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Originally Posted by saucon17
Thanks Richi for the great info, everything you say makes complete sense to me, Did you see this colt at the Timonium sale?
It reminds me of the Dance Master colt who S. Klesaris bought for 600k for a
stud that stands for less than 5K he must of had great conformation and worked the like a bullet. I'm drawing a blank on this horses name
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I didn't actually go to that sale in person, but I have the video of all the workouts from that sale.
That is a good example you gave about the Klesaris horse. That horse probably would have gone for well under $100,000 at a yearling sale.
Many of the horses at 2 year old sales are horses that were bought at yearling sales by pinhookers. Let's take a horse such as the Klesaris horse. Sometimes you will see a horse like this sell for around $50,000 at a yearling sale to a pinhooker. The breeder is happy to get $50,000 because he only paid $5,000 to breed to Dance Master. The breeder is not willing to take the same risk as the pinhooker. The breeder is happy to sell the horse for $50,000 and make a nice profit. The pinhooker who buys the horse for $50,000, sees the horse as a horse who he may be able to double or triple his money on. In the case of the Klesaris horse, let's pretend he was bought by a pinhooker for $50,000 at a yeraling sale. The pinhooker would have made 13x his money. Well actually not quite that much because by the time the 2 year old sale comes around, the pinhooker would be into the horse for an additional $20,000 or so. But he would still make about 9x his money.