Acquisition of a horse via private sale is not as common as claiming or purchasing one at public auction. However, this method of purchase can offer more value and variety, as well as increased security than the other two methods of purchase.
The first step in the process is to select the horse or horses you wish to purchase, and contact the agent involved with the horse. The horse may or may not be advertised for sale. One that is not offered for sale can likely be purchased for a high enough price.
Next, your chosen team should inspect the horse personally, either by yourself or by your chosen bloodstock agent, trainer, or other industry professional. If all goes well, your veterinarian should perform a thorough pre-purchase exam where he or she will take radiographs of joints, perform a throat scope, draw blood to be tested, and likely determine reproductive health.
The final step is to negotiate a price and receive the bill of sale. The price of the horse will reflect his or her age, breeding, race record, soundness, future capability both as a racehorse and a breeding animal, and maybe even sentimental value. Your job as the buyer in this stage is to determine the horse’s worth at that moment, as well as in the future. You are free to negotiate the price of the horse with the agent or walk away from the offer if you believe the price is too high. If you purchase the horse, a bill of sale should be offered to protect both parties and provided to the insurance companies. You will receive a copy of the Jockey Club papers, as well as necessary health papers at this time.