KEE SEPT: Book 2, 5 day cumulatives show huge gains

[Kasept]

Market Talk: Analyzing Keeneland's Opener
by Deirdre B. Biles

The Keeneland September yearling sale kicked off with increases in gross, average price, and median price from a year ago. But the buy-back rate was up, indicating consignors were less satisfied with prices during the first of the auction’s two select sessions. Read what people had to say about the market following Sept. 11’s opening session in Lexington:

Bob Baffert, Hall of Fame trainer: “There’s a lot of money here, that’s why (the sale is up). You think things are kind of bad (in the economy). Have you tried to get into an Outback or a Red Lobster lately. You can’t get a parking spot. There’s nothing wrong with the economy.”

Bill Farish, Lane’s End: “We got our horses sold for the most part and bought a couple back. I feel like the market is definitely thinner. Except for the rare case, you don’t have as many scopes (endoscopic throat examinations) as you would have in years past. The buyers are particular, but they’re not so particular that we don’t have anybody on our horses.”

Craig Bandoroff, Denali Stud: “The two horses of ours that they (the buyers) wanted sold very well. We had a few buy-backs, which is something I don’t like. But I think when you’re at this level, you’re selling for people who have the wherewithal to keep their horses if they really want to keep them. It’s not like when you get into Book Three (of the sale catalog) and you’re selling for people that this is how they make their living.

“In Book One, if somebody has a really nice horse, they generally get aggressive and say, ‘Look, I’m willing to sell it, but I’m not going to sell it unless you give me what I want.’ I never have a qualm with a guy who has a really nice horse (and wants a big price). It’s when they get unrealistic on a not-so-nice horse that it gets difficult.

“I think there’s an oversupply of certain sires and it hurts you (as a seller). When there are so many of them, they (buyers) say, ‘Well, you know, that’s a nice one, but I like this one better.’ It’s not that anybody is doing anything wrong, that’s just the way it is.”

Brereton C. Jones, Airdrie Stud: “There are a lot of industries in America that would like to have those numbers (posted by Keeneland during the opening session) representing their efforts. Hopefully, the market will continue to be positive throughout the sale, but it will be more difficult when you get into the latter half of the sale. There will be lesser priced horses, but the people who will be buying them will have smaller pocketbooks.

“Keeneland has done a masterful job of going around the world in areas that have racing to sell the Kentucky product. Of course, as we all know, it’s more than just the Kentucky product. But Keeneland is a Kentucky corporation, so they’re trying to bring the worldwide horse market in here. Something like 49 different countries were represented here at last year’s sale, and that was an amazing number.

“The fact that Keeneland decided to have the nighttime sessions (for the select portion of the auction) to get started has helped psychologically. People are relaxed, they sit down and meet their friends, and have a libation or two. If they’ve got some money at home, they get in the mood and think why not go ahead and spend it because we don’t know what this economy is going to do.

“Let’s say you were a successful entrepreneur and you were getting ready to start a business, but then you watch the squabbling that is going on in Washington between both political parties. You would think, ‘Golly I don’t feel comfortable going out and spending all of my money to start a brand new business. I think maybe I’m going to buy a horse or two and just wait it out.’ There is a lot of that going on right now.”


Meg Levy, Bluewater Sales: “The people who are looking to buy a horse around here, they still don’t want to feel like they are overpaying. They don’t necessarily want a 40% discount, but they don’t want to feel like they are overpaying in this market and I think the same goes for any other luxury item. This is a business like any other, and you want give yourself a margin to be able to make a profit even if it’s a lifestyle thing.”

“I feel like we could add a little more urgency to Book One just by maybe putting more horses in one night and compressing it into one night. I feel like people would feel more urgency because they wouldn’t have all this time to go through these horses.”

John Sikura, Hill ‘n’ Dale Sales Agency: “The bidding last night was quite conservative. People aren’t nearly as gung-ho and enthusiastic. They seemed to set very stringent limits and levels on what they were going to do. Not that I could complain about that horse (the $1.4 million session-topping A.P. Indy – Malka colt); it was a good sale. But if he had made $2 million I wouldn’t have been surprised.

“I think a lot of it is the mentality. For so long there was such competition and everybody had to have the same horses. It drove things upward. The bidders are kind of in the drivers’ seat now and I think they’re probably enjoying it.

“We need to have healthier racing. For somebody to spend a million dollars for a horse there have to be a lot of purse opportunities. There has to be the ability for a horse to earn its way out of its purchase price. Healthy, great racing is what makes the Australian and Japanese buyers so strong. There are great purse opportunities to recoup their investment. There is an enthusiasm for the sport that makes the interest so much deeper.”


Read more: http://www.bloodhorse.com/horse-raci...#ixzz1XlvLTCR7

[hockey2315]

Baffert's quote is pretty amusing

[Indian Charlie]

Originally Posted by hockey2315

Baffert's quote is pretty amusing

yeah, no kidding.

all that proves to me is that people have bad tastes in food.

[Riot]

Last night's RNA's, and the price the seller declined to sell for:

002 Filly Unbridled's Song - Richwoman $220,000
006 Colt Elusive Quality - Sacre Coeur $110,000
007 Colt Dynaformer - Sacred Feather $300,000
008 Colt Unbridled's Song - Serena's Cat $300,000
009 Filly Tapit - She Says It Best - $375,000
011 Colt Unbridled's Song - Sluice $160,000
012 Colt Giant's Causeway - Stilled $185,000
018 Filly Indian Charlie - Trusty Lady $140,000
023 Colt Bernardini - Wind Flow $240,000
036 Filly Tiznow - Bar Lazy J $120,000
038 Filly Invasor - Bells for Marlin $70,000
040 Colt Tiznow - Big and Beautiful $325,000
045 Colt Medaglia d'Oro - Bubbling Heights $240,000
047 Colt Giant's Causeway - Candlelight $170,000
060 Colt Candy Ride - Finding Aurum $335,000
067 Filly Malibu Moon - Golden Streamer $30,000
069 Colt Elusive Quality - Gypsy Hollow $185,000
076 Colt Malibu Moon - Intangible $90,000
076 Filly Medaglia d'Oro - Ipi Tombe $575,000
079 Colt Henrythenavigator - Lady Canna $185,000
081 Colt Curlin - Lady Truffles - $135,000
085 Filly Harlan's Holiday - Madison's Quest $45,000
093 Filly Curlin - Misty Hour $245,000
094 Filly Unbridled's Song - My White Corvette $385,000
095 Filly Mr Greely - Nunnery $40,000
106 Colt Street Cry - Quendom $190,000

[Cannon Shell]

Originally Posted by Riot

Last night's RNA's, and the price the seller declined to sell for:

002 Filly Unbridled's Song - Richwoman $220,000
006 Colt Elusive Quality - Sacre Coeur $110,000
007 Colt Dynaformer - Sacred Feather $300,000
008 Colt Unbridled's Song - Serena's Cat $300,000
009 Filly Tapit - She Says It Best - $375,000
011 Colt Unbridled's Song - Sluice $160,000
012 Colt Giant's Causeway - Stilled $185,000
018 Filly Indian Charlie - Trusty Lady $140,000
023 Colt Bernardini - Wind Flow $240,000
036 Filly Tiznow - Bar Lazy J $120,000
038 Filly Invasor - Bells for Marlin $70,000
040 Colt Tiznow - Big and Beautiful $325,000
045 Colt Medaglia d'Oro - Bubbling Heights $240,000
047 Colt Giant's Causeway - Candlelight $170,000
060 Colt Candy Ride - Finding Aurum $335,000
067 Filly Malibu Moon - Golden Streamer $30,000
069 Colt Elusive Quality - Gypsy Hollow $185,000
076 Colt Malibu Moon - Intangible $90,000
076 Filly Medaglia d'Oro - Ipi Tombe $575,000
079 Colt Henrythenavigator - Lady Canna $185,000
081 Colt Curlin - Lady Truffles - $135,000
085 Filly Harlan's Holiday - Madison's Quest $45,000
093 Filly Curlin - Misty Hour $245,000
094 Filly Unbridled's Song - My White Corvette $385,000
095 Filly Mr Greely - Nunnery $40,000
106 Colt Street Cry - Quendom $190,000

Not necessarily. Many of these horses have no live bids but the price is being run up right below the reserve in the hopes that someone will bid over the reserve.

[freddymo]

Originally Posted by Cannon Shell

Not necessarily. Many of these horses have no live bids but the price is being run up right below the reserve in the hopes that someone will bid over the reserve.

You mean chandelier bidding is practiced at a horse auction?

[Riot]

Originally Posted by Cannon Shell

Not necessarily. Many of these horses have no live bids but the price is being run up right below the reserve in the hopes that someone will bid over the reserve.

Gasp! You mean even fake bidding occurs?

[Cannon Shell]

Originally Posted by Riot

Gasp! You mean even fake bidding occurs?

For book 1 level horses, virtually every one at some point

[VOL JACK]

Originally Posted by Indian Charlie

yeah, no kidding.

all that proves to me is that people have bad tastes in food.

Who don't like all you can eat shrimp?

[Indian Charlie]

Originally Posted by VOL JACK

Who don't like all you can eat shrimp?

People who don't like low quality.

The shrimp typically found in restaurants nowadays is nowhere near the flavor and quality of what you'd find 20-30 years ago.

Me? I get wild native Maine shrimp by the bucketful for $1 a lb when in season, then prep and freeze a year's worth, for like $50.

The meat is pink and sweet, and bears no resemblance to cardboard.

[Riot]

Originally Posted by hockey2315

Baffert's quote is pretty amusing

I though Craig Bandoroff's was, too

[Dahoss]

Originally Posted by hockey2315

Baffert's quote is pretty amusing

His tweets are always good for a laugh also. Some of my favorites are

"Stewards took way too long on inquiry in Futurity yesterday. Need to speed things up. Horses are hot an tired."

Talking about Coil after the Haskell

"He could be just ad good ad Point Given the way he ran the other day."

And

"When in Del Mar make sure you eat at Burlaps restaurant . It's the bomb . Best food and cool atmosphere."

At what point are you too old to describe something as the bomb?

[Merlinsky]

I dunno about you guys, but I'm exhausted watching other people spend all that money. I was happy for West Point Thoroughbreds. They got that Curlin from the family of Street Sense for $700,000. The AP Indy - Sapphire 'n Silk filly was a real beauty from what I saw on the live feed. $400,000 felt like a bargain.

What's the highest buyback so far? $575,000?

[trackrat59]

Originally Posted by Merlinsky

I dunno about you guys, but I'm exhausted watching other people spend all that money. I was happy for West Point Thoroughbreds. They got that Curlin from the family of Street Sense for $700,000. The AP Indy - Sapphire 'n Silk filly was a real beauty from what I saw on the live feed. $400,000 felt like a bargain.

What's the highest buyback so far? $575,000?

I got depressed when I realized that almost all of these horses are worth more than most houses.

[jms62]

Originally Posted by trackrat59

I got depressed when I realized that almost all of these horses are worth more than most houses.

And nearly all of them won't earn what was paid for them.

[Kasept]

Ben Leon pays $1.2MM for sister of Shared Account: Hip 307

[Turn and Count]

Originally Posted by Kasept

Market Talk: Analyzing Keeneland's Opener

Craig Bandoroff, Denali Stud: “The two horses of ours that they (the buyers) wanted sold very well. We had a few buy-backs, which is something I don’t like. But I think when you’re at this level, you’re selling for people who have the wherewithal to keep their horses if they really want to keep them. It’s not like when you get into Book Three (of the sale catalog) and you’re selling for people that this is how they make their living.

“In Book One, if somebody has a really nice horse, they generally get aggressive and say, ‘Look, I’m willing to sell it, but I’m not going to sell it unless you give me what I want.’ I never have a qualm with a guy who has a really nice horse (and wants a big price). It’s when they get unrealistic on a not-so-nice horse that it gets difficult.

“I think there’s an oversupply of certain sires and it hurts you (as a seller). When there are so many of them, they (buyers) say, ‘Well, you know, that’s a nice one, but I like this one better.’ It’s not that anybody is doing anything wrong, that’s just the way it is.”


Read more: http://www.bloodhorse.com/horse-raci...#ixzz1XlvLTCR7

It's been that way for years and the breeders don't care. Giant's Causeway has his share of 5K sales so those who spend 75+K know fully well there are going to be up to 200 other foals by the same sire.