But as more and more people are finding themselves with money to spend, an increasing number of these people are turning towards racehorse ownership, either for the thrill of the sport or for the excitement of investments . . .and, in some cases, for both.

It is also a new social outlet, both at a business and personal level.

Owning a racehorse is an investment like no other, and while practically any investment requires a certain amount of due diligence, horses require much more.

Newcomers to the sport will require expert advice and knowledge, not only regarding the purchase itself, but on how best to keep and train the horse in order to nurture it as a possible champion. And nowhere is there a greater level of expertise than at Peak Bloodstock.

Indeed, Peak Bloodstock provides a comprehensive service to buyers of racehorses, whether they are seasoned investors or firsttime novices. Founded by expert buyer Sean Tiernan, the majority of horses bought and sold by Peak Bloodstock are either Irish or French, with some American and British horses. In many cases, buyers tell Tiernan or his associates what it is that they want, and Peak Bloodstock will draw upon its considerable expertise to source quality horses from around the world. But, in the case of newcomers to the sport, Peak Bloodstock will deal with the individuals or syndicates, guiding them through every nuance of what to buy, where to stable the horse, and where to train it.

Many pure investors will opt to purchase a foal, before selling it on as a yearling. The key to identifying a potentially good investment lies in the horse's pedigree, and Peak Bloodstock uses the expertise of Bernard Stoffel, a Belgian vet who is present at every purchase made by the company (Tiernan accompanies Stoffel as much as possible).

"We have a long list of horses which we bought young, and which are doing very well, " said Sean Tiernan. "Because of this, we are seen to have developed a good concept, with good people and good contacts."

The list of winners includes Glencove Marina, Lounaos, Artiste Bay and Norther Bay, and Finicius, among others. And while it is impossible to guarantee that a foal, or even a yearling, will prove to be a champion, the Peak Bloodstock track record is a good indicator of a purchaser with a keen eye for a winner (indeed, Ireland's third-most successful owner, John Brennan, is a client of the company). The company also buys established and top class racers, and recently bid 550,000 on a horse.

Indeed, while investors will tend to buy horses very young, there is another, completely different sort of buyer in racing. These are the people or syndicates who buy a horse for the love of the sport, and they tend to buy an animal that is much closer to racing age. Many enthusiasts approach the sport for the first time in this manner, and Peak Bloodstock will be there to advise them on all aspect of horse ownership, outlining the various costs inherent in keeping a racehorse in peak fitness.

"People don't need to know anything before coming to us, " said Tiernan. "We can offer suggestions on trainers, or even take people by the hand through the whole process."

To this end, Sean checks the horses while they are training, builds a relationship with the trainer, and Peak Bloodstock will even offer to keep the horses for our clients on its farm, in between training.

"We always have approximately 50 horses at the farm at any one time, " said Tiernan.

Given that Peak Bloodstock can take much of the uncertainty out of horse ownership, the major question for the purchaser will regard how much he or she wants to spend. You need to be paying a minimum of 20,000 for a horse in training. But with prize money ranging from anywhere between 10,000 and 1m, the rewards are certainly there for horses that can pass muster.

One of the top European prizes will be handed out this Sunday at Longchamps, and Peak Bloodstock has sent 200 enclosure tickets for the Prix de l'Arc de Triomphe to members of the Association of Irish Racehorse Owners, with which it works very closely. Following this major social and sporting event, Peak Bloodstock will be attending a small yet highly prestigious sale of some of the world's top horses at neighbouring St Cloud.