The pilot reported that he purchased the airplane earlier that day and completed a condition inspection that afternoon. The previous owner suggested performing a couple of touch-and-go landings and some air work in preparation for the planned flight to the airplane’s home base. The pilot stated that the takeoff, climb, crosswind, and downwind legs of the traffic pattern were normal. While on the base-to-final turn, the airplane was high, and when the pilot reduced engine power, it developed a high sink rate. He did not correct the sink rate with additional power, and the airplane landed short of the runway. It then bounced to the runway threshold, and the right main landing gear collapsed, resulting in substantial damage to the airplane’s right wing. The pilot reported that there were no preaccident mechanical malfunctions or failures with the airplane that would have precluded normal operation. The pilot further stated that since he had no prior flight experience with the airplane, additional flight planning and familiarization of the airplane’s flight characteristics prior to departure could have prevented the accident.