Fasig-Tipton July sale

[sumitas]

7/14/09
Date......Sold..Amount...Average.. N/Sold...Median

7/14/08 142 13,311,000 93,739 112 75,000

7/16/07
Date Sold Amount Average N/Sold Median

7/16/07 178 15,826,000 88,910 89 75,000
from the bloodhorse...
John Fort, the president of Peachtree Racing Stable....
“The market seems really down,” Fort said. “Just sitting around watching horses sell, I see a lot of $20,000, $30,000, $40,000 horses. I’ve always felt like if you could afford to own a racehorse, you should be immune to little glitches in the economy. People who are sort of on the edge of an economy that might be fluctuating up or down shouldn’t be putting their money in racehorses.”

I guess he wants to see higher prices for the horses.

There were 25 bids below $20k, a couple of which were accepted. In other words of the 112 RNAs, about 87 had bids over $20k but failed to meet their reserve.

Edit: 3 out of 4 NY breds sold in the opening session. Hip #2 Closing Argument/Madison Dollie colt $80,000, #20 Medaglia D'Oro/Miss Mary filly $115,00, #48 RNA ($67K) Saint Liam/Prairie Princess filly, #169 Purge/Bedside Manner filly $100,000. 3 NY head remain for tomorrow's session.

[ELA]

Originally Posted by sumitas

7/14/09
Date......Sold..Amount...Average.. N/Sold...Median

7/14/08 142 13,311,000 93,739 112 75,000

7/16/07
Date Sold Amount Average N/Sold Median

7/16/07 178 15,826,000 88,910 89 75,000
from the bloodhorse...
John Fort, the president of Peachtree Racing Stable....
“The market seems really down,” Fort said. “Just sitting around watching horses sell, I see a lot of $20,000, $30,000, $40,000 horses. I’ve always felt like if you could afford to own a racehorse, you should be immune to little glitches in the economy. People who are sort of on the edge of an economy that might be fluctuating up or down shouldn’t be putting their money in racehorses.”

I guess he wants to see higher prices for the horses.

There were 25 bids below $20k, a couple of which were accepted. In other words of the 112 RNAs, about 87 had bids over $20k but failed to meet their reserve.

John's a buyer so he'd rather see a more stable, realistic market. However, I think he touched upon an interesting point.

So, the average was up 5%. Means nothing. Easily distorted. The median was the same and the buybacks were up about 33%!!! That says something about the state of the market. But John's point is interesting in that all these horses selling for $20k and $40k -- there isn't a market for many of these horses. There should be, but there isn't.

I look at the 2yo in training sales and I wonder -- who is making money selling $20k to $50k 2yo's? Answer -- nobody.

Eric

[Bobby Fischer]

Originally Posted by sumitas

7/14/09
Date......Sold..Amount...Average.. N/Sold...Median

7/14/08 142 13,311,000 93,739 112 75,000

7/16/07
Date Sold Amount Average N/Sold Median

7/16/07 178 15,826,000 88,910 89 75,000
from the bloodhorse...
John Fort, the president of Peachtree Racing Stable....
“The market seems really down,” Fort said. “Just sitting around watching horses sell, I see a lot of $20,000, $30,000, $40,000 horses. I’ve always felt like if you could afford to own a racehorse, you should be immune to little glitches in the economy. People who are sort of on the edge of an economy that might be fluctuating up or down shouldn’t be putting their money in racehorses.”

Maybe Fort should organize a separate sale for decent pedigrees, that isn't watered down with all these $20,000 dollar pedigrees?

[sumitas]

Are you saying this is a pin hooking sale ? That there are not buyers looking to race their purchase ?

[Bobby Fischer]

the pedigrees that had caught my eye in catalogue and results:

hip SIRE/DAM price
BUYER

57 GRAND REWARD/QUIET MISS 60,000
C BALLINSWOOD SALES KENNETH L & SARAH K RAMSEY

71 LEROIDESANIMAUX (BRZ)/RUNAWAY ROYALTY 45,000
F TAYLOR MADE SALES AGENCY, SUNRISE STABLE SOUTH, AGENT
AGENT LXXX

127 ROCK HARD TEN/TO THE RAINBOW (FR) 50,000
C HOPEWELL FARM LLC AGENT V FOUR DIAMONDS PINHOOKING, AGT

136 GRAND REWARD/TURK MACHINE 95,000
C EQUUS FARM (JERRY CUMMINS/ TODD QUAST, AGENT
PAUL ADAMS), AGENT

236 SPEIGHTSTOWN/ENGLAND'S ROSE 170,000
F TAYLOR MADE SALES AGENCY, HARTLEY-DERENZO THOROUGHBREDS
AGET XCVII


339 STORMY ATLANTIC/MISS LUCY 52,000
C BRANDYWINE FARM, AGENT RANDY MILES BLOODSTOCK
FOR LIBERATION FARM ET AL 377 KAFWAIN/RIFFLE 70,000
C MILLENNIUM FARMS AGENT II GULF COAST FARM

390NOT SOLD


396 MACHO UNO/SNOW FLOWER 135,000
C CROWNING POINT FARM, AGENT MIKE RYAN, AGENT

397 - OUT -

513 GULCH/EVANGEL 30,000
F BILL REIGHTLER, AGENT JAMES J. SMITH, AGENT

[sumitas]

There were about 24 RNAs below $20k.
There were 55 RNAs between $20k and $50k, = 79 RNAs out of 112 total head not sold were under $50K.
There were 33 RNAs over $50k today of which 4 RNAs were over $100k; 1 Alfeet Alex, 1 Grand Reward, and 2 Roman Rulers.

edit...numbers may not be precise but they are darn close.

[ELA]

Originally Posted by sumitas

There were 28 RNAs over $50k today. There were about 23 RNAs below $20k. So there were 61 RNAs between $20k and $50k, or 79 RNAs out of 122 total head not sold were under $50K. 29 RNAs between $50 and $100k. There were 4 RNAs over $100k; 1 Alfeet Alex, 1 Grand Reward, and 2 Roman Rulers.

Thanks for the breakdown. 2/3's of your buybacks were under $50k, and another 25% between 50k and 100k. Just look at the marketplace. You have a hot horse, at the top of the market -- yes, the right people will be "on him" (or her). The low to middle market is hurting. This will spill over, or will be the spill over, to the remainder of the marketplace and industry.

Eric