Barretts Oct. mixed sale
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So far it looks like a bloodbath. Not that many "No Bids," but many good 15yo mares with black type going for less than $2000 in foal. If it wasn't for the Golden Eagle consignment, I'm sure the average would be plunging. There were a couple of sires that got zero respect: Skimming, Spinelessjellyfish, and Suances were most of the No Bids & $1000 bids, it seems.
"When I am on my deathbed, I imagine I will say, 'Thank God I did that'" - Arthur Hancock, on buying back Gato del Sol from Europe after Exceller was killed in a slaughterhouse in Sweden.
Barretts says that:
In 2007, 201 sold for $2,434,500; avg $12,112; median $3500
In 2006, 190 sold for $959,700; avg $5051; median $2700
What a difference in the average!
I suppose the fires really affected the sale. So many of the big farms got damaged, or are flooded with evacuated horses; I'm sure they weren't really up for going and getting more horses.
In 2007, 201 sold for $2,434,500; avg $12,112; median $3500
In 2006, 190 sold for $959,700; avg $5051; median $2700
What a difference in the average!
I suppose the fires really affected the sale. So many of the big farms got damaged, or are flooded with evacuated horses; I'm sure they weren't really up for going and getting more horses.
"When I am on my deathbed, I imagine I will say, 'Thank God I did that'" - Arthur Hancock, on buying back Gato del Sol from Europe after Exceller was killed in a slaughterhouse in Sweden.
I think to be fair, I saw some pretty questionable breeding material there yesterday being no saled and there's not any fat in the California program to support that kind of animal. This is a game of hopes and dreams and its just too expensive if your dream is winning maiden $8000 in Stockton. And some of those mares had $3200 claimers written all over them.
The market in California now demands that you produce quality and that you get it to the track or at least race ready. That's not entirely a bad thing if you want to encourage quality but its really pushing the risk onto the producers and in the short term, its going to be a blood bath.
The flipside is that racing stock is exorbitant. Some of those Fulton horses that brought six figures had a couple of thirds and a fourth. Now they were expensive yearlings but not home runs by any means.
If this is really a market where you can't get a stud fee out of a mare and you can't begin to recoup until 3 years after mating (and then who knows), the California market will start to look like the sporthorse market which is full of hobbyists producing one or two foals a year. That's a problem when there is not enough to support the farms and the stallions and we may already be seeing that.
Wish me luck that I am unsuccessful today. With this market, I may be live on a mare and I need another mare like I need a hole in the head.
The market in California now demands that you produce quality and that you get it to the track or at least race ready. That's not entirely a bad thing if you want to encourage quality but its really pushing the risk onto the producers and in the short term, its going to be a blood bath.
The flipside is that racing stock is exorbitant. Some of those Fulton horses that brought six figures had a couple of thirds and a fourth. Now they were expensive yearlings but not home runs by any means.
If this is really a market where you can't get a stud fee out of a mare and you can't begin to recoup until 3 years after mating (and then who knows), the California market will start to look like the sporthorse market which is full of hobbyists producing one or two foals a year. That's a problem when there is not enough to support the farms and the stallions and we may already be seeing that.
Wish me luck that I am unsuccessful today. With this market, I may be live on a mare and I need another mare like I need a hole in the head.
To an extent, it might be that perceptions are playing against selling a mare in foal and recouping the stud fee. A mare in a dispersal would be the exception. But experience has taught some buyers that "problem" mares are the ones that end up getting dumped in a sale.. either they throw small or crooked foals or have reproductive issues. So they are got in foal and dumped. Or the mare is being way over-bred to try to get something more than her real value. Either way, past buyers of those kinds of mares tend to have quit buying mares. And then there is the price of yearlings. If you can buy a decent long yearling, just a few months from its two year old year, for around the stud fee, why would you buy a mare in foal?
The sales results are on the website, under results. I thought it was interesting, also, that there were 70 outs, a lot more than last year (37). I wonder what effect that had?
The sales results are on the website, under results. I thought it was interesting, also, that there were 70 outs, a lot more than last year (37). I wonder what effect that had?
So Run for the Roses, as fast as you can.....
madelyn wrote:The sales results are on the website, under results. I thought it was interesting, also, that there were 70 outs, a lot more than last year (37). I wonder what effect that had?
Don't forget the recent fires madelyn. Now I don't know that they were the result, but I wouldn't be shocked if a lot of horses in San Diego County didn't make it through this week in tip top sales condition.
I have heard that several of the consigned horses didn't make it to Barretts because of the fires -- cuts, bumps, trauma. Some of them will point to January.
But I've been to several of the Barretts sales, and it's either feast or famine. Some of the broodmares for sale just makes one wonder what they were thinking in the first place. On the other hand, if you do your homework there are nice ones to be had, as at any sale, and those seem to be sellling. The ones that surprised me were some of the racing stock, that seemed to me to be very over-priced for what the buyer got.
I can't really fault buyers shying away from some of the unestablished CA sires in foal to questionable broodmares.
I'm just watching the sale on my computer this year, so I'm not sure what the crowd is like, but in Oct 2006 the buying crowd was very poor, not even many lookers on the weekend before the sale. However I thought the sale itself was rather weak in offerings, and that plus a small group of buyers produced a poor outcome. The Jan 2007 sale had better offerings, and a larger crowd, and did better.
I know it's hard for the breeders and I feel for them, but it's also difficult to understand why they would think that just because a yearling or broodmare is offered at auction that they would make back the stud fee if there just isn't much on the page to begin with.
And good luck to you Sysonby, or bad luck as the case may be, hope you get a nice one.
But I've been to several of the Barretts sales, and it's either feast or famine. Some of the broodmares for sale just makes one wonder what they were thinking in the first place. On the other hand, if you do your homework there are nice ones to be had, as at any sale, and those seem to be sellling. The ones that surprised me were some of the racing stock, that seemed to me to be very over-priced for what the buyer got.
I can't really fault buyers shying away from some of the unestablished CA sires in foal to questionable broodmares.
I'm just watching the sale on my computer this year, so I'm not sure what the crowd is like, but in Oct 2006 the buying crowd was very poor, not even many lookers on the weekend before the sale. However I thought the sale itself was rather weak in offerings, and that plus a small group of buyers produced a poor outcome. The Jan 2007 sale had better offerings, and a larger crowd, and did better.
I know it's hard for the breeders and I feel for them, but it's also difficult to understand why they would think that just because a yearling or broodmare is offered at auction that they would make back the stud fee if there just isn't much on the page to begin with.
And good luck to you Sysonby, or bad luck as the case may be, hope you get a nice one.
Cowgirl wrote:Where did you go to get the results of the sale for today? I looked on their webpage and nthing has been posted yet.
I'm sure the results are on the website by now, but I got those figures from a global email that Barretts sent out within minutes of the closing of the sale. They were having trouble with their website earlier that day, and they probably wanted to make sure that registered internet buyers knew that they could access the sale through Live Global Bid's website as well as Barretts.
"When I am on my deathbed, I imagine I will say, 'Thank God I did that'" - Arthur Hancock, on buying back Gato del Sol from Europe after Exceller was killed in a slaughterhouse in Sweden.
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