 25 applicants apply for the draft slots. Each draft slot guarantees the purchaser will receive one of the 25 yearlings. You may purchase more than one slot, but a maximum of four.
“Participants can access prior sales prices at public auctions, videos, and pedigree pages.
“On Dec. 3, there will be a live-stream drawing for draft slots. This random drawing will be exciting and dramatic. At 2 p.m., a large board numbered 1 -25 (trotter division) will be filled with names drawn from a large bid of 25 identical plastic eggs. Drawing will continue until all slots fill. The board could look like this:
1st pick, Rick Butterfield, text 440 923 -7766
2nd pick, Myra Copperfield, text 678 934 -8865
3rd pick, The Sandbag Foursome Group, text 552 345-9112
“The official draft day will be Dec. at 2 p.m. (trotters) and 4 p.m. (pacers). All horses will be on the grounds by 10 a.m. You will be responsible for having a representative in the crowd to make the selection, be interviewed after the draft, and arrange transportation from the sales location. USTA representatives shall be on the premises for title transfers.
“After perusing the lists, you will believe some of these yearlings are well worth $25,000 and others are not. It is feasible that an early draft pick will give you access to a yearling valued at more than the slot fee you pony up, possibly much more, and of course, you may draw the last selection in the draft and end up with a yearling that you might not love. But nothing is certain. Individuals with later draft choices will have options. Everyone has options.”
Like drafts in other professional sports, you can be passive or active if you have a slot in the draft. You can merely hold onto your high draft choice or trade it. It is your draft slot. You could also trade your third draft slot to someone for two of their lower slots. You could resell. The possibilities are endless and intriguing, and the action can last until the moment the final draft pick comes off the board.
Draft day is exciting. Who will take what horse off the board? Who will be the best choice remaining when slot holders make their selection? Who will move up or down or trade or buy or sell? What a wild ride. What a great show. What a buzz.
Would you purchase a slot?