Wardlow / How we work
How we work
The process, the fees and the questions people are too polite to ask. Read it before you ring — it will make the conversation shorter and better.
The process
Six stages, and you approve the second one in writing
Half an hour on the telephone or in the office. What you want to achieve, what you want to spend, and how involved you want to be. If we think you would be better served elsewhere we will say so at this stage.
We put your objective in writing — budget, type of horse, target races, expected timeline — and you approve it before we go anywhere near a sale. Everything after this is measured against that document.
We work the catalogue two to three weeks out and give you a shortlist with our reasoning attached, including the ones we rejected and why.
We see every horse on the shortlist in the flesh, usually more than once. Vetting is arranged and reviewed before the horse enters the ring.
We agree a ceiling with you beforehand and we do not exceed it. You are welcome to stand with us; plenty of clients prefer to be on the phone.
Placement, insurance, transport and a weekly line of communication. Ninety per cent of this job happens after the hammer falls.
Fees
What we charge
Published in full. If an agency will not tell you this before a meeting, that is information too.
The industry standard rate. Charged on purchase only — if we do not buy, you do not pay. No retainer and no charge for shortlisting or inspection.
When we sell on your behalf. Consignment costs are billed at cost with the invoice attached.
Covers the administration, the reporting and the phone calls. Billed monthly, cancellable with a month's notice, no minimum term.
Written and defensible, suitable for insurers, HMRC and the courts. Fixed quote before we start.
We are paid by the stud on nominations we place. You will be told which stallions we have a commercial relationship with, every time, in writing.
Questions
Before you ring
Training fees in Newmarket run to roughly £3,000 a month, before vets, transport, farriery, insurance and entries. Budget £45,000 a year all in for a horse in full training. We will give you a written estimate for your specific plan before you buy anything.
You can buy a horse that wins races for £20,000. You cannot reliably buy one that wins Group races for that. We would rather place you correctly at the level you can sustain for several years than sell you one expensive horse and never hear from you again.
No. We have no financial relationship with any trainer and we will tell you if that ever changes. If you already have a trainer, we work with them.
Plenty of clients do. We shortlist, inspect, advise on a ceiling and stand next to you. The commission is the same.
Yes, on nominations we place — that is how the nominations side works across the industry. We disclose it in writing every time, including which stallions we have a commercial relationship with, so you can weigh the advice accordingly.
Yes, and we do it often. Insurance, probate, tax and dispute work makes up a decent part of what we do, and it is entirely independent of whether we sourced the horse.
We tell you early. The most valuable thing an agent does is say a horse has reached its level, before you spend another year of training fees finding out.
Anything not covered here, ring James on +44 (0)7700 900418.