5 Most Common Syndicators Tricks - Part 2
Trick Number 4. The "Missing" Vet & Valuation report. Amazingly, some companies only offer the Vet report and Valuation Report “on request”! HELLOO!!! They’re required by law to be included in the Promotors Disclosure Statement for each horse offered to the public! Now, if the syndicator can get this by the Lead Regulator, then really we have to blame the Lead Regulator for not doing their job. Incredible that it happens-but true. You shouldn't have to request these documents-they should be automatically provided.
Trick Number 5. The Hidden Deal. This is where a horse is seemingly purchased by the syndicator for a certain price but the deal is actually done at a much lower price. It’s done because syndicators are required by law to reveal how much they have paid, (wholesale) for a horse before it’s offered to the public. Many are embarrassed by huge mark ups, and so this is a convenient way of getting around it, and hiding the truth, (of an excessive mark up). Example; A horse is stated to have cost $35,000 in the Promoters Disclosure Statement, however on investigation, we find that it was actually passed in at a recent yearling sale, having a reserve of just $20,000. So why now is it nearly double when it could have been bought weeks earlier for $20,000? Hmm, again-you’ve just been had!
There are plenty of other things to be wary of too. Too many for me to go into in this article. Let’s face it, when certain other syndicators read this, (cos they will for sure!), I probably won’t be “flavour of the month” with them….but I think you get the general idea.
I’ve learnt the hard way. In the early days I made mistakes. We all do. I’ve trusted bloodstock agents-only to be sold a horse with three legs. I assumed I didn’t need x-rays! Wrong! I’ve been targeted for dodgy deals. I’ve seen first hand, the above things happen all the time. They’re still happening, and when you know where to look and how to find them, they’re all over the internet!
Trust is a great thing. I was raised by strict parents who, amongst other things, instilled in me the two qualities of honesty and integrity. Qualities that are severely lacking in the majority of society today.
I've Got A Confession to Make...I “robbed” a bloke when I was 10. Pushed along by peer pressure, I gave him the old “I’ve lost my bus money and can’t get home” trick. He was a simple factory worker who had just finished his shift. The older boys pushed me towards him where I sold him the sob story. He fell for it hook, line and sinker. He reached into his bag and took out a small leather purse. As this dear old man took a few pennies out and placed them in my hand, he looked me in the eye and said with a smile on his face, “A friend in need is a friend indeed”. I’ll never forget that look-or those words. I thanked him, off he walked, and off I walked back to the gang who were hiding around the corner. They crowded around me, eager to see how much I’d got. I placed the few coins in the nearest hand-totally uninterested in the “booty” and turned away, feeling pretty low about what I’d just done.
I knew that’s not how I’d been brought up. I came from one of the wealthiest families in Nottingham! I was sickened by my actions and vowed and declared there and then that I’d never “rob” anyone ever again.
I was 10 then, and now I’m 44. Proudly, I can honestly say that I’ve stuck to my word. And I’ve instilled the same honest qualities in my three children. When one of my twins put $2 in a vending machine and TWO toys came out instead of one, she didn’t think twice about going straight into the shop and offering the “spare” toy back to the shopkeeper. Now THAT’S honesty for you!
When you do business with me, you know that everything is above board. I have testimonials given by people from all walks of life to verify my honesty and integrity. But proudly, I must tell you this story…
A few years ago, a motivational speaker was giving a talk, and this particular section was on business ethics. He pointed me out as an example of a good businessman who adhered to strong business ethics. One “wag” in the crowd made a smart comment about me being a “horse trader” and compared me to a “dodgy car dealer”. Without even pausing to think, my friend, the internationally recognised speaker, Mr Brian Leaning-Mizen who had known me for nearly 6 years, and was a client of mine, looked this guy straight in the eye and said, “Let me tell you, that Peter Morley is one of the most pleasant, fairest and most honest men I have ever met in my entire life. As a matter of fact, if you catch Peter telling you a lie, YOU CAN HAVE MY HOUSE”!
A small number of the audience clapped Brian for saying this. The rest were stunned. With the exception of my wedding day, it was and still is, the proudest moment of entire life.
Doing business with people is all about trust.
My clients live all over Australia. Before you do business with me, please ask for the telephone number-NOT of someone that I’ve pre selected- but of one of my clients who lives near you. I’m sure they’ll have good words to say.
And if we do end up racing a horse together, I wish you all the luck in the World, and I’ll go out of my way to ensure you have plenty of good fun!
Trick Number 5. The Hidden Deal. This is where a horse is seemingly purchased by the syndicator for a certain price but the deal is actually done at a much lower price. It’s done because syndicators are required by law to reveal how much they have paid, (wholesale) for a horse before it’s offered to the public. Many are embarrassed by huge mark ups, and so this is a convenient way of getting around it, and hiding the truth, (of an excessive mark up). Example; A horse is stated to have cost $35,000 in the Promoters Disclosure Statement, however on investigation, we find that it was actually passed in at a recent yearling sale, having a reserve of just $20,000. So why now is it nearly double when it could have been bought weeks earlier for $20,000? Hmm, again-you’ve just been had!
There are plenty of other things to be wary of too. Too many for me to go into in this article. Let’s face it, when certain other syndicators read this, (cos they will for sure!), I probably won’t be “flavour of the month” with them….but I think you get the general idea.
I’ve learnt the hard way. In the early days I made mistakes. We all do. I’ve trusted bloodstock agents-only to be sold a horse with three legs. I assumed I didn’t need x-rays! Wrong! I’ve been targeted for dodgy deals. I’ve seen first hand, the above things happen all the time. They’re still happening, and when you know where to look and how to find them, they’re all over the internet!
Trust is a great thing. I was raised by strict parents who, amongst other things, instilled in me the two qualities of honesty and integrity. Qualities that are severely lacking in the majority of society today.
I've Got A Confession to Make...I “robbed” a bloke when I was 10. Pushed along by peer pressure, I gave him the old “I’ve lost my bus money and can’t get home” trick. He was a simple factory worker who had just finished his shift. The older boys pushed me towards him where I sold him the sob story. He fell for it hook, line and sinker. He reached into his bag and took out a small leather purse. As this dear old man took a few pennies out and placed them in my hand, he looked me in the eye and said with a smile on his face, “A friend in need is a friend indeed”. I’ll never forget that look-or those words. I thanked him, off he walked, and off I walked back to the gang who were hiding around the corner. They crowded around me, eager to see how much I’d got. I placed the few coins in the nearest hand-totally uninterested in the “booty” and turned away, feeling pretty low about what I’d just done.
I knew that’s not how I’d been brought up. I came from one of the wealthiest families in Nottingham! I was sickened by my actions and vowed and declared there and then that I’d never “rob” anyone ever again.
I was 10 then, and now I’m 44. Proudly, I can honestly say that I’ve stuck to my word. And I’ve instilled the same honest qualities in my three children. When one of my twins put $2 in a vending machine and TWO toys came out instead of one, she didn’t think twice about going straight into the shop and offering the “spare” toy back to the shopkeeper. Now THAT’S honesty for you!
When you do business with me, you know that everything is above board. I have testimonials given by people from all walks of life to verify my honesty and integrity. But proudly, I must tell you this story…
A few years ago, a motivational speaker was giving a talk, and this particular section was on business ethics. He pointed me out as an example of a good businessman who adhered to strong business ethics. One “wag” in the crowd made a smart comment about me being a “horse trader” and compared me to a “dodgy car dealer”. Without even pausing to think, my friend, the internationally recognised speaker, Mr Brian Leaning-Mizen who had known me for nearly 6 years, and was a client of mine, looked this guy straight in the eye and said, “Let me tell you, that Peter Morley is one of the most pleasant, fairest and most honest men I have ever met in my entire life. As a matter of fact, if you catch Peter telling you a lie, YOU CAN HAVE MY HOUSE”!
A small number of the audience clapped Brian for saying this. The rest were stunned. With the exception of my wedding day, it was and still is, the proudest moment of entire life.
Doing business with people is all about trust.
My clients live all over Australia. Before you do business with me, please ask for the telephone number-NOT of someone that I’ve pre selected- but of one of my clients who lives near you. I’m sure they’ll have good words to say.
And if we do end up racing a horse together, I wish you all the luck in the World, and I’ll go out of my way to ensure you have plenty of good fun!
posted by Liam Webb at 11:10 am
0 Comments:
Post a Comment
<< Home