Macaroni wrote:So, I am not too well-versed in the sales stuff, so this may be a dumb question, but can someone answer this for me:
Brian Graves purchased the weanling filly by American Pharoah o/o Life at Ten and in an interview said the following:
"We intend to re-sell her next year," said Graves...American Pharoahs have been selling well. She's out of a grade 1 winner and she's all class, so we'll take a shot."
What is the point of that?
It's called pin-hooking and is pretty common on the commercial side of breeding. If the filly continues to develop nicely, he stands to make a profit. Pin-hookers have to balance the purchase price for and care of the weanling for about a year against the potential yearling sales price. They have to hope nothing happens to the weanling in that year, too. It's a bonus if any relatives of the weanling win stakes and enhance the weanling's catalog page. There must be potential profit in it because, as mentioned, pin-hooking is pretty common.