Peter Moody and David Moodie attend an Inglis function at Circular Quay to launch the Easter Yearling Sale. Source: News Limited
AS leading auction houses yesterday defended the horse sale industry amid accusations of rorts, Racing Victoria announced it would investigate whether the industry was in need of reform.
While insisting Inglis and Magic Millions acted with integrity, the Australian Racing Board has revealed it and other industry bodies had received numerous complaints about alleged dummy bidding and "rogue'' bloodstock agents.
Inglis chief executive Mark Webster insisted talk of widespread dummy bidding was "speculation'' and said his company was unaware of pre-sale deals and condemned such activity.
ARB chief executive Peter McGauran said breeders had fought hard against a new ARB rule that outlawed the use of anabolic steroids on all horses, from yearlings to racehorses.
McGauran said a "new era'' of transparency and integrity had put aspects of thoroughbred breeding and auctions on notice.
Leading breeder and Racing Victoria board member David Moodie said on Sunday occasional dodgy practices were a blight on the industry, mainly at yearling sales. He insisted most acted properly.
Moodie said pre-sale deals and dummy bidders were not widespread but were common enough to affect overall confidence.
Moodie also criticised sales companies for offering buyers extended periods of credit. Inglis was left with more than $5 million in debt after the collapse of BC3.
Racing Victoria chief executive Bernard Saundry said RVL would contact the Australian Securities and Investments Commission regarding codes of conduct in the horse sale industry.
"We don't know what the answers are, but we are keen to look into it over the next few months, to see if customers were properly protected and, if not, what can be done,'' Saundry said.
Black Caviar's half-brother "Jimmy" fetched $5 million at the Easter Yearling Sale. Picture: Bruno Cannatelli Source: Supplied
The heads of Australia's two major sales companies, Inglis and Magic Millions, said rorts were not widespread.
Vin Cox, head of Magic Millions, said market forces usually ensured the integrity of any sale.
Cox and Webster said providing extended periods of credit to buyers was crucial to the buying and subsequent syndication of horses.
"If we stopped giving credit, the whole system grinds to a halt,'' Webster said.
"We'd love for everyone to pay on the day, but it just doesn't work that way. Trainers will buy a horse like that and go back to their clients and syndicate it out.
"If anyone can come up with a better system, please let me know. There isn't one.''
Webster said beleaguered BC3 had been given strict 30-days terms to settle the $5 million account for Black Caviar's half brother, "Jimmy".
"But they couldn't meet their obligation, simple as that,'' Webster said.
Webster conceded "there could be a need for reform in some areas'' but said 99.9 per cent of buyers and sellers "meet their obligations''.
Webster said Inglis provided free and accurate advice to consumers about the "true'' value of horses to be sold at auction.
Henty Plumptre, head of Darley's Australian operation, said rorts were "absolutely rife'' at horse sales in Britain and the US in the 1970s and 1980s but modern sales could be trusted.
Anda sedang membaca artikel tentang
Criticism drives horse sales probe
Dengan url
http://sportifoclube.blogspot.com/2013/12/criticism-drives-horse-sales-probe.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Criticism drives horse sales probe
namun jangan lupa untuk meletakkan link
Criticism drives horse sales probe
sebagai sumbernya
0 komentar:
Posting Komentar