Fasig Tipton July Sale

Toccet02 · Postby **Toccet02** » Sun Jul 19, 2009 10:11 am

Good luck to all going. here's just a small rant:

Why is it that articles on these sales seem to mention everything BUT the damn dates of the sale??? It seems I always have to go to the sale site and search through the calendar. Weird.

Daisy Jal Dastur · Postby **Daisy Jal Dastur** » Mon Jul 20, 2009 8:41 am

Just watching the sale online... kinda surprised at hip 47 going for only $150K.... anyone see him upclose who can give a bit of insight?

JCBloodstock · Postby **JCBloodstock** » Tue Jul 21, 2009 12:40 pm

92 no sales yesterday and 48 so far today - I think come September it's gonna get uglier !!!!!!!!!!!!!!!!!!!!!!!!!

LB · Postby LB » Tue Jul 21, 2009 1:33 pm

JCBloodstock wrote:92 no sales yesterday and 48 so far today - I think come September it's gonna get uglier !!!!!!!!!!!!!!!!!!!!!!!!!

Actually the buy-back rate was lower for yesterday than it was for the first day of last year's sale, which was help before the market imploded.

JCBloodstock · Postby **JCBloodstock** » Tue Jul 21, 2009 4:21 pm

Yes,there was fewer no sales LB but I'm definitely worried about that $20,000 median drop for both days in catalogs that looked pretty decent and yearlings that matched.

dray33 · Postby **dray33** » Tue Jul 21, 2009 6:52 pm

Like any market, it is searching for a bottom (not there yet). Then it will settle for a bit. And then post modest gains that they can promote and advertise.

LB · Postby LB » Wed Jul 22, 2009 6:36 am

Maybe I'm in the minority, but I thought the sale did fine--global economic concerns notwithstanding. There was a nice "recovery" on the second day (once the new sire showcase was finished) and most people who set reasonable reserves got their horses moved.

It's hard at the moment to be selling off of 2007 stud fees, and next year will be similarly hard with that regard. But buyers were there and they were buying the good ones that were offered. I'm not sure I can see how anyone can ask for more than that.

madelyn · Postby **madelyn** » Wed Jul 22, 2009 7:41 am

I agree with LB - especially that it was very hard to be selling off 2007 stud fees. It would have been hard to have been selling off 2009 stud fees.

FOS · Postby **FOS** » Fri Jul 24, 2009 1:39 am

hi LB

LB wrote:... buyers were there and they were buying the good ones that were offered. ...

Gotta smile

...they were buying the good ones sounds similar to the attempt at diplomatic mumbo jumbo (if you will) that all too often seems to be the go-to garble disseminated by sales company management/spokespersonnel.

Respectfully

LB · Postby LB » Fri Jul 24, 2009 5:04 am

FOS wrote:hi LB

LB wrote:... buyers were there and they were buying the good ones that were offered. ...

Gotta smile ...they were buying the good ones sounds similar to the attempt at diplomatic mumbo jumbo (if you will) that all too often seems to be the go-to garble disseminated by sales company management/spokespersonnel.

Respectfully

FOS, it may sound like diplomatic mumbo jumbo--but it's also true. The fact is that there are too many TBs bred each year and that unfortunately some breeders think that the answer to all their problems is to breed, breed, breed and sell, sell, sell.

The sales market is very specific and buyers know what they want and what they don't want. Which has never stopped sellers from offering them the latter.

Hence my saying that there was money available for the good ones. The days of breeders being rescued from their own mistakes by an eager-to-buy, deep pocket market are over.

madelyn · Postby **madelyn** » Fri Jul 24, 2009 8:00 am

The yearling sales always bring out some very interesting horses. They also offer opportunities to pick up some good horses for below-cost. One yearling might be just as good as another but has not been prepped as well. The yearlings that have been working on sales prepping virtually since birth, being walked and stalled every day, been groomed and trimmed from day one, had opportunities to go to the "spa" and swim for two months, been hothoused to the point that they look almost like three year olds - those are what the market seems to define as the "good ones." The yearlings that have been field raised and only spent the last two or three months learning their manners and being exercised to build them into a sales horse might look inferior - yet in my experience it is these "less expensive" horses that stay sounder and go on to earn the lion's share of the winnings vs. the highest price offerings.

Another perspective is that if you didn't have what LB infers are these "inferior" offerings produced by breeders and brought to the sales, the market would have nothing to compare the Barbie and Ken doll horses to.

LB · Postby LB » Fri Jul 24, 2009 4:35 pm

LB wrote:
madelyn wrote:.........Another perspective is that if you didn't have what LB infers are these "inferior" offerings produced by breeders and brought to the sales, the market would have nothing to compare the Barbie and Ken doll horses to.

Madelyn, I never inferred (I assume you mean implied?) that yearlings that are field raised and spend only a a month or two in sales prep are "inferior"...

Implied might be a better word. I never majored in English and actually it is my second language.

LB wrote:[s for the hothoused, sales-prepped-from-birth yearlings you refer to, despite the many sales I've been to, I have never seen one of those. I know they exist in internet lore; but I doubt that they can be found in real life...

But how do you know that you have never seen one? Did you interview each yearling at the sale to discover the routines of its early life? I've gotten to know some of the showmen and grooms that work for some of the biggest consigners and these fellows can tell you what is really under that hood. Many of the weanlings purchased by pinhookers never see the gate of a pasture again. One pinhooker I know of in particular buys weanlings sends them to swim for up to SIX MONTHS.

LB wrote:Most breeders and buyers that I know can see around a bad prep job to the yearling underneath. They can also see past a really good prep job to find flaws when they exist.

I think if all of the buyers you know can see "around.. to the yearling underneath" (maybe you meant "through?") you find yourself in rarified company indeed. Lucky you. I would contend that the kind of buyer you describe is in the minority, or is a pinhooker. In fact, I believe that is one thing that some pinhookers look for.

I also didn't mean to imply that all of the field raised ones had BAD prep jobs - prepping is just so much grooming and clipping and teaching manners. Three months of prepping goes a LONG way. But the hothoused weanlings that spend their winter months in warm climes swimming and being walked MILES a day definitely CAN make field raised weanlings look "inferior" when both have become yearlings. The professional pinhookers who actually have to live on what they make from selling their horses are shooting well above the mark that a hobby breeder might hope to attain for their yearling, sales-pricewise. They often have quite a lot invested in getting those yearlings to look like three year olds and stand out from the crowd.

merasmag · Postby **merasmag** » Sun Aug 16, 2009 8:45 pm

well...lol...

madelyn · Postby **madelyn** » Mon Aug 17, 2009 9:58 am

Well that's odd - I quoted a post that is no longer there.

LB · Postby LB » Mon Aug 17, 2009 3:06 pm

madelyn wrote:Well that's odd - I quoted a post that is no longer there.

I'm thinking the same thing. I didn't remove it, where did it go? I was enjoying the discussion and have no idea why my post (which I think was posted several weeks ago) was deleted.