Still reeling from the effects of the worldwide financial crisis, buyers approached the Ocala Breeders' Sales Co. March select sale of 2-year-olds in training cautiously, and their reluctance to spend the really big bucks was a major factor in the opening session's setbacks. Compared to a year ago, when the auction enjoyed a record-setting run, the gross revenue dropped 29.6% while the average price fell 32.6%,and the median price declined 22.2% March 17 in Central Florida.
A smooth-striding Grand Slam colt brought $400,000 early in the afternoon during the first session of the Ocala Breeders' Sales Co. March select sale of 2-year-olds in training.
Frank Stronach is chairman of Magna Entertainment Corp., a major racetrack operator that filed for Chapter 11 bankruptcy protection March 5. He also is the owner of Adena Springs, which won its fifth consecutive Eclipse Award as outstanding breeder in 2008 while Stronach picked up his fourth Eclipse as outstanding owner. Stronach discussed the MEC bankruptcy with The Blood-Horse following the Adena Springs sale of 2-year-olds in training.
The Adena Springs sale of 2-year-olds in training bucked the downward trend in the Thoroughbred marketplace in one important statistical category. The median price rose 28.6% from a year ago during the eighth edition of the auction, which was held March 16 at Adena Springs South near Williston, Fla.
The Ocala Breeders' Sales Co. March select juvenile auction "will be as good as a 2-year-old sale can be this year," according to Tom Ventura.
The catalog for the Adena Springs sale of 2-year-olds in training is smaller this year when compared to 2008. But the auction is "full of quality," according to Mark Roberts, the manager of Adena Springs South in Williston, Fla., where the sale will be held March 16, beginning at 4:30 p.m. (EDT).
Here is a list of horses to keep an eye on during the March 16 first session of the Ocala Breeders' Sales Co. March select sale of 2-year-olds in training in Central Florida:
Here is a list of horses to keep an eye on during the March 18 seconds session of the Ocala Breeders' Sales Co. March select sale of 2-year-olds in training.
A More Than Ready colt was the fastest worker at an eighth of a mile March 13 during the second session of the under tack show for the Ocala Breeders' Sales Co. March select sale of 2-year-olds in training in Central Florida. He covered the distance in :9 3/5.
Fasig-Tipton will fine nine consignors because the riders of their horses misused their riding crops during the Feb. 27 under tack show for the Florida select sale of 2-year-olds in training at Calder Race Course.
Four horses tied for the fastest work at a quarter mile during the March 12 first session of the under tack show for the Ocala Breeders' Sales Co. March select sale of 2-year-olds in training in Central Florida.
The William Inglis & Son Melbourne March mixed sale ended at Oaklands in Australia March 13 with a clearance rate of 91%. The 329 horses that sold grossed Aust$1,369,600 (approximately $887,487 in U.S. funds). The average price was Aust$4,163 ($2,698), and the median price was Aust$2,200 ($1,426).
With prices tumbling at the early select sales of 2-year-olds in training, pinhookers, who provide most of the stock for the auctions, already are thinking about how they are going to approach their next buying-and-selling cycle. It's not good news for yearling consignors because, in general, pinhookers plan to be much less aggressive when buying young horses later this year.
The Magic Millions Adelaide yearling sale ended its three-session run March 12 in Australia with a gross of Aust$5,291,250 (approximately $3,422,433 in U.S. funds) that was up from last year's total of Aust$5,258,000. The clearance rose from 76% compared to 72% in 2008.
Uniform policies that restrict use of a riding crop in under tack shows for 2-year-olds in training had a significant effect on riders' actions at the preview for the Fasig-Tipton Florida select juvenile auction, according to Fasig-Tipton director of marketing Terence Collier.
Mike Mulligan, a leading consignor at sales of 2-year-olds in training, was in stable condition, with a head injury, at Memorial Regional Hospital in Hollywood, Fla., March 9. Fasig-Tipton director of marketing Terence Collier reported March 10 that "they (doctors) are changing his medication levels today to raise him to the next level (of consciousness). All vital signs continue to be progressing."
Champion Proud Spell returns to the races March 12 at Oaklawn Park, making her 2009 debut in a 1 1/16-mile allowance/optional claiming event. Her regular rider, Gabriel Saez, will be aboard as the 4-year-old filly prepares for the Apple Blossom Handicap (gr. I) April 4 at Oaklawn.
Following is a list of horses to keep an eye on at the Barretts March select sale of 2-year-olds in training at Fairplex in Southern California. The auction, scheduled for March 10, starts at 2 p.m. (PDT).
The Fasig-Tipton Florida select sale of 2-year-olds in training, held March 3 at Calder Race Course, suffered downturns of 25.5% in gross revenue, 31.5% in average price, and 34.8% in median price. The number of horses sold rose 8.8% while the buy-back rate dropped to 35.5% from 40.4% a year ago. Read what people at the auction had to say about the market:
Tackling the biggest financial crisis since the Great Depression, Fasig-Tipton's Florida select sale of 2-year-olds in training suffered some bumps and bruises, but also scored a couple of minor victories. The number of horses sold rose from a year ago while the buy-back rate declined. Meanwhile, the gross revenue fell 25.5% and the average price dropped 31.5%. The median price was down 34.8%.
Cup o' Joe, a handsome Medaglia d'Oro colt, became the highest priced horse sold so far at the Fasig-Tipton Florida select sale of 2-year-olds in training when he brought $1.6 million from Sheikh Mohammed's bloodstock manager John Ferguson.
A strapping Unbridled's Song colt named Cornerstone broke through the seven-figure price barrier a little more than two hours into the Fasig-Tipton Florida select sale of 2-year-olds in training March 3 at Calder Race Course. Sheikh Mohammed's bloodstock manager John Ferguson paid $1.1 million for the gray or roan juvenile.
Fasig-Tipton will report private sales in addition to horses sold in the auction ring during its Florida select sale of 2-year-olds in training March 3 at Calder Race Course. The juveniles sold privately will be designated on the sale summary sheet as (PS), which stands for private sale. The private sales will be included in the auction's final statistics.
The fanciest juvenile sale in the world faces off against the biggest financial crisis since the Great Depression March 3 at Calder Race Course, and based on the results of other recent Thoroughbred auctions, prices probably will be down considerably.
Here is a list of juveniles that buyers and consignors at Calder Race Course were talking about the most one day before the March 3 Fasig Tipton Florida select sale of 2-year-olds in training.
These 2-year-olds stand out because of their workout times, yearling purchase prices, and pedigrees.
When Dubai-based Synergy Investments purchased Fasig-Tipton last year, Sheikh Mohammed's bloodstock manager, John Ferguson, vowed the Kentucky-based auction firm would strive to offer higher levels of customer service. According to shoppers at Fasig-Tipton's Florida select sale of 2-year-olds in training, the company is fulfilling that promise.
The fastest times were slower than they were a year ago during the under tack show for the Fasig-Tipton Florida select sale of 2-year-olds in training. But the auction firm's officials and consignors said they weren't surprised or disappointed for a couple of reasons.
If the recent Ocala Breeders' Sales Co. (OBS) February select sale of 2-year-olds in training was any indication, it's going to be a tough year for yearling-to-juvenile pinhookers. The rate of return (ROR) on their investment, 30.7%, ranked among their worst ever based on figures that date back to 1990. It was the weakest since the ROR dropped to its lowest point during the 20-year period of 17.1% in 1993.
The set of uniform policies developed by four major auction firms Barretts, Fasig-Tipton, Keeneland, and the Ocala Breeders' Sales Co. took effect beginning with the OBS February select sale of 2-year-olds in training Feb. 17 in Central Florida. The policies address medication, prohibited practices, riding crops, and horseshoes. "As the first sale under these new guidelines, I thought it went tremendously well," said Tom Ventura, the OBS general manager and director of sales.
The selling season for select 2-year-olds in training staggered out of the starting gate in Central Florida Feb. 17. The year's first major juvenile auction, the Ocala Breeders' Sales Co. February sale, suffered sobering setbacks of 29.3% in gross revenue, 33.7% in average price, and 28% in median price from a year ago. Another discouraging result was the buy-back rate, which soared from 28.2% in 2008 to 38.3%.
Westrock Stables' Scott Ford, a former president and chief executive officer of Alltel, hasn't been in the Thoroughbred business for long, but he was a major player at the Ocala Breeders'Sales Co. select sale of 2-year-olds in training.
Prices were down significantly at the first major auction of the selling season for 2-year-olds in training Feb. 17 in Central Florida. Read what one buyer and several consignors had to say about the market at the Ocala Breeders' Sales Co. February auction.
After generating a grim series of results for breeding stock and weanlings, the Thoroughbred marketplace switches its focus to racing prospects beginning with the Ocala Breeders' Sales Co. February select sale of 2-year-olds in training in Central Florida. Auction firm officials and consignors are hoping buyers will be more enthusiastic about acquiring young horses nearly ready for competition even though the global economy continues to struggle.
The selling season for select 2-year-olds in training kicks off Feb. 17 in Central Florida. Following are lists of some of the more interesting horses in the Ocala Breeders' Sales Co. February auction based on yearling purchase prices, pedigrees, and workout times.
Thoroughbred horsewomen Caroline Dodwell of Texas and Carole Ann Rio of Florida had entries in the recent Westminster Kennel Club dog show in New York that took Best of Breed honors.
Times were faster than ever before during the under tack show for the Ocala Breeders' Sales Co. February select sale of 2-year-olds in training Feb. 13 in Central Florida.
A Zeditave - Serious Matter filly brought Aust$220,000 (approximately $143,502 in U.S. funds) as the BMW Magic Millions Perth yearling sale ended its three-day run in Australia Feb. 13. Peter Caporn bought the filly from Heytesbury Stud.
Barretts has cataloged 124 horses for its March select sale of 2-year-olds in training. The number is down 35.1% from last year's total of 191.
Prices tumbled at the the Fasig-Tipton Kentucky winter mixed sale Feb. 9 in Lexington, following the downward trends that have been seen at other recent auctions. The average price dropped 42.8% while the median price fell 28.6%. A much smaller sale catalog than in 2008 contributed to the 62.9% decline in the gross revenue.
Fara Bushnell, a longtime equine insurance agent in Lexington and a familiar face at many Thoroughbred auctions, is the co-owner of a Bernese Mountain Dog that won Best of Breed at the Westminster Kennel Club dog show in New York Feb. 10.
The 2008 Fasig-Tipton Kentucky winter mixed auction posted an 18.9% gain in average price. The gross revenue rose 1.9% while the median price remained the same as in 2007. But this year's edition of the sale, scheduled for Feb. 9 in Lexington, isn't expected to perform as strongly.
The Ocala Breeders' Sales Co. (OBS) has cataloged 523 horses for its March select sale of 2-year-olds in training. The number is up 13.7% from last year's total of 460.
Even though Ted Watkins is only a casual fan of Thoroughbred racing, he might know more about the breed's early history than some of the sport's most enthusiastic admirers. He owns a copy of the first edition of An Introduction to a General Stud-Book, which was printed in England in 1791.
Longtime Buffalo Bills owner Ralph C. Wilson Jr., who formerly was prominent in Thoroughbred breeding and racing, has been elected to the Pro Football Hall of Fame. At age 90, Wilson will be the oldest person ever inducted when ceremonies are held Aug. 8 in Canton, Ohio.
Don't tell Proud Spell's owner and breeder, Brereton C. Jones, that his bay filly isn't tough. Even though the daughter of Proud Citizen lacks size, Jones has seen plenty of evidence that she's one of the grittiest runners on the track today.
Legends Racing, which was 2008's biggest-spending new shopper at Thoroughbred yearling sales, is preparing for its inaugural season at the racetrack. According to Olin Gentry, one of the venture's founders, the stable's 39 horses have been divided equally among Legends' three trainers--Bob Baffert, D. Wayne Lukas, and Nick Zito--and are in Florida being prepared for competition.
Leprechaun Racing's Mike Mulligan, chairman of the National Association of Two-Year-Old Consignors, discusses the uniform sale policies for medication, prohibited practices, riding crops and horseshoes.
The New Zealand national yearling auction is trailing behind last year's pace after the opening day in Karaka Jan. 26. During the first session of the sale's premier portion, the 173 horses that sold grossed NZ$25,973,500 (approximately $13,752,189 in U.S. funds) and averaged NZ$150,136 ($79,493). The median price was NZ$100,000 ($52,947).
Barretts opens its 2009 selling season with a January mixed sale on the grounds of Fairplex Park in Southern California. The auction, which has more than 300 horses in its catalog, begins at 11 a.m. (PST) Jan. 26.
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