Fasig-Tipton July sale

[ELA]

Originally Posted by Cannon Shell

There are plenty of people to buy those $40000 horses but not many sellers willing to let them go for that. I will never understand the logic that it is somehow the buyers fault that the sellers arent realistic with prices.

That's the problem with the marketplace, vis a vis an inefficient market. Everyone would like to believe it's an efficient market, but far too many sellers turn deaf ears to the reality. There will be a major fallout, a market correction so to speak, and we'll see a cleansing of the market.

Unfortunately, like you said, there aren't sellers to accomodate that part of the market. All the sellers are looking to sell big money horses. There are only so many sellers and horses who can deliver the product that the top end buyers are looking for.

More importantly, in today's market -- today -- who new has come to the table to play the game at that level? Interesting observation. You see a Bob Lewis pass away, Sanan back off, a friction between Coolmore and Darley/Godolphin/et al, Melnyk back off, and so on. A new player comes along -- like Einsidler -- plays a bit and then backs off. Zayat comes along, plays in the big leagues, but not enough to make up for the losses. For the few truly hot horses -- there are just a few major players. The rest of the market is weak due to the sellers, the economics, etc.

Eric

[freddymo]

Originally Posted by ELA

That's the problem with the marketplace, vis a vis an inefficient market. Everyone would like to believe it's an efficient market, but far too many sellers turn deaf ears to the reality. There will be a major fallout, a market correction so to speak, and we'll see a cleansing of the market.

Unfortunately, like you said, there aren't sellers to accomodate that part of the market. All the sellers are looking to sell big money horses. There are only so many sellers and horses who can deliver the product that the top end buyers are looking for.

More importantly, in today's market -- today -- who new has come to the table to play the game at that level? Interesting observation. You see a Bob Lewis pass away, Sanan back off, a friction between Coolmore and Darley/Godolphin/et al, Melnyk back off, and so on. A new player comes along -- like Einsidler -- plays a bit and then backs off. Zayat comes along, plays in the big leagues, but not enough to make up for the losses. For the few truly hot horses -- there are just a few major players. The rest of the market is weak due to the sellers, the economics, etc.

Eric

Markets by definition are NOT efficent hence opportunity for the seller and or the buyer

[sumitas]

http://news.bloodhorse.com/article/46167.htm
Take notice of the non-chalant comments about steroids in yearlings made by Jay Em Ess Stable's Samantha Siegel and West Point's Finley. One wonders if this ambilance about doping extends to their racing stable.

Remember, 22 buyers do not agree with the status quo statements from Siegel and Finley.

[paisjpq]

Originally Posted by sumitas

http://news.bloodhorse.com/article/46167.htm
Take notice of the non-chalant comments about steroids in yearlings made by Jay Em Ess Stable's Samantha Siegel and West Point's Finley. One wonders if this ambilance about doping extends to their racing stable.

Remember, 22 buyers do not agree with the status quo statements from Siegel and Finley.

I wouldn't necessarily dimiss their comments as nonchalant...they are pretty much right, you can usually tell which ones have been given something and which ones haven't. And they both said that they would test if they were suspicious.

[sumitas]

From the bloodhorse article...
“We did test horses from the 2-year-old sales and did not have a positive,” Finley said. “I think the message is out to the industry, and I think these people are being on the conservative side. I think it is very positive and I think it is going to help overall. You always hear about these 2-year-old consignors who get these horses down to them in October and they are 100 pounds lighter than they were in August and September. “

To be fair Finley was more balanced in his response than I initially perceived. But, that's why we have our dialogue.

Now on to Saratoga for some more wheelin and dealin.