Some Phipps mares going to Keeneland Nov. sale

[randallscott35]

Originally Posted by Danzig

“The decision to sell some of our horses was made as part of the normal course of stable management,” Phipps’s daughter Daisy Phipps Pulito, who aids her father in running the stable, said in a statement distributed by Keeneland. “My family remains fully invested in the Thoroughbred industry.”

What do you expect them to say?

[Pedigree Ann]

Not even the Phippses can keep all of their mares; new fillies keep being retired every year. The stable hasn't had many big money earners of late, so it may make sense, tax-wise, to sell proven producers (they might never have another SW, after all) since they will bring the best prices - proves you are running your operation like a business, not a hobby.

[Linny]

Resort in foal to Tapit looks like the better investment, even though she is 2 years older than Just Reward. Tapit has continued to sire SW's and they run on all surfaces.

[Gaelic Storm]

This is not new. The Phipps family sells horses at the Keeneland sales every year. Last September they sold a half to Persistently for 11K. After the grade 1 win Just Rewards value is as high as it will be. Last November I think they sold Grand Gala, Preaching, Winning Bet and Cashier. They sold Supercharger in foal with Super Savor a few years ago.

[paisjpq]

It's not new for them to sell, it's new for them to press release it...meaning there is likely more going on under the surface...

[randallscott35]

Originally Posted by paisjpq

It's not new for them to sell, it's new for them to press release it...meaning there is likely more going on under the surface...

Ding ding ding

[reese]

Originally Posted by paisjpq

It's not new for them to sell, it's new for them to press release it...meaning there is likely more going on under the surface...

The Phipps' need money so badly they are selling primo mares in a recessionary market? Hard to believe.


Bessemer is the one of the largest U.S. wealth managers and a top adviser to utra-rich families, overseeing $55.4 billion in client assets. The average client has more than $26 million.

[paisjpq]

I didn't say they need money. But thanks for the education.

Originally Posted by reese

The Phipps' need money so badly they are selling primo mares in a recessionary market? Hard to believe.


Bessemer is the one of the largest U.S. wealth managers and a top adviser to utra-rich families, overseeing $55.4 billion in client assets. The average client has more than $26 million.

[reese]

Originally Posted by paisjpq

I didn't say they need money. But thanks for the education.

Well, what could be going on "under the surface" as you so obliquely allude to?

If it is not money...what other reason?
I can't think of any. Are they splitting with Claiborne after 100 years?

Is the family selling the stable?

[Danzig]

Originally Posted by paisjpq

It's not new for them to sell, it's new for them to press release it...meaning there is likely more going on under the surface...

maybe keeneland is just trying to generate more interest in the sale?