Ownership shares are available in the six-year-old mare, Tiffany. This top-class mare has won seven races to date, including at Group 2 level. She has also been placed in multiple Group 1 races. She is from an excellent family; her dam being a half-sister to the exceptional miler, Soviet Song.
The plan for Tiffany this year is to hopefully try to win a Group 1 race. She is likely to run in the first half of the season, have a break in the height of the summer, and then run again in the autumn when the ground is likely to be more suitable. Her best form is over a mile and a half.
She is scheduled to go to the sales again in December or may be sold privately before then if a substantial private offer is received. To clarify, all owners of shares in Tiffany will be entitled to a pro rata share of any sales proceeds, if Tiffany is sold.
Tiffany is trained in Newmarket by one of the most successful trainers in the country, Sir Mark Prescott, who has handled some of the best horses over the last few decades, including Pivotal, Alpinista and Marsha.
This syndicate term lasts until 1 March 2027, with no commitment to continue at the end of the syndicate period. Please click here for full details of the end of term process.
This syndicate is divided into 2,100 shares and each share costs £487 (including VAT). There will be nothing extra to pay, no matter what costs are incurred during the syndicate period. The syndicate is subject to the Elite Syndicates terms and conditions. The current maximum number of shares that can be purchased by one person is 50. There are no partners or others sharing this horse and therefore 2,100 shares represents 100% of the ownership of the horse.
- The share price is £487. The full price breakdown is:
- The attributed capital value of the horse was £750,000 which divided by the 2,100 shares works out at £357.14 per share.
- The pre-purchase vetting cost was £500 which works out at £0.24 per share.
- Our management and service provision fee is set at £14.38 per share.
- The all-inclusive racing/training/keep/vetting cost for the syndicate period (ending 1 March 2027) is £22.77 per share.
- The cost for mortality insurance (covered for £750,000) is £10.16 per share.
- The racehorse rehabilitation contribution is £1.14 per share.
- The VAT is £81.17 per share.
- There will be nothing extra to pay, no matter what costs are incurred during the syndicate period.
Given the large sums of money generated by the sale of one syndicated horse, it is important that owners understand how the price of each share is broken down. In addition, we openly publish the full terms and conditions governing each purchase, in plain language, on our public website pages. Each Elite Syndicates share is genuine racehorse ownership and not a cleverly disguised leasing arrangement or similar, where you don't own any part of the horse.
We have divided this syndicate into 2,100 shares, with a syndicate term period ending 1 March 2027.
There are no partners or others sharing this horse and therefore 2,100 shares represent 100% of the ownership of the horse and 100% of race prize money received from Weatherbys is divided equally with no deductions other than those referenced in term xlix.
We purchased Tiffany outright from the previous owner (our sister-company Elite Racing Club) for the sum of £750,000. This works out at £357.14 per share.
Horse purchase commission (for example, payable to a bloodstock agent or auction house), is applicable in many cases. There was no commission cost for this horse.
There was no transport cost.
All of our new horses are subject to a veterinary inspection prior to purchase, as we are required by law to take steps to satisfy ourselves that the horse is 'fit for purpose' (deemed suitable for training), in compliance with the Digital Markets Consumer and Competition Act 2024. The pre-purchase vetting cost for this horse was £500, which works out at £0.24 per share.
Where applicable, customs/import fees are payable. There were no customs/import fees for this horse.
The all-inclusive payment for entering and participating in races/training/keep/vet/farrier/etc throughout the syndicate period works out at £22.77 per share for this horse and is not contingent upon any other costs arising. Therefore, where the actual costs incurred are greater than the amount charged, the company stands the difference and where less, the company retains the difference. This policy means that we don't have to add any additional contingency fees and gives our customers peace of mind that there will be no additional costs.
The cost of mortality insurance for this horse is £21,332.50 (covered for £750,000), which works out at £10.16per share.
Our combined management and service provision fee works out at £14.38 for each of the 2,100 shares. This fee includes, but is not limited to, our administrative costs, staffing (the company has 40 members of staff), video production, race footage payments to Racing TV and Sky Sports Racing, monthly magazine production, postage and packing (if applicable), prize money distribution, information technology, VAT refund administration.
Once a racehorse retires from racing, and the syndicate period ends, the responsibility for all costs arising (which can continue for several years) passes to the company but is helped by the pooled 'racehorse rehabilitation contribution' which is currently set at £2,500 per horse, per annum, which works out at £1.14 per share. Should any surplus funds arise, they will be retained for the sole purpose of racehorse rehabilitation.
As a commercial syndicate, our business is required by law to pass 20% (the current rate of VAT) of the sum you pay for a share, to HMRC. VAT legislation cannot be avoided and rather than conceal this sum to gain a trading advantage by making it appear that you are not paying VAT, it is transparently and legally specified in our price breakdown. However, because Elite Syndicates is real racehorse ownership, we can submit a reclaim for this sum from HMRC on your behalf (if owners provide their National Insurance number), via the VAT Registration Scheme for Racehorse Owners (see Terms & Conditions). Therefore, for example, if you pay £60 for a share and HMRC successfully refunds the VAT of £10, it means that the share would cost you only £50. We make no deductions from the 20% refund, as it is part of our service provision.
The VAT for the Tiffany syndicate works out at £81.17 per share.
To summarise (cost per share)
- Purchase cost of the horse - £357.14 per share.
- Pre-purchase vetting cost - £0.24 per share.
- Management and service provision fee - £14.38 per share.
- All-inclusive racing/training/keep/vetting cost - £22.77 per share.
- Mortality insurance - £10.16 per share.
- Racehorse rehabilitation contribution - £1.14 per share.
- VAT - £81.17 per share.