Barretts and the California Thoroughbred Breeders Association (CTBA) are discussing a joint venture to conduct an annual yearling sale. The two groups have been involved in negotiations for about three months, said Barretts' president and general manager, Jerry McMahon, on Tuesday, and the agreement is expected to be finalized soon.
The tentative date for the auction is Oct. 4 at Barretts' Fairplex Park facility in Southern California.
"We want to get all the state's best yearlings in one sale," McMahon said.
The 2004 edition of the CTBA's Del Mar yearling sale produced mixed results. While the average rose 39.8% from 2003 to a record level and the median increased 21.6%, the gross revenue fell 11.5%. Meanwhile, nearly half the horses offered failed to find new homes, and there were numerous complaints from consignors and potential buyers.
Barretts' 2004 preferred yearling sale turned in results that mostly were close to the previous year's figures. The number sold and gross increased 2.5% and 0.6%, respectively, while the average declined 1.9%. However the median fell 10.5%.