Tattersalls

Tattersalls is the oldest bloodstock auction house in the world, founded in 1766, and the largest in Europe. It works from Park Paddocks in Newmarket, and the calendar is built around a handful of named sales that the thoroughbred market plans its year around rather than a continuous stream of lots.

What you can buy

• Yearlings — the October Yearling Sale is the flagship, split across several catalogue books.
• Breeding stock — mares and foals, sold in the December sale.
• Horses in training.
• Online lots, sold through the house's own digital sale strand.

How the bidding works

Sales run in the ring at Newmarket over consecutive days, with catalogues published well in advance and live bidding available online for registered buyers. Entries close weeks before a sale, so the catalogue is fixed and studied long before the first lot walks in. The house also runs bonus schemes tied to specific catalogue books, which affect what a lot is worth to a buyer racing in Britain.

What to check before you bid

Bloodstock is bought on pedigree and veterinary inspection, and the repository of X-rays and endoscopy reports is the part to read before the ring, not after. Which catalogue book a horse sits in is itself information about how the house rates it. Registration as a buyer needs to be settled in advance — this is a credit market, and unregistered bidding is not a thing here.