In fact I was so impressed with Myracehorse.com’s (MRC) yearling deal, I decided to make a small investment in a single horse.
I really liked a Dialed In colt they bought at the March Ocala sale. The dam, Wonder Upon a Star, is by stamina influence Street Cry, and the second dam has produced two $1,000,000+ horses. MRC only paid $140,000 for a horse with a nice 21.2 work, and a decent pedigree. The horse has a good looking photo on their website. The Truenicks rating is A.
MRC is selling .01% for $37, so I bought 10 shares for $370. Just a few clicks and the transaction was done. MRC charges 2 full years of prepaid expenses up front. It will be interesting to see how their accounting system works. I doubt I would have bought 1% for $3700, but the ability to buy a small position was a factor in my decision.
I think the concept of “microshares” is a good idea, and could be the future of partnerships. I think the issues around MRC’s investment in Authentic are complex, and I see both sides of the argument. I still worry that MRC is a little “over-promotional”, but I am a grumpy old man who has that same opinion of many businesses.
That brings my number of real horses back to 6.
Buying A Race Horse 