Over the past decade the sale of the form horse, and in particular Irish point-to-pointers, has moved from the private deal to public auction.

The creation of the niche sales at Cheltenham increased the visibility of the point-to-point form, which has transferred on to track success.

Some owners and handlers remain unsure about the pros and cons of selling publicly and The Irish Field asked me to write this article to help clear up any confusion.

The issues surrounding a private sale are often complex. Ultimately the decision to sell at home can be down to individual preferences and circumstances.

Let us assume you are fortunate to own or train a four-year-old point-to-point winner, a bumper winner or indeed a jumping prospect off the flat. Very soon your phone rings, together with an invitation to enter the horse in a public sale.

You are asked if you are interested in selling and what price have you in mind. Difficult as it is, particularly as you should be able to savour the joy of winning, decisions need to be made.

Once you mention your price expectations, you have put your horse into play with potential downside. Putting a price in the current market will be no easy call. You will run the risk of asking too much which will affect a potential private sale and also the sale at a public auction. Ask too little and you affect your own pocket.

One of the big considerations/implications for owners/handlers is that if you have more than one horse in training, the next winner you have will be more difficult to sell, as potential purchasers could form the view that if it has potential why did you not sell it to the person who bought your last horse privately.

In terms of selling privately versus public auction, a veterinary examination will take place in respect of both. Therefore there should be no advantage in selling at home versus a select sale.

In the current climate the big advantage of the public sale is that the market values your horse.

That market will include potential purchasers who will not travel or send someone to look at your horse in Ireland. The market knows this, hence the pursuit of the purchase at home.

The public sale (preferably at Cheltenham) offends nobody, but maximises for you the sale price which must be your main objective.

There are, of course, additional costs when you sell at public auction, including transport, staff costs and sale’s company fees. The costs can be estimated, but it comes back to costs versus value. The value in the sales ring is additional customers for your horse, and one or two additional bids will more than cover the additional costs compared to the private sale.

Sales companies generate their income based on the price of the horse in the sales ring. Therefore there is an incentive to ensure that, through the promotion of the sale, the maximum price is achieved in the sales ring.

The potential purchaser is motivated by the choice of horses on offer, while the buzz and excitement of the sales ring complements the objectives of all owners, which is success on the track.