Venturing into racehorse ownership can be a daunting process, so we have some useful tips below to help demystify our exciting industry. If you've ever been interested in buying and racing a horse, but haven't known where to start, then the information here should help.

Where to start?

1. Find an Expert

Our advice is to identify an expert - usually an agent, trainer or syndicator - who you would like to help you find what you're looking for. It might be someone you have heard of, or known to you through friends, either way, we can assure you they will love to hear from you. Some useful places to start are:

• Choosing a Trainer- New Zealand Thoroughbred Racing (NZTR) discusses factors which you may like to consider when making your choice of trainer.

• Authorised Syndicators - Authorised Syndicators are bound by a set of rules laid down by NZTR, ensuring the transparency and integrity of those racehorse syndicates for its members. This is the list of NZTR's Authorised Syndicators in New Zealand.

• Bloodstock Agents - These agents are skilled at identifying a prospective racehorse to buy, and judging how much it will cost. Here is a list of reputable agents who are members of the NZ Bloodstock Agents' Federation.

• Contact New Zealand Bloodstock's own Sales Representatives Clint Donovan and Danny Rolston. They can offer you advice about any part of the purchasing process from identifying the right horse, to inspecting, bidding, buying and what to do next.

2. Consider Your Budget

Then you should give consideration to how much you are willing to spend on your new venture. There is a full spectrum of horses for every budget, big or small, so start with an idea of how much you can afford, taking into consideration the purchase price, insurance, training fees, vet bills, etc. Your expert will give you an idea of what you can expect to pay in costs for a year, or you can have a look at this guide.

3. What Type of Ownership?

Give some thought to the kind of ownership you would prefer:

• Outright Ownership: Buying 100% of a horse on your own means the riches and trophies don't need to be shared with anyone! But it also means footing 100% of the bills.

• Shared Ownership: Sharing the ownership in a horse can mean sharing the fun as much as sharing the expenses. You might already have some friends or family that would be keen to jump in with you, but even if you don't, you can let your expert know that your preference is to just take a share in a horse and they will happily try to put a small group together for you. Partnerships can be from one to 10 people, but the Rules of Racing require that any ownership groups of more than four people require a 'Racing Manager'.

• Syndication: A great way to share the risk and reward is by getting involved in a racing syndicate. You might get a chance to race a horse that you couldn't afford to own outright, plus it's a great way to meet people who share a common passion. The minimum number of people for a syndicte is five, but there is no maximum. One of the benefits is having a Syndicate Manager who has a reponsibility to keep everyone informed.

4. Get Armed with Information!

The more information you have the sooner you'll be ready for action. There are lots of handy guides to buying and racing horses - we have a couple here:

• An Investment That Really Gallops  - An introduction written by journalist and Trackside presenter Aidan Rodley on buying your first horse.
• How to Buy a Horse from Karaka  - NZB'sguide to the horse-buying process.
• Decoding The Jargon -The thoroughbred industry has its own jargon that can prove daunting to even the most experienced industry person. Get a handle on the most commonly used words and phrases.
• New Zealand Racing FAQs - Got a few simple racing questions that you need answered?

5. Pick up the Phone

Start the ball rolling by getting in touch with your chosen expert or by coming out to Karaka on saleday to soak it all in. If you want to go it alone, call in to our Saleday Office and the team there will take you through the buying process step-by-step. If in doubt, give any of our bloodstock agents a call and they will be happy to answer any of your questions.

6. Have Fun!

Winners and champions come from a range of budgets and backgrounds making racing glory within reach of every owner. Below are just some of the stars of the turf from the recent and distant past, showing the magic that is possible when you take the plunge and embark on thoroughbred racehorse ownership. So good luck and have fun!