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Keeneland January

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  • #41
    Originally posted by Pronzini View Post
    This isn't new but it is getting worse. No one wants a mare. Breeding horses requires consummate patience and doing it thoughtfully and skillfully is not only expensive but very hard. Do it right and Mother Nature can still slap you upside the head not to mention Lady Luck. The money is in pinhooking which itself tends to be concentrated in a narrow slice of the horses out there. This is unhealthy for the entire industry IMO. Racing relies on a pyramid and you've got to have the horses, owners and breeders at the bottom to support the ones at the top.
    The interesting thing to me is that pinhookers aren't just driving the sales market now. They are also affecting mare owners' breeding decisions, and even how long farms are willing to give their stallions to prove themselves. TB breeding is entering an era of instant gratification--which is pretty much a pinhooker's goal: get in and out in just a few months without ever having to put your decisions to the test by actually racing the horses you've picked.
    www.laurienberenson.com

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    • #42
      Originally posted by LaurieB View Post

      And good luck with your shopping! I hope you find something wonderful.
      Also ended up with an Animal Kingdom yearling. Needs some groceries, a good worming, and some TLC. I couldn't leave him there. 😉
      What you allow is what will continue.

      Comment


      • #43
        Originally posted by mht View Post

        Also ended up with an Animal Kingdom yearling. Needs some groceries, a good worming, and some TLC. I couldn't leave him there. 😉
        I hope he repays you by running like his sire did.
        www.laurienberenson.com

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        • #44
          Originally posted by mht View Post

          Also ended up with an Animal Kingdom yearling. Needs some groceries, a good worming, and some TLC. I couldn't leave him there. 😉
          Well done, you excellent person, you!

          Comment


          • #45
            Originally posted by LaurieB View Post

            The interesting thing to me is that pinhookers aren't just driving the sales market now. They are also affecting mare owners' breeding decisions, and even how long farms are willing to give their stallions to prove themselves. TB breeding is entering an era of instant gratification--which is pretty much a pinhooker's goal: get in and out in just a few months without ever having to put your decisions to the test by actually racing the horses you've picked.
            This times a thousand is why the market is so volatile and top heavy. No one wants just a horse and advisors don't want to be wrong. But flipping a horse for twice you paid on one end of the transaction and buying the latest "hot" sire on the other side gives automatic cover even if the horse in question can't outrun me.

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            • Original Poster

              #46
              After watching a few days of the sale, I wish I was in a better "life" place right now to welcome another addition to the barn. But with work; life is just too hectic right now. Certainly a buyers market and if you wanted to get in the game ; you can do so rather affordably at this point if you stay away from the boutique sales. Lots of solid mares selling in foal to some great stallions and even at this sale there was a lot of nice youngstock at very affordable prices.

              I am not sure who "Erin Fisher" is but after scrolling the days' final results; I noticed her/his name appear many, many times as the buyer. Bought many of the really cheap mares. looks like she owns Harper Ridge Thoroughbreds located in Lexington


              Erin bout
              5 mares in session 5,highest paid was $2000 for a Menifee mare
              5mares in session 4, the highest paid was $2000 for the Perfect Soul mare
              1 mare in session 3 ($2500 Songandaprayer mare)
              2 mares in session 2
              2 mares in session 1
              ...15 mares total


              Comment


              • #47
                Originally posted by snaffle1987 View Post
                After watching a few days of the sale, I wish I was in a better "life" place right now to welcome another addition to the barn. But with work; life is just too hectic right now. Certainly a buyers market and if you wanted to get in the game ; you can do so rather affordably at this point if you stay away from the boutique sales. Lots of solid mares selling in foal to some great stallions and even at this sale there was a lot of nice youngstock at very affordable prices.

                But then you have to foal them out, raise the baby, wean the baby, sales prep or break the baby and have a plan for the baby. A person who does it themselves should have some expertise. Paying someone else to do it costs. That cheap mare will cost $20,000 by the end of this year and multiply that if you get more than one.

                That's why they are so cheap.....

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                • #48
                  Originally posted by Pronzini View Post
                  But then you have to foal them out, raise the baby, wean the baby, sales prep or break the baby and have a plan for the baby. A person who does it themselves should have some expertise. Paying someone else to do it costs. That cheap mare will cost $20,000 by the end of this year and multiply that if you get more than one.

                  That's why they are so cheap.....
                  The numbers the industry uses as averages are $30,000 to get a foal from birth to a yearling sale (not including the cost of the stud fee or the mare) and $50,000 to get that foal ready to race in its 2yo year (again not including stud fee or mare, and assuming nothing goes really wrong).

                  At $40 a day those "cheap" mares start costing money the minute you get them home. (Actually even before that. It's $60 for the pregnancy check before leaving the sale, and $100 for the trip to the farm if the mare is being delivered in Lexington.)
                  www.laurienberenson.com

                  Comment

                  • Original Poster

                    #49
                    Originally posted by Pronzini View Post

                    But then you have to foal them out, raise the baby, wean the baby, sales prep or break the baby and have a plan for the baby. A person who does it themselves should have some expertise. Paying someone else to do it costs. That cheap mare will cost $20,000 by the end of this year and multiply that if you get more than one.

                    That's why they are so cheap.....
                    Yes, for sure. But "cheap" in the long run compared to jumping in on a six figure prospect at one of the earlier, higher stakes sales. Even if you bought one of the youngsters; lots of great prospects for dirt cheap and there is no way that the majority of the sale offerings had vet issues. My point is that if you wanted to get in the game and wanted to spend the money, it is certainly a buyers-market.

                    But lets be honest; horses are very expensive. Racehorses even more-so depending on the level you are playing at. The sport has been on the decline for many reasons. One of them being the sheer cost to own, breed and raise them. its tough. But I always thought that this sale truly reflects the reality of the market or the business.

                    Comment


                    • #50
                      Originally posted by Where'sMyWhite View Post
                      mht Remember we're expecting photos of the new acquisition


                      LaurieB congrats on winning the Astern season! You planning on rebreeding to the same mare as Zing (or do I have Race and Zing backwards?) or to one of your other mares?
                      Here's the filly. First ride, today, since her arrival a week ago. A bit green, but well behaved. She's a sweetheart. Bobbie's Secret (Shanghai Bobby-Humint-Mutakddim)
                      What you allow is what will continue.

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                      • #51
                        mht Love how she's just standing there completely nonplussed with the experience (indoor arenas might be a bit new for her depending on where she came from).

                        Keep us posted on your new girl!!

                        When you start to observe, you become more effective... your movements soften, you see more, you are more available to becoming a team member. Be an Observer first, a Handler second.

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                        • #52
                          Originally posted by mht View Post

                          Here's the filly. First ride, today, since her arrival a week ago. A bit green, but well behaved. She's a sweetheart. Bobbie's Secret (Shanghai Bobby-Humint-Mutakddim)
                          Congrats mht!! I'd love to know more about the Woodbine incentive program (though this might be dangerous information lol)

                          Comment


                          • #53
                            Well done, mht! She looks lovely.
                            www.laurienberenson.com

                            Comment


                            • #54
                              Originally posted by fargaloo View Post

                              Congrats mht!! I'd love to know more about the Woodbine incentive program (though this might be dangerous information lol)
                              Not sure if the following link is going to work for you. Just google it if it doesn't.

                              http://www.hbpa.on.ca/news-and-updat...ntive-program/
                              What you allow is what will continue.

                              Comment


                              • #55
                                Have fun mht ! She looks great!

                                Comment


                                • #56
                                  Another reason that mares are at the bottom of the heap sales wise, is that you have got to have pinpoint accuracy when you do breed a mare. You have got to either breed to a first year sire (which sell at a super premium; its not unusual to see a second year sire have his stud fee cut 25% or more his second year), or you have to have a crystal ball to see who will be hot in 2 years, or who will not have been shipped off to Korea in the meantime. Those breeding mares to race have the distinct advantage of not having to worry about the sale market, and can breed to stallions they they like, that are proven, that are producing solid runners. Lots of really great stallion buys right now in the under $15k category.

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