The market continued to lag behind last year’s pace on the third day of the Ocala Breeders’ Sales Co. August yearling sale. The gross revenue for the second of three open sessions fell 18.5% Aug. 20 in Central Florida, and the average price dropped 30.4%. Meanwhile, the median price declined 26.7%.
“When you’ve got so many horses in the same price range, and the demand is not keeping up with the supply, the prices have to go down,” said Tom Ventura, the OBS general manager and director of sales. “There’s been a bit of a correction of in the market. For the last of couple of years, there has been some uncertainty in the economy and the financial markets, but we withstood that pretty well. Things haven’t improved from standpoint, so I think people are adjusting their expectations and accepting a little less for their horses.”
The 226 horses sold grossed $2,036,000 and averaged $9,009. The median was $5,500, and the not sold/buy-back rate was 30.5%. In 2007, during the comparable session, 193 horses were sold for a gross of $2,498,500, an average of $12,946, and a median of $7,500.
“You have to bring an athlete out, and you can’t sell a small horse,” said Barbara Vanlangendonck of Summerfield. “We’re selling primarily to pinhookers, and they need a big, strong horse that looks quick because they’re going to have to turn around and go back and resell them. There are just not a lot of trainers here.”
A colt by Spanish Steps topped the session, bringing $95,000 from Ken and Sarah Ramsey. Consigned by Cutting Edge Equine, agent, the bay yearling is out of the 10-year-old unraced Meadowlake mare Entre Nous and is a half-brother to the winner Don’tputmeback (by Put It Back). Other family members include grade II winner American Chance and grade III winner Expressive Dance, a half-sister to grade I winner General Assembly and the dam of grade I winner Chief Honcho.
Charles R. Patton bred the session topper in Florida.
“The sad thing is that a lot of these yearlings need to go find other careers in the show horse world or the riding horse world,” said Florida horseman Barry Berkelhammer of the overall quality of the open sessions’ stock.
The third and final session of the OBS sale is scheduled for Aug. 21, with selling beginning at 10:30 a.m. (EDT). The sale started Aug. 18 with a select session.