The equine marketplace took another step on the road to recovery as the Keeneland January horses of all ages sale posted huge gains in Lexington.
Auction participants give their opinions about the performance of the first major Thoroughbred auction of 2012.
Looking back to 2011 and ahead to this year's first major auction, the Keeneland January horses of all ages sale, Geoffrey Russell said he was expecting more of the same. And that's a good thing.
Declines in gross and median are less steep than they were in 2009.
"The best is yet to come," according to the trainer, who says the operation is downsizing to focus on quality.
Lack of quality stock in the Keeneland January horses of all ages sale in Lexington contributed to an overall decline in prices during the first three days, according to buyers and consignors.
Third session gross plummets 42.4% while median price plunges 45%.
Grade I winners Point Ashley and Spoken Fur, both in foal to Ghostzapper, have been sold privately after being scratched from the Jan. 12 second session of the Keeneland horses of all ages sale.
Gross and average rise, but results for overall sale remain down.
Gross declines 44.8%, and median drops 25.9% from a year ago.
Breeders and consignors saw a little light at the end of a long, dark financial tunnel during last November's Keeneland sale, and they're hoping the glimmer will get a little brighter during Keeneland's January auction.
These horses could bring high prices as the Keeneland auction kicks off Jan. 11.
Listed are horses that could bring high prices, based on their pedigrees or horsemen's comments, during the second session of Keeneland's horses of all ages sale.
Conditions were brutal at Keeneland Jan. 9, two days before the start of the Central Kentucky company's horses of all ages sale.
Keeneland officials hoping demand is solid for short yearlings in January sale.
The final results of the Keeneland January horses of all ages sale in Lexington were sobering, with setbacks of 53.4% in gross revenue, 48% in average price, and 44.1% in median price from a year ago. But they weren't anything new to the people who market Thoroughbreds.
White Prince, whose $60,000 price topped the fifth session of the Keeneland January horses of all ages auction in Lexington Jan. 16, did not go to a new home. The transaction was voided because the buyer had not established credit at the level at which the yearling colt was sold, according to Keeneland vice president Harvie Wilkinson.
Florida-based pinhooker Christy Whitman bought what she thought was a unique yearling during the fifth session of the Keeneland January horses of all ages auction, and she's hoping that shoppers at a future sale will be attracted by his white coat color, which is unusual for a Thoroughbred.
A Street Cry yearling filly was the only horse to bring a six-figure amount as the gross revenue, average price, and median price dropped dramatically for the fourth consecutive day at the Keeneland January horses of all ages sale in Lexington.
Read what participants in the Keeneland January horses of all ages sale had to say during the auction's fourth session Jan. 15 in Lexington.
Splash of Vanilla, believed to be the first Palomino Thoroughbred entered in a Keeneland auction, arrived on the sale grounds in Lexington Jan. 15 around noon and then settled down in Barn 24. The 2-year-old filly is scheduled to be offered as Hip. No. 2176 during the Jan. 17 final session of Keeneland's horses of all ages sale.
Session three of the Keeneland January horses of ages sale in Lexington was brightened by the most expensive yearling sold so far, a $390,000 son of Maria's Mon. But the auction's key business figures remained grim when compared to 2008's results.
Read what consignors and buyers had to say about the market at the Keeneland January horses of all ages sale.
A Maria's Mon colt became the highest-priced yearling sold at the Keeneland January horses of all ages sale so far when he was purchased for $390,000 by Florida pinhooker Jimmy Gladwell in the name of Ferguson Valley Ranch Jan. 14 in Lexington. The immediate underbidder on the handsome chestnut was Brian Graves, who is the director of public sales for the Beck family's Kentucky-based Gainesway Farm.
The Keeneland January horses of all ages sale continued its scary downward spiral during the second session of its six-day run in Lexington. The gross revenue Jan. 13 dropped 66.2% from a year ago while the average price fell 61.6%. The median price plunged 55.8% while the number of horses sold was down least of all, 12.1%.
One day after buying back Azeri for $4.4 million at the Keeneland January horses of all ages sale, Michael Paulson indicated that the 2002 Horse of the Year would be remaining under the control of the Allen E. Paulson Living Trust even though he had expressed a desire to sell her privately.
The results were grim, but not surprising, as Keeneland opened its January horses of all ages sale in Lexington during a time of worldwide economic downturns. The gross revenue Jan. 12 plummeted 44% from the auction's first session in 2008 while the average price dropped 45.9%. The median price suffered the most damage, falling 50.9%.
Azeri failed to find a new home during the opening session of the Keeneland January horses of all ages sale Jan. 12 in Lexington. Michael Paulson, saying she was "like part of the family," bought back the 2002 Horse of the Year for $4.4 million. Last year, Paulson set a world Thoroughbred auction record when he bought back Azeri's s first foal, Vallenzeri (by 1992 Horse of the Year A.P. Indy), for $7.7 million at the Keeneland September yearling auction.
Grade I winner Island Fashion, who is in foal to 2004 Horse of the Year Ghostzapper, sold for $950,000 around noon during the Jan. 12 opening session of the Keeneland January horses of all ages auction in Lexington. Naohiro Hosoda of the Shadai Corp. wrote the name of Katsumi Yoshida, the owner of Northern Farm in Japan, on the sale ticket.
Elusive Diva, a grade III winner on turf and dirt, provided a bright spot early in the Keeneland January horses of all ages sale in Lexington, bringing $825,000 as hip No. 9 Jan. 12.
Azeri and Island Fashion will be in the spotlight as the Keeneland January horses of all ages sale starts its six-day run in Lexington Jan. 12. Azeri was the 2002 Horse of the Year while Island Fashion was a grade I winner.
The Thoroughbred marketplace ended 2008 with dramatic declines, and all signs point to more tough times ahead as Keeneland gets ready to open its 2009 selling season with its January horses of all ages auction in Lexington.
Keeneland kicks off its 2009 selling season on Jan. 12 in Lexington with its January horses of all ages auction. Scheduled to be offered during the opening session of the six-day auction is 2002 Horse of the Year Azeri, who is in foal to 2004 Horse of the Year Ghostzapper.
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