'It is a risk to let your bloodstock agent know how much you have to spend'

Several people interviewed for the bloodstock review suggested it could be financially dangerous to let their agent know the maximum sum they were willing to spend.

That is among the most powerful findings in a report that highlights the lack of morality and fiduciary care shown by a small handful of bloodstock agents.

Justin Felice, the report's author, writes: "A number of interviewees suggested it was a risk, as one owner put it, to 'let your bloodstock agent know how much you have to spend' for fear of being taken advantage of'."