In one of horse racing's greatest cases of buyer's remorse in recent memory, Australian owner Rob Ferguson will sell off the 22 yearling fillies he purchased during a self-described “medical episode” during this year's Magic Millions National Yearling Sale in June, Racing Post reports.
Ferguson, who purchased the horses anonymously at the sale as “Louis Bloodstock,” suffers from a lung condition, and he was in the process of being taken off steroids by his doctor, which Ferguson said can trigger side-effects including feelings of invulnerability and euphoria. In the midst of his mania, he racked up purchases totaling nearly $1 million Australian (about $690,000 in U.S. dollars). The “Louis” in his nom-de-sale ticket, is named after Ferguson's dog.
Though the buying spree was allegedly impromptu, occurring over the span of about three hours, Racing Post reports that Ferguson paid for his sudden purchases without issue. Ferguson is a longtime owner and breeder, and he once held a 25 percent share in the Magic Millions auction company.
The yearlings will be dispersed during the Magic Millions September Online Sale on Sept. 5, offered at a reserve of 50 percent of their original purchase price.
“Obviously it looks like I am going to show a loss, as I'm willing to take a haircut on each horse,” Ferguson told the Racing Post. “But it was never my intention to own these horses. When I purchased these fillies, I am sure I made a lot of vendors happy. This time around I will probably be making a lot of buyers happy.”
Read more at Racing Post.
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