Keeneland Sale

[Cannon Shell]

Originally Posted by ELA

I agree. You could just tell from the bidding that there wasn't a lot of play here. I wouldn't be shocked if someone said there was a live bid or two after $7m, but this very easily could have been a "valuation" play. At this level, I think there are only 2 players -- besides the owner -- maybe a third and that would be a longshot new player (think new hubby, LOL), but I doubt it.

I think, regardless of the RNA #'s, the sale will be down substantially. A boutique sale like the Spa has consignors "standing their ground" so to speak. This sale tends to have a different dynamic. With 5500 horses being sold, the "faces in the crowd" are in much more abundance. I don't know the RNA #'s yet, and I haven't looked at the first session #'s either, but I think this year's first session had less horses for sale -- maybe 10%.

Eric

The final numbers were the avg was off $30k and the median stayed the same. The gross was off $11 million with far fewer sold than last year. There were lots of RNA's that would have dragged the avg down even more. I suppose one could argue that the Azeri horse could have made up a large chunk of the deficit but the guy was simply pricing his horse and trolling for a partner, i doubt there was any intention to let him go.

[ELA]

Originally Posted by Cannon Shell

The final numbers were the avg was off $30k and the median stayed the same. The gross was off $11 million with far fewer sold than last year. There were lots of RNA's that would have dragged the avg down even more. I suppose one could argue that the Azeri horse could have made up a large chunk of the deficit but the guy was simply pricing his horse and trolling for a partner, i doubt there was any intention to let him go.

Median means little to nothing here. $11m is a big # to be off, but how many is far fewer? If we are talking about 10 to 20 horses, than it's a huge # perhaps. I guess it depends on who is looking at it and how you are looking at it.

I agree that the the RNA's would bring the # down and yes, the arguement could be made that the Azeri yearling could have been a "large chunk" -- but in reality it is not. There was no seller so the final # is the final #. It couldn't have been that large a chunk based upon his expectation, want price, etc. It could only be based upon what the last live bid was at.

Thanks for the comments.

Eric