# Babcock Ranch Bankruptcy Sale



## QHDragon

Emergency Liquidation Sale of Babcock Quarter Horses Inc. Update - Quarter Horse News - The News Magazine of the Performance Horse Industry

200 horse all for one bid. :shock: That is a lot of horses to take on at one time.

Sad to see such a huge farm that has been a driving force in the QH industry going into bankruptcy like this.


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## ShutUpJoe

Wow they went under.....


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## smrobs

It may just be me, but that seems like a very silly way to handle that. They won't get nearly as much for the stock selling it as one lump item because I bet there's not just a whole lot of people that have a couple hundred thousand dollars just hanging around. I looked at the inventory and they have some super well bred stock. $1000 a piece would be an absolute steal but I bet they won't even get that much the way they are doing it.

Dang, get a couple of those 2/3/4 year olds, put 30 days on them to give a good foundation and you could easily double or triple your money. Wish I had the time or money to look into getting a couple.


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## reining girl

wow. that is really sad. Wish i had some money


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## ShutUpJoe

Really, they've listed Lucky Little Lena!


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## reining girl

i think there kinda shooting themselves in the foot. If it were me i would put on a "dispersal" sale and sell each horse sepratly, not all of them at once. They going to get thousands less by selling them all in one lump, than if they sold them all sepratly. I just cant believe that they went into bankruptcy, i mean they were one of the biggest reining/cutting horse ranches around! But i guess sometimes you get to big for your pants and star buying and spending more money than your making. So so sad though.


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## smrobs

Those are my sentiments exactly. I have watched some of those ranch dispersal sales on TV and for stock that wasn't bred nearly as well as some of this, they were getting up to $5000 a head.


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## QHDragon

smrobs said:


> It may just be me, but that seems like a very silly way to handle that. They won't get nearly as much for the stock selling it as one lump item because I bet there's not just a whole lot of people that have a couple hundred thousand dollars just hanging around. I looked at the inventory and they have some super well bred stock. $1000 a piece would be an absolute steal but I bet they won't even get that much the way they are doing it.
> 
> Dang, get a couple of those 2/3/4 year olds, put 30 days on them to give a good foundation and you could easily double or triple your money. Wish I had the time or money to look into getting a couple.


I agree. I wonder if the bank is forcing them to do it that way?

I would think they would get much more for each horse selling them one by one, there are some really nicely bred horses in there!

They are selling Captain Nice too.


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## smrobs

I kinda wonder if they will get any bids on it at all. Those people who actually have the money to spend such a pretty penny all at once generally already have their herds established and certainly don't have space for an extra 200+ head.

I am really tempted to call them here closer to the closing date and see if they have got any bids and if they would accept a bid for a couple of head by themselves. I mean, after all, my brother does need another horse.


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## NinthHeroine

Wow. I don't know much about them but it's sad they're going under :-/ By the time a business gets to bankruptcy, it's pretty much an emergency, so they most likely just don't have the time to sell every horse individually... bankrupt businesses need money asap, even if it means less in the long run.

Wish I lived near texas and could pick a few horses up x_x


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## reining girl

i still cant believe they went under... just so sudden. Whoever ends up getting those horses, will have literly struck a gold mine (wish it was me !)


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## farmpony84

That's poopy...


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## QHDragon

NinthHeroine said:


> Wish I lived near texas and could pick a few horses up x_x



Meeee toooo. :shock:


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## franknbeans

Really a shame. These days tho, the financiers are very short sited in many cases. Pretty much "cut off their noses to spite their face", so to speak. They are business people, and want $$ now. They don't listen to reason, being that you could get so much even if they had eaited for the dispersal sale that was already scheduled. That said, the owners had to know that something was coming, and perhaps should have done something to market at least SOME of these horses.
Very true-there are VERY, VERY few people who can not only come up with the $$, but take 200 head.....like now.
Very sad. Just hope the horses end up ok in all this mess.


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## reining girl

here is a forum that is discussing this also and they have alot more info on it, some of it is interesting... Viewing a thread - Babcock ranch bankruptsy sale....


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## nrhareiner

reining girl said:


> i still cant believe they went under...


I'm not.


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## reining girl

there now also selling the two stallions Trashadeous and Cowboy Smarts Babcock Ranch Liquidation


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## reining girl

how come nrhareiner??


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## QHDragon

Wow, sounds like Waggoner Ranch is going under too, selling everything but High Brow Cat. Sad, sad, sad.

I read some of the theories on the barrel racing site, and I would hope the better of Babcock ranch.


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## QHDragon

reining girl said:


> there now also selling the two stallions Trashadeous and Cowboy Smarts Babcock Ranch Liquidation



Wow. I love both of those stallions. :-(


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## nrhareiner

reining girl said:


> how come nrhareiner??


Lets just say they do not have the best rep in the industry and a lot of people will not deal with them. Just look at their site and how they are advertising Trash. If they can not be truthful about that what else are they not being truthful about?


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## reining girl

true ture, very true. guess it was just a matter of time, burned one to many bridges. QHdragon, the owners of the Waggoner ranch are getting a divorce, thats why there selling.


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## QHDragon

Whats wrong with how they are advertising Trash?


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## nrhareiner

QHDragon said:


> Whats wrong with how they are advertising Trash?



He is not an NRHA Million $$ Sire.

Smart Chic O'Lena is NOT a NRHA $10+ Million $$ Sire Which they have him listed as on their home page.


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## smrobs

Wow, that's too bad that they couldn't be honest. I still wouldn't mind having a couple of the 2 or 3 year old studs from the sale :wink:.


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## ShutUpJoe

If someone could get up the money and then turn right around and have a herd dispersal auction, they would probably make a ton.


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## QHDragon

ShutUpJoe said:


> If someone could get up the money and then turn right around and have a herd dispersal auction, they would probably make a ton.


That's what I was thinking.


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## ShutUpJoe

I just read that a lot of the horses are not registered.....


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## smrobs

I wouldn't care. For one or 2, I could cough up the money to have it done. Though for someone who buys the lot, it would be extremely expensive :? to have it done and in order to really turn around and make much of a profit, they would need to be registered. They are gonna be lucky to get any bids at all if they aren't careful.


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## ShutUpJoe

That website posted above said they got one bid of $1000 per horse and that bid was outbid.


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## shmurmer4

apparently they've been in trouble for a while, most people in this area I talk to about it say they're surprised it didn't happen much, much sooner.


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## Remali

It's a shame about the horses..... really does make one wonder....


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## My Beau

If people were smart, 4 or 5 should go in on the horses together, then take the time to market and resell them individually. They'd make an absolute killing!


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## nrhareiner

If Babcock was not pulling something on these horses he would have put many of them in to the different futurity sales coming up. The NRHA Futurity sales are the first of Dec then you have the NRCHA one that is done and the NCHA one coming up in Dec then there is the AQHA Congress sale. That along would have proable pulled him out of the financial problems to a large extent. Problem is that I am sure there is something going on I can not point to it can not say I am 100% sure. It is just the way they are doing it that sends a red flag up.


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## franknbeans

Hmmm. Just took another look at the listing. It does NOT say this is an absolute auction. There may well be a reserve.


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## nrhareiner

franknbeans said:


> Hmmm. Just took another look at the listing. It does NOT say this is an absolute auction. There may well be a reserve.



There very well could be. However if they are correct and they are selling on one lot. There is something hinky going on. You just do not see that. If you are going to all the trouble to sell you horses b/c you need the money why would not not sell them in the best possible way to that end??

Also their site reads that they are having their annual Production sale. Not sure if it the same as the one in the article.


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## franknbeans

Saw that too. Production sale in mid october. Makes no sense, for sure.
_Posted via Mobile Device_


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## twinkat1

Just more motivation to get out of debt. And, were're not in recovery yet.....& it's nationwide.


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## twinkat1

I think the judge decides how the sale is to go.


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## twinkat1

This is truely sad. We need to pray! Pray for the horses, each & every one that they go to a good home, for Jim Babcock that he has the strength & wisdom to move on & recovers financially, for the country that we can stand on good, moral values, & recover from the greed that has taken our credibiltiy to bankrupting all of us. May God bless America, land that I love.


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## Remali

I don't think they can put a reserve on the horses if this is a bankruptcy sale, can they?


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## franknbeans

Sure would think they could...no different than a house "short sale" IMO. The bank could want to know they will get a minimum.


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## Remali

Ahhh really? That is interesting, I didn't realize that.


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## franknbeans

Yeah-even foreclosure auctions at the courthouse.....at least around here. The bank will say how much is left on the mortage, and that is usually the minimum.(the bank has sort of "pre-bid" that amount). So, I would think they could easily have a reserve. 

This auction company does many horse auctions, typically the "good ones"...sort of like the "barrett-Jackson" of horses. If you look at their site, you can look at results and every sale they have some "no sales" who did not meet the minimum.


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## Remali

Has there been any more news on this? I think it was this week they were going to get to the offers.


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## franknbeans

The offers were due Friday. I have heard nothing.


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## smrobs

I am going to keep my ear open for who bought the lot. Later on, I may try to contact them and see if they are going to try to downsize. I really would love to have a couple of 2 year olds with those bloodlines.


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## BuckOff41570

smrobs said:


> I am going to keep my ear open for who bought the lot. Later on, I may try to contact them and see if they are going to try to downsize. I really would love to have a couple of 2 year olds with those bloodlines.


I was thinking the same thing.

I wish they were auctioning the horses off individually.


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## The Rocking U

If they relist, who wants to pool together?!!


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## smrobs

It would be awesome if we could, but I don't have enough money for more than 2, maybe 3 at the most. LOL, it would take everyone on the forum to come up with that much money :smile:.


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## BuckOff41570

smrobs said:


> It would be awesome if we could, but I don't have enough money for more than 2, maybe 3 at the most. LOL, it would take everyone on the forum to come up with that much money :smile:.


This forum and possibley every other horse forum on the net. lol I just want one of em.


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## The Rocking U

Unfortunately, a few are worth more than a small house!


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## PBritton2U

And the rumor mill begins to churn...

This from Quarter Horse News' Facebook page:

 
*Quarter Horse News UNOFFICIAL: it's been quite a day in court with the Babcock horses. Seems as though a church had the winning bid at $363,800. Smart Chic Olena WAS in the group. There are lots of details still to be confirmed. Professional Auction Services had no comment.*


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## ShutUpJoe

A church????


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## PBritton2U

ShutUpJoe said:


> A church????


Yup, though it's _all_ speculation right now. I'm anxiously awaiting more details. 

Pam


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## SorrelHorse

I certainly wouldn't mind taking on a few of those....Too bad.


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## QHDragon

...a church???


And Smart Chic Olena was in the group?!?! I think he ALONE would be worth the $363,800.


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## QHDragon

Sounds like somebody finally came to their senses:
This Week's Babcock Ranch Sale Cancelled - Quarter Horse News - The News Magazine of the Performance Horse Industry

They are now being sold individually or as groups. Wonder if they just didn't get enough interest or a high enough bid...or if it was all a scam to get some media coverage.


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## ShutUpJoe

Very interesting......


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## nrhareiner

See this is what is confusing. They always have a production sale every year. That is what I thought the sale on the 15th was. That I did not think was part of the bankruptcy sale? That was separate and was already done?

I think QHN needs to get more facts about what is going on and not just post stuff they have read or heard. Or at least report is in a way that makes more sense.


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## Remali

Doesn't make any sense.... I thought all the horses were sold in the bankruptcy..... In a bankruptcy you have to list everything anyway, so they wouldn't have been able to have a few horses left over for a sale later.... Makes no sense.... something's very weird.... 

I agree, I think QHN needs to get more information....


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## shmurmer4

and he bought all of his horses back from the bank... babcock still lives on!! Lol.


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## QHDragon

shmurmer4 said:


> and he bought all of his horses back from the bank... babcock still lives on!! Lol.



WHAT?!!?

This just keeps getting weirder and weirder. :shock:


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## Remali

Where did you find that he bought all his horses back from the bank?... would like to read about it..... Sure sounds under-handed...


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## nrhareiner

Remali said:


> Where did you find that he bought all his horses back from the bank?...  would like to read about it..... Sure sounds under-handed...



Not at all. Happens quite a bit. Same with people who get in trouble with the IRS.


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## kevinshorses

That's why I thought they were selling as one lot. As far as the church that tried to buy the whole lot I would bet that it was the Mormon church. They own the largest ranch in the country and several other large ranches around the U.S.


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## collegehillboy55

That really is a bomber for them. all they can do now is cowboy up and find away out of the mess of a situation they're in


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## AlexS

Not sure what to think of this, if the rumour is true and he bought back his horses, where did he find the money? Surely any money he has available should be owed to his creditors. I don't know American law, but I am sure this is how it would be in the UK. 
The idea of bankrupcy is to at least attempt to pay off the people you owe with the stuff you own.


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## QHDragon

If he was in bankruptcy, how the heck did he get the money to buy them all back? 

This whole thing just seems awfully fishy to me.


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## kevinshorses

If it was the ranch corporation that declared bankruptcy then it wouldn't effect his personal funds at all. I also don't imagine it would be hard to find a partner on those stallions.


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## iridehorses

My understanding is that the sale hasn't happened yet due to the fact that there have been so many transfers of horses that the IRS is having a hard time finding out which horses are actually included in the bankruptcy.


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## shmurmer4

bankruptcy isn't new to babcock either, they've come close to it many times and never finalized it.


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