The Federation of Bloodstock Agents Australia (FBAA) has commenced the year on a high note, with member’s marking a significant impact at the Magic Millions Yearling Sale, contributing to 20% of the gross in Book 1.
As the year unfolds, the FBAA is poised to continue its commitment to its core values of education, transparency, and accountability.
Here is a glimpse into our plans laid out for the year ahead.
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- Launch of the FBAA Mentorship Program: The FBAA Mentorship Program will be launched next month, a strategic initiative designed to foster the growth and development of emerging talent in the bloodstock industry.
- Continued Education Day: Building on the resounding success of the 2023 event, the FBAA Continued Professional Development Day is set to return in 2024 with an impressive line-up of speakers. The event delivers invaluable insights around areas such as equine health, innovation, welfare, business development and international market trends, coinciding with the day after the Easter Yearling Sale in Sydney.
- Enhancing transparency: In a concerted effort to elevate the standards of integrity and transparency in bloodstock transactions, the FBAA will continue its collaborative endeavours with the sales companies, following on from the disclosure of rigs and scope notification changes that began at Magic Millions this month.
Key focus areas include:
- Ensuring the transparent disclosure of buyer names at public auctions.
- Spearheading improvements in the disclosure of health-related information.
- Agent promotion: To broaden the awareness of FBAA agents and further communicate the benefits and protections they bring to the table in a bloodstock transaction, particularly to new and unaware industry participants.
- Industry-wide advocacy and dialogue: The FBAA remains steadfast in its commitment to contribute constructively to industry-wide discussions. A focal point of major concern to the FBAA includes addressing the five-year stagnation of the Australian Pattern.
FBAA agents will be actively participating in all major sales of 2024, including many overseas auctions. For those interested in leveraging the expertise and experience of FBAA agents, a comprehensive list of agents along with their contact details is available here.
