Selling Races - "being bought in"

[numbersix]

I noticed today at Yarmouth ATR said the winner was "bought back in" by connections for 16,000.

Does this mean the owner has to fork out 16k to keep a horse he already owned? Surely this is ridiculous, and if it is the case why did connections run him in a seller? Or was it to win considerably more than 16k backing the horse off the boards safe in the knowledge he would win?

 

[trudij]

Im pretty sure what happens is that the owner is only billed for teh auctioneers costs - obviously he (or she!) cant pay themselves the money - so the horse stays theirs,for the cost of the fees.

but i could be wrong....

 

[numbersix]

I hope that is the case - it would be pretty harsh to have to pay to get your own nag back!

 

[Flame]

Trudi is pretty right that you pay the courses 12% (i think that's what they take now)