Riding a smart bid to pick a future winner

Even as the dust on the tracks of the Mahalaxmi race course settled down in the wake of the recent Mumbai derby, future winners were on parade in Pune.
The annual horse auctions have been in progress this week in Pune and though most of the major deals had been struck by Friday, the public auction (two-year-old bloodstock) drew an enthusiastic response from a burgeoning population of racing enthusiasts.
Oblivious to the fact that their coat, construction, soundness, tails and breeding were under strict scrutiny, 22 horses were waiting to go to new owners when the auction began at 3 pm.
Out of the 350 odd horses that trotted into the city at the beginning of the week, these were the last 22 remaining. Twenty-year-old breeder Padmanabh Ruia, who sold most of his horses earlier, says, "The selling starts a day after the derby, which is on the first Sunday of February."
Maharaja Rajendra Singh Idar, who brought in 45 horses this year, reveals that he has already sold 40. "Today, I have just five horses. Let’s see how much they go for. The Maharashtra government charges 15 per cent sales tax. So how is one supposed to buy a horse? It’s no longer a lucrative business, just a hobby. A really good horse goes for Rs three lakh, but the not-so-great ones can go for anything between Rs 10,000 and Rs 60,000."
Over the years, the quality of horses has drastically improved. Says buyer Vijay Khanna, "With breeders importing horses, the quality has gone up."
The first bid invariably takes a long time kick-off. Thereafter, it picks up like a colt on the home straight. One of Idar’s horses rolls in and an initial bid is made.
One particular person bids furiously till the price reaches Rs 50,000. He then backs off.
He is of one several dummy bidders, who ensure the bids go high enough. They are not there to buy, of course.
A breeder, who prefers to remain anonymous, tells us that insiders know which stud farm can be trusted. "This one is bankrupt," he says pointing to a smallish colt, "Which is why they give them steroids, not food."
Dr Vijay Khanna, who has been inspecting horses for the last 15 years says, "Qualities apart, what’s most important is the pedigree."
A filly walks into the arena. Her bid goes as high as Rs 1,42,000. Not good enough. Her breeder has reserved her sale at Rs 1,43,000. Since nobody is willing to pay the amount, she is declared ‘bought in’, which in racing terms means not sold. There is no horse-trading when it comes to some horses you discover.